How To Write A Business Plan And Start A Trucking Company

How To Write A Business Plan And Start A Trucking Company

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This article has two sections. The first is on how to plan and start your business in general.  The second is a tutorial on how to start a trucking business.

Here is a step by step tutorial on how to start a business.

Here is a tutorial on how you can write a good business plan.

Here are a few more resources on how to start your business. Here is a link to learn more about my book on how to start a business which is based on research of experiences of 300,000 entrepreneurs. Here is the link to my video-based course on how to start a business with over 5 hours of tutorials. The link to the course contains a coupon code for a very big discount.

Tutorial On How To Start A Trucking Business

 

Many people write to me and ask about how they can write a business plan for a trucking company, and how they can actually start their trucking business. In this article I will explain the things that are important to keep in mind when writing a trucking company business plan and eventually starting your trucking business. If you are looking for a business plan template, here is an article explaining how to write a business plan.


Raising Money For A Truck

One of the biggest challenges faced by many business owners is how to raise money to start their business. Trucking company entrepreneurs have to deal with raising money if they need to buy their own truck, and if they plan to hire employees.

A truck can be pretty expensive. There are a few options to decrease the costs. The first is to share a truck with other truckers. That, of course, is wildly inconvenient and at times may irritate clients because you will not have a truck available to you. The other option is to rent a truck when you have routes which you have to cover.  The costly option is, or course, to buy the truck. You can also use services for freight factoring to get paid for jobs up front.

Here are some fundraising ideas to consider if you are looking for ways to raise the money to buy a truck.

Additionally, here is a tutorial for how to write a fundraising plan. And here is a video explaining how to write a fundraising play to take advantage of the different ways to raise money.


Which Licenses Do You Need To Start A Trucking Business

You certainly need a commercial driver’s license (CDL). Chances are that you already have such a license. Of course, needless to say, you also need insurance for your truck, and likely, liability insurance for your business.

Then there are federal and local state regulations. In order to provide transportation services between states, a trucking business must have additional registrations. You also want to register the business as a company with your state. You should consult with an attorney you trust as to what type of entity the business should be. The type of entity you choose for your trucking business will have ownership and tax implications. It will also have implications in case there are any law suits filed against your business in the future.

Having Your Own Trucking Company Is More Lucrative Than Working As A Trucker

Studies show that truckers working for a company make between $30,000-$50,000 per year. Additionally, working for companies gives them less lifestyle flexibility. And working as a trucker is notoriously detrimental to health due to having to sit in a truck for almost all day combined with the lack of lifestyle flexibility.

On the other hand, if you own the business, you can make between $100,000-$200,000 per year, and have lifestyle flexibility. Don’t get too excited too fast. A large portion of that income will have to go towards expenses like: gas, employee costs, legal fees, truck maintenance fees, etc.

How To Get Clients For Your Trucking Company

One of the biggest challenges when you start a trucking business is that you will not have any clients. And you will always be stuck between selling and getting clients, and doing the actual driving. So a great solution is to partner with a sales person. While you drive the truck, the sales person can be out, selling and getting more routes. That way the business can operate at maximum potential, and hopefully grow into something bigger where you have so many clients that you need to get more trucks and more drivers.

Further Business Resources

For more business-starting resources, please take a look at our business planning mobile apps. Here is the iOS business plan app and here is the Android business plan app.  Additionally, here is the iOS marketing app. And here is the Android marketing app. And here are our business apps on the Kindle. And here is an article where I give the argument that our Android apps are the best business apps on Android.

And please check out and subscribe to my YouTube channel where we cover many marketing topics.

How To Become A Great Entrepreneur

Here is a tutorial I made on how to become a very good entrepreneur.

Author: Alex Genadinik

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