Whilst the potential consequences of Brexit have been debated at length by both sides of the argument, it’s almost inarguable that leaving the EU will have a damaging impact on the UK’s courier industry.
After all, the distribution to just-in-time supply chains could see established firms lose lucrative contracts, whilst the need for greater volumes of customs paperwork and documentation may also increase administrative costs considerably.
Still, the prospect of leaving with an amicable offers hope to couriers, whilst also incentivising aspiring entrepreneurs who want to launch a brand new courier venture. But what exactly is involved in this process?
- Creating Your Business Plan
Once you’ve developed an initial idea for your delivery business, you’ll need to create a viable business plan that lays down your growth plans and enables you to secure investment against the idea.
This must be detailed and include a number of different elements, including your own employment history and credentials in the industry. You’ll also need to identify what differentiates your courier company from the competition, whilst detailing your service and how it will generate a viable profit
From an investment perspective, it’s also crucial that you showcase some understanding of the marketplace and its size.
By demonstrating demand and opportunity, you can entice investors whilst also creating confidence in your business plan.
- Factor in Your Startup and Operational Costs
As part of any business plan, it’s imperative that you factor in your startup and operational costs (whilst also prioritising accuracy and dealing in pence rather than pounds).
These should include both strategic and non-strategic costs, from vehicles and mobile communication devices to reflective clothing for drivers and waterproof storage and courier compartments.
In short, no stone can be left unturned in your attempts to cost your new business, as you look to detail both startup liabilities and those that will be required to maintain a functional venture over a sustained period of time.
- Don’t Overlook the Importance of Vehicle Selection
The procurement and operation of a vehicle fleet is central to any courier business, and it’s important to make this a key focus on your commercial planning.
You’ll first need to determine the type of fleet that you want, as whilst motorcycles may not be a viable choice in all instances they do offer significant corporation tax and VAT breaks in comparison with cars.
Regardless of your choice of vehicle, however, it’s imperative that you purchase high quality cars or motorcycles and ensure that you achieve genuine value for money. Obtaining an objective car valuation online is central to this, as this guarantees that you won’t pay over the odds for a specific vehicle.
By also having potential vehicles inspected by a verified expert, you can identify any issues ahead of time and make more informed decisions when it comes to selection.