Do you want to start a charter bus company from scratch? Or you need a sample charter bus service business plan template? If YES, then i advice you read on.
The transport industry is known to be one of the industries that are easy to set up once you have the required capital but yet very profitable. The fact that corporate organization may need to convey their staffs to and from their work post and would not want to take the responsibility of owning buses makes a charter bus company a very lucrative business to go into.
No doubt it is capital intensive, but you can be rest assured that you will make a good return from the business if you are well positioned.
So, if you know that you have the financial capacity to acquire good buses, then you should consider starting your own charter bus company. Your clientele base will not just be restricted to offices, but also schools, sport clubs and churches, and what have you. The truth is that, if your buses are new, you will definitely attract more clients.
All you need to get started with your own charter bus company is to acquire or lease at least 5 or 10 Air Conditioned coaster or normal buses, hire professional and well trained drivers, get an office space and a parking yard, purchase the required insurance for both your buses and you drivers, and then launch out to source for business.
Now, let us quickly go through the 7 sure fire tips that can help you start your own charter bus company from the scratch and then build it to profitability within the shortest time possible;
Starting a Charter Bus Company – Sample Business Plan Template
Starting a charter bus company is indeed capital intensive and it is not a business you would want to go into without first drafting a good business plan to work with. Your business plan indicates your source of finance, your marketing strategies, your company’s mission statement and goals, your administrative style, your succession plans and any other factor that will help you run your business successfully.
Once you are done writing your business plan, ensure that you subject it to reality check to confirm if it can fly. In case your business plan fails reality check, you should go back to the drawing board and start all over again.
Starting a charter bus company requires huge capital base to acquire buses and to rent a facility large enough to contain both administrative space and parking garage for the fleet of buses. Hence, what is expected of you is to go out there to conduct your feasibility studies so that you are able to know the type of buses that is well accepted in the location you intend starting the business and the amount required to purchase them.
From your feasibility studies, you should be able to know if you can lease the buses and the process you need to follow. Once you are able to come up with the costing for setting up a charter bus company, then you should draw up your budget.
There are several ways you can raise money to finance your business. You can approach your bank to apply for loans, you can raise money from your savings, you can raise money from selling your stocks, and you can raise money from investors, family members and from your friends.
3. Register Your Company and Obtain Your Business License, Permits and Insurance Cover
Once you have your capital intact and you know that you are good to go, and then the next thing to do is to go ahead and register your business. After registering your company, you can apply to obtain your business license, federal, state and local government permits and then purchase the required insurance for your buses and for your driver and bus administrators.
4. Acquire / Lease Buses
If you have enough capital, it is cheaper to purchase all the buses you would need for your bus charter company out – rightly, but if don’t have the kind of money needed to purchase fleet of buses, then you should look for a company where you can lease buses and spread the payment over a period of them. The bottom line is to ensure you acquire buses that are very suitable for the kind of clients you would want to transport.
5. Lease a Facility
You would need a facility large enough to contain both your administrative office and also parking lots for your fleet of buses. Be sure that when you are shopping for any facility, it will serve the purpose you want to use it for. The location of your facility is also very important. If it is located in the city centre, it makes it very easier for your buses to move around and then return to base after the day’s job.
Running a charter bus company means that you can’t do without hiring drivers. So ensure that you only employ drivers that can represent what your company stands for. Beyond hiring professional drivers, you should ensure that you make provision for training and re – training them at regular intervals. When hiring drivers, ensure that you conduct background checks to be sure they don’t have bad driving records and also ensure that they have valid driver’s license.
7. Source for Contracts (Business Deals)
There are many people and organizations that will need your services and it is your duty to market them. Parts of the people / organizations that you need to market are companies, churches, schools, sport clubs, et al. The truth is that it is cheaper for companies and some of these organizations to charter buses to convey their staffs as against acquiring the buses. It will save them money from logistics et al.