Andra Rush was only 23 when she decided to start her own trucking business. More than two decades later she is the owner of a $400 million company and proof of how entrepreneurs can succeed, with a bit of determination and a great idea.
Trucking is an exceptionally competitive industry, but it can also be very profitable. Here are some tips to help you become a successful trucker:
Equipment: No trucking business can get off its feet without the right equipment. Purchasing trucks is one of the most expensive parts of this business and there are a lot of decisions to be made. You can choose to purchase a truck or lease it. You can also decide between new and used trucks. Make sure to do your research before making any purchases and, in the end, always focus on what is right for your company.
Customers: Customers and trucks are the two things a trucking business can't do without. New business owners usually get their first customers from a load board, which is an online system where shippers post jobs and truckers bid on the work. Load boards are, however, incredibly competitive and to even snag a customer you often have to bid the lowest possible price, which leaves little any room for profit. For these reasons, load boards should only be an option when you start out. As you conduct work during your first few months, actively pursue other customers and try to build long-lasting relationships.
Administration: If you're a one-person trucking company, administration will fall under your duties. Look into the benefits of incorporating as soon as your company begins to develop and consider working with a registered agent service, which can receive important documents for you while you are on the road.