Whether you are a consumer, business owner or a car dealer, you rely on an auto transport business to help you move vehicles over long distances. This not only saves you a great deal of money, time and any wear and tear on the vehicles. New technology has revolutionized the auto transport industry, making it more efficient and rewarding. Starting a new business can be hard, especially if you are on a budget. Here are ways in which you can build your auto transport business from scratch, on a low budget.
Given that you are on a low budget, start small and focus on building a client list that will still need your services in the long run. This will involve starting out with a smaller fleet of transport vehicles within our budget. You can buy more as your business becomes more profitable.
Get a CDL A license
Before you jump into the business, you need to ensure that you obtain a CDL A license first. This will make it easier and cheaper when seeking to get insured. You are operating on a low budget, hence, you may want to use cost-effective measures, so that you can spend less money when obtaining subsequent certifications.
The right equipment
Consider getting smaller equipment, which is more affordable as you start out. Although the equipment you choose should be based on the distance and route you will be running, it’s vital to also consider the price tag. You can start out with a ¾ car setup, which is more practical if you are on a low budget and advance to a 7-10 or larger carriers with time.
Get different insurance quotes
Do not opt for the first insurance company that comes to mind. Do your research and get quotes from different companies so that you can compare the prices. The good news is, you are bound to get affordable quotes since you already have the CDL A license we talked about earlier on.
Whether you are on a tight budget or not, it’s highly advisable to fulfill the legal requirements set for every trucking business. If you can afford the insurance payments, getting the relevant legal documents will be just as easy. Apart from incorporating your business and getting your IFTA and UCR registration, you also need to acquire a bill of lading. This is a vital document, and not having one can break your business even before it’s off the ground.
Create a strategic plan
Now that your business is fully registered, you need to create a plan that will govern the operations. To begin with, have an idea of what you will be transporting. Since you are on a low budget, you can start with cars and advance to trucks and vans over time. You should also probably start with transporting the cars interstate then once your business becomes profitable, you can cross the state borders. Finally, define how you are going to get your loads and any job roles in your company.