Are you thinking of starting a hauling business? Good for you! A business venture such as this is extremely in demand these days, thanks to the rising demand for products – especially those orders made online.
It is important to note that starting a trucking company is no easy task. It takes more than just knowing how to safely drive a truck or having someone experience to do the job for you, but a being a good business owner yourself.
To help you create a hotshot trucking business, we’ve gathered some of the best tips to help you get started. Make sure to take down some notes!
Start With A Business Plan
Never start a business without having a solid business plan. This will be the blueprint for your business. Make sure to create goals for the long-term and short-term and formulate strategies to reach your goals. Determine how you plan on funding your business, and whether or not you’ll need to get a loan or if you plan on teaming up with a business partner.
Secure Your Licenses And Permits
There are licenses and permits you need to secure before starting your trucking company. Do your research and ask around on what type of permits, licenses and forms you need and keep updated always to avoid business interruptions.
Get The Type Of Premium You Need
Every business needs some insurance to help protect you, your workers, your properties and your business, in general. As a trucking company, some of the premiums you will need are General Liability, Auto Liability, Cargo Insurance and Auto Physical Damage Insurance.
Good Read: How Does Commercial Truck Insurance Work?
Get The Truck You Need
Depending on your budget, you get to choose the type of truck you need plus decide to buy or lease the truck you’ll be using for your business. Check the pros and cons of buying your truck versus leasing. Also, make sure you have all required materials needed such as tarps to help protect your hauls. There are lots of tarps for sale explicitly made for trucks, so make sure to find a competent tarp supplier for your tarp needs.
Find A Niche To Focus On
As a startup trucking business, it would be better to focus on a single niche for now before expanding and accommodating ways on how clients can utilise your services. Some of the common niches in the trucking business to choose from are as follows.
- Building Supplies Haulage
- Courier Service
- Delivery Van
- Dump Truck
- Mall Delivery
- Towing Service
- Truck Leasing
Know Your Rates
Determine how much you plan on selling your services depending on your operating costs to check how much your all-in-cost per mile will be. This way, you can formulate your rates, making sure you have enough profit.
Take Advantage Of Fuel Cards
Fuel will be your number one expense, so it’s best to make use of fuel cards. This will allows you to control your fuel spending. Fuel cards offer discounts and better pricing, letting you save money.
One best way to put your brand out there is advertising your business. Start with family, friends and acquaintances and build your network from there. Don’t forget about putting your business online by creating a website and social media pages to introduce your brand and reach more customers at a faster rate.
Recommended Read: 21 Ways to Market Your Business Online