Fleet Management

Written by Jennifer Red

Companies that use transportation as a main factor of doing business should consider how important fleet management may actually be to their success. The responsibility of vehicles is a big one, especially when they are a crucial part of doing business, but it is not something that should be left up to people who have a number of other responsibilities to handle. Maintaining the vehicle fleet is a full time responsibility and is not one that should be taken lightly by any responsible company. For this reason, fleet management should be considered a division unto itself.

Commercial motor vehicles are going to be a very important quality to your business. Many businesses will have a fleet of their own vehicles to make deliveries. This will keep their product moving and business running. Other companies will have a set of official company cars that their workers can use to travel around. No matter what the case may be with any given company, however, it will be important to have someone be particularly in charge of managing company cars because otherwise, you are just asking for disaster to come to one of your most expensive assets.

You will be lowering vehicle risk by having one person or division be solely in charge of the vehicle fleet of your company. They can be responsible to make sure that all of the cars are checked in and come back without damage. They will make sure that repairs and routine maintenance is always performed on the cars and other vehicles in a timely fashion. They can make sure that all related paperwork to these vehicles is filled out and properly filed and they will make sure that nothing is left behind. Those with responsibility of vehicles in your company will even be able to look for ways to save you money in regards to the vehicles in your company and they can look for ways to lower commercial truck insurance and give you the smallest amount of financial responsibility for these vehicles.

One factor that may be very important in regard to having a fleet management division will come in the form of driver management. Many different locations all over the globe are beginning to hold companies up to higher driver management standards. When accidents may happen on the road that comes from a driver of commercial motor vehicles, the companies themselves are being held partly responsible for the accident. This means that companies are being forced to properly train and screen their drivers before letting them on the road with a company vehicle. Lowering vehicle risk can be a very important factor toward being the safest company with drivers on the road.

Lowering driver risk in this form will be important no matter what type of commercial motor vehicles your company is using. Running motor vehicles that are typically used in construction jobs will be just as crucial as when you are using trucks to help deliver product to retailers. Unless your company and those who are managing company cars within your company can tell you at any given moment where those cars are and who is driving them, you do not have proper driver management taking place.

There are new tools available which can help those in charge of your fleet management keep track of where all of your vehicles may be. Satellite technology can help keep track of where any of your vehicles may be by locating them with imagery. Therefore, you will know where your vehicles are and can ensure that they are always being used in a proper business fashion. GPS technology can also be used when managing company cars, helping you to locate where these vehicles may be at any given time.

Of course, you may always run the risk of having parts of your vehicle fleet be stolen. This same technology can include a remote vehicle disabling system, which can help you make the missing vehicle unable to be driven anymore. Therefore, if any thieves take steps to steal one of your commercial motor vehicles, you will be able to prevent them from getting anywhere with it. Should you happen to lose any of your business vehicles this way, there are a number of resources that you could use to help get them back.

Commercial motor vehicles are no cheap things, which is why you are always going to have to do your best with lowering vehicle risk. Take steps to find the proper person to run your fleet management division. This will be someone who is good with auto parts, understanding when vehicles are not working properly and what to do about it. They will be business savvy, helping make sure that you are only hiring people who will work well with your type of driver management. Doing this will ensure that you have the best commercial fleet available.

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The Benefits of Having a Credit Card Terminal

In order to increase business and to maintain a steady flow of customers, having the ability to accept and process a credit card is essential today. Possessing at least one credit card terminal, if not many will be integral in the success and growth of your business. In today’s world, many do not carry cash or a checkbook with them and rely only on the ability to access their money through a bankcard or to rely on having credit to pay for all purchases.

Picking the right terminal may be the simplest of the problems that you will encounter when you go to install this type of program into your establishment. Many other obstacles will need to be overcome in order to properly be able to run and maintain a proper credit-accepting establishment.

Finding a company to work with as your liaison to the credit world is the first step to take. Simply putting a credit card machine on your counter does not allow you to be able to accept credit. You will need to find a bank that is able to process your transactions and will work with your company. This is not a free service, and there is in most cases, a fee for every transaction that occurs. This is how the bank you will work with makes money. However, it should pay for itself over time and quickly. This is because the ability to have a credit card accepted will allow customers the freedom to spend more and be more willing to come more often as they know the convenience of your establishment has increased.

