From the explosion of the Internet and the surge in online marketplaces to an increasing population, it has never been a better time to start a trucking business! The trucking industry is forecasted to grow by roughly 4% each year until 2028, providing plenty of opportunities for new trucking businesses.
Along with the potential for financial gain, with the average truck driver making well over the median U.S income, trucking also offers the potential for lots of benefits, schedule flexibility and being able to see lots of the country.
With all these benefits, the trucking business is also very competitive. Therefore, it can seem intimidating to try to start your own business and compete against large, established businesses with thousands of drivers. However, starting a truck business can be simple and successful if you take the time to do your homework. Here are 6 easy tips to help you start your trucking business out on the right foot!
1. Get The Paperwork In
The first thing you should do is attend to all the various licenses and permits to operate a trucking business. If you plan on driving yourself, you might need to update your drivers license and get licensed to drive large vehicles. Additionally, you should take care of trucking insurance and register on the International Registration Plan.
2. Start Small
With all the trucking companies out there, a good way to make your company stand out is to find a specific niche to focus your business efforts on. Do some research on the biggest markets in your area and start there. This will reduce your competition and allow you to focus your limited capital on the areas with the largest payoff.
3. Focus On Branding
Another way to differentiate yourself from the hundreds of other trucking companies out there is to focus on making memorable branding. Having a visually pleasing logo, a catchy slogan or even investing some money into marketing will help get your company’s name out in the minds of potential customers, making it more likely that they will choose to come to you when they need a service.
4. Choose Trucks
Depending on which niche you decide to go into, this will determine what type of equipment you will need, especially when it comes to investing in the most vital part of a trucking business- the trucks! When buying trucks, make sure to do your research on fair prices using comparative websites such as Truck1 and take the time to have your truck(s) thoroughly evaluated by an expert to reduce the risk of breakdowns and to lower your annual truck insurance costs.
5. Get Drivers
So the trucks are lined up and ready to go, but you still need drivers. Depending on the scale and needs of your company, you might decide to sub-contract your drivers to save money. However, as your company grows, you might decide to privately hire drivers for more reliability and consistency. The decision of who to hire will be important to the success of your company.
6. Good Customer Service
The final factor in a successful business is to prioritize good customer service. This is a good way to find new customers before your business has a strong reputation. If you can provide excellent service to your first clients, you will be much more likely to attract future customers and increase the size of your business. At the beginning of your business, every review will count towards building your brand’s reputation so being especially focused on good customer service builds momentum towards growing your business.
All in all, starting a truck business can be simple as long as you are thorough and treat it like a business. Knowing where you fit into the market and providing great services to clients will set your company apart and help your new company thrive!