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Getting ready for the big '0'
Page 74
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Rob Salter kicks off our new diary series. Each month, he'll describe how he and his two-yearold Midlum are faring in Telford, Shropshire...
Giving up a decent salary company car, pension — you must be mad." "I wish I'd have done it when I had the chance" "If you need any help give me a call" I've had all this and more said to me in the few weeks since I decided to set up my transport company. Last November,' began putting the initial figures together.At the time,I was working as a transport manager for UCI Logistics at Derby. It's a good employer but,like many people who work for bigcompanies,I had come to the stage where I'd progressed as far as I could.
Many setting up in this industry are ex-drivers and they perhaps approach the business in a different way to me. I personally feel you need to judge the market; it isn't just about a shiny truck and pens with your name on.! spent several days driving round industrial estates to see who was doing what and what vehicles were being used. And not only did! see very few attics, but! also saw large numbers of smaller vehicles.
My mind was made up: light haulage. I had three reasons for choosing 7.5-tonners. Firstly, I could drive one myself on a car licence. Secondly, if I were to employ drivers, the hourly rate would be cheaper. And finally, I felt I would attract more work (at UCI, there were times when we were using 7.5-tonners as if they were going out of fashion).
But — and there's always a but — there was a lot more to setting up than! first thought. Parking, Operator's Licence. insurance, vehicles,bank accounts... the list goes on.
Lloyds TSB was very helpful, with a business manager who understood the transport industry. With the bank account and parking area arranged, I applied for my 0-licence. I found the application simple to complete and after a visit to the traffic area office at Birmingham,my interim licence was issued.
161 Logistics was nearly ready to start; the only thing I needed now was a truck .This was the most nerve-racking part of the enterprise to date. If things went wrong, I would be left with the balance of a loan to repay and the last thing I wanted was to risk the roof over my family's head. After looking at various lease and hire options, it was suggested that! talk to a Renault dealer as there were some very good finance deals to be had.
After spending a morning with Dave Watts at Staffs CV,I was converted to buying. Dave was very helpful,not only in finding me an excellent two-year-old Midlurn but also with advice on running costs While all this was going on, my three-month notice period with UCI was coming to an end. It was then that the operations director approached me to work part-time on a self-employed basis. I agreed to do three days a week—the money would come in very handy, although it made me a little bit lazy getting things off the ground.
Three days at work and two days with the kids meant! didn't act as quickly on things as should have done.
At last. I have my truck,VAT number, fuel card, tyre account, 0licence, bank account, insurance, accountant, a filing cabinet full of papers, and a few more grey hairs.
And now it's time to start working the truck. It's going to be an interesting few months.