Start A Cash Transportation Service - Business Ideas

Updated: September 16th, 2022
Start A Cash Transportation Service

Please note that the data provided in this article are estimates and may vary depending on various factors, and should not be considered as perfect or definitive.

A cash-in-transit service provides convenience to customers who wish to transport cash between locations. The service is meant to safely ensure valuables and cash transportation, to save businesses time, and protect their staff if they had to transport money.

Starting a cash-in-transit business requires a van and staff to handle and deliver the cash to the destination. You may need a security service and an insurance cover in case you transport huge amounts over a long distance.

Starting a cash transportation service requires a great deal of effort, dedication, and most importantly passion.

If you're interested in how to sell cash transportation services, or selling cash transportation services online, you can use this page as a guide for everything you'll need to know.

Key Stats

market size
$11B
starting costs
$18.3K
gross margin
10%
time to build
720 days

Startup Costs

Min Startup Costs Max Startup Costs

Office Space Expenses

$0

$7,000

Employee & Freelancer Expenses

$151

$252

Business Formation Fees

$600

$5,400

Equipment & Supply Expenses

$63

$700

Vehicle Expenses

$2

$10,004

Retail Business Expenses

$0

$3,150

Inventory Expenses

$0

$5,000

Training & Education Expenses

$0

$2,000

Website Costs

$13

$215

Advertising & Marketing Costs

$75

$2,486

Software Expenses

$0

$225

Successful Businesses

Business URL Rank

Senior Service Business

seniorservicebusiness.com

1,629,825

MY PET CAB

mypetcab.com

3,538,655

Accounts Receivable Factoring Company

cashflowexperts.net

4,098,666

Celtic Transportation Services Hub

celtic.bz

4,161,558

Prosegur Home Australia

prosegur.com.au

4,196,350

Bus Charter Singapore

mybus.com.sg

4,492,863

HARDCAR

hardcar.com

4,786,769

Medical Marijuana

talaria.com

4,830,303

Home

pakistanisinkuwait.com

5,296,817

Cash In Transit & Security Guard

cashsecurity.com.au

7,213,028

ESTA

esta-cash.eu

8,759,333

Pros & Cons

Pros Description

Rewarding work

Starting a cash transportation service can be really rewarding work. After all, you are solving an immediate issue for your customer and you're working on something you truly care about.

High customer retention rates

Once a customer invests in your product, they've invested their time and energy to utilize your product/service which is highly valuable to them. Typically, your product or service becomes indispensable to your customer.

Gain exposure and experience

This career allows you to gain experience working for multiple different businesses - which will benefit your resume and also keep things interesting for you!

Daily physical activity

Cash Transportation Service's typically involve a much greater degree of movement than other lines of work. Most days, you will spend your day walking, running errands for your business, and performing a multitude of tasks. This can have a positive impact on energy levels and your overall health.

Face to face interaction

If you are the type of individual that thrives on human interaction, then this is the business for you! With a cash transportation service, you will be hands-on with customers and or employees every day.

Strong Demand & Relatively Recession Proof

The demand for cash transportation service is increasing year over year and the business is known to be relatively recession proof.

Cons Description

Motivation of employees

If you plan to have a sales/content team on board, finding creative ways to motivate them can be a challenge. It's important that you're able to offer great incentives and a good work environment for your employees.

Security Issues

With any Saas business, data loss and security issues may arise throughout your process of building your product. It's critical that you understand exactly what you're responsible for and how to avoid potential issues down the road.

Low margins

The gross margins for your cash transportation service are typically around 10%, which can make it more challenging to incur new expenses and maintain profitability.

High employee turnover

In the cash transportation service, employee turnover is often high, which can be quite costly and time consuming for your business. It's important to try and avoid this as much as possible by offering competitive pay, benefits, and a positive work environment.

Lack of benefits

With a cash transportation service, you are typically self-employed and responsible for finding your own insurance, which can be quite costly and time-consuming.

Isolation

Often times, as a cash transportation service, you typically work alone and do not have much face-to-face interaction with other team members.