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Trucking Business Plan Template
Written by Dave Lavinsky
Trucking Company Business Plan
You’ve come to the right place to create your trucking business plan.
We have helped over 100,000 entrepreneurs and business owners create business plans and many have used them to start or grow their trucking companies.
Trucking Business Plan Example
Below is a sample trucking business plan template to help you write a trucking business plan for your own company.
Executive Summary
Business overview.
On The Road Trucking (OTRT) is a new trucking company located in Dallas, Texas. The company was founded by Michael Williams, a trucking and logistics professional who has over 20 years of management experience in trucking and logistics. Michael is confident in his ability to effectively negotiate contracts, oversee drivers and employees, and minimize costs as he ventures out to start his own trucking company. Michael plans on recruiting a team of highly qualified drivers, sales representatives, client relationship managers, and dispatchers to carry out the day-to-day operations of the company.
On The Road Trucking will provide a comprehensive array of trucking and logistics services for any business or individual in need of freight distribution. OTRT will use the latest technology to ensure that every shipment is distributed efficiently and handled with the best of care. On The Road Trucking will be the ultimate choice in the Dallas, Texas area for customized trucking services.
Product Offering
The following are the services that On The Road Trucking will provide:
- Dedicated fleet services
- Flatbed transportation services
- Local distribution services
- Logistics services
- Warehousing services
Customer Focus
On The Road Trucking will target all businesses and individuals in need of freight services. OTRT will begin by targeting small business owners in need of distribution services and individuals in need of shipping services who may not be able to get service from a larger trucking company because their shipment size is too small. No matter the client, On The Road Trucking will deliver a customer-centric experience where they will customize each shipment to match the customer’s specific requirements.
Management Team
On The Road Trucking will be owned and operated by Michael Williams. He has recruited another experienced trucking professional and former CPA, Steve Brown to be the CFO of the new company and manage the financial oversight of the accounting department.
Michael Williams is a graduate of the University of Texas with a Bachelor’s degree in Business Management. He has been working at a local trucking company for over two decades as a Transportation Manager, and is well-versed in all aspects of the trucking industry. Micheal’s organizational skills and customer-first approach have garnered his reputation for being a cost-effective logistics manager with high standards for customer service.
Steve Brown has been the accounting manager for a local trucking company for over ten years. Prior to his experience in trucking, Steve worked as a CPA in a local tax firm. Michael relies strongly on Steve’s attention to detail, diligence, and focus on cost-saving solutions.
Success Factors
On The Road Trucking will be able to achieve success by offering the following competitive advantages:
- Proactive, helpful, and highly qualified team of sales representatives and dispatchers that are able to effectively navigate the journey of both customers and drivers.
- Customized service that allows for a small business or an individual to have their requirements accommodated. On The Road Trucking takes care of everything from truck inspections and maintenance to scheduling drivers, loading/unloading, and short-and-long range distribution.
- On The Road Trucking offers the best pricing for customized and small shipments compared to the competition.
Financial Highlights
On The Road Trucking is seeking $300,000 in debt financing to launch its trucking business. The funding will be dedicated towards securing the warehouse and purchasing the trucks. Funding will also be dedicated towards three months of overhead costs to include payroll of the staff, rent, and marketing costs for the print ads and association memberships. The breakout of the funding is below:
- Warehouse build-out: $50,000
- Trucks, equipment, and supplies: $20,000
- Three months of overhead expenses (payroll, rent, utilities): $180,000
- Marketing costs: $30,000
- Working capital: $20,000
The following graph below outlines the pro forma financial projections for On The Road Trucking.
![free trucking business plan successful trucking company financial highlights](https://planbuildr.com/wp-content/uploads/2022/05/trucking-740x494.png)
Company Overview
Who is on the road trucking .
On The Road Trucking is a newly established trucking company in Dallas, Texas. On The Road Trucking will be the most reliable, secure, and efficient choice for small business owners and individuals in Dallas and the surrounding communities. OTRT will provide a personalized approach to trucking services for anyone in need of freight transportation. Their full-service approach includes comprehensive truck driver oversight, short-distance distribution, small shipments, and customized service.
On The Road Trucking’s team of professionals are highly qualified and experienced in trucking and logistics operations. OTRT removes all headaches that come with dealing with trucking companies and ensures all issues are taken care off expeditiously while delivering the best customer service.
