How to start your employee transportation business ?
The Employee Transportation service market business model came into the spotlight with the thesis to solve the employees’ daily transit needs. However, the economic downturn of 2020 has given a room of scope for shared ride commuting, mobility as a service, and other on-demand ride-hailing services.
After almost one year of work from home culture, offices are starting to re-open and are asking their employees to get back to their cubicles. It has given entrepreneurs a unique opportunity to launch their corporate carpooling business and enter mobility as a service business model.
Time to make the right move!
- Determine what kind of vehicle you want- the type and the count
- Write a business plan
- Determine the target area- location, demographic preferences
- Plan out your finances
- Study the market competitors
- Get set with the right technology
- Miscellaneous Requirements
Determine the vehicle type and count
Before you begin with an employee transportation solution, you need to decide which type of business you intend to launch and operate. You might have various options to consider for starting an employee transportation system- a taxi business, bike rental, shuttle services, carpooling or limousine service.
Once you figure out what type of employee transport solution, you wish to begin with, you will need to build a concrete plan around it. After taking a final call over the vehicle type, you need to decide on the vehicles’ count to start with. For instance, you can launch your employee shuttle services with a single shuttle too. And in another scenario, you might start with a corporate carpooling business model with one or two cars.
You may be interested in knowing about how to start your carpooling business in 7 days.
Write a Business plan
A concrete business plan might require to go for a brainstorming session to make an informed decision. The critical decisions such as establishing a business name, the business location, registration of the company- are a few of the initial decisions that need to be made. Your business plan might include:
- A goal-oriented action plan
- Understanding and creating the end to end business process
- A predefined marketing strategy
- A description of your finances- expenses, maintenance cost, labour cost
Please note that a business plan is a working document that can be changed and updated with time. It helps in offering you a thorough layout of how processes will be shaped in the coming times.
Determine the targeted area
For launching your employee transportation management system, you need to start from a specific area. The decisions are determined on the basis of your choice of location and demographic. For instance, many employees are looking for real time services for their day shifts and looking for the night shifts commute.
As a part of your decision, you should be open to know about the market’s demand and shall take decisions accordingly. The cost effectiveness of services should also be taken into consideration.
Plan out your finances
For a start-up, you need to have decent funds, to begin with. At the inception stage of launching your business, you need to opt for your vehicles’ insurance. Get a sturdy business plan ready to impress the investors and raise the necessary funds swiftly.
Study the competition
Someone has rightly said that if you are expecting to grow your business, you need to stay close to your well-wishers but closer to your competition. It is essential to go ahead with a thorough market analysis and know-how others perform in the market.
Get started with the right technology
The right technology can do the wonders. From offering a working mobile app to digitizing your end-to-end pickup drop process, your tech partner has robustly covered everything. A customized shuttle software or app can do the same from a quick pickup to a smooth drop of the employees at a predefined time.
To learn more about how software and apps work to make your corporate carpooling business successful, click here.
When all things are placed together, all you need is to get started. However, there are a few various requirements such as license, state permissions, Tax Federal number etc. that need to be taken care of on time.
Start your employee transportation business with ease
We sincerely hope that this post has opened the doors to envision scalable predictability for your transportation business. It is possible to start small and scale-up your operations as time moves.
No matter where you are and from where you have to begin, Team Jugnoo invites you to dream up an incredible and predictable future. Get in touch with us to own some practical tips and guides to kickstart your employee transport solution instantly.
We wish you to stay proactive with new growth opportunities, learning and leadership in the mobility sector. Read on our new and exciting write-up over mobility business ideas to begin in 2021 and get started with your own transport business.