Trucking Business Startup 2023: Step-by-Step Blueprint to Successfully Launch and Grow Your Own Trucking Company Using Expert Secrets to Get Up and Running as Fast as Possible.

Trucking Business Startup 2023

Step-by-Step Blueprint to Successfully Launch and Grow Your Own Trucking Company Using Expert Secrets to Get Up and Running as Fast as Possible.

Alexander Sutton

Copyright © 2022 by Alexander Sutton

All rights reserved.

It is not legal to reproduce, duplicate, or transmit any part of this document in either electronic means or in printed format. Recording of this publication is strictly prohibited and any storage of this document is not allowed unless with written permission from the publisher except for the use of brief quotations in a book review.

As a way of saying thank you for your purchase, I wanted to offer you access to this amazing book for free: Entrepreneurial Drive

Access the course here: https://tinyurl.com/bdf68u67

This guide takes you through the characteristics of a gritty person, the habits that gritty people develop, and shows you what you need to do to build your grit to leave your old life and become a successful entrepreneur and turn your dreams into reality.

Contents

Introduction

1. Why Should You Invest In The Trucking Industry?

2. Getting Prepared

3. Comply With Regulations

4. Obtain Insurance

5. Raise Capital For Your Business

6. Buy A Good Truck

7. Price Your Load

8. Market The Business

9. Grow Your Business

10. Technologies You Can Use In Your Trucking Business To Optimize Profits

11. Hiring Employees

12. Mistakes Trucking Business Owners And Drivers Make

13. Know And Monitor Your Expenses

14. Truck Maintenance

15. Common Terminologies In The Trucking Industry

Introduction

Have you ever asked yourself, How do eCommerce businesses like Amazon, Zara Alibaba, and Hello Fresh move their products from their premises to customers' doorsteps so quickly? The answer, of course, is with trucks. More people in the country are buying products online in the U.S today than ever before, which is good news for the trucking industry.

Statistics by the American Trucking Associations (ATA) show that in 2020, trucks transported freight weighing 10.23 billion tons. Data also shows a massive shortage of drivers in the U.S. It is estimated that the trucking industry will need 100,000 drivers soon, and subsequently, companies are desperately searching for drivers to meet the demand.

It is inconceivable that an industry with more than 7 million truck drivers can have a shortage of drivers, but that shows you how fast this industry is growing. Therefore, what better time for you to invest in it than now?

Trucking companies help businesses meet their logistics goals. Logistics is the general process of controlling how resources are obtained, stored, and moved to their destination. This function is an important part of any business, whether online or offline. Every business, especially those in the manufacturing industry, should be concerned with how its products are moved along the supply chain.

A new business may not own enough trucks to transport its products to customers all over the country. It will need to hire truckers to deliver goods on its behalf. Timely deliveries by truckers can make customers happy, and they may, in turn, become loyal to the brand. That is why every trucking business worth its salt strives to be efficient and reliable. This is the only way to ensure a steady flow of clients for your trucking business and, consequently, profits.

Indeed, the trucking industry is necessary for maintaining the efficiency of many homes and businesses. For example, ATMs would run out of money without this industry, gas fuel would no longer be available to consumers within two days, manufacturing would stop within hours, and there would be a food shortage of epic proportions within three days. It is essentially recession-proof.

There are also many personal reasons you may want to start a trucking business this instant. You may be bored with your current job, or you want to be your own boss, or you want to stop doing a 9-5 job, or maybe you want to improve your lifestyle.

The good thing about starting this kind of business is that it is easy to start and expand. You will not have to invest much money upfront before generating profits when working in this industry. You can begin as an owner-operator trucking company. You can then scale your business when your profit margin and clientele increase. You will own a fleet of trucks and hire people to drive them when you scale it.

As of February 2021, The U.S Department of Transportation reported that 91.5% of trucking companies own six or fewer trucks. This statistic means that you can still survive in the market even with a few trucks. Hence, no need to worry that you do not have enough capital to buy a large fleet of trucks when you are starting. The industry has also benefited immensely from innovations that make it easy to operate the business.

This book will give you a step-by-step guide that you need to follow when starting a trucking business. If you already know how to drive a commercial truck and have the necessary driving license, writing a business plan is the first thing you need to do. The next step will be to register the business, select a business entity, and create a business name. You will also need to get the permits, licenses, and insurance required. Afterward, you will choose a truck and then get funding.

If you have never worked in the trucking industry before, you will have to know the different types of trucks and ensure that they are always in tip-top shape. Sounds exciting, right? Learning the workings of a big machine like a truck and using it every day to ensure that you reach your destination on time definitely sounds more interesting than being holed up in an office somewhere all day. Besides that, every trip will be like an adventure; you will meet and interact with different people every day, and perhaps some of them could become lifelong friends. You will also visit many other places you might have never seen if you were in a different industry.

Going by this long list of things to do and skills to acquire, you may have realized that starting this kind of business is not something you can accomplish in a day. It requires planning and willingness to learn all the nitty-gritty about the company and the industry as a whole. Once you have established your business, you will also need to know about the changes in the industry so that you can adjust accordingly and survive the competition in the industry.

If you are reading this book, you are already setting yourself up for success. This is because it contains information that has been written after years of experience. We have also identified the best strategies and the most important information that you’ll need for this business to be successful.

This book is for you:

If you are a truck driver and do not want to continue working for someone else.

If you work an office job and would like to get a share of this billion-dollar industry.

If you already own a trucking business and would like to learn both how to scale it up and about the best technologies that you need to use as a business owner in this industry.

When you are done reading this book, you will learn a lot to help you become an exceptional trucking business owner. Some of the things that you will learn include:

Types of trucking businesses.