On The Road Trucking History
OTRT is owned and operated by Michael Williams, a long-time trucking and logistics professional who has a Business Management degree. He worked at a local trucking company for over two decades where he served as Lead Transportation Manager for the last five years, and is well-versed in all aspects of the trucking and transportation industry. Micheal used his industry expertise to reach out to potential customers who may need small-size distribution services that are not offered by larger trucking businesses and letting them know about the services OTRT will offer.
Since incorporation, On The Road Trucking has achieved the following milestones:
- Registered On The Road Trucking, LLC to transact business in the state of Texas.
- Identified the target location for the warehouse.
- Contacted numerous small businesses to let them know about the services that will be offered.
- Began recruiting drivers, sales representatives, and dispatchers.
On The Road Trucking Services
The following will be the services On The Road Trucking will provide:
Industry Analysis
As the primary source of land freight distribution in the United States, the trucking industry is a $730B industry.
There are approximately 900,000 available truck drivers across the country. The demand for drivers is much higher than the supply, which means there is a lot of opportunity for new companies to recruit people to become truck drivers by offering them better incentives than currently being offered by larger trucking companies. Additionally, a new trend in trucking is the increasing popularity of shorter or local hauls compared to long-distance. This poses an opportunity for companies to cater to the customers demanding short-distance hauls.
Some challenges for trucking industry operators include rising fuel costs and an increased use of online booking and monitoring technology, which can leave traditional companies behind if they are using outdated systems. New entrants can benefit from using the latest technology from the outset, providing drivers with incentives to work with them, and implementing cost-effective solutions to reduce their fuel costs.
Customer Analysis
Demographic profile of target market.
On The Road Trucking will target anyone in need of trucking services in Dallas, Texas and surrounding areas. Primarily, the company will target small businesses and individuals that may need local distribution or have small size hauls. Below is a snapshot of this market.
Customer Segmentation
OTRT will primarily target the following customer profiles:
- Small business owners
- Small manufacturing companies
- Individuals in need of freight transportation services
Competitive Analysis
Direct and indirect competitors.
On The Road Trucking will face competition from other companies with similar business profiles. A company description of each competitor is below.
Texas Truck Services
Texas Truck Services provides trucking services, logistics services, freight distribution, and warehousing services. Located in Dallas, Texas Truck Services offers local service to the Dallas area. Texas Truck Services’s team of experienced professionals assures the hauls are run smoothly, freeing the customer from worry over whether their shipments will arrive on time and in good condition.
US Trucking & Logistics
US Trucking & Logistics is a Dallas-based trucking and logistics company that provides freight distribution services for small businesses across Texas. The management team is composed of former truck drivers and business management professionals who are familiar with the trucking industry in Texas. US Trucking & Logistics uses electric vehicles to reduce its fuel costs, which allows the company to pass these savings on to its customers.
Best Trucking
Best Trucking is a trusted Dallas-based trucking company that provides superior trucking and logistics service to customers in Dallas and the surrounding areas. Best Trucking provides shipping, receiving, packaging, and disposal services. The Best Trucking team of logistics experts ensures that each shipment is delivered with the highest security standards and that the entire freight process is smooth and seamless for its customers.
Competitive Advantage
On The Road Trucking will be able to offer the following advantages over their competition:
- Friendly, knowledgeable, and highly qualified team of trucking and logistics experts with extensive experience in the field.
- Use of the latest trucking and logistics technology to ensure each haul is handled with the best of care and delivered efficiently.
- On The Road Trucking offers local distribution and takes small hauls that may be denied by larger trucking companies.
Marketing Plan
Brand & value proposition.
On The Road Trucking will offer the following unique value propositions to its clientele:
- Highly-qualified team of skilled employees that is able to provide a comprehensive set of trucking services (shipping, receiving, monitoring, short-distance, small hauls).
- Customized approach to freight distribution, leveraging technology and flexibility to provide the highest quality of service to its customers.
Promotions Strategy
The promotions strategy for On The Road Trucking is as follows:
Word of Mouth/Referrals Michael Williams has built up an extensive list of contacts over the years by providing exceptional service and expertise to his clients. Once Michael advised them he was leaving to open his own trucking business, they committed to follow him to his new company and help spread the word of On The Road Trucking.
Professional Associations and Networking On The Road Trucking will become a member of Texas Trucking Association (TTA), and American Trucking Association (ATA). They will focus their networking efforts on expanding their client network.
Print Advertising On The Road Trucking will invest in professionally designed print ads to include in industry publications.
