#HOW TO START A TRUCKING COMPANY HOW TO#
#HOW TO START A TRUCKING COMPANY DRIVERS#

Department of Transportation requires all motor carriers with vehicles weighing 4,536 kg (10,001 pounds) or more to register for a DOT number. Below are the major steps recommended to become an owner operator and open your own trucking business: Starting a trucking company requires many licenses before hitting the road, starting with a CDL. Step 4: Get your operating authority and other licenses

#HOW TO START A TRUCKING COMPANY HOW TO#

Check requirements in your state to see how to obtain your LLC. As an LLC, you get control of the business while protecting your personal assets. Step 3: Register your trucking businessД®stablishing a Limited Liability Corporation, or LLC, is the most common designation for owner operators. A good rule of thumb is to save 10% of your per-mile cost for repairs. We recommend calculating your actual cost per mile, which may be much lower than that if youвЂ™re a one-person operation. In 2018, the cost-per-mile of driving a truck - including wages - was $1.69 per mile. If you decide to buy a truck, create room in your budget for market slowdowns and unexpected maintenance. It often makes more financial sense for owner operators to buy their trucks rather than lease -В but are you choosing a new or used truck? New trucks will put a bigger dent in your overhead, but may give you better fuel efficiency and lower maintenance costs. Pick and choose the sections to include that make sense for you - the point is to create a roadmap to get your business off the ground. Small Business Administration lays out two different business plan formats. ThereвЂ™s no one-size-fits-all business plan, but the U.S. Are you planning on long-haul dry van loads, or local runs? How often will you be on the road? (To be safe, itвЂ™s best to have at least six months of living expenses in the bank, plus a little extra if you have dependents.) Initial costs for starting a trucking company with one truck can range between $6,000 and $15,000,В not including your equipment. Will you be the only employee, or are you planning to hire another driver right away? Some examples of what to include in your business plan: WhatвЂ™s your vision, and how will you get there? Creating a business plan will help you think through key elements of starting your business. Get your operating authority and other licenses.Here are six steps to get your owner operator trucking business off the ground.

#HOW TO START A TRUCKING COMPANY DRIVERS#

Many truck drivers are fulfilling their dreams of getting their operating authority and starting a trucking company.

How to start a trucking company