The Small Business Times

Crucial Points To Consider When Building A Business Fleet

Countless companies from virtually every industry rely on vehicles for various crucial tasks.

Whether your team members need to transport goods to different environments, move heavy equipment around, or simply visit clients in-person, they need the right vehicle.

Building your own fleet isn’t just a great way to ensure your small business can compete with larger organizations. 

It can also be crucial to boosting productivity, unlocking new avenues of profitability, and paving the way for growth.

Of course, like any major change to your business, designing your own fleet is a process that requires careful planning and consideration.

Here are just some of the points you’ll need to think about when you start building your fleet. 

Which Types Of Vehicles Are You Buying?

Commercial vehicles can come in a variety of different shapes and sizes, intended to address different business needs.

If you’re purchasing vehicles that allow you to present a consistent brand image to consumers when visiting clients in-person or hosting demonstrations, you may be able to focus entirely on standard cars.

On the other hand, if you’re using vehicles for specific purposes, such as hauling equipment to job sites, transporting goods, or supporting your logistics strategy, you may need larger, more versatile solutions.

Think carefully about what your vehicles will be used for before you purchase anything.  

What Licenses Will Your Employees Need?

Operating commercial vehicles isn’t always the same as driving a standard car. While some employees may be able to use your assets with a basic driving license, others will require a commercial driver’s license to ensure safety on the road.

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Before you start investing in new trucks and other specialist solutions, it’s important to determine what type of license your employees need so you can provide them with the correct training.

You can learn more about CDLs and who in your team might need one by reading guides and articles available online. 

Will You Buy Or Lease Your Fleet Vehicles?

There are a few different ways to invest in a new commercial fleet as a business owner. One option is to access financing, a business loan, or a personal loan to purchase your assets outright.

This can be a good option if you don’t want to worry about the stress of leasing resources. Leases, however, can have their benefits too. They can reduce the upfront costs of operating your fleet, ensuring you don’t have to buy anything outright.

You may also be eligible to access various tax advantages if you choose the right leasing option. On the other hand, it’s important to ensure you’re caring for your vehicles so you’re not subject to extra fees and fines. 

What Kind Of Insurance Do You Need?

Whether you lease your commercial vehicles or buy them outright, having the right insurance is crucial to keeping your business compliant, and protecting your assets.

Sometimes, small business car insurance can cost thousands of dollars, particularly if you’re protecting larger vehicles like trucks. It’s important to compare your options carefully to ensure you’re getting the best deal for the right leverage of coverage.

It’s also worth carefully examining the driving records of your employees to ensure they haven’t been involved in any altercations or accidents.

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You can even consider training your employees with road safety classes and extra support to help reduce the costs of protecting your assets on the road. 

Will You Use Fleet Management Tools?

Finally, when investing in a fleet for your small business, make sure you think about the software and technology solutions you can use to simplify operations, improve efficiency, and unlock new saving opportunities.

While fleet management tools can seem like just another expense on top of the costs of hiring or buying your new vehicles, it can be extremely valuable.

The right software will allow you to carefully monitor your assets at all times, tracking their health and performance, and even implementing preventative strategies for maintenance.

Some tools can even help you to save money over time, by providing insights into inefficient driving practices and strategies to streamline your transportation routes.

Building Your New Small Business Fleet

An effective fleet can be a powerful resource for any business, not just large enterprises. Investing in the right solutions for your small business can empower your team to accomplish more, unlock new levels of profitability, and even become more productive.

However, it’s important to ensure you’re taking the right things into consideration before you make your purchase. Assess all the points above carefully to boost your chances of fleet success.