Do you want to
start a shipping company from scratch? Or do you need a sample shipping
business plan template? If YES, then the advice you read on.
With the
increasing demand for shipping services that provide reasonable prices and
promise convenience, speed and reliability, no other time could be better than
now by taking a plunge into the shipping business. The industry is growing and
rapidly changing — thanks to the growing dependency on online shopping.
However, you
must realize the fact that the maritime / shipping industry is highly capital
intensive and competitive. Secondly, starting your own shipping company
requires that you have in-depth knowledge of import and export procedures as
well as the shipping, container, and logistics industries in your country.
You also need to
know the rules for crew members to work on-board your vessels, how to operate
vessels inside and outside specific ports, how to handle dangerous goods and
other types of goods, and how to operate certain communication equipment on
your board vessel and many other legal.
You can start
your shipping company while working from home, but to succeed in the business,
you need to be well organized and have a sound client base. Shipping is an
industry with massive swings. And starting a shipping company requires not just
a lot of capital, but adequate planning. You need to get it right from the very
start in order to boost your chances of long-term success. Here are the steps
involved in starting a successful shipping company:
Starting a
Shipping Company from Home - Sample Business Plan Template
1. Learn more
about the industry
Before plunging
into the shipping industry, you need to analyze the market and keep yourself
updated with news regarding business by looking into trade publications,
financial reports, and consumer trends. This way, you will know the products
that have a great market within your country and those that have a great market
outside your country. Industry experts recommend that you work with a shipping
company to actually gain some understanding of how the business works.
2. Define which
goods you will deal with
Goods have been
classified into many categories, including perishable goods, dangerous goods,
illegal goods, and so on. And even though there are more-than-countable types
of products in the market (ranging from clocks or electronic parts to cars or
machinery), your shipping company can't deal with all kinds of goods.
So, you will
need to understand all product classifications and streamline your services by
choosing the specific goods your shipping company will be handling. In
addition, look for any available incentives by your state or federal government
that you qualify for.
3. Define your
business's identity
Decide on a name
for your business. An ideal business name is easy to remember and is suggestive
of what the business offers. You also need to develop a logo and set up the
legal structure for your business. You can contact a seasoned attorney or
financial advisor to help determine if your business should be a corporation or
a limited liability company.
4. Write a
business plan
Writing a
comprehensive business plan is one of the most important steps towards starting
a successful shipping company. Your business plan will include all necessary
factors such as business overview, your competitors, their skills and prices,
your target market, your unique selling proposition and core competencies, your
prices, your financial plans, your marketing plans, your funding sources, the
threats and opportunities in your country's shipping industry, and your exit
strategy.
A business plan
does more than guide you through the processes of successful launching and operating
your business; it presents your business idea to third-party funders such as
investors and banks.
5. Get your
funds together
As stated
earlier, starting a shipping company requires huge startup costs. So, you are
more likely to need third-party funding. Decide whether you want to adopt debt
financing or equity financing. Then contact third parties that are likely to be
interested in financing your business, such as small business loan agencies,
investors, venture capitalists, and banks.
6. Complete the
necessary paperwork
Register your
business with the appropriate local agency. In addition, you need to obtain all
the licenses and permits required to start a shipping company. This step is
very important, as you want to run into issues with the government after
launching your shipping company.
7. Find a good
location and hire employees
Since the
success of your shipping company hinges partly on your chosen location, you
need to find a good location. The site should have plenty of open land for
container storage and should have direct rail access. In addition, you need to
hire a manpower to work on-board your vessel and in your shipping office.
8. Purchase the
required equipment
To get your
shipping company off the ground, you need to buy containers, trucks, office
equipment and other equipment.
9. Develop your
corporate brand and market your business
Hire a graphic
designer to help you come up with a professional logo, which you can use on
your business cards, invoices, shipping labels, stationary, your website, and
any other thing that has to do with your business.
In addition,
hire a professional website designer to develop a website for your shipping
company. This will help clients find your business over the internet. After
developing your corporate branding, you can start hunting for clients by
marketing your business online and offline advertising medium.
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