A Few Things To Know Before Starting A Minibus Business
If you’re considering buying a minibus to start a business, there are a few key points to remember as you begin your journey.
When it comes to starting a business, there are so many different directions that you can go in. Given the recent popularity of companies like Uber, something that might be worth considering is some form of ride-share service. How do you do this in a way that sets you apart from your competitors, though?
One option is to start a minibus business. However, if this is your plan, there are a few things you’ll want to keep in mind.
License
The conditions for driving a minibus are different from driving a normal car. You might be able to drive a minibus with up to 16 passenger seats using your current car driving license as long as there’s no payment from or on behalf of the passengers. But for your business, you’ll be aiming for payment and plenty of passengers. For a commercial minibus, you’ll need to apply for a minibus provisional entitlement and a public service vehicle operator license – both can be found here.
Insurance
Insurance is absolutely critical – it ensures that should you or your passengers be involved in any kind of accident, you’re all compensated. Each minibus business is different, so you should aim to speak to a trusted provider. Tell them your precise situation and work out a bespoke deal that suits you.
Capital
Do you have the finance to get this business up and running? Beyond just purchasing your minibus (or even a fleet) there’s the staffing costs, the insurance and fuel to consider. Make sure you budget thoroughly before starting the business – and ensure that you have the money to make things work. It’s a profitable business, but one that needs capital to begin with.
Strategy
Planning how to become profitable is a key step. Have you identified a niche you could capitalize on? Or is there a huge demand for minibus services in your location? To succeed make sure you have the right contacts and clients prepared before you begin and have a business model that makes logical sense.
Starting a minibus business is an exciting adventure. But to avoid any mishaps, follow the tips above and give yourself the best chance of succeeding.
