trucking business Archives

Published on October 24, 2022October 24, 2022

1 min read

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

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

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-Tony O. Lawson

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Published on March 19, 2022April 1, 2022

4 mins read

Why This Is a Great Time to Get Into The Trucking Industry

The trucking industry is the backbone of the US economy. Store shelves would be empty without truck drivers, and online orders would go unfulfilled. In fact, if long-haul truck deliveries were stopped, most grocery stores would run out of food in just three days.

Despite the fact that drivers are critical to the flow of goods and supply chains, the trucking industry is currently facing challenges due to a severe driver shortage. This has put additional strain on supply chains, which are already stretched thin as a result of COVID-19 disruptions.

Trucking offers the benefits and flexibility that make it a top career choice for many drivers. If you’re considering a career change, keep reading to learn why now is the right time to begin your career in trucking.

Why It’s a Good Time to Start Trucking

The trucking industry in the United States is huge as it is worth nearly $700 billion. Here are a few reasons to start trucking now:

1. The National Shortage of Truckers

There is a high demand for truck drivers across the country, with small and large trucking companies competing for qualified truck drivers. For new drivers, this means more opportunities to land well-paying jobs with great benefits.

2. Simple Requirements for Training

It is not necessary to have a four-year bachelor’s degree to become a truck driver, and you don’t have to worry about continuing your education either. All you need is a commercial driver’s license. A truck driving school will teach you the skills and knowledge you need to become a truck driver and pursue a career in the field.

3. Stable Salary and Job Security

Truck drivers will be making deliveries as long as retailers need to stock their shelves and warehouses with goods. Many large retailers such as Amazon and Walmart are offering excellent pay and benefits to new and experienced drivers looking for stable salaries and job security. Just make sure you check out their job requirements to ensure you possess the right license type.

4. A Chance to Travel

It’s a great way to see historic sights across the United States. Among the classic attractions for truckers are the St. Louis Gateway Arch, the Hoover Dam, Niagara Falls, and Las Vegas.

You may not be able to see these attractions from the road, so consider taking a cab or hopping on a bus. Whether you’re taking a lunch break or need a 34-hour reset, these attractions offer great rejuvenation.

5. Flexible Working Hours

If you choose to become an independent owner-operator, you’ll be your own boss. This means you can decide how much (or how little) you want to work, which loads to haul, and which holidays to spend at home with your family. No more 9-5 prison sentences!

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Published on March 11, 2022April 1, 2022

4 mins read

7 Steps to Starting a Successful 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.