Website/SEO Marketing On The Road Trucking will utilize their in-house marketing director that designed their print ads to also design their website. The website will be well organized, informative, and list all their services. The website will also list their contact information and provide information for people looking to become drivers. The marketing director will also manage the company’s website presence with SEO marketing tactics so that anytime someone types in the Google or Bing search engine “Dallas trucking company” or “trucking near me”, On The Road Trucking will be listed at the top of the search results.
The pricing of On The Road Trucking will be moderate and on par with competitors so customers feel they receive value when purchasing their services.
Operations Plan
The following will be the operations plan for On The Road Trucking.
Operation Functions:
- Michael Williams will be the Co-Owner and President of the company. He will oversee all staff and manage client relations. Michael has spent the past year recruiting the following staff:
- Steve Brown – Co-Owner and CFO who will be responsible for overseeing the accounts payable, accounts receivable, and managing the accounting department.
- Beth Davis – Staff Accountant will provide all client accounting, tax payments, and monthly financial reporting. She will report directly to Steve Brown.
- Tim Garcia – Marketing Manager who will provide all marketing, advertising, and PR for OTRT.
- John Anderson – Safety Manager who will provide oversight on all maintenance and safety inspections of the vehicles and drivers.
Milestones:
On The Road Trucking will have the following milestones complete in the next six months.
7/1/2022 – Finalize lease on warehouse
7/15/2022 – Finalize personnel and staff employment contracts for the management team
8/1/2022 – Finalize contracts for sales representatives, dispatchers, and initial drivers
9/15/2022 – Begin networking at industry events
10/22/2022 – Begin moving into On The Road Trucking warehouse and securing trucks
11/1/2022 – On The Road Trucking opens for business
Michael Williams is a graduate of the University of Texas with a Bachelor’s degree in Business Management. He has been working at a local trucking company for over two decades, most recently as a Transportation Manager, and is well-versed in all aspects of the trucking industry. Micheal’s organizational skills and customer-first approach have garnered his reputation for being a cost-effective logistics manager with high standards for customer service.
Financial Plan
Key revenue & costs.
The revenue drivers for On The Road Trucking are the trucking fees they will charge to the customers for their services. Most trucking companies charge a per-mile rate. Average per-mile rates vary, but are typically between $2.30-3.30.
The cost drivers will be the overhead costs required in order to staff a trucking operation. The expenses will be the payroll cost, rent, utilities, fuel and maintenance for the trucks, and marketing materials.
Funding Requirements and Use of Funds
Key assumptions.
The following outlines the key assumptions required in order to achieve the revenue and cost numbers in the financials and in order to pay off the startup business loan.
- Number of Trucks in Fleet: 10
- Average Fees per Truck per Month: $20,000
- Warehouse Lease per Year: $100,000
Financial Projections
Income statement, balance sheet, cash flow statement, trucking business plan faqs, what is a trucking business plan.
A trucking business plan is a plan to start and/or grow your trucking business. Among other things, it outlines your business concept, identifies your target customers, presents your marketing plan and details your financial projections.
You can easily complete your trucking business plan using our Trucking Business Plan Template here .
What are the Main Types of Trucking Companies?
There are a number of different kinds of trucking companies, some examples include: For- Hire Truckload Carriers, Less Than Truckload Carriers, Hotshot Truckers, Household Movers and Inter-Modal trucking.
How Do You Get Funding for Your Trucking Business Plan?
Trucking companies are often funded through small business loans. Personal savings, credit card financing and angel investors are also popular forms of funding. This is true for a business plan for a trucking company and a transportation business plan.
What are the Steps To Start a Trucking Business?
Starting a trucking business can be an exciting endeavor. Having a clear roadmap of the steps to start a business will help you stay focused on your goals and get started faster.
1. Develop A Trucking Business Plan - The first step in starting a business is to create a detailed trucking business plan that outlines all aspects of the venture. Starting a trucking company business plan should include potential market size and target customers, the services or products you will offer, pricing strategies and a detailed financial forecast.
2. Choose Your Legal Structure - It's important to select an appropriate legal entity for your trucking business. This could be a limited liability company (LLC), corporation, partnership, or sole proprietorship. Each type has its own benefits and drawbacks so it’s important to do research and choose wisely so that your trucking business is in compliance with local laws.
3. Register Your Trucking Business - Once you have chosen a legal structure, the next step is to register your trucking business with the government or state where you’re operating from. This includes obtaining licenses and permits as required by federal, state, and local laws.
