Four Essential Tips for Starting a Trucking Company in Missoula

With the demand for truck transportation growing every day, starting a trucking business can be lucrative. According to salary estimates on Indeed, the average salary of a truck driver in Missoula is $66,760 per year, with owner-operator drivers earning between $0.94 and $1.22 per mile.

However, starting a successful trucking company isn’t as easy as it may seem. You’ll need to familiarize yourself with how the industry works and secure funds. You also need to hire qualified truck drivers and gain the necessary skills for improving your trucking business efficiently to stay ahead of competitors. Read on to learn the essential tips for starting a trucking company in Missoula.

Decide if You’re Owner-Operator or Hirer

Before you can establish your trucking business, decide if your venture will be owner-operator or hirer. There are many benefits of running an owner-operated trucking business, especially if you have been an independent driver for several years. Typically, experienced truck drivers possess the required skills to start a trucking venture from scratch within a short duration.

Nonetheless, you can still run a successful trucking venture from an office. All you need to do is learn everything about fleet management, hire experienced truck drivers, know your legal obligations, and secure capital. 

Create a Business Plan

Once you’ve determined the type of trucking business you want to establish, create a business plan. That way, you’ll know where your business is heading and what you can do to arrive there. So, when writing a business plan, highlight your goals, KPIs, the equipment you need, how many employees you should hire, and the skills required to ensure you reach your profit goals.

When you have a comprehensive business plan in place, you can use it to secure funds to get your trucking venture off the ground. 

Invest in the Right Fleet

Without trucks, your business can’t be successful in the competitive market. That’s why investing in the right fleet should be a top priority. But with so many truck options in the market, picking the most suitable vehicles can be tricky. Because of this, you need to research your options carefully.

As a business owner, you want to make sure the trucks you’re buying suit your daily operations, based on routes you’ll take and the type of cargo. To get a clear insight about pick-trucks, take time to review customer ratings on various pickup truck models. Doing so helps you identify and choose truck models that guarantee safety, fuel efficiency, comfort, and the capacity it can haul.

Obtain the Right Permits and Licenses

The trucking industry in Missoula and across the country is highly regulated, meaning you’ll need to acquire several permits like Overweight Permits and licenses before setting up your business. Some of the essential documents required to start a trucking company include motor carrier number, CDL driver’s license, USDOT number, and commercial truck insurance. Given permit requirements vary from state to state, consult your local authorities to determine the exact legal documents you need.

Setting up a trucking company is a sure way of earning high profits, but the process can be challenging. To become successful, you’ll need to gain knowledge about the industry. You’ll also need to choose between running your business as an owner-operator truck driver or hirer. Most importantly, you need to obtain licenses and invest in suitable fleet vehicles.