How to Start Trucking Company
The trucking industry is highly competitive field. Those wanting to start a trucking company may find it can be a challenging goal. The opportunity to achieve this goal is possible with hard work and dedication. The following steps will guide entrepreneurs ready to take the plunge into the trucking business.
- Determine the type of trucking company to start. There are quite a few options available to those wanting to start a trucking company. Some trucking companies use sub-contracted drivers and others chose to use privately owned drivers. Using sub-contracted drivers will lower cost to you as the business owner. Trucking company owners may find that equipment costs are lower because the drivers own their own trucks, insurance cost and start-up cost also tend to be less expensive then using privately owned drivers. Privately owned drivers use trucks owned by the company. The owner covers all insurance and equipment cost. Decide if the trucks will transport items locally, in state or across the country. The trucking company owner will also have to decide which types of goods will be transported.
- Acquire financing for start up cost. Starting a business has many cost associated with it. If you do not have 100% of the funds available to start the trucking company you will need to seek financing. Obtaining loans or finding private investors are sources for funding need to get the company started.
- Obtain all required business licenses and permits. Trucking companies must comply with federal and state regulations. Make sure to apply for all business licenses and permits, which will allow the trucking company to operate legally. Comply with all tax and insurance requirements at mandated by the federal and state government.
- Advertise your business. The trucking business is very competitive. You will need to network and let consumers know you are available for business. Make sure your drivers have clean driving records and complete all hauls in a safe and timely fashion. Establishing a good reputations will help the company obtain additional customers and help the business grow.