While running a coffee shop might not be anything like starting a logistics company, both need a business plan to succeed.
The first step after identifying the type of business you want to start is market analysis. This will help you understand how the company will operate and what you need to start your business. For even the best ideas can be destroyed by a poorly planned execution. Turning to a business planning consultant will help you avoid making mistakes. Of course, it is better to double check if they have expertise in the area of business you want to start, i.e. logistics, deliveries, transportation.
About the Reviewer:
Jakub Babkins, a business plan consultant and writer at OGS Capital, has over ten years of expertise in developing strategic business plans.
You have decided to start a logistics company, what now?
Market research. Before running off to register a company, you need to know your market. So whether you choose to write your own business plan or turn to the services of an expert, you still have to start with research:
- What other service providers are operating in this area? What are your weaknesses and advantages in comparison to them? Is there room for another player? What can you offer?
- Are you opening a company that will do regional logistics or across borders?
- Which licenses are required by local regulation(s) and how can they be obtained?
- What kind of software will you be using for your demand planning, logistics, distribution..?
- Are you going to buy or lease vehicles and other equipment? What kind of vehicles do you need?
- Who is your customer?
- Where are you getting the start up capital, are you considering loans or grants?
Those are just a few examples of the many questions you will have during business planning. An in-depth understanding of the market will work for your benefit. Remember, there’s no such thing as too much market research.
To consult or not to consult?
You can easily find a logistics company business plan to use as a template for your business. However, turning to a business plan consultant will help you understand the strengths and weaknesses of your business and its potential. Moreover, an expert will provide you with insights into the trends of the industry over the years.A consultation can also improve your odds if you are looking to get a loan from a bank or a private investor.
