Owning and Managing a Small Business Fleet: What Business Owners Should Know

Owning and Managing a Small Business Fleet: What Business Owners Should Know

Managing a small business is not always easy as there are so many things to do and juggle to ensure it runs smoothly. If you own a business fleet, managing it is also part of your responsibility unless you hire a fleet manager. Here are some things you should know about managing your fleet.

Managing Costs is a Significant Part of Managing a Fleet

Every business asset costs something to own, operate and maintain, and this also applies to your fleet. There are numerous costs associated with operating a fleet, including driver salaries, fuel costs, service and maintenance, replacement, insurance, and others. You should keep a close eye on these costs to ensure they do not affect your bottom line significantly. You can explore different strategies for reducing these costs that can net you significant savings.

Data is Your Friend

As a business owner, you should collect data on numerous aspects of your business. You need to collect data on your fleet and drivers to ensure you get all the benefits of doing so. Such data can tell you how much fuel a driver uses on a specific route so you can find ways to reduce it. It can tell you if a driver is aggressive on the road, making them more prone to accidents.

Data can also help you protect your business and its drivers. Having fleet camera systems installed can provide historical data and evidence in case of an accident. By reviewing the videos, you can see who was at fault, and proving you are not liable can save your business a lot of money and your drivers a lot of hassle.

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Maintenance Workflows Will Save You Time and Money

Every business should have maintenance workflows for their fleets, whether in-house employees handle their maintenance, or they outsource it to a third party. These workflows streamline maintenance and reduce downtime so that your vehicles are on the road more of the time.

These workflows also include preventive maintenance where services are scheduled at regular intervals. This type of maintenance gives employees or service professionals the opportunity to catch and repair issues before they become costly problems.

Lastly, these workflows allow you to keep everything organized, including records that help you instantly know the state of your fleet.

Follow Local Laws to Avoid Downtime

Following the rules and regulations set by the FMCSA, Department of Transportation, and other organizations that govern commercial vehicles will ensure they don’t put your vehicles out of compliance.

When they do so, they can fine your business and even ground the vehicle until all issues they have found are corrected, and the business provides a record that it has done this. To avoid issues, you should also follow all other local laws governing issues such as insurance for business fleets and driver competence.

A business fleet opens up numerous opportunities for small and growing businesses. If you have one or are thinking of investing in one, there are some things you should know regarding managing and operating one. This can help you run your fleet more smoothly, keep costs down, and ensure you comply with local, state, and federal laws.

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Shankar is a tech blogger who occasionally enjoys penning historical fiction. With over a thousand articles written on tech, business, finance, marketing, mobile, social media, cloud storage, software, and general topics, he has been creating material for the past eight years.