QuestionI am new to this business and wanted to know the best way to go about starting my own trucking company. I would like to either purchase or lease my own truck and get a driver to drive it for me.Then I would like to also get some contacts to move merchandise how can I go about doing this without it costing so much.
AnswerHi Jahid.
The way to start your own company would be to get your own DOT/MC number, permits, truck & trailer, insurance, incorporate, etc. You'll need to talk to your state's Department of Transportation and a trucking insurance company. This of course is after you have your equipment. You should also incoporate to protect your assets.
Contracts can be obtained by bidding or making sales calls. In your case, you might want to go through a load broker to find loads (www.getloaded.com). Also, you can lease out to a company. Leasing will help you lower your start up costs and they will find the loads, but they also take a cut. Some, also don't lease out to small fleets.
Your start up costs can be $20k or more. There is no way around it. Down payments on trucks, permits, insurance, fuel, drivers wages, etc. will all have to be paid before the first checks come rolling in. My advise would be to write up a business plan. Buy some trucking software so you know what your projected income and expenses are and go from there.
Good luck!
Bob Stephens
