How To Start A Trucking Company Llc – Want to see how much it costs to start your own transportation business? We’ve put together a list of the top expenses to expect when starting your own business. Use your own annual overhead cost figures to get your own estimate.
Not sure how much it will cost you? Use the standard calculator amounts (which is what I spent to start my trucking company Haulin Assets).
How To Start A Trucking Company Llc
You can click on each item to get a brief explanation of what each item is or see below for a more comprehensive overview of how this calculator works.
Trucking Industry In The United States
We are happy to help you go through this calculator or anything else you need help with starting your transportation business. Get in touch!
This calculator is not intended to calculate your monthly expenses. Instead, you can use it as a starting point to figure out exactly how much you need to put down to start your business. The numbers you use don’t have to be absolutely accurate, but just accurate enough to get an idea of how much cash you need to have on hand to start or take ownership of your trucking business.
As part of my calculator, you can use my costs to get an idea of how much you’ll need, but as with any business, this number varies wildly. When I started Haulin Assets, I didn’t have the best case scenario because I didn’t have a truck, trailer, or other equipment like a GPS that truckers might already have.
You can compare my costs to the best-case scenario below and read more about each scenario here or gain more insight into the costs of starting a transportation business.
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The cost of the truck can vary greatly depending on whether you buy new or used. As a general rule, the down payment is about 10-20% of the total cost of the truck. While used prices can vary widely, new semi trucks can cost anywhere from $80,000 to $150,000. This number does not include your truck’s monthly payments.
You can use my free spreadsheet to help you compare the cost of a number of trucks, but for my down payment I paid $13,486.
As with the truck, you can also expect a 10-20% down payment. I ended up paying $4,893 for that down payment and buying a refrigerated container. You can learn about the pros and cons of different types of trailers and how it can affect costs.
This item includes everything you need in your truck to be prepared, from a fridge and microwave to a reflective vest for shippers. If you already had your truck set up properly, this cost can be as low as $300, depending on what you need.
How To Start A Successful Trucking Company
Don’t do all the paperwork yourself, if you can help it. A professional service can help you organize what you need, avoid what you don’t, and save you money in the long run. This section includes costs such as:
I focused on getting this right, so this number is as low as I could get it for my specific situation, but costs vary by state.
Registration fees vary wildly by state, so there’s no good way to estimate it. You can use my number as a general idea, but know that it can range from $600 to $4,000.
Insurance is a huge investment and can vary greatly depending on how long you’ve been driving, what you plan to carry and your driving history. This is a bigger expense as you can expect to pay a few thousand just like a down payment.
The Cost Of Starting A Trucking Business: Explained Step By Step
Learn how to get truck insurance or listen to Haulin Assets for more information on how to find the right insurance company and get an accurate quote.
As an entrepreneur you may not have had to deal with this, but most owners have occupational accident insurance. You only have to pay the first month’s premium as a start-up fee.
If you choose to purchase occupational injury insurance, you don’t have to get workers’ compensation, but you must pay the appropriate compensation for the waiver.
While you could argue that this is not a necessity, you should proudly display your trucking business on your truck as the appearance of your truck resembles your professional image. It can help shippers remember you and it also looks good during inspections.
Trucking Company: How To Start A Trucking Company, Be Your Own Boss, And Make Good Profits: Bowen, Gus: 9781647483890: Books
While this is an optional expense and should not be included in your startup costs, it is a good investment that can save you money.
An ELD is an electronic logging device to keep track of the miles you drive and more accurately track your hours of service (HOS). There are some relatively inexpensive ELDs out there, but you should find one that is accurate and reliable.
While you could use your phone to navigate, a good truck GPS can keep you from ending up on a road that isn’t built for semi trucks.
If you are already on the road and have a good GPS, you can mark this expense as $0.
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How much you want to pay for this depends on you. As a business owner, you can expect to need your phone and internet to keep in touch with your brokers
If you already have a good telephone and internet subscription, you do not need to include this in your start-up costs.
Some ELDs require your phone or a portable device to work. If you don’t want to use your phone, invest in a tablet. But this release is optional.
The standard numbers in this calculator are what I used to start my own trucking company Haulin Assets. Once your business is up and running, you can use our mileage calculator to manage your expenses and not spend more than you earn.
Temperature Controlled Trucking
If you want to learn more about how to pay for it yourself, I’ve covered all that and more in my Haulin Assets podcast. Checking out:
And to learn more about managing your business, track my monthly expenses or see how I made $200,000 in my first year as an owner-operator.