4. Identify Financing Options - It’s likely that you’ll need some capital to start your trucking business, so take some time to identify what financing options are available such as bank loans, investor funding, grants, or crowdfunding platforms.
5. Choose a Location - Whether you plan on operating out of a physical location or not, you should always have an idea of where you’ll be based should it become necessary in the future as well as what kind of space would be suitable for your operations.
6. Hire Employees - There are several ways to find qualified employees including job boards like LinkedIn or Indeed as well as hiring agencies if needed – depending on what type of employees you need it might also be more effective to reach out directly through networking events.
7. Acquire Necessary Trucking Equipment & Supplies - In order to start your trucking business, you'll need to purchase all of the necessary equipment and supplies to run a successful operation.
8. Market & Promote Your Business - Once you have all the necessary pieces in place, it’s time to start promoting and marketing your trucking business. This includes creating a website, utilizing social media platforms like Facebook or Twitter, and having an effective Search Engine Optimization (SEO) strategy. You should also consider traditional marketing techniques such as radio or print advertising.
Learn more about how to start a successful trucking business:
- How to Start a Trucking Business
Where Can I Get a Trucking Business Plan PDF?
You can download our free trucking business plan template PDF here . This is a sample trucking business plan template you can use in PDF format.
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Trucking Business Plan
![free trucking business plan](https://static-web.upmetrics.co/wp-content/uploads/2023/07/02180015/First-Graphic-of-page-Cta.webp)
With the boom in online ordering and cross-border transactions, the demand for trucking is on the rise, and there is no stoppage in the near future. Thus, if you are planning to start your business right now, the timings are perfect.
Now your idea is validated, but have you thought about planning your idea thoroughly before actually executing it? Whether you want external investment or not, a trucking business plan will help you in each step of your journey as a guide.
Here the catch is how to write a business plan because it seems like a boring lengthy procedure, right? Worry not, our trucking business plan template with various examples will help you write yours.
Key Takeaways
- The executive summary is one of the most important parts readers will go through first, so keep it simple and engaging.
- Conduct a thorough industry analysis to get a better understanding of your business positioning.
- To ensure daily smooth operations, provide a detailed operations plan that includes who will work on what.
- Create realistic financial projections for your financial plan, you can even base your assumptions by looking at the competitor’s response.
Things to Consider Before Writing a Trucking Business Plan
The trucking business is the wheels of the economy, without it the world might close. As a long-distance trucking business transports a variety of goods that is necessary for living.
This industry generally includes trucking companies that operate between major metropolitan regions and cross-borders. The main services of the industry include:
- Truckload carriers
- Less-than-truckload carriers
- Other transportation services
According to American Trucking Association data , 11.46 billion tons of freight was transported by trucks only, accounting for 72.6% of domestic total tonnage shipped.
Thus, trucking was one of the most important sectors and will continue to be the one in the future too. Even, the revenue of trucking was $940.8 billion , which accounted for 80.7% of the total revenue of the industry of the nation.
As we now know the importance of the industry, let us get started with the trucking business plan outline along with various examples and guidance.
How to Create a Trucking Business Plan: A Detailed Guide
1. executive summary.
The executive summary should be the most engaging part for readers, summarizing the entire business plan.
It is generally the part business owners prefer to write at the last because till then they can get the full knowledge of the trucking company business plan.
Start your summary with a brief introduction of your business, as shown in the below example with the help of Upmetrics:
![free trucking business plan executive summary for trucking business plan](https://static-web.upmetrics.co/wp-content/uploads/2019/06/31150220/executive-summary-for-trucking-business-plan.png)
After the introduction, include information like
- Products Served
- Customer Focus
- Mission Statement
- Vision Statement
- Success Factors
- Financial Summary
- Call to action
Tip: Executive summary is a quick overview for your readers. They might not read the whole business plan and only read this section. Thus, make sure to keep it clear, precise, and crisp enough to grab their attention.
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![free trucking business plan CTA Blue](https://static-web.upmetrics.co/wp-content/uploads/2023/08/25174319/ai-assistant-blog-image-1-282x240.png)
2. Company Overview
Provide a detailed company description in this section. It includes the name of your own trucking business, the location of your office, the legal structure of your business, and other such information.
Also, do not forget to mention the type of your business, for example, your trucking company will be one from below:
- Freight trucking
- Intermodal trucking
- Specialized hauling
- Courier and delivery services
- Bulk commodity trucking
- Dump trucking
After that, mention the history of your company if your business is already in existence. Here is an illustration of the company’s history with the help of Upmetrics:
![free trucking business plan trucking business overview](https://static-web.upmetrics.co/wp-content/uploads/2019/06/31150358/trucking-business-overview.png)
Also, describe the vision & mission statement of your trucking business along with your future goals. Add the names of the owners along with their qualifications and specifications.
