Tips For Starting Up Your Own Trucking Company
Posted on: 26 August 2018
If you have worked as a commercial truck driver, you may dream of owning your own trucking company and working for yourself instead of someone else. Having experience driving a semi-truck and understanding the transportation business can give you a leg up and increase the likelihood of succeeding. But, in order to start your own trucking company, you need to be organized and prepared. The more time you spend planning and thinking about every detail, the better off you will be. Use the following tips to start your own trucking company.
Create a Budget
Whether you plan to start your company with one truck or several, starting a trucking company is not cheap. You will need ample start-up capital if you want to do things right. A good first step is to create a budget -- make sure that you include all expenses that your company may incur, such as the cost of purchasing or leasing semi-trucks, insurance, gasoline, salaries for drivers, and health insurance benefits. When you have a good idea of how much money you will need to get your trucking company up and running, you can write a business plan and visit financial institutions to apply for a loan.
Purchase or Lease Trucks
Having one or more reliable semi-trucks is essential for a trucking company. You will need to assess your financial situation and determine whether it makes more sense to lease or purchase the trucks. In some cases, buying a used semi-truck can be a good option when you're getting your business off the ground, but if you do choose to purchase used, make sure that you have the truck that you're interested in thoroughly inspected by a mechanic to make sure that it is mechanically sound.
Register with Federal Authorities
Just because you have a semi-truck, it doesn't mean that you can start hauling commercial loads across the country. In order to legally form your trucking company, you will need to register with federal authorities. First, you will need to apply for a USDOT number, which is a unique number that allows the authorities to monitor your trucking company and view its safety record. After obtaining your USDOT number, you will then need to go through the FMCSA registration process.
Secure Routes
Securing regular routes is a vital part of running a successful trucking company. After you register to operate as a trucking company, begin searching for companies that need loads transported from one warehouse to another. It is a good idea to work with established companies that are financially secure -- doing so will help ensure that your trucking company is paid for its services.
For more information, contact a company like HES Logistics, Inc.
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