To start a trucking company, you need to understand the basics of the trucking business, write a business plan, find towing equipment, register the company and build up a client base. The process involves extensive planning, assembling resources and completing a series of legal requirements.
The transportation business is extremely competitive, as the U.S Small Business Administration asserts. Before starting a trucking company, you should conduct extensive research to save time, energy and resources. Trucking companies mainly operate in two forms: those that use privately owned drivers and equipment and those that use subcontracted personnel and resources. Deciding which form of business to adopt is the first step in starting the business.
To kick start the planning process, use SBA's resources and tools to prepare a business plan. When the business plan is complete, choose a customer-friendly business location and source for funds to run the company. After that, determine the legal structure the business will take and register the business name. Once you obtain a business license, tax identification number, permits and trucking equipment, you can commence operations.
In addition, you need to understand employer responsibilities and obtain the necessary insurance. The final step involves building a client base and transportation accounts. The ability to receive large contracts depends on the company's reputation.