Truck Owner Operator Business Plan

Truck Owner Operator Business Plan-18
Go online, find a few trucking forums, ask questions.Go to truck stops if you can and talk to drivers you see hauling the kind of freight you’re interested in.

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Many owner-operators lease on with a large carrier who then handles everything from finding customers to doing most of what’s listed above in No. This leaves you to drive, maintain your vehicle, and prepare and pay your taxes.

Leasing your equipment on to a company means they’ll take a small percentage of what the load pays, which is often worth it, especially when you’re first starting out and learning the ropes of being independent.

Trucking is a federally regulated industry, and whether you’re intrastate or interstate, there are requirements you’ll have to meet for both.

The links below will allow you to access the information you need to get started in these areas: In addition, you’ll also need insurance for your business — liability, bobtail and cargo, to name a few.

— and which one you’ll use will be determined by the type of freight you expect to haul.

There are many tractor types available, too, so you’ll want to narrow it down to the one that meets the specifications of your operation. Tractors can range from ,000 for a used model to 0,000 for a custom sleeper truck.When most people in our industry say they’re starting a trucking company, they usually mean they’re becoming an owner-operator.An owner-operator is just what it sounds like — a person who owns and operates the truck in their company.Start at the Federal Motor Carrier Safety Administration’s page that answers the question: How do I get a Commercial Driver’s License? Your first stop: the following list of questions that you’ll need to ask yourself before starting a trucking company.As with any business, every topic you research will branch off in many directions, with more questions cropping up that need answering. There are many trailer types to choose from — van, refrigerated, flatbed, RGN (removable gooseneck), step-deck, tanker, etc.Whether you decide to file taxes yourself or hire a professional, it’s important to be familiar with the trucking industry’s unique deductions, including per diem, fuel tax, repairs and equipment depreciation, not to mention the numerous small business deductions available to you. Other endorsements might be needed to pull certain trailer types, such as tankers, doubles and triples.Having a good accountant familiar with tax law, tax codes and possibly even the trucking industry will be extremely helpful. Inquire about these at your local motor vehicle department.Other drivers handle everything themselves, using load boards such as Get Loaded or DAT to find loads, which they then book themselves and manage payment on their own or through a factoring company.Do your research to figure out what will be the best path for you.Make sure to check minimums, and get enough to cover cargo damage.There are several companies that deal primarily with the trucking industry, and they can help you determine what fits your operation.


Comments Truck Owner Operator Business Plan

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