In short, this section should provide an in-depth understanding of your business and business owners.
3. Industry Analysis
This analysis gives all the details about the trucking industry. It will support you in a better understanding of your business.
Here are some questions to ask while conducting industry analysis:
- What is the current size of the trucking industry in the USA?
- What are the major trends in the transportation industry?
- Who are the huge players in the industry and what is their market share?
- How is technology affecting the trucking industry?
- How are fuel prices affecting the operating costs of the businesses?
Conduction this industry analysis will educate you about the market and help you prepare marketing strategies according to the market trends.
In short, industry analysis will help you have a better understanding of the market and support you in making informed decisions.
4. Competitive Analysis
Competitive analysis will help you know your unique selling propositions (USPs) along with your market positioning. You will also be able to know your direct and indirect competitors & other trucking companies.
Start by listing out all your competitors along with their strengths, weaknesses, opportunities, and threats.
Focus more on your direct competitors and ask certain questions like:
- Who do they serve?
- What is their market share?
- What are their USPs?
- What is their pricing strategy?
- What do they need to work on according to their customers?
After conducting competitor analysis, understand your strengths, weaknesses, opportunities, and threats like below to better get your strong points.
![free trucking business plan competitive analysis for trucking business plan](https://static-web.upmetrics.co/wp-content/uploads/2019/06/31150707/competitive-analysis-for-trucking-business-plan.png)
This way you can get to know the USP of a trucking company. Once you get the USP, flaunt it in your own business plan.
5. Market Analysis
In the market analysis section, begin with market research and deep dive into the market where your trucking business will operate. Start the section by providing the details of your target market.
Your target market will depend on the trucking services you provide and on the location of your business.
Once you are clear about the target customers, discuss the market trends of the trucking industry. Mention what your customers prefer and what new they want.
For instance, here is the market trends section with the help of Upmetrics:
![free trucking business plan market analysis for trucking business](https://static-web.upmetrics.co/wp-content/uploads/2019/06/31150927/market-analysis-for-trucking-business.png)
At the end of the market analysis, do mention the regulatory environment trucking companies need to follow in the particular location.
6. Product and Services
After knowing the market trends and conducting market analysis, give details about the services you will provide. Your trucking services might be one of these:
- Hazardous material transportation
- Freight transportation services
- Specialized transportation
- Intermodal transportation
- Last-mile transportation
- Reefer services
- Container drayage
Mention your time duration of the services in this section, to let your readers know the efficiency and capacity of your trucks. You can also add the images of trucks in this section along with their capacity.
Keep the language of this section understandable and simple to give knowledge about your services to the readers.
7. Sales and Marketing Plan
There are around 750,000 trucking companies in the USA that own at least 1-2 trucks. Therefore, being noticed in this much competition is necessary, which is why you need a proper sales and marketing plan.
Developing a marketing plan means writing down strategies to acquire potential customers and retain them.
Some of the marketing strategies for trucking companies are:
Having a professional website
Having a professional website will spread your reach to a wider audience. On the website, you can showcase all your services and the images of the trucks directly to potential customers.
Content marketing
Write blog posts, infographics, and articles for the logistics industry in which you can promote your own business. This way you can establish your expertise too in the same niche.
Social media engagement
For a successful trucking company, staying active on social media is a necessity. Share industry trends, news, and other events on social media to engage with your customers.
Email marketing
Build an email list of potential and existing clients and send them newsletters or updates about your services, industry insights, and special promotions.
Once you have noted down how you will acquire customers, then mention the following things:
- Customer acquisition cost
- Your monthly marketing budget
8. Management Team
Letting your readers or investors know who is behind your trucking company will increase the appeal of your business plan.
The management team section tells about the people in charge of the trucking business and their experience of the work. If you have a new trucking company, then showcasing all your experienced managers will make your business look stronger.
Here is an example of a management team:
Management team of Maxwell Truck service
John Maxwell – CEO and Founder
John is the visionary leader who founded Maxwell Truck Service. With over 20 years of experience in the transportation and logistics industry, he sets the company’s strategic direction and oversees overall operations.