Finding a way to get the service to run your credit card machine is next when it comes to providing this service. Using a provider via the phone is one option, or you can do it through cable as well. Another option could be with satellite. In any of these options for credit servicing a way of communicating with a bank or some other company to ensure that the funds will transfer is necessary. Communication between the card swipe and the financial institution is key in order for a transaction to actually occur. Determining which method to communicate is not necessarily a decision you will get to make. In some places, there is only one option where in other places there are multiple facets from which to choose. However, if the choice is presented the least popular yet cheapest option would be dial-up. This is the slowest option and does not actually help speed up service if this is the goal one is looking for. The other two options of hi speed internet and satellite are quicker yet more costly with one not really being any better than the other is.

There is also the need to provide software to your system in order to be able to use a credit card in your establishment. A program will need to be in place that will enable the registers to use both cash and credit as well as to allow you to track sales so you will not feel as if you are out money. This will enable the keeping of books and accounting to work as well. Some type of program that will integrate the card readers as well as the registers will be necessary to allow for this to happen.

Some sort of card reading device will be required in order for you to be able to use credit cards. Whether it is something that is free standing or if it is something that is built right into the registers that you use or some other variety it is a necessary piece of equipment. The reader that is purchased will need to be able to communicate with the type of service that you will be using to communicate with the financial institution that is approving the transactions. So you will need to make sure that it is compatible with the system as well as the communications you are using. It will also be necessary to work with your credit card software and your current computer system so as to be able to properly track all transactions that occurred.

Finally, a printer that is attached to the card reader will be necessary as well. All transactions done by credit card will need some sort of receipt printout. This will enable to purchaser to be able to properly track their expenses. It is also a simple common courtesy. There are some card readers that have a printer built into them already and there are also viable options for use of the printer that is attached to the current ringing system. As long as there is some sort of method to allow for a receipt then that is all that is necessary.

Having a backup to taking credit is important. Having a spare card reader, or a way to enter credit cards into the register manually is vital to your success as a new acceptor of credit. Determine which is your best alternative and possibly even have both to be able to not lose sales and to keep customers happy. It is something that may not be anticipated, but when not thought of, is when it will happen. So always, have a contingency for being able to take credit and bankcards.

So, in all you will need to somehow complete the logistical nightmare that was created when you first wanted to accept credit cards. Once, you have all of the pieces in place and the financing figured out, you are able to start the improvement of the business. The biggest concern is to make sure that all of the pieces that you have assembled from the credit card terminal on through the software to be able to use it all interact with each other properly and that you have a fully functioning system. Make sure that before the system is implemented that whoever will be using it and responsible for it is trained and prepared.

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Federal Grants and Loans for Small Businesses -2

SBA Loan Programs

  • Microloan 7(m) – created for nonprofit childcare centers and small businesses that need less than $35K for startup, expansion, or technical assistance. The loan is short term, and can be used to purchase furniture, fixtures, inventory and supplies, and more. These loans are not guaranteed by the SBA. The SBA guarantees a loam for a third-party; say a non-profit agency, who then loans the money to the small business. The funds from this loan can not be used to buy property or to pay for debt that already exists. This program is typically available in most states.
  • Basic 7(a) is an SBA guaranteed loan program that can be used for a small business. The money can be used for furniture, machinery, as working capital, and to buy land or a building. The loan typically reaches maturity by ten years if the money has been utilized to provide working capital for your small business. If it was used for fixed assets, ie real estate, then it can be extended to 25 years. This SBA loan is intended for both start up and existing small businesses.
  • The 504 is specifically geared to large purchases of land and buildings, machinery, and even for physical expansion or modernization of an existing facility. This type of loan provides small businesses a long-term and fixed rate through the CDC or Certified Development Company. The borrower is typically required to add 10% equity and the CDC will hold a lien on any collateral.

In order to be considered for one of these SBA loans you must have pre-qualified with the SBA before taking the request for money to the lender.

Surety Bond Guarantee Program

If you run a small construction business and would like to bid on a government job, you will find that you have to have a surety bond in order to get the business from any city, state, or federal job. The SBA provides the surety bond guarantee program to help small businesses who couldn’t pay for a meet this requirement on their own. You have to have the Surety Bond in order to bid on and win the business. Again, the SBA doesn’t directly issue these bonds but will guarantee the bond with a third party provider.

The SBA also offers other programs for small businesses. See here.

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