54% of small and medium-sized enterprise owners need to use their cars, trucks or vans for business activities, according to a recent Manta survey. The need to purchase or lease a vehicle may end up being inevitable especially for businesses that offer goods or services. The acquisition of raw material, day to day supplies and timely delivery of finished products require the constant availability of a means of transport.
That said, using cars or trucks that have the best cost-optimizing insurance cover will help your business flourish. Whether you have one or a fleet of vehicles, there are many benefits to investing in a good business vehicle.
1. Cut Costs
This is perhaps one of the most noticeable impacts of getting a vehicle for your business. By buying or leasing your own business car, be it new or used, you can cut down costs of having to hire delivery personnel to run errands, putting into consideration time, security and weather.
Due to large commuter numbers, public transit has become very unreliable and more business owners prefer to use their own vehicles. A business car means you no longer have to rely on anyone else who might charge hefty fees to deliver goods or transport staff from one point to another, thereby helping you to cut on costs.
2. Time Saved On Deliveries And Acquisitions
Business owned vehicles do not have to make stops at any point other than the designated arrival destination point. This greatly saves you the time it would take to hire a public means of transport that would most likely pass through high traffic to pick up and drop other clients and their packages.
Your business vehicle can get to various targeted destinations. This will go a long way in improving your delivery services and keeping your customers satisfied and coming back.
3. Efficiency In Day To Day Activities
The comparison between public means of transport and your very own business vehicle differs not only because of time, but also efficiency. Take, for instance, the delivery of equipment from the port to your business place. Despite the freight charges you incur, you risk shipment delays from overbooking, bad weather and lack of personnel, containers, and vehicles. This means that you lose on the time it would take you to send a driver in your business truck by about 3-4 days or more depending on the distance to your address.
Unless your equipment is too large to handle in terms of its transportation, you should cut back your losses and always have a business truck available for such instances. Even though you will incur fuel costs, your business will be able to run smoothly and efficiently.
4. High Productivity Levels
Efficiency in day to day activities means that your productivity levels will increase and targets will be met on time. Every business has to have a strategy to make sure its goals are met by the end of a financial year. Business vehicles ensure that every need of each sector of the business from suppliers to customers are met and in good time.
5. Versatile Uses
A business vehicle is not only used for errands and appointments, but also other emergencies in the workplace. You may find that at one time, say during a fire, business trucks on standby may help to safeguard your property temporarily, making them unquestionably useful. You are also able to make passive income by putting out your vehicle for hire by other businesses.
Investing in a business vehicle is a big decision that will prove worthwhile for your business. Maintenance costs can be reduced by regular servicing of your vehicle. The use of technological advancements such as IoT diagnostic tools and gadgets will help you keep track of the state and condition of your business vehicles. This will reduce the chances of unforeseen breakdown costs and help you take less traffic-jammed routes to save you time and money.