When it comes to FTL or Full Truckload, one of the most important functions is the truck that does the job of shipping the cargo from the loading to the unloading point. This is why many businessmen are into trucking industry. It is a type of business that will not run out of clients because of the advantages it provides, both to carriers and manufacturers. So how do you start a trucking business?
- First, of course, is to secure a commercial driver’s license. Any FTL Dedicated Truckload Freight company requires this from a trucking business. Anyone may be able to own a license but this will speak volumes of your credibility and professionalism.
- Next, you should have a proper business plan that will state your revenue and where your expenses are going. Keep in mind that the expenses will also state the money you pay yourself. A lot of businessmen choose to get a business advisor to help them with their business plan.
- You have to be clear with the structure of your business. Business structures include sole proprietorship, limited liability corporation or LLC, corporation, etc. Take note that every structure has its own pros and cons, and it may depend on the state you are in. To be sure of your business structure, it is best to hire an accountant.
- A start-up expenses should also be prepared. Keep in mind that a trucking business requires investment on equipment, such as tractor and trailer. Therefore, you must have finance resources. You may also consider getting a line of credit.
- As part of starting the trucking business, you should follow the federal and state government regulations.
- For an FTL Dedicated Truckload Freight company to choose a trucking business, you should secure an insurance.
- Of course, you should get a truck and trailer. You have the freedom to choose between purchasing and leasing. You also have to decide on which type of cargo you will go for.
- Lastly, build your business. Meeting all the requirements means that you can start the business. It is also advisable to ask assistance from transportation information companies.