Tips, Insights, and Resources for Starting a Trucking Business
You’ll find a lot of resources related to starting and running a trucking business.
I won’t get into the details of how to start your business because you’ll find those steps in the resources.
Instead, I will focus on important issues you’ll want to consider before you get started.
Points to Consider Before Starting a Trucking Business
Pros and Cons
Every business has pros and cons. Let’s go over a few for a trucking business.
PROS:
- This business can be very profitable with the right contracts.
- The business is expandable.
- If you have a fleet, you make money while you sleep.
- Cash flow for this type of business is high.
- Sometimes there is an opportunity to make money on return loads known as a Backhaul.
CONS:
- Spending a lot of time in a truck cab.
- Always on the road.
- You can only drive so many hours a day.
- Depending on where you deliver, there are many transportation-related permits.
- You’re always pressed for time. You need to load, depart, and unload, on time, and you don’t have full control over these issues.
- Stress during traffic jams.
- High competition for the best runs.
- Purchasing trucks are expensive.
- You need to have work. If not, your making payments on a truck with no income.
Are You Suited for This Opportunity?
There are thousands of business ideas to consider. From my experience, it’s important to get into a business that you’re interested in.
Creating a successful business takes time. It may take you 3 to 30 years to get the level of success you want. It’s important to consider that it may take you that long. Can you see yourself in this business for the next 30 years? If you’re answer is no, then what do you see yourself doing? Should you be focusing on that, instead?
Having passion and determination towards your business will give you the drive to succeed. When you are determined and have passion, you’ll find creative solutions when problems appear. Without passion, you’ll look for an exit strategy as soon as a problem peaks around the corner.
For more see, Passion – An Important Key You Need to Succeed in Business.
Do you have The Necessary Skills?
Do you have the skills to run a business? Do you have the skills to operate a truck? I’m a strong believer that if you do everything yourself or hire people, you must know every aspect of how your business operates from a-z.
The good news is if you can learn the skills you’ll need. Some skills you’ll need before you start, and others can be learned as you go.
For example, if you’re an experienced trucker but lack business skills. In the beginning, get business advice from someone with experience that you can trust. For more, How to Run a Business – A Quick Look Into Skills You’ll Need
Will You Do All the Work Yourself or Hire Employees?
Have you considered if you will operate your business all on your own, or will you hire a crew? Depending on your plan and startup fund, this type of business can be started by yourself, and you expand when the opportunity exists.
Another plan is you can hire owner operators where you can act as a broker. For more see, The Pros and Cons of Running a One-Person Business.
Is There a Demand for Trucking in Your Area?
With any business you’re going to start, you’ll need to identify the demand for what you have to offer. When there is a demand, you have a chance to succeed.
One thing to keep in mind is, even if there is demand, it doesn’t mean you are guaranteed success. Many factors determine success in a business.
On the other hand, if there are too many trucking companies in the area, you could be dealing with a saturated market. To compete in a saturated market, you have to bring something new to the market that customers want or improve the current services. For more on this topic, see, What Is the Demand for Your Products and Services?
Your Location
There are a few options to consider in terms of your location. Here are a few.
Home: You can run this business from home if you’re planning to start your business as a one-truck operation where you’re doing everything yourself. For more see, The Pros and Cons of Starting a Business From Home.
Commercial Location: If you’re looking to run a fleet of trucks, you’ll want to operate from a commercial location. You may even want to have a warehouse and an area to repair and maintain trucks.
What Type of Company Structure Will You Setup?
There are different types of ways to structure a business. It comes down to liability, taxes, and perceived value.
Starting out as a sole proprietorship is the easiest to establish but has the most liability. For example, if there is a lawsuit against your business, you and the business are considered the same. Therefore you could lose your personal assets.
If you set up a corporation, and a lawsuit is filed against your business, your personal assets are protected. A corporation is a separate entity. For more details on this important step, see How to Register Your Business.
Startup Cost
To determine your startup cost, you need to decide on the following:
- Will you run the business on your own, or will you hire staff?
- Where will you operate from home or a commercial location?
- Will you buy or lease trucks, and how many will you need?
All of the above will affect your startup costs. Without solid answers to the above, you won’t be able to determine your startup costs.
For more, see Estimating Startup Costs: Are You Missing Anything?
Insurance
Insurance is a critical part of this business. Tractor-trailer accidents cause a great deal of damage. Without the right cover, one accident can put you out of business.
You need to have sufficient coverage for your trucks. You need to have more than enough cargo coverage. You’ll find expert tips and companies that deal with insurance for a trucking business in the resources further down the page.
Your Trucks
You’ll need to focus on the trucks you’ll need. And some of the questions you’ll have to answer are as follows:
- Will you purchase your trucks?
- Will you lease tucks with a maintenance plan included?
- Will you purchase used trucks?
