A Brief Guide to Open Your Trucking Company

So, you want to start a trucking company, but you are confused about how to get started as there is so much involved. For instance, you will need different forms and know where to get them and the chronological order you need to complete them. 토토커뮤니티

Here are some things that will help you start a trucking company:

Get an MC Number

Also, there are two important questions that you need to answer:

Do you plan to haul freight across state lines?

If the answer is yes, then you will be hauling interstate freight. Subsequently, you will need to get MCA (Motor Carrier Authority), also known as the MC Number.

If you don’t want to haul freight across state lines, you will be hauling intrastate freight simply within your state. Typically, the requirements of intrastate are fewer as compared to interstate freight.

However, the requirements differ from one state to another.

The second most important question that needs to be answered before you start a trucking company is whether you plan to drive a truck yourself or will you be managing the fleet. In the latter case, you can immensely benefit from fleet management software.

Nonetheless, if you plan on becoming a truck driver, you will need a CDL, also known as a commercial driver’s license. To get your CDL, contact your state DMV to learn more.

Usually, trucking company owners aren’t required to get a CDL, but all of the drivers you will hire must have a CDL.

Set up Your Business Entity

Since your trucking business will need a name, we recommend checking out the best Name Matching software. Nonetheless, you will be required to set up your business structure. Typically, there are four types of business entities:

  • Sole Proprietor
  • Partnership
  • Limited Liability Company – LLC
  • Corporation

We recommend researching each business entity type to decide which one will work best for you. For instance, if you decide to go with the LLC entity, it will provide your trucking company the protection of a corporation with the simplicity of a partnership or sole proprietorship.

For setting up your business entity, you are required to go to the Secretary of State of your respective state or any similar office. The potential costs of setting up your business entity will vary from one state to another.

Get Your Business Insured

As a business owner, you will need proof of liability insurance coverage typically within ninety days of filing for your authority. It is also recommended to get cargo insurance since most brokers and shippers will require it before you can haul for them.

Again, you are required to conduct thorough research before signing up for coverage insurance. You need to get a few quotes from different insurance companies and choose the best potential option for your trucking business.

Insurance is one of the highest upfront costs. The initial down payment can go up to $6000 for your fleet, whereas the monthly payment can go up to $3000 for each truck. Also, remember other costs that are involved in fleet management and repair.