Do you want to start a car tracking company from scratch? Or you need a sample car tracking business plan template? If YES, then i advice you read on.
Since the car tracking systems came into existence, it has become very easy for fleet operators to comfortably manage their fleet of vehicles. With the advent of this device, investing in transport, haulage and logistic business and even ambulance services has become a profitable venture because the tracking device helps keep the drivers under check, monitor the fuel consumption, distance covered and also ensures safety of the vehicle.
The fact that you can install GPS car tracking devices that trigger automated bus stop announcements makes it easier to run a public transport service company. Much more than buying insurance for personal cars, most people also choose to buy and install car trackers in their cars to prevent theft. The truth is that with car tracking devices, even if your car is stolen, it can easily be tracked and recovered.
Global statistics show that the need for car tracking systems in cars is on the increase because of how efficient it has proven to be and as a matter of fact most transport operating companies won’t allow their cars to start plying the roads until they have installed a vehicle tracking system on it. If starting a car tracking company is tops on your mind, then the tips below should guide you to start from the scratch and build it to a profitable enterprise.
Starting a Car Tracking Company – Sample Business Plan Template
The need to carry out a research before investing your money into any business venture is always the right and first step to take considering the rate at which investors who are not properly guided lose their hard earned money.
Before starting your car tracking company, you are expected to carry out your research, to know where to locate the company, how to get or design the car tracking device, the estimate of the start-up capital required, how to maximize profits and lots of other factors that you might want to research about. Then you can proceed to prepare a business plan for your gps tracking service company.
2. Register Your Company
It is fact that no company or even individual might want to buy your car tracking devices and get it installed in their vehicles if they aren’t sure you are running a registered and legal company.
If an unregistered company could operate a car tracking service, then the possibility of criminal elements leveraging on this form of business would be high. You just have to register your company and if possible get the needed operating license required to operate this kind of company.
When looking for a facility to rent to start your car tracking company, you should look for a type that can accommodate fleet of cars and at the same time have enough space for administrative work and data capturing and processing unit.
Although it might cost you much to get this kind of facility in a commercial viable location, but the truth remains that it would make it visible for people to access your company. You can as well get an office location in the outskirt of town if it is cheaper for you, but make sure you put machineries in place to help direct traffic to your office.
4. Equip Your Facility
Having rented your office facility; the next thing to do is to equip it with the necessary equipment needed to start a car tracking company. You would need computers, car tracking software, office tables and chairs, file shelf, GPS tracking server, and all other car tracking components.
5. Learn the Technology and how it operates
If you are just an investor and want to remain as a passive partner, you don’t have to learn the car tracking technology. However, if you are starting out and you want to be involved in the day to day running of your car tracking company, then it is advisable you learn the technology even if you won’t be the one installing the car tracking device for your clients.
This is important because there might be need for you to help install the tracking device for your client if you are short of staffs as is common with start-ups. Learning the technology will enable you to easily market you car tracking device to potential clients.
6. Hire Staffs
To a larger extent the car tracking company falls under the security industry. Because of the nature of your company, you should only hire staffs that are trustworthy and can keep peoples’ information intact. The truth is that the information generated via car tracking device can aid criminals and even assassins to trace and track down their targets. Conducting a comprehensive background check must be part of your screening when looking for staffs to employ.
There are various ways that you can advertise and market your car tracking device. The best approach to start with is to work with auto insurance companies and become their vendors. As a matter of fact, most countries’ security departments are making it compulsory for owners of cars to install car tracking device on their cars because it helps in fighting organized crimes and it also prevents car theft.
You can enter a deal with them that guarantee them some percentage on any deal they refer to you. You can also enter into partnership with car dealers because they can easily refer their clients to you as long as it is safe and it pays them. When it comes to advertising your car tracking company, there shouldn’t be any limit to how far you can go.
You could start with handbills and distribute them in car parks and public places. If you have cash you can place advert spots on Newspapers, TV and Radio, and if you don’t have enough cash you can start with the worldwide web. As a matter of fact the internet has become one of the cheapest and most potent advertising platforms.
If you want to start a car tracking company and you know what you want, then the 7 tips discussed above would definitely teach you how to get started and how to build your car tracking company to profitability. One other thing you must have at the back of your mind is that it takes hard work to build any business.