Four Necessities When Starting Your Own Small Trucking Company

Did you know that a majority of the trucking companies in the United States are smaller companies that have only one to six trucks in operation? If you have ever thought about starting your own small trucking company, here are four things you'll need in order to be successful.

The Right Trucks and Equipment

The type of truck you need will largely depend on the type of cargo your small trucking company will be hauling. For example, if you plan on operating a company that transports automobiles from one location to another, you will need an open-air trailer. If you plan to haul a variety of cargo, you'll probably want to invest in an enclosed trailer.

Buying the right equipment is probably going to be your greatest expenses. In order to decrease your costs, you may want to consider buying a used truck and equipment.

The Right Customers and Contracts

Getting the right equipment is a great start when owning your own small trucking company, but you'll also need to the right customers and contracts. One way to find shipping customers is through something called a trucking load board. Some other ways to find customers and contracts include:

  • Freight brokers
  • Dispatch services
  • Register as a government contractor
  • Contact shippers in your area

Of course other ways to find customers and contracts include putting an ad in the local newspaper, using social media, and networking.

The Right Small Trucking Company Software

Something that will help immensely when it comes to operating your own small trucking company is having the right software. The right small trucking company software will help you with the following:

  • Accounting
  • Dispatch
  • Safety compliance
  • Document management
  • International Fuel Tax Agreement (IFTA) reporting

Some types of software have added features such as two-way texting, bid management, fleet maintenance, and customer relationship management. Many small trucking software companies offer free demos so that you'll know what it can do before making the purchase. Some software comes with an app that allows two-way communication between drivers and the ability to upload documents from a mobile device.

The Right Attitude

Staring your own business can prove to be very difficult. In fact, according to some statistics, 80 percent of businesses fail in the first 18 months. One thing that can greatly improve your chances of success is by having the right attitude. This means not giving up when you face challenges, and always choosing to be self-motivating instead of self-defeating.