Starting a trucking company, just like any other business, requires much work and preparation. First and foremost, you’ll need to understand the market inside out. Once you do that, it will be quite easy for you to navigate your way around once your business becomes official.
Just like with any other business, it is imperative for you to put in the hard work. Without it, then you are just wasting your time and money. Below are steps on how you can start a trucking company and be successful at it.
Fill in the trucking company forms
The first step on how to start a trucking company is getting your CDL. A CDL is a commercial drivers license and you have to have it to haul anything along the roads. Make sure that all the paperwork has been filled out and then you can take the form into the DMV. After they have your application, you will take a written test. After the written test, most states require CDL classes and/or logging a certain number of hours with an instructor.
Get the right process agent
Sometimes the paperwork as well as the Form BOC-3 process that follows shortly after can prove to be quite tedious. That’s where you’ll need a good process agent to help you out with the process. Thankfully, there are quite a number of them who are not only good at what they do but also offer their services at an affordable price. You can also find a list of qualified process agents listed by FMCSA that you can use.
Insure your truck(s)
Insurance is essential for several reasons. One, you can always be confident that your investment is protected in case of an accident. Secondly, your future clients will have more confidence knowing your truck is insured because they’ll know their goods are in safe hands even when an accident occurs. Take your time when looking for the right insurance, especially one that perfectly suits your needs.
Get your fleet ready
A single truck is enough to begin your business. Since the trucking business is very lucrative, especially in the US, it will be quite easy for you to keep adding to your fleet with time. Just make sure you are doing your clients an excellent service. If you don’t have a single truck to your name? Well, you can still lease a truck and start from there. With time, you will accrue the money to get your truck and can start building from there onwards.
A truck is never complete until you get the right equipment for it to tow. There are different kinds of trailers depending on the payload that you are going to be hauling. Again, this will require you to carry out much research before heading out to make a purchase. If you aren’t sure, then it would be in your best interest to take as much time as you need to learn more about it. If you want to earn more, then you’re better off looking for a flatbed truckload.
Secure your IRP
Registering for your International Registration Plan, an IRP, will allow your truck to carry the load through a different country without having any issues. This might cost you about $1,500 to $2,000 depending on a couple of variables.
Why would anyone consider starting a truck driving business? Well, for starters, the trucking industry in the US is currently booming despite not having enough truck drivers in the field. Despite being on high demand, many still prefer white collar jobs. If you decide to have your own trucking company, you’ll be required to stay focused and work hard. Do this and you’ll be successful. It is also very possible to recruit and teach others just like those interested in tax preparers are doing. Once you have two trucks or more, you can choose to take a few friends or even family members under your wing.
These individuals don’t even need to have a formal education because you can train them from where you are. They will then start working under you while you focus on increasing the number of trucks. If you are dedicated enough, then you will most certainly succeed. But first, you’ll have to start by following all the steps mentioned above.