- Will you run your business without trucks and depend on owner-operators?
Spend some time on the section for buying a truck in the resources below for more.
Getting the Word Out and Getting Customers
Have you considered how you will get loads? Will you be advertising? Or will you use a broker and pay a percentage on each load?
If you can advertise effectively, your acquisition cost can be lower than paying a broker a large percentage of the load.
If you’re starting out, you may want to use a broker to get some customers. Once you’re up and running, you may want to gain some experience in marketing your company to make more profit per load. See the section in the resources below for marketing a trucking business.
Getting Inside Information
The best advice you can get in business is from people that have experience in the same business you’re considering. There are various ways to speak with people that are experienced in the trucking business. Have a look at An Inside Look Into The Business You’re Considering for the details.
Now To The Resources
You have now reached the resource section of the post. You’ll find a unique collection of handpicked articles that will give you a strong overview of the trucking business. Since there are many resources, you can come back anytime to use any of the sections.
Good luck with your business.
A Collection of Resources Related to Starting a Trucking Business
How to Start a Trucking Business
How to Start a Trucking Company | Get Your MC, DOT, LLC, and More
Starting A Trucking Company – Getloaded
How to Start a Successful Trucking Business | KeepTruckin
Start a Trucking Company With One Truck
How to Start a Trucking Business | CorpNet
Start a Trucking Company in Eight Steps | incorporate.com
How to Start a Trucking Business – DAT
How to start a trucking company with just one truck
How to Start a Trucking Company — 16 Steps to Success
Starting a Trucking Company? Here’s Everything You Need to Know
Types of Business Ownership — A Practical Guide For Owner Operators
How To Start a Trucking Company | CDL
How to Start a Trucking Business in 5 Steps – Samsara
How to Start a Trucking Company: 8-Step Guide | FreshBooks
How to Start a Trucking Company From Start to Finish
What to Consider Before You Start
Reasons for Getting Into Your Own Business
The Pros and Cons of Owning Your Own Business
10 Questions You Must Ask Before Starting a Business
Passion – An Important Key You Need to Succeed in Business
Steps and Considerations
Over 21 Steps and Considerations When Starting Your Business
Getting Inside Information
An Inside Look Into The Business You’re Considering
A Simple Guide To Starting A Business
How to Start A Business – Making a Complex Topic Simple
How to Finance Your Business
How to Finance Your Startup Trucking Company | Motor Carrier HQ
Best Trucking Business Loans & Financing
Business Loans For Trucking Companies: Best Options For 2020
Loans Up To $250,000 For Truck Drivers | Kabbage Funding
7 Trucking Business Loan Types for Bad Credit | National Advisor
Commercial Trucking Loans up to $500,000 | National Funding
Everything You Need To Know About Business Loans
How To Register a Business
How to Register Your Business Using These Resources
Your Checklist For Trucking Permits And Licenses
License and Permit Checklist for Starting a Trucking Company
Licensing and Permits for a Trucking Business
Trucking Permit Services & Licensing | Truckers Bookkeeping Service
Transportation Licensing Compliance Guide | Harbor Compliance
Trucking Business Name Ideas
Selecting a Good Name for Your Business
1,000+ Trucking Company Business Name Ideas + Availability Check
Trucking Company Names: 400+ Truck Company Name Ideas
Trucking Company Business Name Generator – How to Name a Trucking Company Business
301 Great Trucking Company Names – BrandonGaille.com
Business Plan
How to Write a Business Plan Using This Unique Collection of Resources
How to Write a Marketing Plan Using These Select Resources
Business Plan Template. Create A Free Business Plan Form.
How to Write a Business Plan for Your Trucking Company
General Freight Trucking Business Plan – Executive Summary
Shipping, Freight & Trucking Business Plans
A Sample Trucking Company Marketing Plan Template | ProfitableVenture
The Ultimate Marketing Plan for a Logistic Business – Fueloyal
Trends and Statistics
Trends Transforming The Trucking Industry Outlook in 2021 | Linchpin
Trucking Industry Statistics: Outlook and Trends for Employment – TruckersReport.com
Long-Distance Freight Trucking in the US – Industry Data, Trends, Stats | IBISWorld
Local Freight Trucking in the US – Industry Data, Trends, Stats | IBISWorld
Trucking industry in the U.S. – statistics & facts | Statista
Trucking Companies – Industry Analysis, Trends, Statistics …
Profitability and Revenue
Estimating the Profitability and Revenue for a New Business
Solving the trucking profitability paradox – FreightWaves
Is the Trucking Business Profitable? | It Could Be! Learn How
The Truth to How Trucking Companies Make Good Money
20 Ways to Increase Your Trucking Company Profit Margins
Is the Trucking Business profitable in the USA? | by BeA TruckOwner | Medium
How to Calculate Revenue and Profit per Mile
Startup and Operating Costs
Estimating Startup Costs – Are You Missing Anything?
