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Ready to start a trucking company? This 14-step guide covers you, from building a solid business plan to navigating the high-demand trucking industry.
One key to determining whether a trucking business is profitable is to understand the average trucking business profit and what’s an acceptable U.S. industry profit margin. While carrier revenue and profits vary depending on their unique situations, most truckers should aim for a 6%-8% profit.
We’ll break down what you need to know about how to start a trucking company from start to finish and help you make the right decisions to get your trucking business in high gear.
In this guide, David McGill will take you through the steps of how to start a trucking company and share some useful tips on how to set your business up for success.
1. Perform market analysis. 2. Draft a trucking business plan. 3. Develop a trucking brand. 4. Formalize your business registration. 5. Acquire necessary licenses and permits for trucking. 6. Open a business bank account and secure funding as needed. 7. Set pricing for trucking services. 8. Acquire trucking equipment and supplies. 9.
Starting a trucking business requires a big investment upfront to purchase a tractor and trailer(s), plus licensing requirements and registration. Identify sources and terms for financing and secure a line of credit.
The following steps detail how to go about starting your own trucking business and how much it costs. We’ll also touch on the perks of leasing with a virtual trucking carrier instead of obtaining your own authority.