Sarah Adams – Chief Operations Officer (COO)
As the COO, Sarah is responsible for the day-to-day operations of the company. She manages dispatch, fleet maintenance, and driver scheduling to ensure efficient and timely delivery of goods.
Michael Turner – Chief Financial Officer (CFO)
Michael is responsible for the financial health of the company. He manages budgets, and financial planning, and oversees financial reporting, ensuring the company’s financial stability and growth.
Karen Simmons – Director of Sales and Marketing
Karen leads the company’s sales and marketing efforts. She develops strategies to attract new clients and maintain strong relationships with existing ones, helping to grow the customer base.
9. Operations Plan
In the whole above plan, we have discussed mentioning your goals, now it is time to write the strategies of daily activities on how to achieve the above-mentioned goals. You can divide these goals into two parts:
Everyday goals
They’re the heart and soul of your trucking business’s daily life, from buying the most appropriate trucks to delivering the goods timely is a tricky thing. These are the everyday heroes that keep your business running smoothly.
Long-term goals
It’s all about milestones: the moments that make you pop the champagne. Picture celebrating your 10,000th timely delivery, hitting that milestone sales figure you’ve dreamt of, or expanding your team.
10. Financial Plan
For a successful trucking business, you will need a proper financial plan with practical financial projections. In the plan, you have to include the income statement, cash flow statement, and balance sheet for 3-5 years.
Income statement
An income statement also known as a profit and loss statement, describes the gross profitability of your business by deducting costs of goods sold from revenue.
For this, you don’t need to be greedy and make practical assumptions so that you can know the actual profitability range of your business. Here is a projected profit and loss statement for 3 years:
![free trucking business plan income statement for trucking business](https://static-web.upmetrics.co/wp-content/uploads/2019/06/31151533/income-statement-for-trucking-business-800x1024.png)
Balance sheet
Balance sheets display your assets and liabilities. Although they can contain a lot of details, like equity, goodwill, other intangible assets, etc. Here is an example of a balance sheet for 3 years with the help of Upmetrics:
![free trucking business plan balance sheet for trucking business](https://static-web.upmetrics.co/wp-content/uploads/2019/06/31151652/balance-sheet-for-trucking-business-772x1024.png)
Cash flow statement
Your cash flow statement helps you see how much money you need to start or grow your business and avoid running out of money. This cash flow should be maintained even for certain months after launch that is before you start making profits.
Surprisingly, you can make a profit but still face financial problems that could lead to bankruptcy. Therefore, you will need proper cash flow planning to avoid such circumstances.
Funding Sources For Trucking Business
Funding a trucking business might be difficult because of the high investments in the truck, various sources to get funding from are:
- Bootstrapping
- Truck financing companies
- Venture capital & angel investors
- Crowdfunding
- Family and friends
Download a Trucking business plan template
Ready to kick-start your business plan writing process? And not sure where to start? Here you go, download our free trucking business plan pdf , and start writing.
This intuitive, modern, and investment-ready template is designed specifically for trucking businesses. It includes step-by-step instructions & examples to help in creating your own trucking business plan.
The Quickest Way to turn a Business Idea into a Business Plan
Fill-in-the-blanks and automatic financials make it easy.
![free trucking business plan crossline](https://static-web.upmetrics.co/wp-content/uploads/2023/10/05124448/crossline.png)
Write Your Business Plan with Upmetrics
Finally! Now you know how to write a business plan for your business with the help of our trucking business plan example. Thus, you are a step closer to beginning or growing your business.
No doubt, writing a business plan with accurate financial projections is daunting, but it is a lot smoother with the help of business plan software . Therefore, take a deep breath, calm down, and get started with writing your business plan.
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Frequently asked questions, should i hire a professional to write my trucking business plan.
Hiring a professional for your business plan is a great option: it will make things easier for you. But no one knows your business better than yourself.
So, try writing your trucking company business plan with the help of business plan software. That way you will get guidance as well as professionalism in your plan.
How often should you update your trucking business plan?
Remember, your trucking business plan is a living document which means it is flexible and open for changes whenever you want. Ideally, at least updating your business plan once a month as per the current situation is advised.
Should I include photos of trucks and equipment in a plan?
Including photos of your trucks and other equipment is a good option to showcase the service range of your trucking business. Do not overuse them, and just include them in your products and services section.
What legal and regulatory aspects should be covered in a trucking business plan?
