If you’re business-minded and have ambition, you can find a great career in transportation. Some people are content to operate a single truck, but what if you could own the company the truck drives for? Learn how to start a truck driving business, and you can make your dreams a reality.
How to Start a Truck Driving Business
If you’re looking for an industry where the sky is the limit, look no further than the world of truck driving. With the industry growing exponentially every year, there’s never been a better time to start a trucking company. Are you ready to learn how to start a truck driving business of your own?
Step 1: Get Experience as a Driver
Most trucking company owners get into the business because they used to be drivers. Driving for an existing company is the best way to learn the business inside and out, and it will also help you create a company that supports your drivers down the line. Before you start a trucking company, take the time to get your CDL and learn what you can about the industry from behind the wheel.
Step 2: Make Your Business Plan
Once you have the experience you need as a driver, you’ll be prepared to create your business plan. Your business plan is the document you will use to determine your next steps forward and demonstrate to others that your company is worth investing in. Your business plan should be able to answer questions about how your company will function in the existing marketplace:
- What does your company do? What kind of deliveries are you planning, and how will you get the work done daily?
- Who is the market for your trucking company? Show your research.
- What kind of equipment do you need? The trucks, trailers, and other equipment you invest in will vary greatly depending on the trucking your company does, so be sure to demonstrate why the equipment you need is essential to your business.
- Where does the initial investment for your company’s equipment and assets come from? Trucking companies require significant start-up investments, and industry experts agree that you should have six months of operating costs in the bank before you start your business. How will you create the assets you need or prove that you have them?
- What’s your company budget? What kind of expenses need to be paid, and how will you pay them?
- How will your company be structured, and who will it employ? Of course, you will hire truck drivers, but what about the back office? Who will recruit new customers and keep them satisfied? Who will maintain your trucks?
There are many ways to write a business plan, so talk to other industry professionals about what worked best for them.
Step 3: Do the Paperwork
To establish yourself as a business owner that your customers can trust, it’s essential to make sure that you legitimize and protect your business. Typical steps for trucking company owners include licensure, getting appropriate insurance, and learning to comply with state and government regulations. The work required to do this varies greatly depending on what your business plan says, so take your time to learn the ins and outs for yourself. It’s also a good idea to talk to a lawyer to ensure you don’t miss any critical steps.
Now that you know how to start a truck driving business, are you ready for it? If you’re just starting, finding a company to help you grow is a good idea. We hope you’ll consider driving for BLC Transportation!
Are you looking for a driver-oriented trucking company? At BLC Transportation, we would be delighted to help you start your career. We have opportunities for both company drivers and lease-purchase drivers. With our lease-purchase program, you can make 90 percent of the line haul while driving new trucks that provide comfort, fuel efficiency, and reliability. Plus, we offer bonuses and incentives, a health insurance subsidy, a friendly passenger/pet policy, assistance registering for an LLC, and more. Join our team today!