Trucking business is really one of the world leading business that really does over amazing profits when the right steps are really followed! Starting a trucking company is really very possible even with one truck!
Notably, it’s the trucking business that has really kept things going to the whole world! No country thrives well without the help of the trucking business it’s the only answer to business demand and supply. The question is, how do we start our own trucking system?
Many young entrepreneurs sometimes are intimidated by larger trucking companies! This should really never be intimidation since the step by step guideline on how to start a trucking company isn’t that complicated! Even a semi truck owner can really get a startup by a single truck!
Semi truck owner operator can actually get into a new transportation company and become a member or decide to follow a step by step guideline in starting a trucking company. You only need to follow some steps and there you are; you will surely get your own trucking business moving! Also a lot of useful information about trucking you could find following the link https://truckzeal.com/ .
Seek documentation from relevant authorities
This is actually the initial stage that must be fulfilled before any business is initiated. It’s a process that is sometimes considered so tedious but it’s actually the basic requirement. Your own truck driving business really needs the clear and well-specified documentations!
It entails applications and filling forms. For the individuals based set the US, they will really need to obtain the DOT entry number before the authorization for the trucking business is approved.
The DOT number can be easily obtained using the unified registration system (URS) which usually takes a good number of working days before the process is completed. Notably, the MCS -150 Form is now being used to only update the existing DOT entry number. When you have a DOT entry number then it’s very possible to complete the registration form that is actually completed after paying only 300 dollars.
Choose a legal officer
Sometimes they are referred to as process agents. This personnel is really very compulsory for the filling of the forms such as the Form BOC-3 in any trucking business in the startup stage.
These agents will be representing your trucking company in all the issues that regard the court procedure. You will need process agents in all the states that your trucking business will take you to. These agents are actually very useful in instances when a legal suit involving your business arises. The checklist for the best process agents are actually available and can be so resourceful in picking the best process agents.
Get insurance for your trucking business
No company does really operate without insurance from reputable companies! Your business really needs proper insurance that will actually take care of any emerging damages that are associated with your company. You need to properly choose the best company that will take care of all the needs that are required by the FMCSA. To open an insurance account, you really need to have the details on the FMCSA requirements then check the best insurance provider in the checklist that will actually provide the best for your small trucking business.
A choice between purchasing and leasing the right trucks
Now that you have a working company, you really need trucks to get your business going, though it’s really possible to get started with one vehicle, it could be efficient to have more than one truck.
Therefore options between leasing and buying are available. For those with just enough operational funds, truck expenses may really not be a problem and they can buy at once and enjoy the discounted prices!
Other favorable options are leasing or even getting used trucks which can easily be obtained at a cheaper price but expect maintenance cost to rise in future!
You also need to make the right decision on the correct equipment for truck hauling. You need to choose the type that will increase your returns. The choosing options are really so wide and they range between the flatbed trucks, a reefer or even a van depending on the choice that you consider the best.
Get an international registration plan (IRP)
Your business may not be so productive if all the duties you are handling originates from home! You need an international permit that will actually make it possible for you to get to other states. You need an IRP! This is actually the last step that will actually allow you to have a wide area of operations.
This will actually help you to have access to other states. The IRP is actually a good plan that will actually take care of all the entries top other states and you really won’t worry about doing other registrations.
To register for IRP won’t really cost a lot and it always depends on the weight and also the state you are registering in and it’s approximated at 1500 to 2000 dollars.
How much does it cost to start a trucking company?
Actually, no business will never get started with no money! You need to incur some cost for the successful business startup! The cost of starting a trucking business is actually approximated between 6000 to 18000 dollars.
All this sum will take care of the whole procedure from obtaining documentation to the last step of the IRP. Notably, equipment will need another budget since it’s your decision to choose on the number of trucks that you need to start with! You may also incur some expenses for dummies that you will put in the basement of your company for purposes of advertising!
To conclude with, starting a trucking company is really simple. You only need to follow all the stipulated procedures step by step on how to register a trucking company even with one truck and you will surely get the best out of your business regardless of the number of trucks you start with!