After investing money in opening a plumbing business, you're going to have to make some decisions soon about fleet vehicles. This can become more challenging than you think, especially when you have to decide whether to lease or buy.
Vehicle leases are popular for their short-term nature and reliability. Sign up for two or three years, make your payments, and your car, or fleet, is covered. Not only is it relatively simple, but lease payments are generally cheaper—last year the average lease payment was 18% lower than the average new car payment.
Those of you with new home service businesses know your fleet vehicles are going to spend a considerable amount of time on the road. If you've already made a decision on leasing or buying those vehicles, you still have more decisions to make.
Perhaps you've realized the best route to acquiring fleet vehicles in your electrical or plumbing business is to lease. While you've calculated this as the best financial plan, what other options do you have to save even more money?
When you're getting ready to lease vehicles for your business, you need to consider where you are going to go. There is the option of going directly to a dealership or working with Wilmar. Many businesses don't think twice and go to a dealership because it is what they know. However, they are inevitably disappointed by the entire experience. This is why many businesses are learning about Wilmar.
For small and mid-sized businesses with fleets, there are few topics more pertinent to the long-term financial health of your company than fleet safety. Even with the best possible preparation, accidents happen. A safer environment for employees and motorists on the road is beneficial for every company that operates a fleet of any size.
Fuel cards have historically been one of the most challenging aspects of fleet management. You have to send your team out with enough money to refuel whenever that becomes necessary. However, just giving drivers a stack of cash and sending them out into the world isn't exactly secure business.
Those of you starting a home service company that requires fleet vehicles may wonder how you're going to find enough capital to invest in these trucks. The typical cost of buying fleet vehicles is considerable when you factor in the maintenance involved, not including hiring fleet managers to monitor everything.
Topics: Vehicle Leasing
Photo via Daniel Arndt/Flickr.
Estimates indicate that over 400 people may lose their lives and nearly 46,000 may be seriously injured while on the nation's roads this Memorial Day Weekend, according to the National Safety Council (NSC). For commercial fleets, safe driving messaging should start in the workplace, according to the council.
Those of you starting an electrician, plumbing, or home service company may realize buying fleet vehicles is out of the question at the moment. Even if you think you could still pull off an investment in your vehicles, don't attempt it if you don't have metrics on potential ROI.