A trucking company business plan should include various regulatory aspects:
- Business structure
- Licenses and permits
- Vehicle rules compliance
- Driver compliance
- Record keeping
About the Author
![free trucking business plan free trucking business plan](https://static-web.upmetrics.co/wp-content/uploads/2023/10/30161050/vinay-kevadiya-1.jpg)
Vinay Kevadiya
Vinay Kevadiya is the founder and CEO of Upmetrics, the #1 business planning software. His ultimate goal with Upmetrics is to revolutionize how entrepreneurs create, manage, and execute their business plans. He enjoys sharing his insights on business planning and other relevant topics through his articles and blog posts. Read more
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How To Write a Winning Trucking Business Plan + Template
Creating a business plan is essential for any business, but it can be especially helpful for trucking businesses who want to improve their strategy and/or raise funding.
A well-crafted business plan not only outlines the vision for your company, but also documents a step-by-step roadmap of how you are going to accomplish it. In order to create an effective business plan, you must first understand the components that are essential to its success.
This article provides an overview of the key elements that every trucking business owner should include in their business plan.
Download the Ultimate Trucking Business Plan Template
What is a Trucking Business Plan?
A trucking business plan is a formal written document that describes your company’s business strategy and its feasibility. It documents the reasons you will be successful, your areas of competitive advantage, and it includes information about your team members. Your business plan is a key document that will convince investors and lenders (if needed) that you are positioned to become a successful venture.
Why Write a Trucking Business Plan?
A trucking business plan is required for banks and investors. The document is a clear and concise guide of your business idea and the steps you will take to make it profitable.
Entrepreneurs can also use this as a roadmap when starting their new company or venture, especially if they are inexperienced in starting a business.
Writing an Effective Trucking Business Plan
The following are the key components of a successful trucking business plan:
Executive Summary
The executive summary of a trucking business plan is a one to two page overview of your entire business plan. It should summarize the main points, which will be presented in full in the rest of your business plan.
- Start with a one-line description of your trucking company
- Provide a short summary of the key points in each section of your business plan, which includes information about your company’s management team, industry analysis, competitive analysis, and financial forecast among others.
Company Description
This section should include a brief history of your company. Include a short description of how your company started, and provide a timeline of milestones your company has achieved.
If you are just starting your trucking business, you may not have a long company history. Instead, you can include information about your professional experience in this industry and how and why you conceived your new venture. If you have worked for a similar company before or have been involved in an entrepreneurial venture before starting your trucking firm, mention this.
You will also include information about your chosen trucking business model and how, if applicable, it is different from other companies in your industry.
Industry Analysis
The industry or market analysis is an important component of a trucking business plan. Conduct thorough market research to determine industry trends and document the size of your market.
Questions to answer include:
- What part of the trucking industry are you targeting?
- How big is the market?
- What trends are happening in the industry right now (and if applicable, how do these trends support the success of your company)?
You should also include sources for the information you provide, such as published research reports and expert opinions.
Customer Analysis
This section should include a list of your target audience(s) with demographic and psychographic profiles (e.g., age, gender, income level, profession, job titles, interests). You will need to provide a profile of each customer segment separately, including their needs and wants.
For example, a trucking business’ customers may include:
- Retailers who need goods delivered to their stores
- Manufacturers who need raw materials shipped to them
- Big box stores that require inventory to be delivered to multiple locations
You can include information about how your customers make the decision to buy from you as well as what keeps them buying from you.
Develop a strategy for targeting those customers who are most likely to buy from you, as well as those that might be influenced to buy your products or trucking services with the right marketing.
Competitive Analysis
The competitive analysis helps you determine how your product or service will be different from competitors, and what your unique selling proposition (USP) might be that will set you apart in this industry.
For each competitor, list their strengths and weaknesses. Next, determine your areas of competitive differentiation and/or advantage; that is, in what ways are you different from and ideally better than your competitors.
Marketing Plan
This part of the business plan is where you determine and document your marketing plan. . Your plan should be clearly laid out, including the following 4 Ps.
- Product/Service : Detail your product/service offerings here. Document their features and benefits.
- Price : Document your pricing strategy here. In addition to stating the prices for your products/services, mention how your pricing compares to your competition.
- Place : Where will your customers find you? What channels of distribution (e.g., partnerships) will you use to reach them if applicable?
- Promotion : How will you reach your target customers? For example, you may use social media, write blog posts, create an email marketing campaign, use pay-per-click advertising, launch a direct mail campaign. Or you may promote your trucking business via public relations and pitch your story to reporters.
Operations Plan
This part of your trucking business plan should include the following information:
- How will you deliver your product/service to customers? For example, will you do it in person or over the phone only?
