Starting a senior transportation service is an amazing business idea and one that can be very rewarding once you take off. There are many elderly adults who just are not able to get around like they used to. But that’s where you come in; to bring them to and from various locations. However, starting a transportation service is no small accomplishment. You’re going to have your work cut out for you if you want to see success. In this article, we’ll be providing tips to help you start your own elderly transportation service.
You Need to Procure the Right Vehicles
There are two ways you can go about starting your own transportation service; you can either use your own personal vehicle or you can purchase an entire fleet. It’s more than a viable option if you want to be more of a solo service. In fact, the costs are far lower than it would be if you decided to hire other drivers. Though, if you want to be a small company, a fleet is one of the largest investments you’ll ever make.
You’ll want to ensure you get the most out of your money. If there’s one thing to help you boost attention, it’s proving you believe in sustainable practices, which can be done by purchasing electric vehicles (EVs). EVs are becoming more mainstream as they help protect the environment by not relying on the burning of fossil fuels. Instead, they used high-powered batteries to operate. These batteries can have different ranges depending on the vehicle. Make sure to review Samsara’s guide for an in-depth look to learn more about the ranges of EVs.
Get the Proper Licensing
Regardless of how you choose to go about launching a new business, in the transportation service sector you’ll need to apply for the right licensing. Having a regular driver’s license might not be enough in your state. This is because the Federal Motor Carrier Safety Administration (FMCSA) might mandate you to have a commercial driver’s license. A commercial driver’s license is typically the same as a traditional driver’s license except it’s what allows you to drive a larger vehicle, or one used for commercial purposes. The amount of money you must pay to obtain this license varies by state.
Choose Your Business Entity
Before you can get your transportation service on the road, you’ll first need to choose a business entity or structure. A business entity is what allows you to legally operate as a company while also dictating how taxes and legal issues are handled. There are four entities you can choose from: sole proprietorship, partnership, corporation, and limited liability company (LLC).
It’s typically recommended that you choose to become an LLC rather than a sole proprietorship. This is because the latter is incredibly demanding. Sure, you may own the business in its entirety, but that means you’re also responsible for everything. An LLC combines the best aspects of the other three options into a single entity. You’ll have the aforementioned ownership of a sole proprietorship; you can hire anyone like a partnership, and you’ll have the standard protection of a corporation. The choice of what entity works best is up to you. Make sure to weigh the pros and cons before settling on a decision.
Market Your Services
Once you have everything in order, the time has come to start marketing your services. Since you’re an elderly transportation service, it should go without saying who your target audience is. The best places to start advertising yourself is to visit your local senior center or a gated community for senior citizens. As you advertise, it’s in your best interest to set low rates to increase the chance of getting a callback.