A courier business is a company that moves packages from one location to another for a fee. Courier service is one of the fastest growing markets in India. Starting your own local courier business can be easy and quick, or it can be a slow and difficult process.
Moreover, It helps in connecting people from around the world. So Today Let’s learn about Courier Business in India so you can start your own Courier Business or Company in India.
Courier Business Market in India 2020
In 2018, the Global Courier Services Market size was 299100 million US$, and it is expected to reach 464300 million US$ by the end of 2025. Currently, there are approx 2300 courier companies in India. The Indian courier industry size is estimated at Rs. 14,000 crores.
It is one of the fastest-growing segments of the industry. In addition to, The industry is expect to grow at 17% per annum to Rs 20,000 crores in the next three years.
Here are some ideas to start your business easily :
1. Find Your Niche
Give your business a kick-start by establishing the niche you wish to work upon. If you live in a metropolitan area with lots of existing courier service businesses, this is an essential step. Even in a small town, it will give you a “quick start” to targeting your new customers.
Once you determine the niche, you can plan and make the business strategy for further steps. Talk to your prospects, whether they are lawyers needing same-day document delivery, or caterers needing prepared meals delivered every day at a certain time, to find out what they want, and then offer it to them at a reasonable price.
That’s the secret of success for any business – giving customers what they need or want.
2. Name and Legalize your Courier Business
Name shows values and mission of so take a unique name and catchy headline for your business. Make sure that the name is not already taken by another business and also check on Godaddy For domain.
Social Media marketing is a beneficial way to attract customers. Let people know that you can deliver a great experience which others can’t give. After you name your business you will need to set up a legal entity.
If you are the only owner of the business then Sole Proprietorship may be best. And if you have partners then LLC (limited liability corporation) may be best for you. You will need federal text information and other documentations also.
3. Choose Right Vehicle
To start courier Service you will need a reliable source of transportation to deliver packages. Choosing vehicle also depends on the size of packages you are going to deliver. So, choose a vehicle that suits the product size.
Many courier services choose Cargo vans for this type of delivery because they provide the largest amount or cargo space to transport the items. Other types of these vehicles are pick up trucks, lorries, bike etc.
4. Buy the right Equipment
Having the right equipment can make your business more efficient and fast. It can save your back pain of carrying boxes. For packing the products you would need cartons and boxes of different types.
This size depends on the type of items that you will be carrying for the customers. If you are delivering parcels or boxes then a simple dolly or hand truck is essential. Other equipment are cargo straps, moving blankets, tapes etc to make sure that the items are protected and delivered in same condition. GPS units and mobiles are also essential equipments.
5. Business Insurance
As a courier service owner, It is your responsibility to deliver the valuable items of customers. Therefore, you will need business insurance for your cargo vehicles, cargo insurance, and possibly liability insurance as well.
Having an insurance policy is also essential as it builds trust with customers. Contact a local commercial insurance broker to find out how much it will cost to insure your business.
You can also read : List of Best Many PTC sites (Get Paid to Click) in 2020
6. Marketing your Courier Business
Now that you have your vehicle, equipment, and a name for your courier service, it’s time to start marketing. Marketing is an essential tool for any type of business.
Market your business on social media sites such as Facebook, Twitter, Linked In, etc. Email marketing is also quite helpful to reach out to customers. You should create a business page on each of these social media properties. Online marketing and advertising on several platforms can also work in the favor of the business.
Most courier services will need to market other businesses who are looking for courier. This can be done by making list of the businesses that need courier services and then start cold calling, emailing or drop off your business cards.
7. Consider Monthly Expensespadding
If you want to run your business smoothly then must spend some time estimating what your monthly expenses can be. This information can be useful to decide how much to charge Customers.
Consider things like wages, marketing and advertising, utilities, and any interest you’ll have to pay regarding loan costs.
Related Post : Online Travel Agency : Start up Your Business
Why Do You Need to Have a Courier Tracking App For Courier Business?
- Courier tracking provides the complete process and ensures proper management.
- It brings Customer satisfaction.
- It helps users to get real time information easily of their package.
- Courier tracking system provides accurate delivery time.
Take a Franchise
In India due to lack of funds everyone can not open their own courier company even most of the Successful Logistics Startups learn about the Courier or Logistics industry by taking the franchise from other Companies and after the understanding about the Market, they are going with the Big Plans.
You have to require following things to apply any type of Courier company franchise in India –
- Legal Entity Setup with the Proper Tax Registration & License
- a Small Security Deposit which is vary and depend on the Courier Company
- Financial Credentials like bank statement or bank passbook
- Small Space for the opening your Franchise with the Agreement.
- Approval Letter from the Courier Head office.
Here is a list of Well Established Courier Company Franchise Opportunity in India –
- Indian Speed Post office Franchise Opportunity – Indian Speed Post office Franchise
- DHL Express Franchise – Read about the DHL Franchise Here
- DTDC Franchise – DTDC Franchise Here
Here are the Top 10 Courier Companies in India, which are well-established players
Yes, It is because by starting your franchise you can spend your time focusing on growing business and make it efficient.
The basic fundamental of the courier service is to receive fee for each items delivered like if 100 items are delivered to same place then the income ratio is much better than there was 1.
Stating courier service doesn’t demand a huge amount of money but it ensures high ratio of earning increasingly high. In addition to, The industry is expect to grow at 17% per annum from 14,000 crores to Rs 20,000 crores in the next three years. So, yes it is profitable in India.
Finally hope that this article is very helpful to you. Don’t forget to follow thetrendy business in social media for keep yourself update with our articles and business trends. If you have any query then do not hesitate to ask in comment section.
For Further Reading :
- Business with Amazon to Make Money in Low Investment
- How to Start a Holistic Wellness & Health Business
My name is Dhruv Vagadiya. I am an Indian blogger and pursuing the computer science field in L.D. College of Engineering.
I am the CEO of thetrendybusiness.com website. I like to write and aware you about different business ideas.