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How to Start a Trucking Company: Owner Operator Startup Business Plan
Jun 17, 2021

If you’re thinking about starting a trucking business, and you’ve already gotten answers to some of your basic questions (link to Owning a Trucking Company: Answers to 5 Important Questions), it’s time to turn your attention to the more in-depth parts of starting a company. How to start a trucking company includes a step that’s part of any business formation: a startup business plan.


The U.S. Small Business Administration (SBA) advises that “a good business plan guides you through each stage of starting and managing your business,” and emphasizes that you can think of your business plan as “a roadmap for how to structure, run, and grow your new business.”


Per the SBA, a business plan can take the form of a traditional business plan or a lean business plan. A traditional business plan is detailed and comprehensive, and it’s often the format that lenders or investors will request to review. A lean startup plan is a high-level overview that just touches on the key elements. Here is the general structure of a business plan that you can use when starting a trucking business.

Owner/Operator Startup Business Plan: The Structure

Executive summary: Here you will describe the “what” and the “why” of your company when starting a trucking business. What does your company do? Why will it, specifically, be successful? This is a summary of your new venture, including your mission statement, product/service description, and some basic information about your company’s leadership team, employees, and location. Include financial information and a snapshot of your growth plans, too.


Company description: Next, you’ll go into more detail about the specific need your company will fill. Describe the problem you solve for your customers, including any consumers, organizations, or businesses your company can serve. This is also where you document your unique advantages in the industry.


Market analysis: Before starting a trucking business, prove that you understand the landscape you are stepping into by outlining the competitors you will face in the industry. What are their advantages and disadvantages? What is the upcoming outlook of the industry? Who is your target market? This is the place of trends analysis, and a good business plan makes it clear that you’ve done your homework before deciding to open a company. For the trucking industry, you might look at the major players in your specific segment of the industry and the size of that segment. Make your company shine by narrowing your focus to a specific target market.


Organization and management: After that, you’ll go further into your company by describing the legal structure of your business (sole proprietorship, partnership, limited liability company, or corporation) and the organizational makeup of your company.


Service or product line: What service do you sell? Describe the benefits you’ll offer to your company. For the trucking industry, this is a pretty straightforward part of the business plan.


Marketing and sales: In order to succeed as a business, you have to have a plan to attract new customers. While marketing and sales might not be your forte, it is an important part of any business, and starting a trucking business is no different. Describe your plan to attract and retain customers. What industries will you target? What locations will you focus on? Will you hire sales professionals or use independent agents?


Funding request: If you’re going to request funding, use this section to make those details clear. Describe how much and what, specifically, the money will be used for.


Financial projections: In order to convince your lender to provide your funds, you’ll use this section to offer a picture of the financial outlook of your company over the next five years. The SBA recommends you include “forecasted income statements, balance sheets, cash flow statements, and capital expenditure budgets.”


If you’re thinking about starting a trucking business, Gold Star can help. Our consultative services and mentorship programs provide the support new owner/operators need when embarking on this exciting journey. Check out what we have to offer, and then we’ll connect you with an expert!

Your Guide to the Amazon Delivery Service Partner Program

17 Jun, 2021
It’s impossible to think of the trucking industry without considering Amazon. In 2019, the company delivered 4.5 billion packages in the United States . Their Amazon Delivery Service Partner Program enables anyone with some startup capital the opportunity to get involved in their massively successful business venture. There are pros and cons to becoming an Amazon DSP, but the steady stream of work is certainly eye-catching to start-up trucking companies. Amazon lays out some of the most important information , but let’s take a look at some frequently asked questions.

Your Guide to DOT Background Check Requirements for Drivers

17 Jun, 2021
A thorough, compliant background screening program for your drivers should be the backbone of your hiring strategy. Background checks ensure that your new drivers have all of the qualifications necessary to do the job well and to best represent your company out on the road. Background checks also, of course, weed out any drivers with disqualifying criminal histories, a history of driving violations, and substance abuse problems. That’s why they should be a standard part of your fleet safety program anyway (link to “Fleet Safety Program: 4 Important Things to Remember”). In our regulated industry, a DOT background check is required. Here’s how DOT background check requirements differ from standard employment screening.

Will Truck Driving Be Automated?

17 Jun, 2021
It’s the question on the minds of truck drivers, owners, and delivery companies everywhere: will truck driving be automated? Automated trucks have been a conversation point for years now, with many worrying that technology advances will put millions of people out of work. Despite these concerns, the U.S. Bureau of Labor Statistics predicts 5% growth for trucking employment in the coming years. While other industries struggle to adapt to new technology, the trucking industry is greatly benefiting from it. There are a range of opinions when it comes to this question, though most truck drivers seem confident that their jobs can’t (or at least won’t) be done by machines any time soon. Before getting into the trucking industry, it’s important that you take a look at the landscape and make an educated decision about it—but remember there will always be a need to move goods from one place to another, and the explosion in online ordering suggests that need is only going to expand. Let’s take a look at the current state of automated trucks as we dive into the question: will truck driving be automated?

What Is Carbon Neutral Shipping & How Do Companies Become Carbon Neutral?

17 Jun, 2021
Trucking and logistics is no longer just about getting materials from point A to point B. Much like consumers want to buy their products from socially responsible corporations or boycott businesses that don’t align with their beliefs, many companies want to work with trucking companies that prove they care about the environment. Whether due to their personal beliefs, to the corporate responsibility goals they’re mandated to meet, or to a desire to please their own customer base, you’re serving clients who will ask about your carbon neutral shipping practices sooner rather than later. Now is the time to start taking this topic seriously. Do you find yourself asking “what is carbon neutral shipping anyway?” Are you wondering why carbon neutral shipping might be a benefit? Curious to know how companies become carbon neutral? Keep reading to discover the answers to all of your questions about this climate-responsible approach to business.

What Do I Need to Start a Trucking Company?

17 Jun, 2021
The trucking industry landscape is largely made up of small businesses—with over 90% of companies operating fewer than seven trucks—so there is room for you if you’re considering starting a small trucking business. Whether you’re a professional truck driver already or you’re just a prospective business owner looking to cash in on the projected growth in the industry, you can get on the road toward a successful business with our help. What do you need to start your own trucking business? Just a little bit of insight from Gold Star’s experts.

The Facts & Figures: How Much Does it Cost to Start a Trucking Company?

17 Jun, 2021
Are you ready to work for yourself? Find yourself wondering how much does it cost to start a trucking company? Some estimates anticipate between $10,000 and $20,000 to get started with a small trucking company, assuming you don’t have to factor in the average cost of a semi truck. What goes into the cost of starting a logistics company? Let’s take a look.
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