There are many things to consider when running a small business, one thing you can never lose sight of is how to save and manage the money that you spend better. If your business requires you to use a vehicle for deliveries, meeting clients, or any other business purpose you should consider a fuel card for your business.
Fleet cards are like credit cards, but designed specifically for fuel or gasoline purchases. They look identical to a traditional credit card but have several key differences that make them incredibly valuable to your small business. These differences offer you savings, security, and easier management of your fleet expenses. It’s the right card for your small businesses fuel and diesel needs.
First, they often offer savings at all gas stations or select stations depending on the card. Some offer unique terms for increased savings at off hours/days, which can amount to a big increase to your bottom line. Many cards offer over 10 cents a gallon off, if you’re filling a large delivery truck, or your corporate cruiser several times a week this will add up in a hurry. All businesses need to watch their expenses, but small businesses in particular really need to pinch their pennies and this is a great way to save your business money on their fuel card purchases.
The next big benefit of a fuel card is security for your expenses. When you have employees they can and all too often do charge things they shouldn’t when fleeting their work vehicle. From a little snack from the convenience store to far more egregious problems of buying lottery tickets, alcohol, and anything else available. We’ve seen traditional corporate credit cards used by employees at hardware stores to do projects for their homes. Bottom line, a traditional corporate card gives too much flexibility to employees and opens your business up to far too much liability. Fleet cards account for this by allowing you to restrict what purchases can be, namely fleet or gasoline in most cases, this way your employees can only use the card for your approve usage. A fleet card isn’t just another card, it’s the right card for fuel and diesel purchases.
Fleet cards also make managing your fleet, regardless of size, easier, which saves you time and reduces stress. Monthly reconciliation of the books becomes a breeze because all of your fleet purchases are in a single place. No more sorting through hundreds or thousands of purchases from your credit card provider, all of your fuel and fleet expenses are in a single place which saves you a lot of time and money on your gasoline purchases. It also allows you to determine if there is any theft at the pumps, filling up their own car, any out of the ordinary purchases, or any other theft that can take place when an employee is filling the fuel on a company vehicle.
It wasn’t long ago that the benefits of fleet cards were reserved for enormous fleets with hundreds or thousands of vehicles, now, any small business can get these benefits. Whether you are an Uber or Lyft driver, have a single food truck, are a Fedex or Amazon contractor, and the list goes on! If you use your vehicle for business you can start saving money and simplifying your business operations.
For growing businesses with multiple vehicles a fleet card solution is an absolute must for gasoline and fleet purchases. As a business grows it becomes increasingly difficult to manage and monitor all of the little things, and that’s when you open your business to a lot of potential losses. The checks and balances built into a fleet card ensures that gasoline purchases for your business are restricted to just gasoline. It’s difficult enough to run your growing business, the last thing you need are preventable headaches that will come up as you hire more people and grow your business. That doesn’t even touch on the savings you get on every gallon, these savings go directly to your bottom line. It’s the same fuel, it’s the same gas station, why not save money AND protect yourself.
The reasons to get a fleet card for your small business are clear, save money, protect yourself from theft, and make managing the books for your business easier. Now is the time to consider a Fuel card for your business.