How to Start a GPS Locator Service
The world continues to shrink in size as the use of GPS tracking devices make it possible to locate just about anything moving from one location to another. This technology is abundant, and is commonly found in all the major items that are purchased by consumers: cell phones, cars, computers, machinery, appliances, security surveillance systems, search and rescue teams. The growth of this sector has been huge, and offers enormous profits to those who wish to start their own GPS locator service. Starting a business that provides GPS locating services is can easily be started from home. However, the business venture will require excellent planning and a long-term focus in order to make it successful.
Other People Are Reading
Things You'll Need
- Global-positioning systems (GPS)
- GPS monitoring equipment
- Monitoring station
- Business license
- Marketing materials
Instructions
-
-
1
Determine if it's better for you to start an independent business, or if a corporate franchise is more suitable. Franchises offer resources and training, but at a hefty price in terms of franchise fees ranging from $30,000 to $40,000 annually. However, if you already have industry experience and startup cash to begin as an independent, then that would be more preferable as you would have autonomy and flexibility when running your business.
-
2
Hire a lawyer to file the paperwork for incorporating your business. This will limit your personal financial and legal liabilities. Based on the type of company structure, the lawyer will determine whether it will be classified as an S-Corporation, which reduces double taxation on corporate taxes since it goes towards the shareholders, or a C-corporation, where profits are taxed separately from the owners' taxes.
-
-
3
Research the market demand, and decide what type of GPS goods and locating services your company will provide to its customers and clients. Partner with a distributing company that will supply the equipment on an ongoing basis.
-
4
Set up a physical location for your business, and get a business license. This business venue will serve two purposes: to sell GPS devices, and to serve as a 24-hour monitoring station for clients that use your locating services. A comprehensive display of GPS merchandise will be needed in the front sections of the business venue for those looking to buy the GPS devices as well as purchasing monthly payment plans. The back portion of the business should include a separate room for the 24-hour locating service that the business will use to track and locate missing items for its customers and business clients.
-
1
References
- Photo Credit searching image by dinostock from Fotolia.com
