Working as a driver is not satisfying any more? Do you want to open your own business and run a company where you want to create more opportunities for yourself and your employees? Operating as an owner operator is the beginning step in this journey. In addition knowing the ups and downs of the business can be very helpful here too.
Our team has gathered the key components that are necessary in starting a trucking business.
How To Start a Trucking Business?
First of all, you have to decide the type of trucking company that you want to operate. The variations are some and if you decide one direction at the beginning you can later expand to more.
You can own your own trucks and hire the drivers for your company. Also, you can lease the trucks and hire drivers. Moreover, you can hire the people with their own trucks to work under your authority (USDOT/MC). All of those types of business should be properly maintained in your contract.
Secondly, you have to register your company in a subsequent state. Here, it is important to understand the nature of your business and correctly choose the type of business. If you need help, our consultants can help and explain to you the most beneficial points.
The next step is to get the Motor Carrier Authority. It is obtained through FMCSA’s Unified Registration System. There you can choose the type of loads you want to haul, whether you want to operate interstate or intrastate or both. It is important that you fill this step consciously as any mistakes can lead you to repeatedly register and pay for the mistakes again.
Meeting the Requirements
International Registration Plan:
Depending on the use of highways, each vehicle depending on the weight category must register with appropriate entities. The International Registration Plan is one of them and it aims to maximize the use of interstate hauling.
International Fuel Tax Agreement:
Aims the usage of a single tax payment system for fuel purchase among different states. You should purchase IFTA decals from the state you operate and use it nationwide.
Depending on the type of hauler, you have to insure your vehicles. It is also needed to activate your USDOT/MC. You choose your insurance depending on your business needs.
Opening a company and starting your business can be a tedious process. Contact us and we will help you with every step of it.