There’s no better time than now to make a name in the shipping container industry. After dealing with challenges brought about by the crash of the financial market back in 2008, the industry is starting to better weather the storm. In fact, the container shipping segment is forecast to see a net fleet growth of as much as 3.1 percent in 2017. This growth rate is significantly higher, considering it only grew by around 1.1 percent in 2016.
With the industry gradually regaining its momentum especially in areas such as Houston, Dallas, and Seattle, it’s a good idea to introduce yourself as a new player in the market. This gives you a chance to meet possible clients in the industry so you can capitalize on the growth of this business.
That said, there are certain important things to keep in mind when opening your own shipping container business.
Open a Bank Account as Soon as Possible
Without a company bank account, there would be no way for you to accept any wire transfers from your new customers. Without one, paying you might become quite an inconvenient process for them and they may just opt to deal with more established companies in the industry.
In order to open a bank account for your new shipping container business, you would need to obtain a business address first. At the same time, you would also need to apply for your Employer Identification Number or EIN. Both of these information will be required when you meet with the bank.
Have a Merchant Account Ready to Go
Aside from being able to accept wire transfers, it would also be best if you can process debit cards and credit cards to make the transaction even more convenient to all of your customers. Make sure that you set up a merchant account after you open your bank account.
Purchase a Shipping Logistics and Tracking Management Software
Especially as your business grows, it would become increasingly hard to keep track of everything. For this, you are going to need a shipping logistics and tracking management software that helps you keep track of all the shipping containers in your inventory. Not to mention, it also allows you keep your customers updated as to where their shipments are in the pipeline.
Check If You Have a Rail Spur
Rail spurs refer to a rail line that’s located directly on your property. If you don’t have one yet, contact the railroad or your local economic development authority about it. They shall assist in having a rail spur built on your property.
Keep these in mind and your new shipping container business should be up and running in no time. Meanwhile, to help maximize your visibility in the industry, it also helps to participate in various trade fairs and exhibitions. This will expose you to potential customers and hopefully, attract more business. This way, slowly but surely, your shipping container business will definitely grow.
Sources:
BIMCO outlines shipping industry outlook for 2017, americanshipper.com
How to Start a Shipping Company With Containers, ehow.com
