When planning to start a commercial trucking company as an owner-operator, you want to follow the right steps to set up your truck company seamlessly. It takes a few steps to get fully started if you already have experience in commercial trucking and hauling. The requirements vary per state, so it is imperative to focus on your state laws when setting up an owner-operator trucking company.
How to Set Up a Commercial Trucking Company
Setting up a commercial trucking company doesn’t have to take a lot of time if you follow the right steps. Here is a step-by-step guide to setting up an owner-operator trucking business.
Step 1: Get Driving Experience
Operating a trucking business requires adequate knowledge. First, you should obtain a commercial driver’s license (CDL) before you get started. You are expected to attend a private trucking driving school to get the CDL. This is essential if you plan to serve the company as a driver for some years.
Step 2: Write a Business Plan
Starting a commercial trucking company requires a business plan. The plan guides you through multiple elements and processes to successfully set up your business. This is your roadmap for success, and you want to ensure it contains all the vital details. A business plan can contain multiple elements, such as your goals, business expenses, and an implementation plan, among other things.
Step 3: Register Your Business
If you already have a business name, it is time to register your owner-operator trucking company. You want to ensure that you are operating a legal company as per your state laws to stay on the safe side of the law. Check the registration requirements within your state and proceed with the registration. Follow the required steps to make the process smooth.
Step 4: Obtain Licenses and Permits
A commercial trucking company requires permits and licenses to show that the business meets the state requirements. You will likely pay some money to get permits and licenses. For instance, if you live in Texas, you will be expected to pay the application fee of $350 and an additional $75 for each truck within your company. Check out and be sure about the charges to make informed decisions.
Step 5: Obtain Insurance for Your Business
Safety should be your priority when setting up an owner-operator trucking business. For these reasons, taking insurance coverage for your business is essential. The most effective, reliable, and convenient way to obtain the license is by working with an experienced and well-versed insurance agent. The agent can help explore options of different insurance coverage such as:
- Bobtail insurance
- Owner operator insurance
- Commercial truck insurance
- Semi-truck insurance
- Truckers Insurance
- Rig Insurance
An experienced insurance agent such as J.E.B. Insurance Services, L.L.C. has in-depth knowledge and understanding of the suitable insurance for your business. The agent ensures you are taking the right steps to secure the future of your business in case of any eventualities.
Step 6: Set Up and Market Your Business
Once you are ready to set up your owner-operator trucking company, you should invest in marketing to find customers for your business. This is one of the most challenging things when setting up a trucking company, but you can overcome it if you implement solid strategies.
If you do not have the time to market your business, you can hire an experienced marketer to handle the task for you. The progress is usually gradual, depending on your marketing strategies. If done right, you can begin to see positive results after a short while.
Ready to Start an Owner Operator Trucking Company?
With the above steps, you should have a seamless process when setting up a commercial trucking company. Because acquiring commercial truck insurance can be complicated and time-consuming, you may want to speak to an expert to guide you through and help you obtain the right insurance for your business. J.E.B. Insurance Services, L.L.C. can help answer all your questions about owner-operator insurance.
We operate in different states, including Florida, Georgia, Texas, South Carolina, North Carolina, Iowa, Illinois, Nebraska, and Tennessee. We are ready to serve you. Contact us for a free consultation and quote.