Starting a trucking company requires purchasing, or leasing, trucking equipment, which may require taking out a loan to cover initial expenses. Additionally, a new trucking company owner must make sales calls to shipping companies to get customers, monitor expenses and set up a smooth-running back office operation.Continue Reading
The owner of a trucking company must first find suitable trucks and equipment to maintain the trucks, which requires choosing whether to purchase or lease the equipment. If buying the equipment, the owner typically provides a down payment and pays the rest by securing a loan. Leasing requires paying a monthly rental fee on the equipment. This can save the company money initially, but the monthly fees remain as long as you lease the equipment. Some truck rental leases include the option to own the equipment outright after fulfilling the lease terms.
A trucking company owner must also generate business, and one option is to search for loads by visiting an online load board. Load boards should generally remain short-term strategy, however, because these jobs usually are for one-off loads. Building a list of loyal customers by initiating phone calls to various shippers serves as a more effective way to generate business. Repeat customers acquired through this method provide better long-term stability and profits than those found at a load board.Learn more about Career Aspirations