A trucking business can be lucrative. Without trucking companies, economies would grind to a standstill. From giants like Amazon to small businesses around the U.S., there is no shortage of companies that rely on trucking companies to deliver their goods or receive their needs.
To be successful in trucking, you cannot rely on your truck-driving experience alone. Driving a truck is a world apart from running a company. To point you in the right direction, here are some of the most important parts of the business that you need to cover.
You need a strategy to get the best equipment because whether you like it or not, your equipment is the most important and perhaps the most expensive part of your business. You can get your equipment through leasing, but beware the savvy salesman that does not present you with your best options. Do your research and ask around. Of course, if you have the capital to buy the trucks and other equipment, your life would be much easier.
When you get the equipment, i.e. trucks, don’t forget that it’s not just the price tag. You also need to take care of the maintenance. There are good fleet maintenance providers out there, and also some reliable software for fleet management.
You can’t simply hire a cousin to help them out, or because they’re eager and they have some truck driving experience. You need professionals. A driver should be trustworthy, professional, and reliable. Sign a contract with a professional driver company after doing your homework. Aside from your fleet of trucks, your drivers are your most important asset.
You have the fleet and the drivers and everything else, and figured you might be able to handle all the back-office responsibilities. You cannot be more wrong. You have to realize that what happens in the back-office runs your company. You need reliable staff for it. Find a reputable BPO company if you would like to outsource some functions, including customer service.
For starters, you might want to look at load boards. But you can’t live off them for long, as you might keep bidding against smaller competitors that can afford to bid pennies. Build a decent sales list of the best customers. That means making sales calls, going out and finding your customers.
A trucking company is one of the best business ideas you can ever find. There is no shortage of competition, so be ready. Make a serious effort to do your research and a feasibility study, and work only with reputable companies and customers.