How to Start a Commercial Truck Business
- 1). Get paperwork in order. Obtain a Commerical Driver's License (CDL). Get insurance requirements met. Obtain the necessary business license and permits to be able to open your trucking business.
- 2). Buy trucking equipment. You will have to finance the purchase of your own truck at least. Partners can come in with their own trucks and equipment. Employees may require a truck bought for their use. All trucking equipment has to comply with federal regulations and must be suitable to the loads you plan to haul.
- 3). Hire truckers or partner with other independents as subcontractors. Trucking can be a family business or a joint venture. Hiring employees adds many layers of complexity to your business and should be attempted only after experiencing some success.
- 4). Find loads in your area. There are a number of online sites that can provide networking for new truck businesses. They take a cut of the contract. Arrange it so that your trip back home carries a load too.
- 5). Keep the cash flowing. Truck companies are paid upon delivery, meaning you may need to finance the operation of your business before you have been paid. Avoid bad credit risks and seek out high-paying and trustworthy clients. Use a truck factoring company, which will pay you immediately at a discount for your accounts receivable, and a non-recourse cash advance if you think the client might default on payment.
