Trucking is a huge part of the US economy, with truckers hauling well over 10 billion tons of freight each year. There are about 3.5 million truckers in the United States, with millions more employed in the industry, and the outlook for employment and growth has almost always been good.
If you are just starting out in the trucking industry, one of your most useful tools will be a well drawn out and clear business plan. A business plan is just what it sounds like – a written overview of your proposed business, designed to outline the type of business, the potential market, any future plans for growth, and anything else that presents your plan in a positive, yet realistic way. An effective business plan for a new trucking company will focus on your company’s individual objectives, as well as relating that information to the requirements of the industry in general. The right plan will present your company in a positive light, and appeal to investors, finance companies and perhaps potential employees.
Your business plan should describe your proposed trucking business in detail, including your reasons for starting the business, the type of cargo you intend to carry, and any companies you plan to work for. If you can show some evidence of a relationship with some of the companies that manufacture the goods you will be transporting, it can make your plan look stronger and more appealing.
Another important component of any good trucking business plan is the financial side of the business. Your plan should go into detail about your planned costs, and how you intend to raise that capital; for example by taking out loans. Your plan should also cover the costs of operating your business, including truck maintenance, driver salaries, insurance and anything else. Finally, you should also indicate how much money you expect your trucking business to make, especially during the first few months.
Your trucking business plan should also address any advertising or marketing you intend to do, especially if you have a lot of completion nearby. Outline not only the costs, but also whether your trucking business will use an outside firm to advertise, and how much revenue you expect it to generate. Don’t forget the administrative details in your trucking business plan – always include such information as the management structure, how you will hire drivers, driver training and how you plan to meet licensing regulations.