The importance of the trucking niche can’t be underestimated. For instance, consumers can gain access to various exported and imported products, thanks to the trucking industry. It’s not wrong to say that trucking is a major part of the transportation industry. It’s common to find large trucking companies, but anybody can become a trucker with a single truck. If you’re looking to start your own trucking company, here are some useful steps to follow.
Step 1 – Creating A Business Plan
If you don’t know how to create a business plan, you need to do lots of research about it. Make sure the business plan contains information regarding the objectives of the trucking business. Also, you should include strategies to be used to achieve the goals. Don’t forget to mention the customers or clients who are part of your current or target market. Finally, include a segment about your projected profits. Here is a good template.
Step 2 – Setting Up A Limited Liability
If you want to run a successful trucking business, you need to set up an LLC. Most sole truckers prefer the LLC company model because there are fewer formalities involved. On the other hand, as the name suggests, the limited liability company guarantees a limited personal liability. Follow the necessary procedures for setting up an LLC such as filing the articles of organizations with the state as well as the required filing fee.
Step 3 – Obtaining A CDL (Commercial Driving License)
You can’t be a driver or own a truck without a commercial driving license. To get one, you need to go through the relevant driving courses as well as sit for an exam to qualify. There is also an exam fee that should be paid, so you should have it ready.
Step 4 – Getting The Right Truck
You could purchase a new truck or use an old one depending on your current situation. Choose a truck that’s big enough to haul any products for your clients without inconveniences. On the other hand, if you’re planning to haul food, you should get a refrigerated truck.
Step 5 – Insurance Policy
Make sure the truck is insured from any damage from an accident. Also, don’t forget about a liability cover that can offer protection against any goods while in transit. Try MQT for some good quotes.
Step 6 – Getting Clients
Once you have set up the trucking business, the next step is getting customers. You can always market your trucking business through various advertisement methods to get more clients. Don’t shy away from using social media as an advertising platform.
The Bottom Line
Try out a few clients and meet all deadlines as well as avoiding damaged goods. Note that, the trucking industry is very competitive, and you might have to compete with other trucking companies before acquiring clients.