How To Start Trucking Business In Usa – The trucking industry is full of opportunity—and can be very lucrative for those who do it right. But how, exactly, do you start a trucking company?
Let’s take a look at everything you need to know to build a successful trucking company.
How To Start Trucking Business In Usa
Before we jump into how to start a trucking business, let’s consider why you might want to consider starting a trucking business. Is this a good reason why you should consider getting into the trucking industry? Chances are.
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According to statistics from Business Insider, 80 percent of all US freight is transported by truck — which is four times as much freight as the next four modes of transportation (air, road, rail, and water).
. And when more cargo is transported by trucks it provides more opportunities for entrepreneurs who want to enter the trucking business; Currently, the trucking industry is worth $726 billion – with revenue expected to grow 75 percent by 2026.
And it’s not just a business that stands to make more money; Trucking owners also pull in the highest salaries, with the average owner-operator earning $141,000,000 a year.
The reality is that starting a trucking company is a great business opportunity. But how do you go about starting your own business?
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The very first step to starting a trucking company? Determine the type of truck you want to start. The type of truck you want to drive will dictate the entire process of building a business—so it’s important to know exactly what type of business you want from the start.
Not sure which trucking company you want to pursue? Here are a few questions you’ll want to ask yourself:
Once you know what type of trucking company you want to build, it’s time to make a plan for how to build that company—which means developing a business plan.
To use a truck, think of your business plan as a road map; you’re a driver—and your business plan is going to give you direction on how to get from where you are now (someone with an idea for a trucking company) to where you want to go (a business owner with a growing truck empire).
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But what, exactly, do you need to put in that card? Your business plan should include a detailed understanding of how you plan to start, grow, and manage your business, including:
A business plan takes time, energy, and effort. But it’s an investment in the long-term success of your trucking business—and certainly before you start your business.
Once you have a plan for your trucking company, it’s time to take care of the legal side of starting the business. So, what does that mean? The steps you’ll want to take to legally set up your business include:
To start your trucking business, there are certain licenses and permits you will need to secure, including:
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The licenses and permits you will need will depend on your business and location; be sure to research the licensing and permitting process in your area to make sure you have everything you need to get your business up and running
You can rent or buy your own trucks (including used trucks) – but make sure the trucks you secure for your business have the right equipment. (For example, if you are going to be transporting very large items, you want to make sure that the bed of the truck has enough space to accommodate the cargo).
At this stage, you should also look for any other equipment or supplies you need to run your business – for example, office equipment, training equipment, or payroll and employee benefits.
When starting your trucking business, you’ll likely be wearing many hats; for example, you can drive a truck, manage business development, and handle all the financial and administrative tasks needed to grow your business.
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But as you get older, you’ll probably want to find a team. Depending on your business/goals, this may include:
Make sure that, when building your business, you use people you trust to represent your business and your brand – both on the road and with your customers.
You’ve done everything in the background to get your trucking company ready to go. So the last step in the process? Going out and looking for customers to work with and carry loads.
Now that you know the steps you need to take to start a trucking association, let’s talk about what you can expect it to cost you.
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Total cost to start a trucking business: $7,000 – $25,000,000 plus driver wages, insurance, and operating costs
Remember that your business costs will vary; while these numbers provide a ballpark for small trucking operations, Continue Truckin says a large operation may need up to $5 million to get started and run.
As you can see, there are certain costs associated with starting a trucking business. But what if you don’t have the money to pay those costs? Can you start a trucking business?
Unfortunately, no. Like any business, you’ll need startup capital to get your trucking organization off the ground—whether that’s money from investors, a business loan, or your own bank account.
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Now that you know how to start a trucking business—and what steps you might need to get the ball rolling (or, in this case, trucking—the big question is: how to start a long-term profitable trucking business?
Your business’ profitability will depend on the amount of money you bring in and the amount of money you spend to run your business – or, in other words, how much you spend per kilometer you drive and how much you charge your customers per kilometer. If you’re charging your customers per mile more than the cost of driving, your trucking business will be profitable – but if you’re charging your customers less than your cost, your company is going to be in the red.
It sounds basic, but if you want a trucking association to make money, make sure your prices more than pay for your operations; if they do, you’ll be more profitable with each move. But what if it isn’t? Each trip will get you further and further out of debt.
The idea of starting a new business can be daunting – and it includes business in the trucking world. But now that you know how to build a successful trucking/freight business from the ground up, you have everything you need to start a trucking empire. So what are you waiting for? Get out and get a truck!
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Your introductory email needs to pack a lot of information into small packages. Try something like this:
My name is John Doe and I work at ABC Agency, where we provide business insurance to many of Dallas’ small businesses.
Congratulations on your new business, Jane’s Bakery. Wondering if you have all the insurance you need? Or if your policy will actually cover you?
At ABC Company, we’re proud to offer a robust, comprehensive distribution system for companies like yours with flexible, pay-as-you-go plans.
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Are you available this week to talk more about how we can help? I can help you find the cheapest rates and best policies out there.
Once you meet your customers, a quick response and their quotes will get the ball rolling.
Thank you very much for meeting with me this morning. I used to love walking around Jane’s bakery – I can still smell the delicious chocolate fudge baking! You have a great place, and I’m sure you’ll do great at St.
After reviewing my records, I have put together an insurance policy for you (attachment). I recommend the business owner’s policy. BOP covers several insurance products in one: liability, property insurance, and business interruption insurance. It offers great coverage at a competitive price.
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I will call you in a few days to see what you think of this insurance plan. In the meantime, if you have any questions, don’t hesitate to email or call me at [phone number].
Thank you for choosing a business owner policy with ABC Agency. We know how important it is to get the right insurance for your business, and we’re glad you trusted us.
We are very happy to work with you, and our no. Goal 1 is to ensure that the business is always protected.
A welcome email helps customers feel that you’re there to help – and can slowly lead to other insurance products you offer.
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Welcome to the ABC community! We are thrilled to have you as a new customer and can’t wait to serve all of your insurance needs.
As an independent insurance company, we work with many insurance carriers to find the best coverage for all of our clients. If you need other types of insurance – such as [insert additional offerings specific to your company, such as life insurance, health insurance, home insurance or anything else] – we can help you too.
Hope all is well with Jane’s Bakery. I stopped yesterday
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