Ten Things You Should Know About Starting a Trucking Business

[Jayhawk]

Here are the ten most important things a person needs to learn about before starting a trucking company.

Everything we purchase, use, or consume was at one time transported by truck. Even if a product traveled by train, plane, or ship, it was still trucked. The trucking industry is one of the largest in the world. But many people are inclined to stereotype truck drivers as “all muscle and no brains.” Yet the trucking industry has some of the most strict and diverse rules and regulations.

To be successful in the trucking business takes skill, ingenuity, energy, hard work, and most of all intelligence to keep updated with all the federal and state rules, regulations and laws. Just driving down the road, though vital, is just a part of the industry. Successful truck drivers have done their homework and learned all the ins and outs of the trucking industry.

When starting a trucking company, it is important to know these rules, regulations and laws before starting. Failure to do so can result in spending thousands of unnecessary dollars. Often drivers end up spending weeks and months fixing problems and learning laws when they could be earning money on the road.

If you are considering becoming an owner/operator or starting a multi truck company here are the top ten things you should research before you begin. All of these things can be found on the internet:

1. Name and Entity Creation
2. Equipment Type and Commodity
3. Federal Authority
4. Insurance and Bonding
5. BOC-3 Filing
6. Licensing the tractor and trailer
7. IFTA License
8. Federal Heavy Highway Use Tax
9. Single State Registration
10. Individual State Permits

These are the top ten vital things a future driver should now about before starting. By learning these ten items, a future driver begins his road to a successful trucking business.

For more information and links about starting a trucking business, go to Truckers - Lone Peak Business Solutions, Inc..

About Us:

Lone Peak Business Solutions, Inc.'s goal is to help business owners succeed in their trade and we are committed to that end. It is Lone Peak Business Solution's philosophy that businesses are the strength of our economy and are part of the American Dream.

Lone Peak Business Solutions, Inc.
PO Box 704
Pleasant Grove, UT 84062
(801)796-5937
Lone Peak Business Solutions, Inc.

[Jayhawk]

Seen this press release, thought I would add it here.

[JoeT]

They forgot #11 - Don't Do it (J/K)

[Aleck]

Lot s of waiting lots of patience and familiararity w/ you customer. Its not easy but if you watch the overhead you really can earn money truckin

[MadDawg]

You forgot to add the most important thing Jayhawk - Price: 49.95

[firecracker24]

what does it take to make it as an owner op?? im thinking about it and got some really good deals.but i want to know the behind the scenes things. what does it actually take to survive??is it getting harder to make money as the years progress??whats a good wage??alot of people want to talk me out of it and then there are those who are trying to talk me into it. it sounds awesome to not have to take every ld i get assigned but what if my truck breaks down?what are the usual costs?? even though it would be nice to be able to go into a ta and say fix it and not have to wait for approval for 7 + hrs. does everyone try to rip you guys off?? how do you know when its worth taking a ld??theres a whole lot more things id like to know but im going to take a break now.thanks for any input.

[Cerberus]

Quote:

Originally Posted by firecracker24 what does it take to make it as an owner op?? im thinking about it and got some really good deals.but i want to know the behind the scenes things. what does it actually take to survive??is it getting harder to make money as the years progress??whats a good wage??alot of people want to talk me out of it and then there are those who are trying to talk me into it. it sounds awesome to not have to take every ld i get assigned but what if my truck breaks down?what are the usual costs?? even though it would be nice to be able to go into a ta and say fix it and not have to wait for approval for 7 + hrs. does everyone try to rip you guys off?? how do you know when its worth taking a ld??theres a whole lot more things id like to know but im going to take a break now.thanks for any input.

i'll try to answer this question by question. forgive me if i miss one. now these are just my opinions and i'm sure others will share a thought or two. would be nice if an O/O would share there experiences from day 1 to what they are going thru now. first of to make it your gonna need alot of backup money. money that is there after you get your truck and all the required documents and have your truck serviced. about 20G is a good number. and this is not money to pay for fuel, use a fuel card that either directly pays out of your account or you can afford the monthly fuel bill. and you want to keep that payed off each month. an upside to O/O that i see locations that you want to see and can only take the loads you want to. a major downside is, you will work harder and drive more miles/hours (hope you know how to run 2 log books) since you have a truck payment and insurance that alone will run you 1500-2000 a month if not more. thats not including repairs or fuel. and tires are expensive too. i personally don't see how O/O are making it right now. i have seen many park there truck(and these trucks are paid for) just to drive company trucks. and then getting loads. who you gonna call ? so many brokers out there and i haven't heard a good thing about one in awhile. i'm sure alot of it's out of frustration from drivers not getting paid or what not but some of it has to be true to the fullest. and i hate to say it but women do get treated diferently than men do out here. your not playing on a level playing field and there will be a wall behind every door you open. it's up to you on what you do if you survive this or not. did i say 20G, might wanna make that 30G. not trying to discourage you but i wouldn't reccommend on going O/O right now. the economy is too un setteling right now. try talking to an OO and find out as much as posible. ask him these questions you present. learn what happens behind the scense and not him/her just driving the truck. good luck to you

[bigtime]

Becoming an O/O or an true independent is like getting married, about the same success rate too. And yet we all continue to do both. Crazy or stupid? Lets vote. : )