A Sample Trucking Company Business Plan Template. The haulage and logistics business is one of the most lucrative businesses. But most people shy away from this business because of its risky and capital intensive nature. Do you want to learn how to start a trucking business from scratch? Do you need a sample trucking business plan template or feasibility study report? Then i advice you read on.
Starting a trucking business has been an idea i have been toying with for some time now. Regardless if you are an entrepreneur or an employee truck driver, starting a trucking business must have caught your imagination also. NOTE- : This article is culled from: “The Complete Guide to Starting a Trucking Company from Scratch.”Before i get into the nitty gritty of this write up, i want to state the fact that the trucking industry share similar fundamental and technical factors all over the world. So while i will be using Nigeria as a case study in this article, the lessons / information can be applied or replicated anywhere else; whether in the United States, Canada, India, Australia, U. K, etc. As it stands, the trucking industry is one of the biggest businesses in the world. In fact, in the United States alone, the trucking industry produces over 3.
In Nigeria, haulage business and even logistics is a billion dollar business with an insatiable market. This is because transporting goods across long distances has become an important industry.
PowerPoint templates with a focus on transport. Includes trains, taxis and boats. Are you interested in starting a trucking business or haulage logistics? Do you need a sample trucking business plan template + feasibility study? Click here to view this full business plan. Trucking Business Plan Executive Summary. Mike’s Trucking Service is a Dallas, TX based trucking company that aims to be one of the largest trucking companies in the USA. A Sample Dump Truck Business Plan Template. Business Overview; A dump truck or dumper/tipper truck as it is called in some countries, is a truck that is used for transporting loose material such as sand, gravel, or dirt for.
No matter the industry you find yourself, you must transport bulk goods to and fro (both raw and finished goods). That makes the haulage industry a very lucrative one. Now if you are interested in knowing how to start a trucking business; you have come to the right place because I will be sharing some tips to help you succeed in this field. Your journey to starting a trucking business begins here. But before I go into the details of starting a trucking business, I want to emphatically state that the information provided in this article does not in any way replace the need for you to conduct a feasibility study, write a trucking business plan for your trucking business and do your own due diligence. Here is a sample trucking business plan template you can start with.
Your Personality- : Yes, the first thing that should be considered is your personality. First, you have to be certain that this is what you really want to so.
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Are you about starting a trucking company (transport)? If YES, here is a complete sample trucking business plan template & feasibility report you can use FREE. TAG Truck Center filed construction documents showing it intends to build facilities valued at more than $23 million at the old Mall of Memphis site. One application for a construction permit shows that TAG will.
You must be prepared to deal with dishonest drivers, shady mechanics, accidents and all sorts of challenges that are certain to come up at some point in this business. Choose a niche in the trucking industry. The trucking industry is very broad and to succeed in it, you must select a niche. There are different niches in haulage business and the niche you choose would determine the type of vehicles you would need and your start- up costs.
For example, you can check out these business opportunities for truck owners and then take the questionaire below: Will you be engaged in transporting bulk goods or would you be leasing trucks to businesses in the transport industry? Will you outsource your truck to a trucking company or would you rather put your truck on a hired purchase?
Are you going to haul short or long distance? If you are to go into transportation; will you haul solid or liquid goods?
These are the questions you must answer before setting out to start your own trucking business. If you choose petroleum products haulage for instance, what you would need is a petroleum tanker and you would have to register with an oil company or work as a sub- contractor with an already registered company but if you want to go into building materials haulage like carrying of sand, cement and granite from quarries to construction sites, what you would need is a tipper or a lorry.
Start- up Capital. The next thing you will need to begin your journey in the trucking industry is capital and you are going to need lots of it. Trucking is capital intensive and arguably the bloodiest part of starting a trucking business. Your start- up capital will largely depend on the size of the fleet you are intending to own.
