Tips to start your trucking company
If you want to start your own trucking company from zero, here we share tips to venture into the industry and carry out an optimal and safe process.
The growth of the transportation industry for 2022 is approximately 4.3%. In 2021, about 72% of all freight moved in the United States was in land transportation. These data are fundamental when deciding to start a trucking company, as they show that it is a solid and constantly growing industry.
At Personal Truck Services we have advised entrepreneurs who decide to become independent. We have created more than 1,300 transport companies; we have the knowledge and experience to provide you with the necessary tools and support to make your process successful. Below we share six tips to help you create your transportation company without setbacks.
Define the state in which you want to work
You must first define the state where you want to operate. Do you want to work Intrastate or Interstate? If your trucking company is Intrastate, you can only work in the base state where you establish your company; if you want an Interstate company, you will be able to work nationwide. However, it would help if you kept in mind that each state has its regulations, and the processes and costs differ. Personal Truck Services can help you make the best decision and evaluate the pros and cons of creating an Interstate or Intrastate transportation company.
Define what type of truck you are going to use
Having a truck and defining what type of loads you want to transport is essential. The value of your insurance policy will depend on this, an essential requirement to start operating. You can choose between a Flatbed truck (low bed), Dry van (dry box), Reefer (refrigerated cargo), Hotshot, or Box truck. The type of truck will determine the type of loads you can move. You can start working with shippers or brokers to guarantee loads; our business partner USA Truck Brokers can support you with loads and advise you on all logistical issues to maintain a stable regular income. Choose your market niche to define the rates and loads you can attend.
Keep track of your financial status
Throughout the process, it will be essential that you know your financial status, income, and expenses to avoid losses and maximize your profitability. Bookkeeping service for your trucking company will be your best option to organize your income and take care of your cash flow.
Insure your truck against damage and accidents
All commercial trucks must have insurance. Liability and Motor Truck Cargo are the trucking insurances you must have to start working with shippers and brokers. When you start working with shippers and brokers, you must present your certificate of insurance (COI) to provide support and security in case of an accident, theft, or natural disaster. Commercial insurance is the only guarantee you have to cover any damage caused.
Use technology to your advantage
Technology is available to everyone. Many times we think that it is expensive and difficult to access, and it is not. There are devices specifically designed to be incorporated into trucks and optimize processes. The ELD electronic device is a piece of technology that helps you with GPS tracking, IFTA Fuel Tax report, inspection alerts for your vehicle, and record of driving hours and rest.
The FMCSA regulation establishes that a truck driver can work 11 consecutive hours after being out of service for another 10 hours, thus guaranteeing the well-being of the trucker and the optimal performance of his duties.
Stay up to date on industry news
Develop your negotiation skills, read the news, and understand the market. Entering the trucking industry and being your boss is a decision that only depends on you. Subscribe to industry news; Trucker News is a reliable source that will give you first-hand information on regulations, road conditions, upcoming inspections, and more.
Being an entrepreneur is much more than being behind the steering wheel. You must train, inform yourself and surround yourself with the right business partners since time is short and regulations must always be in order and up to date.
Personal Truck Services is the business partner you need to advise you and resolve concerns about your transportation company. Contact us through info@personaltruckservices.com. You can also call us or write to us via Whatsapp at (832) 360-2067 to speak with an advisor specializing in the transportation and logistics industry regulations.
