Trucking: Want to star my own Trucking Company, trucking insurance, collage student

Question
Dear Bob

My husband is currently a truck driver he has been driving for almost 2 years now and I am a collage student. I am 22 and he is 23 we really want to star making good money and are thinking about opening our own trucking company. He would drive and I would find loads. I don't know where to star. What should be my fist step! Please help me!!

Thank You and Happy Holidays!
Shelly

Answer
Hi Shelly,

Sorry this took so long.  Your first step would be in writing a business plan.  Know all of your income and expenses (and where those expenses are going!)  Next, should incorporate.  Keep the companies assets and liabilities seperate from yours.  I would then look for a good accountant or find trucking accounting software.  Find every loophole you can to save money and manage expenses.

Then it's just a matter of getting your equipment and getting legal.  Your state's Department of Transportation can help you with most of that (Your DOT/MC #, IFTA, base plates, etc.).  Don't forget to get trucking insurance.  Websites like www.ooida.com can help you out a lot too.

Good luck!

Bob Stephens