Browse Tag

Pierre Laguerre

Published on
1 min read

How to Make $5,000 a Month Running a Trucking Business From Home

pierre laguerre trucking

Pierre Laguerre is the founder of Fleeting, a trucking and fleet management services company that he grew to $4.5 million in revenue in just 3 years. He is also the first Black man to raise over $1 million via crowdfunding platforms.

In this interview, Pierre shares:

  • Thoughts on the current state of the trucking industry
  • How to get into trucking without being a driver
  • Removing the misconceptions attached to trucking
  • Why investors like the trucking industry
  • How a personal tragedy inspired him to educate others
  • Topics included in his new trucking course

Please LIKE the video, SHARE and SUBSCRIBE to our YouTube Channel

 

-Tony O. Lawson

LISTEN BELOW

Podcast: Play in new window | Download

You might be interested in

Published on
4 mins read

How I Raised $1 Million in Business Funding

business funding

Roughly 45% of businesses don’t make it past the five-year mark. One of the most common reasons for this failure rate? A lack of business funding.

Now, this isn’t to say that money isn’t available—the chances are that if you’re got the fundamentals of your business laid out, the money is out there.

Ultimately, it comes down to how you manage to acquire it. And that’s exactly what this article is going to cover.

How I Raised $1.07 Million for My Trucking Business

2020 showcased a remarkable accomplishment for Pierre Laguerre, the founder of Fleeting, who became the first Black man to raise the maximum amount possible ($1,070,000) through crowdfunding opportunities in the span of 12 months.

Fleeting is a platform that connects companies with experienced and qualified CDL drivers. Since trucking is a critical part of the supply chain, which constitutes the backbone of the economy, many investors quickly took the chance to weigh in.

How to Raise Capital for Your Business

When it comes to the trucking industry, entrepreneurs might find that they need more than just dedication. Starting a trucking business is an excellent decision because the trucking industry isn’t going anywhere, but it often always requires high capital investment for startup and operations.

That said, there are still several ways you can finance your business:

1. Use Equipment Lenders

With a well-managed business plan and some existing capital, you stand a higher chance of getting financing from equipment lenders. Many lenders provide tailored solutions that you can use for your trucking business, which will eventually help you bring in more investors.

2. Crowdfunding

When compared to other methods of raising capital or financing a business, crowdfunding is definitely a newer option. Despite being new, however, it’s quickly risen in popularity as a way of funding, and we’re no exception to this.

Crowdfunding functions much like a loan, pre-order, or investment—just from several people instead of one person or entity. As an entrepreneur, it will be your responsibility to sell your business on the crowdfunding platform, including your goals, plans, amount of funding required, etc.

3. Enter a Franchise Agreement

Entering franchise agreements with interested parties can be extremely useful to grow your business quickly. This arrangement allows other owners to use your name for their business while paying you a franchise fee as well as a portion of their profits.

4. Look into Freight Bill Factoring Financing

A problem you’re likely to run into in the trucking industry is delayed revenue. In some industries, this may not be a problem, but a trucking business will rack up operational costs that need to be paid off.

If you’re just starting out and don’t have an immediate cash flow, freight bill factoring financing can help. Freight factoring companies essentially buy your invoices for immediate payment, and then wait to be paid by the clients.

Ultimately, there are several ways to grow your business, depending on your needs.

Don’t miss any of our articles: subscribe to our newsletter and follow us on Facebook, Instagram, LinkedIn & Twitter.

You might be interested in

Published on
4 mins read

7 Steps to Starting a Successful Trucking Business

trucking business

The trucking industry can be very profitable, but it is also extremely competitive. Every year, many truckers attempt to enter the industry and fail.

Usually, this happens to people who are great drivers, but not effective business owners. It takes more than just knowing how to drive a truck or choose a route to run a successful trucking business. Check out the seven steps below to learn how to start a successful trucking business.

trucking business

1. Create a Business Plan

Just as you would begin a new job with a fresh outlook and set of goals, you should start a new trucking business with an organized plan. A business plan serves as a roadmap to success and can be tweaked as your business grows. It assists you in getting organized, identifying goals, articulating your value proposition, and evaluating possible roadblocks.

2. Obtain Your Commercial Driver’s License

If you operate your own truck or hire drivers, they must have a valid commercial driver’s license (CDL), as required by the Federal Motor Carrier Safety Administration (FMCSA). Drivers aged 21 and over can apply, while those aged 18-20 can drive intrastate.

