By: Martin William
The trucking business is considered one of the most profitable business options. As the economy is growing rapidly, the need to move freight from one place to another will never stop. In other words, there is always a high demand for carrier trucks in the market. Starting a trucking company is not that difficult as well, all you need to do is to fulfill some legal formalities like getting registered to DOT Authority, getting an MC number, and such.
If you are not sure whether you should start a trucking company or not, here are a few reasons why this business venture can be suitable for you.
1. Generates Handsome Money
The trucking business is one of the most profitable businesses. If you have a good trailer that can take heavyweight easily and move long distances, you can earn as much as $4000 per side. This estimate is for one truck only. As your business grows, you will eventually add more trucks, thus adding more sources of income.
If you have flatbed trailers with refrigeration options, you can easily earn $50,000-$75,000 a year. This is the easiest money you can make in any kind of business.
2. Low Investment Required
Unlike other businesses, a trucking company startup is much more affordable. You do not need large sums of money to start a trucking company. All you need is the fee required to file paperwork and fulfill the legalities of the trucking company. Every trucking company is bound to follow the Federal Motor Carrier Safety Authority (FMCSA) rules. Filing for these rules and getting registered with the authorities require money.
This could be the only money that you may need to start a trucking company. Therefore, if you do not have much money, do not worry about being unable to start a business. You can easily start a trucking company.
3. No Need For An Office Building
You can run a trucking company from your home as well. You do not need to have an office building or an entire space designated to run the back offices. As technology is improving every day, you can operate your company on your laptop or mobile phone as well.
This can save you a lot of office rent as well, thus reducing expenses and maximizing profits. You can get an application developed for your business and make use of it to run different operations. This can also save you the cost of hiring extra staff.
4. You Do Not Need To Own A Truck
The best part about starting a trucking company is that you do not necessarily need to own a truck. This reduces the cost of starting the business because trucks can be very expensive if you have resources, you can buy trucks of your own.
However, if you do not have enough money, you can just start a trucking company. You can use another person's trucks and trailers. This is called owner-operator. You can operate a trucking company without needing to buy a truck. This process works by leasing the truck to the driver. You can easily earn as much as $500 a week with this business model.
5. Highly Regulated Business
The trucking business is highly regulated. This means that several authorities, both federal and local, are keeping an eye on every company operating in the US. This ensures the safety of the road users and truckers as well.
Regulation of the business can also provide safety to the trucking company as well. For example, if you have an arbitration program, it will protect you in case someone sues your company.
