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How to Start a Trucking Business With These Unique Resources

November 27, 2020 364 views

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

Trucking Business Loans | Nav

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

StackPath

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

The Brutal Truth About The Transportation Industry’s Cutthroat Profit Margins – Route4Biz by Route4Me

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

How to Buy a Used Semi Truck

Best Semi Trucks | Complete Guide For Semi Trucks & Semi Trailers

Trucks For Sale

New

New Truck Inventory – Freightliner Northwest

Homepage | Peterbilt

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

Insurance for New Venture Trucking Companies | Commercial Transportation & Trucking Insurance – Reliance Partners

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

StackPath

Top 50 Freight Broker Companies

StackPath

Business Cards

How to Design Business Cards That Draw Attention

Truck Business Cards | 73 Custom Truck Business Card Designs

Business cards

Trucking – Business Cards

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

All About Trucks

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

Trucking Service For Sale in California, CA. Trucking Service Franchises and Opportunities Businesses For Sale | BizBen

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

10 Biggest Trucking Companies

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

StackPath

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

StackPath

Problems You Need To Overcome When Starting A Trucking Business | Bit Rebels

The biggest mistakes in building a trucking business: No. 1, listening to family and friends – FreightWaves

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

Trucking industry growth

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

Twitter

Tweets Related to Starting a Trucking Business

YouTube

Videos Related to Starting a Trucking Business