December 21, 2017
How to Start Your Trucking Company in 2020
*Last Updated November 7, 2019.
If you’ve decided that you’re ready to start your own business, it’s time to begin. A new year’s resolution is the perfect time to make big changes. Make plans, get the money you need, and learn which registrations you need and which ones you don’t. A good resource to take the next steps is to listen to our podcast Haulin Assets, for more details on each of these steps, but here’s a brief checklist of what you need to do for a new year, new you:
- Get your Motor Carrier Authority
- Purchase a truck and trailer
- Invest in truck insurance
Get Your Operating Authority
No matter if you’re planning on running as in independent owner operator or hiring drivers to start a fleet, you’ll most likely need to get some form of operating authority and USDOT number to be compliant with the Federal Motor Carrier Safety Administration (FMCSA). A good resource to get started is Motor Carrier HQ’s New Motor Carrier Authority package, which includes:
- FMCSA Filing Fee ($300 required by the FMCSA)
- BOC–3 Processing Agent (filed for free as part of our package)
- USDOT Number
- MC Number (Interstate Operating Authority)
You can order this package online for just $499.
Purchase a Truck and Trailer
We’ve got you covered there, too. Download our free spreadsheet to help you compare all your potential options and get the most out of your buck. Remember, the truck is one of the largest investments you make when starting your own business. Don’t get caught spending more on unexpected truck maintenance.
Episode nine of Haulin Assets covers how to purchase truck insurance, but we’ve also got other resources on what you need to find the right insurance for your business. If you’ve got the truck and the operating authority, make sure you have insurance lined up to stay compliant once your operating authority becomes active.
Read More: How to Purchase Commercial Truck Insurance
How Can Motor Carrier HQ Help?
At Motor Carrier HQ we create a customized game-plan for you and your company. We save you money by only registering for what you need and not what you don’t. Get peace of mind knowing that you won’t be getting fined for improper registration while knowing you didn’t spend more than you had to.
Tips to Make Your Trucking Company a Success
A new year, new you. If you’re considering taking the steps up above, we’re always willing to help. Give us a call at 866-739-2032 and we’ll walk you through how you can get your trucking company started. If you want a few more tips, we’ve got a few things to consider for your new year’s resolution.
Build a Business Plan
Many new year’s resolutions are vague, general plans. For example, some say, “I’m going to lose weight” or “I’m going to exercise more.” While these resolutions are great, they don’t answer the when or how. When deciding on how and when to start your trucking company, make a plan that explains what you need, when you’re going to get what you need, and how you’re going to get it.
Listen to episode one of Haulin Assets to learn what five questions you need to ask yourself to build your business plan.
Plan for Failure
You might have a bumpy start with your new trucking company, and that’s okay! Make sure you have a backup plan in case your business has a slower start than you thought. If you don’t see immediate success, don’t get discouraged. Keep finding loads and keep running. You may find that with hard work, your trucking company can be successful.
Take the Leap
One of the biggest things that stops people from achieving their new year’s resolutions is they don’t start in the first place. While you can start your trucking company at any time, make your new company a new year’s resolution and start right now to make the change.
Find the Reason Why You Want to Start Your Own Trucking Company
If you’re already working as a trucker or are thinking about entering the trucking industry, you may be wondering why you should start your own trucking company. Why put the time and effort into creating an entirely new business? Is it actually possible to make a profit? Is it worth the risk? What are the advantages of running my own trucking company? What are the disadvantages?
To answer some of these questions, here’s the difference between choosing to become an owner operator and being a company driver and the pros and cons of each. Is this a good enough reason for you to take the leap?
Get the Help You Need
You don’t have to start your trucking company alone. If you want to learn more about what you need to get started, call Motor Carrier HQ at 866-739-2032. We are always happy to answer any questions you have about taking the next steps to get your trucking company started. Remember, calling is completely free!