Do you want to know how much money courier companies make yearly? If YES, here is an analysis of the income & profit margin for self employed couriers. One of the best things about being a self-employed courier is the freedom of being your own boss and setting your own hours. In an era of online shopping and home delivery, it is unsurprising that so many people are taking the jump and becoming self – employed couriers.
When looking to start this business, the most important piece of equipment you need is a reliable van or bike, depending on what type of courier you’d like to be. It is important you make your vehicle fully serviced and have a valid license. If not, you could risk letting down customers and doing yourself out of repeat business.
Note that you may consider using your private car to start with, but it is worth thinking about getting a van because you will be able to carry more packages, which is likely to mean earning more money. Also ensure to consider extensively how much to spend on a vehicle upfront, and how much your ongoing costs are likely to be.
You will also need to have the ability to think on your feet in case you get into difficult traffic situations or encounter road closures. Although a good map or GPS will help you navigate your way to most destinations, it is a good idea to train yourself not to rely on it completely.
Do not forget to always keep an eye on local fuel prices, especially when you’re out and about. Note that fuel costs can vary dramatically from region to region, or even across town, so don’t just fill up at your local station for the joy of it. After all, it might only cost you a few pence now, but if you’re doing that every week of every year, you could be depriving yourself of a substantial amount of income.
How Much Self Employed Couriers Make and Their Profit Margin
In the United States, the average income of couriers and messengers was $26,600 in May 2011. This annual income estimate is based on an average amount of $14 – $17 in the U.S. The actual sum varies from city to city. In places like Seattle, Washington D.C., Denver, and Houston, delivery drivers earn more than the national average according to some statistics.
Also note that couriers in the top 10 percent in terms of annual pay made more than $38,200 and couriers in the bottom 10 percent earned less than $17,450. Half of couriers in the industry earned between $19,870 and $30,900 a year.
According to the same reports, self employed couriers working in the District of Columbia led the nation, with $33,570 in average annual earnings. Self employed Couriers in Colorado came in second with $32,320 in average annual earnings, followed closely by couriers in Massachusetts at $31,600, and couriers in Alaska at $30,990.
However, California engaged the most couriers of any state, followed by New York, where couriers made $28,520 a year, on average. Owing to the above reports, packaging, document and message delivery couriers are engaged by a wide variety of businesses in the United States, and their income tend to differ from one industry to the next.
Local self employed couriers earned $25,730, on average, in May 2011, while couriers focused on express delivery service earned about $27,470. Also note that self employed couriers engaged by medical and diagnostic laboratories made $27,870, on average. Couriers in the legal services business made $25,490, and those contracted by general hospitals earned $27,000, on average.
Due to the advancement of digital communication technology and the ability to scan and store documents digitally, the revenue generated by self employed couriers has been affected. On the other hand, physical items and certain types of documents like blueprints require physical transportation.
Experts expect that total demand for couriers and messengers will increase by percent from 2018 to 2923, which is about the same as the national average for all jobs. Note that job demands are likely to be best for couriers in medical delivery.
When doing business as a self employed courier, you should not rush to any conclusions right away. Give it time! You will need to get familiar with how the industry works and the market you serve. Have it in mind that experience transcends money.
You will certainly find ways to maximize your income and time in your city. After some time, you will work faster and be able to batch orders and work with more than one app. You will also provide better customer service and get tipped even more. Veteran delivery drivers can’t stop emphasizing how much tips boost their income.