How to price your services.

The types of license and insurance you need to obtain when starting a trucking business.

The mistakes you and your drivers need to avoid to ensure your business does not go bankrupt.

How to buy the best trucks that are reliable and affordable.

How to raise capital to start your business.

If done right, owning a trucking business can help you become financially independent and give you the freedom and time to do the things you love, like traveling or surfing. Anybody can start this business and become successful as long as they have the right information at their disposal. Read on to discover how you can become a part of this fast-growing industry and say goodbye to your financial woes.

Chapter 1

Why Should You Invest In The Trucking Industry?

First thing’s first: let us define what a trucking business is. A trucking business is essentially a transportation business that you operate using a truck. In other words, it involves transporting freight on land. It comprises any company that brings goods, cargo, or people from one place to another.

Some trucks are more suitable for transporting cargo, whereas others are ideal for carrying groups of people. You should ensure that you buy the appropriate truck for the kind of business you want to operate.

Trucks utilize shipping routes to transport goods all over the U.S to carry shipments for different industries. Shipping using trucks enables you to transport small or big shipments and cargo that need special conditions. Shipping with trucks also can be quite affordable, especially if the goods are being picked from a big port like New York City or Los Angeles.

There are many reasons why this is the right time to start a trucking business. These are some of the reasons why it makes sense to do so:

Shortage of drivers

Now is a great time to invest in this industry because of the increasing rates, higher freight demand, and driver shortage. The grim statistics in this industry show that the average age of a truck driver is 55 years. For years now, trucking companies have found it hard to attract young drivers into the industry. Experts cite the age limit for joining this industry as a driver as the greatest obstacle to many young people working. You must be 21 years old to become a truck driver in the U.S. The few available drivers have made the prices of hiring a truck go up, and the increasing number of people ordering things online is pushing the demand for trucks to go through the roof. Therefore, there is no better time to own a carrier truck than now.

Set your own working hours

Investing in this business will allow you to create your own schedule, since you will no longer have to answer to an employer. This freedom may not be possible when you are just starting, but it could become a reality after you have gained financial independence. Who doesn't want to make money while vacationing or in their sleep? This is one of the businesses that will allow you to do that.

Networking

Becoming an owner-operator trucker will allow you to meet many business owners in different industries and interact with them. Just be friendly and genuine with them, and in no time, you will create long-lasting relationships with them that you can leverage in the future. For example, they can help you develop ideas for other businesses, which means more money for you.

Ability to travel

Starting a trucking business will enable you to travel across state lines frequently, which means that you will get to travel to far-flung states as well as those close to your home. You could travel to Texas, Michigan, Wisconsin, California, and Georgia. With time, you will know all the routes like the back of your hand. There is no greater feeling than waking up in one state, eating your lunch in another state, sleeping in yet another state, and getting to enjoy the best sights that they have to offer.

Advertise for companies by putting banners on your truck

Some companies will approach you and ask you to stick their brands on your vehicle and pay you for that. This marketing strategy is an interesting way of making your truck generate money for you in more ways than one.

Rent it out

Sometimes, you might be unable to find freights. During such periods, don't let your truck stay idle. The best thing for you is to rent it out to big trucking companies and earn about $800 a month. This way, you will be earning passive income by virtue of owning a truck.

Build your business credit

Owning a trucking business will help you build your business credit. Open an LLC and ensure that you keep up with all your tax payments.

Legacy

Another great thing about owning a trucking business is having something to live on for your children. Hopefully, they can also pass it on to the next generation. Some of the big companies we know today have been passed down from generation to generation, including Ford and FedEx. Therefore, you need to put your heart into the business and think of it as building something long-term.

You will never run out of business

During the pandemic, trucks were allowed to operate, since they were considered one of the essential businesses in the country. This privilege means that if there is another epidemic in the future, your trucking business will not be rendered bankrupt due to a lack of clients.

Leverage

If you have a successful trucking business, you can easily use it as collateral to get a loan from a bank. You can do this as long as you have verified bank statements or tax records, among other things. You can then use the money the lenders give you to expand your business or invest it into stock or real estate.

Charity

You can use your profits to donate to charitable causes that interest you. This way, your business will not just benefit you and your family, but also your community as a whole.

How exactly does the trucking industry operate? If you are new to the world of trucking companies, this is something you might not have a clear answer to when starting. Here is a simple explanation for that.

An Overview of the Trucking Industry

Trucking services transport goods safely and on time to their destinations. Nevertheless, trucking takes many forms that help large businesses and consumers. Though trucking services vary, they are grouped into their specialties.

Door-to-Door

These services are present all across the country. Most of the time, these services take place at the manufacturer's location or the point of origin. When a person buys something online or via a catalog, a trucking company will go to the place where the item is located at the time of the sale and transport the product to a consumer's doorstep. Small trucks are usually used for this type of trucking service.

These items are often collected from a warehouse and taken to a port, where the products are then transported abroad and delivered to the consumer by another company.

Business-to-Business

This type of transportation happens the same way as the door-to-door kind, but the shipment sizes are usually much bigger, and the truck used for the shipment may be bigger too. The trucking company uses tractor-trailers when transporting many goods from point A to B. Most of the products shipped in this industry include:

Electronics

Furniture

Manufactured goods

Industrial supplies and parts

Dried goods that don't require refrigeration

Specialized or Heavy Haul

These services are mainly seen with businesses and government agencies. These products are either too big to fit into normal trucks, or they are so heavy that they exceed the maximum limits that the regular truck can carry. These include items like:

Transformers

Planes

Generators

Modular homes

Boats

Many heavy haul goods are transported