The freight industry is growing, with a focus on new and small trucking companies. Emerging entrepreneurs and career owner-operators are looking to start their own trucking companies to carve out a lucrative position in a market that is virtually untouched by larger carriers. However, before you launch, there are a few things you need to start your own trucking company.
Trucking Start-Ups Are Versatile
As the market has shifted to e-commerce, LTL and last-mile deliveries are becoming increasingly important to consumers. Larger carriers cover the main routes, but they rely on smaller trucking companies to cover the markets and streets they cannot reach, such as rural areas and even more residential areas in cities. The result is an increasing demand for smaller trucking companies by consumers, shippers, and even large carriers.
Preparing to Launch Your Trucking Company
Starting a trucking company requires more paperwork and decisions than most other businesses. You will need to establish an LLC, apply for USDOT and MC, register with the proper state and federal agencies, select a compliance partner, find affordable insurance, and select a factoring company. Most of those items need to be handled concurrently and navigating the forms, paperwork, and agencies requires a clear head and determination because the result can be very rewarding. Many of the forms require a knowledge of how the bureaucratic side of the trucking industry, as well as the IRS, both function. Omitting information on forms or entering incorrect information can delay the launch of your trucking company by weeks or months.
Do Your Research
If this is your first trucking company, getting started may require some research. As with any complex process, numerous companies out there claim to take care of the process for you while doing very little and charging a lot. The best method is to make a list of everything you need—next, partner with a company with a solid reputation and who directly works with the trucking industry. A seasoned partner who has been through the process of launching a trucking company can provide you with a guidance and advice you need to make the whole venture as painless as possible.
Launching Your Trucking Company
Single Point Capital works with both existing and emerging trucking companies throughout the United States. Single Point Capital provides 100% free USDOT setup for owner-operators and helps new trucking companies apply for MC numbers. We offer guidance and answer your questions every step of the way to have a successful launch. We also provide comprehensive factoring services, so your new trucking company has healthy cash flow. Last, Single Point provides fuel discounts, load boards, compliance, dispatch services, and accounting services. We will handle the setup so you can focus on running your new trucking company. Our team is always available to clear up any grey areas and give you an obstacle-free path between you and a successful launch for your trucking company.
If you want to start your own trucking company, contact the team that works directly with the freight industry. Reach out to Single Point Capital today.