With over 40 years of experience in the industry, we’ve put together this free guide for you. download it for more information
Are you ready to be your own boss? Get your new coach authority with Motor Carrier HQ. Watch this video to learn more about us and how we can help you start your own transportation business today!
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I enjoy working with the staff and how it was a no sales pressure approach. This approach enabled me to take my time and make a decision to move forward with my transportation business. The staff is very knowledgeable and ready to answer any questions you may have. Tyler was my rep and I couldn’t be happier with his service.
I’ve been listening to the Haulin Assets podcast since it started and I knew when I was ready to start my DOT I’d let the guys at Motorcarrier HQ take care of it well they didn’t disappoint how quickly and professionally they started my LLC and gave me my DOT numbers, I’m going back sometime next year to get my MC up and running and complete the process of getting my authority, hope this helps someone who is on the fence.
Extremely professional and armed with all the compliance knowledge needed to get your transport company off the ground. We look forward to a long relationship with Motor Carrier HQ and especially our great account representative Matthew.
Very good experience. Tyler is great to work with. Very reliable and trustworthy. If you want to open a transport company, I would only use this company.
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The staff at Motor Carriers head office are very helpful. I would highly recommend starting your business with them. They are professional, knowledgeable and very patient. Whether you buy from them or not, they answer every question. I was paired with Mathew and I don’t think I could have received anyone better.
They make it easy for you by providing everything you need with just one phone call. Will continue to use them as it is a great value and time saver.
If you found our calculator helpful, get a free consultation from one of our coaches to help you figure out what you need to be your own boss. If you’ve been a truck driver and are ready to take the plunge and you become your own independent owner-operator and start a transportation business, we’ve got you covered. We’ve put together this complete checklist of all the items you need to be your own boss. We have written a long version of how to start a trucking business so you can read all the details.
Before we begin, we highly recommend doing your due diligence to determine if getting an MC authority is definitely right for you. As you probably already know, not all owner-operators require a license. Drivers for can lease with us and earn over $17,000 per month
Our Client V. Confidential Trucking Company
How To Start A Trucking Company
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Author by : Howexpert
Languange Used : en
Release Date : 2020-01-30
Publisher by : Howexpert
ISBN :
Description : If you want to learn the basics of having a trucking company business, then get "How To Start a Trucking Company" which is written by a person with real life experience starting a trucking company business. How To Start a Trucking Company is a guide designed to help anyone who is interested in starting a trucking business. In this guide you will learn how to operate your company the right way. This guide will take you step by step through the whole process, from start to finish. Whether you decide to start with one truck or 150 trucks, you can use the information in this guide to put you on the right path. This guide discusses the first step to take after you have made the decision to open a trucking company. You will learn how to obtain the paperwork needed to apply for your company name as well as Employer Identification Number. You will be given tips on how to advertise your company and advertise for drivers. New rules for the trucking industry are in a section called CSA 2010, giving you the new information from FMCSA and how it will affect the way most companies are operated. Information pertaining to driver qualifications, physicals, and experience will be discussed. In this guide, you will find out how trucking software helps your company with dispatching, inventory control, personnel time sheets, drivers and equipment. This guide will show you how to obtain freight, the contract with certain customers and how to write a proposal to a company to haul their freight. Analyzing your competition is a great section that tells you how to search for the freight you want to haul and see what other companies are also moving freight for that customer. Before you do all that is mentioned above, you must first write a business plan and calculate you start up costs. This will be discussed in detail in the first section of this guide. You will find out what the differences between S Corp, C Corp, and LLC, which will be the best for your type of business. There will information on how to apply for financing from SBA and grants from other government agencies and private financing. By the time you get to the end of this guide, you should be able to follow each step and have your company ready to open within a month, if not sooner. Good luck! About the Expert Marilyn Coleman is a former professional truck driver. She started out as an administrative assistant, but felt like something was missing. She followed her dreams of becoming a professional truck driver and became an owner-operator. After talking with her father, who drove for 25 years himself, she took the step and has been driving for 17 years. During her long career as a truck driver, Marilyn traveled all over the U.S., met some interesting people, visited some interesting places, and learned a lot about the industry. As an owner-operator, she ran a small business with just one truck. She learned how to dispatch and deal with brokers, shippers, receivers, and other drivers. She no longer drives, but still keeps up with changes in rules and regulations in the trucking industry so she can inform her friends about those changes. HowExpert publishes quick 'how to' guides on all topics from A to Z by everyday experts....
