Starting A Trucking Business From Scratch.pptx

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COMPLETE TRUCKING BUSINESS SOLUTIONS
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Starting A Trucking Business From Scratch

• Startup costs can be as low as 10,000 or as high
  as 200,000. Below you will find an overview of
  the things youll need to consider when starting
  a trucking business from scratch. These tips can
  apply to either smaller owner-operator companies
  or larger corporations. If youre still getting
  your business off the ground, read on to learn
  how to start a trucking business from scratch and
  get your company up and running!
• Considerations Before Starting A Trucking
  Business
• Many people assume that starting a trucking
  business involves buying one or more trucks and
  hauling loads for clients. While you do indeed
  need to buy and maintain at least one semi-truck,
  theres much more to it than that. There are
  additional costs associated with starting your
  own company as well as several factors you need
  to consider before purchasing those first
  vehicles. The three main categories of
  consideration are finances, operations, and
  managementlets take a look at each
  individually Finances Finances can be broken
  down into two categories capital and revenue.
  Capital is essentially money available for
  investment in a given business while revenue
  refers to actual earnings after all expenses have
  been paid out. Capital can be provided by
  personal savings, loans, investors, etc.

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• At the same time generated through contracts with
  customers such as local businesses and shipping
  companies. Operations At its core, an operation
  is just how you conduct your day-to-day business
  functions such as payroll, maintenance on
  vehicles and equipment (such as fueling up when
  required), keeping records (such as when
  receiving fuel), etc.

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Starting Costs

• If youre looking to get into trucking for
  yourself, it can cost to purchase your own truck.
  This price will vary depending on what kind of
  vehicle you choose. You also need to consider how
  much it will cost you to start your business
  while there is no set fee on how much money is
  required, some people say that you should be able
  to cover all of your start-up costs with around
  10,000 in liquid capitalthats whats in cash
  in your bank account. Keep in mind that most new
  businesses have failed within two years due to
  lack of capital, so avoid putting yourself at
  risk by starting with too little cash. Its
  better not to break even than run out of money.
• Safety Equipment
• Your truck is more than just your office, its
  also your life support system on wheels. But you
  dont have to spend tons of money on professional
  safety equipment if you dont want to, or cant
  afford to, buy it new. You can start out by
  buying used safety equipment that has already
  been tested and is in good working order. Just
  make sure that you do research online about any
  safety equipment that you want to buy used before
  making your purchase. If you are planning on
  operating under an LLC instead of as an
  individual, then I highly recommend buying all
  new commercial grade equipment for your truck.

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• My reasoning behind that being because when you
  file insurance claims with your company policy,
  they will not be able to dispute what condition
  your truck was in at time of accident since
  everything would be brand new. In which case,
  having used equipment could raise eyebrows when
  filing a claim. As much as I hate spending extra
  money up front on brand new gear for my business
  when starting off, having peace of mind at time
  of accident makes up for everything! Never skimp
  when it comes to health and safetythe
  repercussions could end up costing you a lot more
  down the road! Youll also save yourself a lot of
  hassle with insurance companies fighting over
  whats covered if they think that commercial
  grade materials were involved.
• Licenses Permits

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• A common mistake made by aspiring independent
  contractors is to get their business up and
  running before obtaining licenses and permits.
  You can get into some serious trouble with
  government officials if you dont have everything
  in order, so make sure youre fully prepared for
  operating your own trucking business in your
  state or region. The best way to do that is to
  visit your local Department of Motor Vehicles and
  ask about what you need to run a successful
  trucking businessand follow any instructions
  they give very carefully.
• Obtaining all necessary permits and credentials
  could take weeks or months, but its one of those
  things that could sink your entire
  entrepreneurial endeavor if ignored.
• Set aside time in your schedule to go through
  each process in a methodical manner and remain
  patient while waiting for licenses and
  certifications. If possible, begin applying for
  any needed paperwork as soon as you figure out
  when you want to start your trucking company.

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Accounting (QuickBooks Self-Employe Software d)

• Whats your route? Freight brokerage companies
  act as matchmakers, pairing carriers with loads
  to haul. Freight brokerage isnt for everyone,
  but it can be an excellent way to start out in
  trucking. The first step is locating freight
  brokers who might have available loads you can
  take. The next step is signing up with one or
  more brokers and making arrangements for payments
  and pickups. And then youre on your way!
• Freight Brokerage
• If youre starting a trucking business from
  scratch, you need to establish a freight
  brokerage in addition to your truck and company
  name. Freight brokerage is what allows you to
  hire out your truck when its not being used by
  yourself or your drivers. Establishing a freight
  brokerage requires going through an
  intermediarycalled a freight brokerwho sells
  transportation capacity on behalf of all
  companies that have capacity available, which
  means any company can sell its own capacity or
  that of its clients. In essence, it is just like
  having your own internal broker but instead of
  negotiating fees with an individual carrier, you
  negotiate fees with multiple carriers for
  multiple needs, either directly or through
  brokers who aggregate loads from many different
  shippers and suppliers.
• Starting a trucking business from scratch takes
  money. It takes equipment, facilities, other
  people, insurance policies to cover damage done
  by your employees while operating your trucks
  both financially for repairs to victims property
  caused by employees under yours or their
  supervision as well as liability protection so
  should they cause bodily injury to someone else
  due carelessness on their part but above all it
  takes money.

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Contact Us

• Address - 6401 Golden Triangle Drive, Suite 115
  Greenbelt, MD 20770
• Email - info_at_completetruckingbusiness.com
• Website - https//completetruckingbusiness.com/
• Blog - https//completetruckingbusiness.com/starti
  ng-a-trucking-business-from-scratch/