How much does it cost to start your trucking business?
Trucking Startup Costs: How Much To Start a Trucking Business?
How Much Will It Cost to Start Your Trucking Business?
How Much Does it Cost to Start a Trucking Company? | ATBS
How Much Does It Cost to Start a Trucking Company? | Freight Invoice Factoring | Factoring Express
Equipment
Essential Office Equipment You May Need to Run Your Business
Truck Buyers Guide
8 Things You Should Know When Buying a Used Big Rig
5 Tips for Purchasing Your First Semi-Truck | CDLjobs.com
Buying vs. Leasing Semi-Trucks & Big Rigs | HaulHound
Buying a Semi-Trucks | Tips You need To Know Before You Buy
Semi Trucks: The Ultimate Buying Guide | My Little Salesman
Semi Truck Rental, Leasing, & Buying: What Is The Best Option For You? | CDL
Best Semi Trucks | Complete Guide For Semi Trucks & Semi Trailers
Trucks For Sale
New
New Truck Inventory – Freightliner Northwest
It’s Uptime | International® Trucks
Search Volvo Trucks for Sale from our Dealers
Kenworth Trucks – The World’s Best ®
Used
Arrow Inventory – Used Semi Trucks For Sale
Tractor Trucks For Sale – Commercial Truck Trader
Used Heavy Duty Trucks for Sale – Penske Used Trucks
Sleeper Semi Trucks For Sale | MyLittleSalesman.com
Used Semi Trucks | MHC Used Truck Sales
New & Used Semi Trucks For Sale – Kenworth Sales Company
Used Semi Trucks for Sale | Ryder Used Semi Trailers for Sale
Used Semi Trucks For Sale | IN, OH, KY & IL
Used Heavy Duty Semi Trucks for Sale, Peterbilt, Kenworth, Freightliner
Used Semi Trucks for Sale | International Used Truck Centers
Insurance
Here’s Everything You Need To Know About Business Insurance
Business Insurance for Trucking Companies | How to Start an LLC
Independent Owner Operator Insurance for Trucking | Progressive Commercial
Trucking Business Insurance Quotes | Insureon
Trucking – Great American Insurance Group
Commercial Truck Insurance | National Independent Truckers Insurance Company
Commercial Trucking Insurance and Owner Operator Truck Insurance | Sentry Insurance
Commercial Truck Insurance from OOIDA
Owner Operator Direct – Commercial Truck Insurance
Employee Considerations
The Pros and Cons of Running a One-Person Business
How and When to Hire a New Employee
Hiring Essentials for Your Transportation Business
How a Small Trucking Business Pays Truckers | Your Business
Common Jobs Needed for Running a Business
Hiring an Employee VS Subcontracting
Associations
Top 4 Trucking Organizations for Transport Fleet Professionals – Teletrac Navman
Best Trucking Associations | Complete Guide of Top Trucking Associations
The Voice of America’s Trucking Industry
7 Trucking Associations Drivers Should Know About
Home | NASTC – The National Association of Small Trucking Companies
State Trucking Associations | Transport Topics
One Voice For Truckers Everywhere | Join the OOIDA Family
Trucking Load Brokers
What is truck brokering? What do you need to know? | TruckingOffice
What Does the Average Freight Broker Make? – Direct Freight
40 Best Free Load Boards for Truckers
7 Ways To Find More Loads For Your Trucking Business
How to Get Trucking Contracts – TAFS
Top 50 Freight Broker Companies
Business Cards
How to Design Business Cards That Draw Attention
Truck Business Cards | 73 Custom Truck Business Card Designs
Latest Image Search Results Related to Trucking Business Cards
Logo
How to Create an Impressive Logo
Free Truck Logos | Best Truck Logo Maker | LogoDesign.net
Trucking Logos | Buy Trucking Logo Designs Online
Trucking Logo Maker & Trucking Logo Design Ideas | Tailor Brands
Trucking Logos: the Best Trucking Logo Images | 99designs
Custom truck logo designs from 48hourslogo
Trucking Company Logos | 2,265 Custom Trucking Company Logo Designs
Latest Image Search Results Related to Trucking Business Logos
Forms
Trucking Company Forms and Envelopes – Custom Printing | DesignsnPrint
Custom Printed Trucking Forms: PrintIt4Less
Trip Envelopes, Trip Expense Reports, Bill of Ladings, Driver Logs, DVIR Forms
Software
20 Best Trucking Software of 2020 – Reviews, Pricing, Demos
Best Trucking Software in 2020 | G2
Best Trucking Software 2020 | Reviews of the Most Popular Tools & Systems
Best Truck Dispatch Software – 2020 Reviews & Pricing
Best Trucking Software – 2020 Reviews & Comparison
Trucking Accounting Software: Top Choices for 2020
Bookkeeping
6 Bookkeeping Tips for Truckers: The Basics – Truckstop.com
Bookkeeping for Truck Drivers | TruckingOffice.com
What to Look for in a Truckers Bookkeeping Service | ATBS
How Owner Operators Can Reduce the Headache of Bookkeeping
QuickBooks Bookkeeping for Trucking and Logistics Companies
Business For Sale
Buy A Business or Build one From Scratch?