3. Get Your Trucking Authority

When you search for information on how to start a trucking business, you’ll realize one of the first steps to take is to get your trucking authority. Trucking businesses must have an operating authority when they work as a hired carrier over state lines for vehicles more than 10,000 gross vehicle weight (GVW).

4. Identify Your Business Type

You will need to file taxes with the IRS when you start a trucking business. You need to choose the type of trucking business structure you want to establish. For example, you may establish a sole proprietorship, partnership, limited liability company (LLC), or corporation. Consult a tax accountant if you have questions.

5. Set Up a Business Bank Account

Set up your small business bank account and business credit card. So you can separate your personal funds from business funds for tax planning and establish a good business credit score in case you need funding or a loan in the future. You can start building your business credit right away once you have your business account. It will also be possible to apply for a business license, permits, and insurance as soon as you start your trucking company.

6. Choosing the Right Insurance Coverage

When you become an owner-operator of your own trucking company, you will have to obtain business insurance. The most reliable thing to do to secure the best available premium is to contact several agents and consider the following options before selecting a policy.

  • Cargo insurance
  • Primary liability insurance
  • Passenger accident insurance
  • Physical damage insurance

7. Ensure Compliance

It is your responsibility as a business owner to ensure that you are in compliance with all applicable laws and regulations. This includes filing quarterly tax returns, renewing CDLs, and staying up to date on state and national trucking industry regulations.

Furthermore, brokers want to hire and work with carriers that have up-to-date regulations in order to reduce liability. Keeping up-to-date on regulations and monitoring compliance is critical to being successful as a truck business owner.

Don’t miss any of our articles: subscribe to our newsletter and follow us on Facebook, Instagram, LinkedIn & Twitter.

You might be interested in

Published on
4 mins read

Pierre Laguerre Launches Academy To Show How He Created a Multi-Million Dollar Trucking Business

Pierre Laguerre

Pierre Laguerre is the founder of Fleeting, a trucking and fleet management services company that he grew to $4.5 million in revenue in just 3 years. Pierre is also the first Black man to raise over $1 million via crowdfunding platforms.

To show others how he raised capital for his trucking business and how he has managed to run it so successfully, he is launching  Pierre’s Academy, a comprehensive entrepreneurial trucking academy.

We caught up with him to find out more about this new venture and why he is passionate about it.

Pierre Laguerre
Pierre Laguerre

Why did you decide to launch Pierre’s Academy?

After spending 19 years in the trucking industry as a driver and a successful entrepreneur myself, I eventually learned that 40% of the workforce in this $800 billion industry are minorities. Notice, I said workforce, not business owners!

I quickly realized this was an untapped market for minorities to become entrepreneurs and build generational wealth. Not that minorities don’t know this market exists, they just never have been exposed to the business side of the transportation industry.

I decided to launch Pierre’s Academy to teach aspiring entrepreneurs about the business opportunities in trucking. I want to teach as many people how to build their own trucking dispatching business or their trucking companies right in the comfort of their homes.

I want to show them how to make six figures while adding value to one of the most critical stakeholders in trucking, our truckers.

Who is this course for?

This course is pretty much for anyone that’s seeking financial freedom. Everyone from stay-at-home moms that are looking to maximize their earnings, to young men and women from underserved communities who are desperately looking for a way out of their current circumstances.

How is this course different from others?

There are a lot of social media influencers who teach trucking but the majority of them have never spent a day in a trucking operation, nor have they built or managed a business and a team. Their goal is to sell courses instead of adding value and solving a specific problem in trucking,. They often do this at the expense of minorities looking for an opportunity.

So, one of the main reasons why my courses are different from others is the fact that I actually drove trucks for 19 years, I built a staffing agency and a trucking company to $4.5M in revenue in 3 years, and I’m currently the founder and CEO of a transportation tech company called Fleeting which I launched in 2019 and already did over $5m in revenue.

In other words, they get to learn directly from an industry veteran who has done the work and also failed numerous times. With my courses, they can start earning right away after completion.

What information can potential students expect to receive from the course?

The first and most important information students can expect to receive from this course is how to make money in trucking without being a driver. They can expect to learn about every stakeholder in transportation and the challenges they face daily.

They will learn how to build and maintain relationships with key partners ( shippers, carriers, freight brokers, and truck drivers),  the industry dos and don’ts as well as how to communicate effectively.

Students will learn how to start their business from scratch with no prior experience and how to quickly scale. I will also provide one-on-one coaching and support.

Visit Pierre online for more information about course registration or a one-on-one consultation.

You might be interested in