As a business, you’re going to be making quite a few investments. From purchasing the necessary equipment and software to hiring new employees, you’ll be spending a lot of money before you can make it. One investment that you’ll have to be diligent with is a fleet. A business fleet is a group of vehicles you use to further your goals and perform commercial duties. However, it’s one of the most expensive investments you’ll ever make, and it pays to be prepared before anything else. However, as a new business owner, you’re unsure on where to start. In this post, we’ll be helping business owners prepare to buy a fleet.
Calculate Your Budget
As with any kind of investment, you’re going to need a budget in place. No matter how you go about it, you’ll be spending thousands. To create your budget, you must first go over what type of vehicle your business needs. Do you require small, compact vehicles for deliveries? Or does your business require trucks instead? How many vehicles does your company need? These are all questions you must answer as you calculate your budget.
You Need to Register Each Vehicle
Before your fleet can be operational, there are few tasks you must accomplish. First, you must register them with the Department of Transportation (DOT). The DOT will give your vehicles an identification number. Vehicle identification numbers (VIN) are used to help track warranties, vehicle registrations, and insurance. One thing we should point out is that these numbers aren’t randomized, so it’s easier to remember. There are guides you can read online that can help you locate your VIN and decode each digit.
Look for Discounts
Due to the sheer cost of a fleet, you’ll want to try and save as much money as you can. As you search for suitable vehicles, keep an eye out for any sales and discounts. Some car dealerships may also have a special promotion going on that can help you save hundreds. Alternatively, for a surefire way to save some money, consider looking for used vehicles. Contrary to what some may believe, purchasing used vehicles isn’t a bad decision. Some people stay away from them because they think it’ll be a lemon. While you should obviously have the vehicles inspected, but the truth is that used cars work just as good as brand-new ones.
Hire Trustworthy Drivers
You cannot start a car related business and only consider the fleet. You also need to think about you’re going to allow to drive them. Because of how important this investment is, you need to make sure you can trust your drivers. This means you must thoroughly screen every applicant. One thing to note, however, is that you must ask for consent to perform a background check. If an applicant isn’t willing to have one, it’s in your best interest to move on to the next candidate. It’ll also help if you review your state’s guidelines as well. Some areas won’t allow fleets to operate unless the drivers have a commercial driver’s license.