How To Start A Trucking Company
READ
Author by : How Expert Press
Languange Used : en
Release Date : 2015-12-30
Publisher by : Createspace Independent Publishing Platform
ISBN :
Description : If you want to learn the basics of having a trucking company business, then get "How To Start a Trucking Company" which is written by a person with real life experience starting a trucking company business. How To Start a Trucking Company is a guide designed to help anyone who is interested in starting a trucking business. In this guide you will learn how to operate your company the right way. This guide will take you step by step through the whole process, from start to finish. Whether you decide to start with one truck or 150 trucks, you can use the information in this guide to put you on the right path. This guide discusses the first step to take after you have made the decision to open a trucking company. You will learn how to obtain the paperwork needed to apply for your company name as well as Employer Identification Number. You will be given tips on how to advertise your company and advertise for drivers. New rules for the trucking industry are in a section called CSA 2010, giving you the new information from FMCSA and how it will affect the way most companies are operated. Information pertaining to driver qualifications, physicals, and experience will be discussed. In this guide, you will find out how trucking software helps your company with dispatching, inventory control, personnel time sheets, drivers and equipment. This guide will show you how to obtain freight, the contract with certain customers and how to write a proposal to a company to haul their freight. Analyzing your competition is a great section that tells you how to search for the freight you want to haul and see what other companies are also moving freight for that customer. Before you do all that is mentioned above, you must first write a business plan and calculate you start up costs. This will be discussed in detail in the first section of this guide. You will find out what the differences between S Corp, C Corp, and LLC, which will be the best for your type of business. There will information on how to apply for financing from SBA and grants from other government agencies and private financing. By the time you get to the end of this guide, you should be able to follow each step and have your company ready to open within a month, if not sooner. Good luck! About the Expert Marilyn Coleman is a former professional truck driver. She started out as an administrative assistant, but felt like something was missing. She followed her dreams of becoming a professional truck driver and became an owner-operator. After talking with her father, who drove for 25 years himself, she took the step and has been driving for 17 years. During her long career as a truck driver, Marilyn traveled all over the U.S., met some interesting people, visited some interesting places, and learned a lot about the industry. As an owner-operator, she ran a small business with just one truck. She learned how to dispatch and deal with brokers, shippers, receivers, and other drivers. She no longer drives, but still keeps up with changes in rules and regulations in the trucking industry so she can inform her friends about those changes. HowExpert publishes quick 'how to' guides on all topics from A to Z by everyday experts....
How To Start Trucking Company
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Author by : ARX Reads
Languange Used : en
Release Date :
Publisher by : ARX Brand International LLC
ISBN :
Description : Are you looking to get into Trucking but aren't exactly sure where to start? In this book, I'm going to go over starting a trucking company and what are the first steps of starting a trucking company, from the complete basic beginning of getting a CDL commercial driver's license all the way through painting your motor carrier number and your DOT Number. I cover topics like types of MC numbers and clarifications and when you need both the MC and the DOT numbers....
How To Start A Trucking Company Business
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Author by : Ryan Carnegie
Languange Used : en
Release Date : 2019-11-07
Publisher by :
ISBN :
Description : Would you like to start your business and finally be in control of how much you earn? Here comes the secret to making good profits and becoming successful at your own trucking company business. If you have been considering starting your own trucking company but do not know the exact way to start or the basic requirements needed, then this book is for you. Many people conceive ideas of starting a business but chicken out at the point of execution, I don't blame you, I have been in that shoe and that is why I am writing this book to help you get over that fright. This book will guide you into making your dream come to reality. Not only will it help you in getting started, you will discover the secrets of becoming successful in no time. Here are the some of the things you'll discover in this book. The basic requirements of setting up a trucking company Secrets your competitors in the industry engage in to stand out. The right trucks needed The best way to go about starting your business. Proven strategies for getting clients fast Common mistakes every beginner should avoid How to use social media to grow your business Tips for getting good drivers and lots more. Are you intrigued yet? So, what are you waiting for, scroll up and click on the BUY BUTTON NOW and get all the motivation and guide you need....
