Community waste management is highly necessary to keep our environment clean, healthy and free from any epidemic. It is the responsibility of local authorities to collect waste from the community and then transport them to dump sites. This is necessary because if wastes are not properly managed by government, it can cause havoc in our communities.
The fact that government is responsible for waste management doesn’t mean that there is no private participation. As a matter of fact, some government find it very convenient to contract waste transportation to private companies as long as they are ready to work with the guidelines set by them; save cost for government.
For this reason, if you are thinking of starting your own dump truck business, then you should not only look for clients from the private sectors, you can also approach the government to negotiate for dump transportation contracts especially if you live in a community where they contract waste transportation to private companies.
Although, you are guaranteed to make money when you secure a contract to help local authorities transport wastes from one point to another, but you can also make good money from private owned businesses especially active players in the construction industry.
The truth is that construction sites most often require that debris be moved from the construction sites, to a government approved sites that is why you must position your dump truck company to work for the government and also private companies. It is important to state that although this kind of business can be highly profitable, it is capital intensive.
These are the tips that help you start your own dump truck company from the scratch and build it to profitability within record time:
Starting a Dump Truck Company – Sample Business Plan Template
1. Draft Your Business Plan
First things first; it is important that you sit down to come out with a comprehensive dump truck business plan. This is to at least, guarantee that you can manage your business properly and make enough profits from it to be able to foot all your bills and still have enough to save.
Although, most people would rather go ahead to start their own dump truck company without drafting down any business plan, but it will pay you a great deal to take the pain to come out with your business plan if you truly want to make good success from your dump truck business.
2. Register Your Company
If indeed you have the intention to get contracts from the government, then you must ensure that you incorporate your dump truck company. No government agency would deal with your company if the company is not registered. As a matter of fact, before you can even secure some juicy contract from the government, you will be required to table you tax clearance and you can only get a Tax payers ID for your company only if the company is legally registered.
3. Raise Start – Up Capital
You would quite agree that purchasing this dump truck can be very expensive which is why you must save – up or raise adequate start – up capital from either your family or friends. You can also obtain loan from the bank to finance your business if you have the required collateral. If your business plan is well written and saleable, you can convince investors to invest in your business.
4. Purchase Your Dump Trucks
If you have the required capital, then you should set out to purchase your dump trucks. You can start this type of business with at least a truck, but it would do you a world of good to start big by purchasing about 5 to 10 dump trucks with good hydraulic system.
Buying this truck requires huge cash, especially if you are buying new ones. If indeed you want to cut cost, you can choose to start with fairly used dumb trucks and then upgrade to new ones once you have the financial means. You can also make provision for proper insurance cover on all your trucks.
5. Employ Licensed Truck Drivers
Running a dump truck company requires that you employ licensed truck drivers to help you drive your trucks. When employing drivers, ensure that you only employ people who knows the available route in the community they are to work in, and also ensure that you do proper background check so that you won’t hand over your truck to a rough driver that can incur cost for your company due to bad driving or accident. If possible ensure that you personally train all your drivers before allowing them to enter the road.
6. Market Your Services
The good thing about owning a dump truck company is that your clients are not just restricted to the public sector; you can do good business with players in the private sector. What you need to do to effectively market your business is to pencil down all the contacts of those who might need your services, and then call them up to inform them about your business offerings and also request that they refer you to people who might also need your services. If you have the capital, you can advertise your business in both print and electronic media. You can also visit waste management board and construction sites to market your business.
If you are lucky to get a contract from the government to help transport dumps from the community to a designated dump sites, then you can be rest assured that you are able to pay your bills and meet up with other financial responsibilities.
Another area where you are expected to spend money aside from paying your drivers is the maintenance of your dump trucks. If you want your dump trucks to always be in top shape, then you must ensure that you keep to all maintenance schedules.
There you have it, the 6 steps that will help you to start your dump truck company from the scratch and build it to profitability within the shortest time possible.
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