How to Start a Trucking Business. Starting your own trucking business can be both beneficial and extremely hard to do. As with all the benefits of owning your own business, there is huge potential for income and expansion; but starting a business and having it succeed past the first two years is extremely hard. There are many versions of independent trucking companies. This article will walk you through starting and managing a multi-truck trucking business.
Write a complete business plan including what type of trucking company you are starting. The most common is a company that offers hauling or moving items for other companies.
Figure out where the start up money is going to come from. Do you have savings? Do you need a loan? This is the single most important step in starting a new business. You must also plan for operating expenses for the first three months.
Get all the appropriate business licenses and permits. These include Fuel Tax Reporting, USDOT numbers, 2290's, IRP tags, MC numbers and IFTA decals. Get the required insurance that you will need to operate your specific type of business.
Build relationships and start networking for clients. This should include cold calling, attending conferences and creating a great marketing plan.
Hire extremely qualified truck drivers. You may want to consider hiring owner-operators as this will cut down on your cost by not having to buy a fleet. Do extensive background checks on your drivers before hiring them. There will be nothing more detrimental to a new trucking business than a bad accident or any kind of incident with an unprofessional driver.
Research every legal area you need to cover carefully, so you don't forget a permit, license or registration fee anywhere. To make this easier, hire a business consultation company with experience in trucking to help with the process.