Owner Operator Trucking Business Startup
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Author by : Tom Bassia
Languange Used : en
Release Date : 2020-11-19
Publisher by :
ISBN :
Description : Do you dream of being your own boss? Do you crave the freedom of the open road? Do you have a passion for logistics? Starting an owner-operator freight trucking company is for you! In my book, Owner Operator Trucking Business Startup, I will show you how to start a freight trucking company. When you own and operate a trucking business, you can experience the freedom to set your schedule, experience the thrill of the open road, and be your own boss. It's a win-win! Even if you have no experience driving or working in the trucking industry, you can still have a leg up on the competition if you know the financial aspects of starting a business. While you'll need to learn specific requirements and unique demands of the industry, you'll still have a good idea of running a business and making it a success. Time and effort are all you need to learn the aspects of a trucking business you may not have experience with. However, it is still a good idea to consider what your talents and capabilities are in order to see if you have what it takes to start a trucking business. You should also take a step back and ask yourself exactly why you want to start a trucking business and whether or not you are prepared to do so. This book will teach you how to start, run, and grow a commercial freight delivery trucking company. We will start with the basics of starting any business - choosing a name and business structure. Then we will craft a plan for your business before writing a business plan. I will guide you in deciding your niche, what sort of drivers you will hire, and where your base of operations will be. We will define freight logistics types, including dry van, specialty loads, reefer, tankers, flatbed, and livestock. Then, I will teach you how to write a winning business plan for your new trucking company. I will teach you what to do before you physically write your business plan, as well as exactly what to include in the business plan document. I will take you through the entire process of establishing your new trucking company from idea to launch. I will tell you what licenses and permits to obtain and how to get a trucking authority. I will teach you what acronyms like USDOT, IFTA, IRP, and HVUT mean and why they are important to you as an owner-operator trucking company boss. We will discuss if you should buy or lease equipment and examine the pros and cons of how you can obtain the right equipment. You will learn about what insurances to buy and how to factor in income and expenses. I will teach you how to calculate freight rates and how to build a freight bill. I will show you how to find loads. Without loads, you can't deliver a service and can't make money! We will examine the different online load boards, paid and free versions. I will teach you how to find trucking contracts and keep recurring customers. I will show you 9 specific ways you can grow your trucking company business. I will also teach you how to use branding, marketing, and advertising to your advantage. I will also teach you how to hire and retain great drivers, what ways to utilize drug testing, and how to keep documentation to stay in compliance. Once you have read this book, you will know what you need to begin a freight trucking business, be your own boss, and work on your own schedule. Be sure to click "Buy Now" to start your CDL trucking venture!...
Trucking Business Secrets
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Author by : HowExpert
Languange Used : en
Release Date : 2016-09-14
Publisher by : HowExpert
ISBN :
Description : You definitely want to have a good guide on everything you need to succeed in the trucking business industry. This book will keep you out of trouble in all facets trucking business. The trucking industry has the luxury of being able to recover from small miscues, but not many of books out there go the the length this book goes to discuss matters Trucking. In this book you’ll learn.! • Define The Role Of The Broker And Agent • Here's How The Industry Works • Why Get Operating Authority • Financial • Shipping Own Product • More Home Time • Region And Customers • The Money In Trucking • Abide By The Industry's Standards • Satisfy The Steps To Become An Agent • Understand The Industry's Work Environment • Familiarize Yourself With Industry Terms • Build The Steps To Become A Broker • Consider The Big Picture • What You Can Expect • Mechanical Problems • Regulatory Problems • Financial Problems • Communication Problems • What To Spend (Or Not Spend) Money On • Good Investments • Bad Investments • Step Nine Discover Self Pace & Time Management Success About the Expert Bruce Stimson started his factoring career in 2001, when he founded QLFS, which eventually became the Invoice Trucking Group. Mr. Stimson led the firm through its initial growth and established it as a leading provider to startups and small companies in the New England region. After QLFS, Mr. Stimson launched Trucking Capital LLC to provide services in the USA, Canada and Australia. Under his leadership, Trucking Capital LLC has expanded to offer a number of business finance products and can help companies in most industries. Trucking Capital LLC is one of the few companies that offers micro-factoring (also called small-ticket factoring), which helps early-stage companies with limited revenues. Small business factoring has been ignored by larger factoring firms and banks, establishing Mr. Terry as a pioneer in this market. Before starting his career in finance, Mr. Stimson held several management positions in operations and marketing in the telecommunications industry for eight years. He earned a Master’s Degree in Finance with a concentration in banking. HowExpert publishes quick 'how to' guides on all topics from A to Z by everyday experts....
How To Start A Trucking Company
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Author by : Latrice Robinson
Languange Used : en
Release Date : 2020-01-04
Publisher by :
ISBN :
Description : A step-by-step guide on how to start a trucking company....
