With so much job insecurity around these days, more and more people are looking to start up their own company and take more control over their career destiny. Starting a delivery company could offer you the perfect mix of employment independence while still getting out and about and meeting new people in a varied and interesting job.
There are multiple advantages to being your own boss and running a firm in your own time at a schedule that suits you; however, there are some important aspects when setting up a delivery company that you should bear in mind when you’re starting.
Below are just a few tips that will help you get started with your first delivery firm.
Rule 101: Write a business plan
All prospective entrepreneurs should write a business plan before starting down the road to running their own firm. A good business plan will help focus your mind on the tasks ahead and highlight potential problems (or even opportunities) that you might not have considered. You should ensure your plan covers everything from anticipated running costs to expected growth and areas for further expansion.
Set up a company and register for taxes
To be taken seriously – and operate legally – you’ll need to set up a company. The most common types of business entities are partnerships, corporations, sole traders, and Limited Liability Companies (LLCs). The one you choose will be dictated by your particular circumstances.
You will also need to get registered for personal and business tax taxes; however, the process is easy, and you’ll find some great guides online.
Make sure you have a legal team behind you
In any role dealing with the public and other companies, you should ensure you have a legal team ready to stand behind you in the event of problems. For example, you should pick a firm that can represent you in all aspects of the law for a delivery company and has everything from a business law specialist to a truck accident attorney.
Obtain the necessary permits to run a delivery company
The permits for running a delivery business vary from state to state. You should check online, which applies to you, as starting a firm without the correct licenses could result in a hefty fine further down the line. Note – you will also have to register all vehicles you intend to use (if they aren’t already).
Get an accountant and set up business bank accounts
While you might be able to handle some of the smaller accounting duties when you’re starting, as you grow, you’ll need professional help, so it’s a good idea to start as you mean to continue. You’ll also need to ensure you set up a business bank account – ideally, one that allows you to take as many different types of payment as possible.
Purchase business insurance
All businesses require insurance; however, it’s particularly important for delivery firms where you’re handling other people’s property and are driving so much. So, sign up for business insurance before hitting the road to ensure you’re protected and operating within the law.
