In our previous blog “What does it take to expand your fleet” we mentioned two crucial parts, which are the quality of the truck and trailer you acquire and finding a partner that offers flexible financing programs that will allow you to expand your fleet while maintaining financial control with ease.
In this blog, we will examine what to consider before expanding your fleet.
You have reached a point in your business plan where you feel it’s time to expand your fleet. Now you should consider several things to ensure your success in this new venture.
First, think about how many trucks you need to expand your operations while still maintaining a successful, profitable, and safe business. Your trucks are your main source of income, so you need to make sure you are not compromising when it comes to their safety and maintenance. Expanding your fleet also means finding new drivers, insurance coverage, and adding administrative support. When you are ready, Impel Union can assist you with all aspects that the expansion of your fleet entails.
Second, think about leasing or purchasing your new trucks and trailers. As an owner-operator or a small-to-mid-size company, you have the option to purchase or to finance lease your new equipment. Both have their merits. Take the time to assess the advantages and disadvantages of each option before arriving at a final decision.
Finally, think about the maintenance costs of the new trucks and trailers. Every new piece of equipment needs to be properly maintained and serviced to get the best return on your investment.
Remember, the main question you should always ask yourself is where to find the best deal for what you need for the price that best works with your financial position. At Impel Union we pride ourselves on our customizable programs and payment schedules that suit your needs.
The path to growth is only certain when you have done your proper due diligence before taking any actions. Just remember, slow and steady wins the race. And with Impel Union by your side, we guarantee growth and victory for your business.