Do you want to start an inland water way transport company? Or you need a sample water way transport business plan template? If YES, then i advice you read on.
It is true that water transport may be slow and perhaps unsuitable for passenger movement. However, it is also a known fact that inland waterway transport service can also be an efficient means that relieves pressure on a country’s rail and road transport infrastructure. It is advantageous in terms of costs of moving heavy traffic, especially where cost is a major focus.
It is especially advantageous in the transportation of plenty of agricultural products through the waterways and verse versa, and this can have a tremendous effect on the quality of life of the people. For instance; it helps in bringing about a fall in food prices. It also plays a fundamental role for the importation of raw materials through the ports in the country. The same route can also be maximized for exports.
If you have been tinkering with starting an inland water way transport service and do not have an inkling about how to pull things off, then you may as well consider the tested and trusted tips in this article. These are steps that have been used by those who have built successful inland water way transport business. Now, here are the tips to be followed….
Starting an Inland Water Way Transport Service – Sample Business Plan Template
This is a fundamental role that you have got to play if you want to start a business that would stand the test of time. It is true that all businesses go through teething period and the inland water way transport business is no exception at all. This is why it is significant that you start this business on a research note. The internet can play a very major role in this regard. You would need to read up a lot about this industry.
Be sure to look out for details like which are the major players in this industry are, how they fund their business, what it takes to start this type of business, and what have you. If you aren’t satisfied with the type of information you get, then you can take it some notches higher by reading books. You may consider the local libraries, as well as book shops.
Now that you are getting abreast with information, then you can consider learning a lot about your competitors. Know who they are in the industry, know what makes them tick, how they have been able to survive over the years, how they get their funding, check to also know if they have any backings from the presidency or government of your country. This is a great step to take as you can capitalize of the successes and failures of these people to build a better business that would be the cynosure of all eyes.
3. Get Trained
This is very vital especially if you do not know a thing about this industry. You cannot just start this trade without first getting trained in this regard. As a result, you have got to stay under the tutelage of an expert who is able to teach you about how many kilometers of water ways there are in your country, how many states are linked by water, as well as the population of people who find moving cargoes and badges fascinating and worth patronizing.
4. Get Some Certifications
It is worthy for you to note that there are schools that offer courses in this regard. You may consider enrolling at this type of school and taking the exams. This means that once you are certified, you are able to have garnered vast knowledge that would help you start out well.
5. Register Your Business
This isn’t a type of business that you can possibly start without first getting it properly documented. It is important that you do all the documentation before you get started. You can check at the office of the chamber of commerce in your country, or the corporate affairs commission to see how things are run. Do ensure that you complete all the forms given to you adequately by supplying the necessary details about you and your business.
6. Get Partners
Unlike other types of businesses, this may not be a type of business you can start without first getting partners. It is also important that your partners are those who are already vast in the industry. This is a significant step to take as you would need the input of these experts to run things better. You may need one or more partners. However, the onus lies on you to decide.
7. Get Licensed
After that has been cancelled off, then you would need to get the appropriate business license to operate with. Do note that without this license you may not operate. On the other hand if you do decide to operate without a license, then you may be risking your business to be clamped down by the inland water ways authorities. Therefore doing things the right way is top priority here.
Starting this type of business and successfully building it isn’t a child’s play. It is for that reason that loads of funds is spent to make everything work out pretty fine. Therefore, it is vital that you know how to pool the funds you need and from the right source.
You may consider getting a loan from any of the banks in your country or at the micro finance bank. There may also be some rich family members and friends that may be willing to support you all the way. Do note that running this kind of business may run well into multiple thousands of dollars.
9. Procure the Jetties
By now, you may have been able to get the funding that you need for your business. Therefore, you can now procure the jetty you need. One of the ways to get these ferries is by searching through the net to get the dealers that deal in fair prices.
10. Hire Operators
It is important that you hire It is also important that you have devoted employees who are able to render resourceful services. This is so that there is no concern of accidents on the high sea. Be sure to hire experienced ones that can help drive your business to a great height.
The next port of call for you after you may have hired workers and business have commenced, you can then begin to tell all and sundry about your business. You can use the word of mouth mode of advertisement, or better still you can advertise via fliers and the newspapers.
The inland water way transport service is such that have not been totally tapped into. Therefore the onus lies on you to make the best of this venture.