Starting a new business venture is always an exciting and stressful undertaking. If your new business happens to be a long haul shipping company, then you’ve got a variety of factors to consider and prepare for. There are some steps you can take to help you get started and ensure your business gets off on the right foot.
Get Your Fleet Set Up
Often these long haul shipping businesses are started by truckers who have been in the industry for years, and are looking for a way to expand and make their own mark. Maybe you’ve got your own Beavertail trailer and you’re looking for a way to make additional money. Regardless of what led you to starting the business, the first thing you’ll need to do is get your fleet in order. This means renting, leasing, or purchasing trucks that will be used to make the deliveries. Keep in mind each of these trucks will also need to be insured.
Decide What Kind of Shipping You’ll be Doing
As you start to shop around for your fleet you’re going to need to start thinking about what kind of shipping and deliveries you plan on doing. This will determine the size, type, and amount of trucks you’ll need in your fleet. There’s a good chance you will want to start out on the smaller end and let your growing business determine how and when you expand your fleet down the road.
Gather Up a Crew of Drivers
Now there is a good chance you won’t be the only driver in your business, which means you will want to start recruiting other drivers. If possible, look from your own pool of contacts. Drivers typically know plenty of others in the business, so now is the time to approach the ones who you respect, and who you know are great drivers.
Before you even open the doors of your new business, it’s important to start researching the competitors so you know what they charge for their services. The last thing you want to do is price yourself incorrectly by either asking too high of rates or not enough.
Formulate a Business Plan
By now a pretty strong business plan should be starting to form and this is a great time to get it down on paper. This plan can then be taken to speak with your personal finance advisor who will help you with the cash if needed. A business plan is meant to give your company direction by setting out its goals and purpose. You can include both short-term and long term plans in it.
Decide What Kind of Business Model You Will Use
Most trucking companies choose to be a limited liability company (LLC) as their business model. There are a number of reasons this is the preferred option, but it’s best to speak to a lawyer before you make your final decision.
You’re Ready to Start
Now that you’ve followed all the basic steps you’re ready to get started as you enjoy life as a business owner, setting your own hours and the direction of the business.