Not many people would ever imagine owning their courier service; to be their own boss in the business. To become more financially independent and even work your own hours. Most people think that starting a courier service requires thousands, if not millions of dollars, in capital. The truth, however, is that like with any other business, it is never easy starting one from the ground. But there are ways with which you can set up your new courier Toronto business to kick off to a smoother start. Keep reading to find out how.
1. Rate & Charges
The rate you set on your courier services matters a lot and is what will also help clients knocking on your doors soon. Do some research, call around, and do a little digging on what the other courier service providers in your area are charging and start from there. Use that to set a competitive rate that is fair for your fresh business.
2. The Correct Machinery & Equipment
You will have a more efficient courier business if you have the right stuff for the job. You don’t want to exhaust yourself after having to carry heavy cargo back and forth merely because you did not have the right tools and equipment to carry them. The type of equipment for your business depends on the type of cargo you will be moving for your customers.
3. Transport Arrangements
You will also need to purchase a reliable mode of transportation. Most couriers prefer cargo vans as they provide the most cargo space to transport parcels. If you do not have enough to get a cargo van, you can look for ways to lease one at least until you manage to buy your own.
4. Workable Business Plan
You will also need a clear business plan where you have all your expenses, competitive pricing, profit margins, etc. have a business plan that covers everything touching on your business. Have a clear vision of the courier work you want to start and how you plan to make money off of it.
5. Business Name
This may very well be the most rewarding part of starting your own courier business. You get to give the business a name. You should bear in mind that the name you choose will represent your business. It should also represent your business’s mission and values.
6. Qualified and Reliable Employees
When hiring employees, you can start small in the beginning. Hire one or two employees and see how the business fares before you can start hiring more employees to work for you. You may choose to manage the office work of the business and let your employees do the pickups and deliveries of the cargo.
7. Brand Marketing
After you have everything in order, and you believe that the business is finally ready to receive its first customers, you now need to work out how you can let the world know about your business. Create business cards and brochures for your new business and let people be aware of your services.
8. Insurance Cover
You should also consider the type of insurance covers that will protect your business. You never know; accidents happen. Ensure that you insure your vehicle, get cargo insurance, and liability insurance. You can contact your local insurance broker for more information about the types of insurance that your business needs.
9. The Client Pricing Structure
Do not forget about the costs of your overhead when setting your prices. Also, factor in vehicle maintenance, fuel, and servicing costs among other expenses. This is a crucial step to make if you plan on making a profit from your business.
10. Have Attainable Goals
You do not necessarily need to take baby steps here. But it may be a good idea to start things small as your business holds ground. You can even start by specializing in specific cargo types and build your reputation from there as you work your way to the top.