An Inside Look Into The Business You’re Considering
Trucking Companies For Sale – BizBuySell
Road Haulage and Freight Businesses For Sale in the US, 163 Available To Buy Now
General Freight Trucking Businesses for Sale | Sunbelt Network
Transportation Businesses for Sale | Buy Transportation Businesses at BizQuest
Trucking Businesses For Sale, 178 Available Worldwide
Trucking Companies For Sale – LoopNet
Trucking Companies For Sale & Trucking Businesses for Sale – Buy Sell Trucking Biz for Sale
Latest Search Results Related to Trucking Business For Sale
Franchise Opportunities
The Ins and Outs of Owning A Franchise
11 Best Trucking Business Franchise Opportunities for Sale | ProfitableVenture
Trucking Franchise Opportunities: Lucrative Investment Ideas
Trucking Franchise Opportunities: Keeping Your Truck Drivers Safe
Established Trucking Business
2019 Top 50 Trucking Companies: Working to Stay on Top – Logistics Management
Top 50 trucking company rankings 2018 | JOC.com
Marketing Tips
How to Market Your Trucking Business | Fora Financial Blog
Grow Your Business Using These 10 Simple Marketing Tips for Truckers
4 Digital Marketing Channels to Target the Trucking Industry
How To Market To Trucking Companies | Transportation Data Source
Marketing Your Trucking Business – Quick Tips – AggDirect
Trucking Digital Marketing Agency | Trucking SEO | Cardinal Digital Marketing
Marketing Ideas for Trucking Companies | Your Business
Article Mix
Kevin Rutherford’s radio show on SiriusXM moves to midday
How to run a successful trucking company | TruckingOffice
Education required to run a successful trucking business
How to Run a Trucking Business – Materials & Courses | ATBS
Top 10 Tips For Running A Trucking Business Successfully
The Seven Biggest Challenges Facing Trucking Companies Today
Top 6 Challenges Facing the Trucking Industry – 2019
The Challenges Of Running A Trucking Business – Entrepreneur Resources
Starting a Trucking Company – 10 Challenges to Expect | ProfitableVenture
4 Biggest Challenges Haunting The US Trucking Industry Approaching 2020 | Paul Mark
4 Major Challenges in the Trucking Industry | CDLjobs.com
Problems You Need To Overcome When Starting A Trucking Business | Bit Rebels
Three Biggest Mistakes Made by Small Trucking Companies | Tailwind Transportation Software
Common Trucking Business Mistakes
7 Killing Profit Mistakes You Make as a Small Transportation Company
The 7 Biggest Mistakes – Truth About Trucking
8 Key Reasons Why Many Trucking Businesses Fail | Trip Sheet Central
Common Mistakes Rookie Truck Drivers Should Avoid | TruckingTruth Blog
Running a Business
How to Run a Business – A Quick Look Into Skills You’ll Need
Publications
Where Should I Get My Trucking Industry News? | ATBS
Fleet Management News – Fleet Management Business Info
7 Best Trucking Magazines | Top Truck Magazines For Truckers Drivers
10 Best Trucker Magazines In US – Fueloyal
Trucking Magazines – Trucking Publications – Truckinfo.net
Heavy Duty Trucking | Commercial Truck Fleet News
The Best Blogs for Truckers to Follow – EZ Invoice Factoring
Top 100 Trucking Blogs And Websites for Trucking Industry Pros in 2020
Five Trucking Blogs You Should Know About – AllTruckJobs.com
Top 10 Best Trucking Blogs to Follow
10 Bloggers to Follow If You Are In Transportation Industry – Best Resume
The Top 50 Transportation and Logistics Blogs
6 Trucking Forums That You Should Follow | ATBS
Seven Great Blogs About Trucking Safety
Terminology
Trucking Industry Terminology | Glossary of Terms
Trucking Industry Glossary – DAT
Glossary of the American trucking industry – Wikipedia
Books
Books from Amazon Related to Starting a Trucking Business
Google Book Search Related to Starting a Trucking Business
The Latest about Starting a Trucking Business
Google Searches
Latest Search Results Related to Starting a Trucking Business
Latest Scholar Search Results Related to Starting a Trucking Business
Latest Image Search Results Related to Starting a Trucking Business
News
Latest News Related to Starting a Trucking Business
Tweets Related to Starting a Trucking Business
YouTube
Videos Related to Starting a Trucking Business