Are you thinking about starting a Trucking business? Trucking is a highly regulated industry, so it’s important to start with everything you can before you can even begin operations. If you are serious about being a trucking business owner, then you should already be aware that there are many government requirements you need to fulfill and maintain before your business can even begin.
This checklist walks you through the various steps required to become an approved, legal trucking company and run legally as an interstate trucking company. Read this carefully and familiarize yourself with all of the things that are required of you in order to be prepared and organized. This will save you a lot of money and time in the future. One of the first things you’ll need to do is obtain a Dealer’s License. You can’t start any operation of a trucking company without one. This license, once issued, will also allow you to drive trucks on the open road in most states.
Another thing that you need to do is take a training course to become a licensed truck driver and owner-operator. This training program must be accredited by the Department of Transportation. This course will consist of both classroom sessions and driving practice sessions. Either way, you’ll need to pass a driver’s examination administered by the DOT in order to become a qualified truck driver and owner-operator.
The second step in the process of starting a trucking company is to write up a business plan that will help to explain how your company plans to earn a profit. Trucking companies have a very distinct type of business. They provide a particular type of transportation. Your business plan will include how you plan to make money from the sale of these trucks. You need to develop a trucking company strategy in order to be successful.
You’ll need to obtain liability insurance coverage. Liability coverage will protect the owner-operator and the truck drivers that are employed by the trucking company. In case of an accident involving one of the truck drivers or one of the company’s vehicles, the liability insurance coverage will pay for the other party’s damages. Without this coverage, the trucking company and the individual truck drivers would be responsible for all damages. Therefore, it’s absolutely essential that you get this insurance coverage before you start operating a new trucking company.
The third and final step is to get your business license and registered with the United States Department of Motor Carrier Operating Authority (DMCA). To obtain your license and registration, you can contact the MC Number of your trucking company or visit their web site. There, you’ll find a link to apply for a business permit. Once you complete the application, the agent from the Motor Carrier Operators’ Bureau will contact you and set up a meeting. You’ll need to discuss a few things about the trucking company’s operation, such as the type of vehicle you’re operating, the dollar amount you’ll be spending monthly, the number of trucks you’ll be adding to your fleet, and other important information about the company.