The trucking industry is a huge industry that is responsible for getting almost every thing that a human being uses on a daily basis. From baby diapers to our food, everything gets there by truck.
It is a booming industry however it is also a highly competitive industry. If you are not careful you could get eaten alive.
Here are a few things to consider first before starting a trucking business:
1. Experience
2. Desire Level
3. Income Goal
4. Expenses
5. Mind Set
Experience:
Before you get started you should have some hands on experience in the trucking industry preferably a driver’s position. The truck driver has got to be the main guy who is out there on the road dealing with almost every aspect of a trucking business like picking up & delivering loads, meeting customers, dealing with weigh stations, aware of dangerous goods & even deals with the highly congested traffic. If you do not yet have any experience in this industry then you should definitely get some. A year or two on the job should be enough to get an idea of what you are getting into.
Desire Level:
This is a very highly competitive industry & there are always new companies coming & going. There will be some level of risk involved as in any business venture so it is imperative that you have a very high desire to get involved. You will need a lot of start up capital to get up & running.
Income Goal:
How much money are you expecting to make? Find out exactly what kind of money will do it for you & then write this amount down. If you have don’t have any previous experience as a business owner in the trucking industry then go out & talk to some owners & operators; Get as many details as you can in regards to income after expenses & how much time it takes to make x amount of dollars.
Expenses:
There are many expenses that you will have to cover like:
o Fleet costs & maintenance
o Running rights & licenses
o Constant rise in diesel prices
Mindset:
If you are not already an entrepreneur then you must start thinking like one right now. As a business owner you will be getting paid for your efforts & not your time. As a business owner you are doing something out of the ordinary so you will have to take the road less travelled. On that road you will be greeted with many road blocks & set backs. That’s just the way it is in any business. If your desire level is high enough then you will get through everything okay & become successful. If your desire level is not that strong enough then you should maybe rethink your position.