Therefore, you have to write a business plan and have a clear idea of how much you would need to start the business and look into your savings to see if you can afford it. Are you going to buy new trucks or used trucks? There are two ways with which you can get your trucks; you can either purchase them outright or get them on lease. Another option is to look for subcontractors. While the initial investment is quite huge, you can easily get it back if you make the right management decisions.
If you do not have enough funds to start and would like to explore other financing options, you should first consider your credit- worthiness and eligibility for borrowed funding and whether you have collateral security for the funds you wish to borrow. You should also look into interest rates on the loan and compare it with your projected earnings from the business to be sure that the business would still be profitable even after paying such interests. There are some financiers that are ready to finance this project if you can convince them. The major financing option that is available is leasing.
Generally, equipment leasing is regarded as a usage agreement between an equipment owner . How a lease is viewed and utilized varies considerably, although there are two major forms: Finance lease. Operating lease. Finance lease, which is the most common type of lease in Nigeria and the rest of the world substantially, transfers all risks and benefits of ownership to the lessee while the lessor still retains title to the equipment, which may eventually be transferred. In Operating lease, a substantial part of the risks and rewards incident to ownership are not transferred to the lessee. The term operating lease encompasses the short- term hire of equipment such as Trailers, motorcars, barges or boats.
Leasing provides the lessees the opportunity of payment over a longer period than with most other forms of financing. This allows the lessee the opportunity of reducing financial commitments particularly in times of stress. You would be required to obtain various licenses and permits and you would also be presented with a set of rules and regulations that must be adhered to. You should do an extensive research on what these rules are and ensure that you comply with them. Insurance- : Haulage business is filled with lots of risks. You would be carrying expensive merchandize which do not belong to you and would have to be conveyed to its destination safely.
Considering the fact that you would be traveling over long distances to deliver these goods; it is impossible to predict the things that may or may not happen along the way. Sometimes accidents may occur, cases of thefts may arise, dishonest drivers may even divert the goods elsewhere and this would lead to a huge debt on the part of the haulage company. This is why obtaining insurance for your haulage business is very important and you must consider the costs of obtaining insurance policies, and the premiums you would be required to pay and compare it with your projected earnings to determine viability of the business. Your management strategy. The. A good management team is very essential to running a successful trucking company. If you are inexperienced, you may need to employ a manager who is experienced to oversee the day to day affairs of the business and run the business profitably. Your management team must be experienced in the transport industry; especially with truck management.
Another important aspect of running a trucking business is your accounting process. You can buy an accounting software your business to make things easier. As an alternative, you could place your vehicles under fleet management companies who would manage the vehicles for you and pay you an agreed sum monthly. Employees- : This is very important as well.
First, you have to think about the drivers because they are the life wires of haulage businesses. Your driver can make or mar your business therefore, it is important to first consider how and where to get professional drivers who would be interested in working with you to promote the business.
Next, you must think of the marketing and administrative staff too. If you are planning to start a small- sized haulage business, you may be able to handle the administrative and marketing functions yourself but for larger sized companies, you may have to employ staff to support with administrative and clerical duties as well as marketing and promotion of the business. Your services to client.
Lastly, you must get a grip on who your clients would be, what their needs are and how you would reach them. First you need to choose a niche, then write down a list of companies or prospective clients in that niche and devise strategies which you would use to reach them. But before this, you need to get a trucking service marketing plan. What types of goods are you planning to transport? Will you haul solid, liquid or gaseous substance?
Are you going to haul durable goods or perishable goods? Each type of freight has their set of requirements, so it would be best that you decide on this before you even open shop. The types of cargo you will be able to carry will determine the type of clients you will work with. And speaking of clients, you will need to present yourself well to get the hauling contracts you need. Then, you should also think of ways to beat your competitors and brand your business so that it can stand out from others in the industry.
No matter how big or small your business is; your outlook matters, so don. Present your services, the cost of providing the services, and other added advantages or benefits that you think can make them sign up with you. Once you get the contract, give them quality service so that they will be enticed to keep coming back.
Work out your Contractual agreement.