It can be hard as a small business to compete with the top dogs as larger transport companies are able to attract business in with larger fleets, more competitive pricing, supplier discounts and more delivery options. However, it is not impossible to compete with the larger companies and to grow your transport business from a one man show to a full fleet of vans and lorries.
If you are considering expanding your transport business, then here are some tips and tricks which should help you on your way to creating a solid brand and a successful business.
Build a reputation for excellent customer service
While big businesses may be able to outdo your small company in some areas, one thing large companies are often lacking is the personal touch. Many customers these days are looking for businesses who will go the extra mile and make them feel valued and they will also pay the extra few pounds to get that experience. Build up a reputation as one of those businesses as you will be able to reap the benefits of loyal customers as you rely on regular business to fund the growth of your transportation business.
Cover yourself with the right insurance
Going from a man with a van set up to a full transportation business means that you will have to invest in truck fleet insurance to make sure that your vehicles are on the road legally. Commercial fleet insurance covers your vehicles, your drivers, third parties so it is vital to find a specialised HGV fleet insurance broker to help you find the best policy to suit the needs of your expanding business.
Stabilise your cash flow
Transportation invoices are often not paid until after delivery and this can sometimes take several days if not weeks. This is a part of the transportation industry you must accept but if you are looking to expand then you need to money to make the necessary investments such as extra fleet vehicles and drivers. Plan ahead to ensure you have enough immediate cash to fund new purchases, new hiring’s, new insurance policies and plenty of fuel for your increased work load.
Investigate truck load boards
Truck load boards are an excellent way for an expanding transport company to find new loads and jobs. Both transport companies and customers use these boards to advertise and look for suitable jobs. This can be a great way to get some early jobs to help stabilise your cash flow and introduce your company to potential new regular clients.