- What infrastructure, equipment, and resources are needed to operate successfully? How can you meet those requirements within budget constraints?
The operations plan is where you also need to include your company’s business policies. You will want to establish policies related to everything from customer service to pricing, to the overall brand image you are trying to present.
Finally, and most importantly, in your Operations Plan, you will lay out the milestones your company hopes to achieve within the next five years. Create a chart that shows the key milestone(s) you hope to achieve each quarter for the next four quarters, and then each year for the following four years. Examples of milestones for a trucking business include reaching $X in sales. Other examples include hiring key personnel, acquiring necessary licenses and permits, and establishing partnerships with vendors.
Management Team
List your team members here including their names and titles, as well as their expertise and experience relevant to your specific trucking industry. Include brief biography sketches for each team member.
Particularly if you are seeking funding, the goal of this section is to convince investors and lenders that your team has the expertise and experience to execute on your plan. If you are missing key team members, document the roles and responsibilities you plan to hire for in the future.
Financial Plan
Here you will include a summary of your complete and detailed financial plan (your full financial projections go in the Appendix).
This includes the following three financial statements:
Income Statement
Your income statement should include:
- Revenue : how much revenue you generate.
- Cost of Goods Sold : These are your direct costs associated with generating revenue. This includes labor costs, as well as the cost of any equipment and supplies used to deliver the product/service offering.
- Net Income (or loss) : Once expenses and revenue are totaled and deducted from each other, this is the net income or loss
Sample Income Statement for a Startup Trucking Company
Balance sheet.
Include a balance sheet that shows your assets, liabilities, and equity. Your balance sheet should include:
- Assets : All of the things you own (including cash).
- Liabilities : This is what you owe against your company’s assets, such as accounts payable or loans.
- Equity : The worth of your business after all liabilities and assets are totaled and deducted from each other.
Sample Balance Sheet for a Startup Trucking Company
Cash flow statement.
Include a cash flow statement showing how much cash comes in, how much cash goes out and a net cash flow for each year. The cash flow statement should include:
- Cash Flow From Operations
- Cash Flow From Investments
- Cash Flow From Financing
Below is a sample of a projected cash flow statement for a startup trucking business.
Sample Cash Flow Statement for a Startup Trucking Company
You will also want to include an appendix section which will include:
- Your complete financial projections
- A complete list of your company’s business policies and procedures related to the rest of the business plan (marketing, operations, etc.)
- Any other documentation which supports what you included in the body of your business plan.
Writing a good business plan gives you the advantage of being fully prepared to launch and/or grow your trucking company. It not only outlines your business vision but also provides a step-by-step process of how you are going to accomplish it.
Now that you know what you should include in a trucking business plan, it’s time to get started on your own. Use the tips and examples provided in this article as a guide, and don’t be afraid to ask for help from an experienced business advisor or mentor. With a well-crafted business plan in hand, you’ll be ready to hit the ground running and build the trucking company of your dreams.
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BUSINESS STRATEGIES
How to create a trucking business plan
- Nirit Braun
- Sep 8, 2023
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A trucking business plan is a strategic document that outlines the goals, objectives, operational strategies, financial projections and other essential aspects of a trucking company. This plan not only lays out the foundational framework for the business but also acts as a reference tool to attract investors, secure loans and make informed decisions throughout the company's lifecycle.
When starting a trucking business, a comprehensive and clear business plan is of paramount importance. It acts as a guiding document, helping entrepreneurs navigate the complexities of launching a new venture.
Looking to hit the road with your trucking business? Create a business website today with Wix.
How to create a successful trucking business plan in 6 steps
Now we’ll walk through the six essential steps for crafting a trucking business plan tailored to your company's unique needs.
Executive summary
Business and domain names
Market analysis and research
Operations plan
Marketing and advertising plan
Financial plan
01. Executive summary
Your executive summary is a concise overview of your entire trucking business plan. It serves as the introduction to your business idea, encapsulating the key elements of your plan in a compelling and succinct manner. This section is crucial because it's often the first part potential investors, lenders and partners read. Writing a clear executive summary for your trucking business involves distilling the most important information into a few paragraphs.
You can do this by starting with a brief description of your trucking business, highlighting its core services, mission and value proposition. Provide an overview of the trucking industry, emphasizing the growth potential and any unique market trends you aim to capitalize on.
Then explain what sets your trucking business apart from competitors. Highlight your strengths, such as superior service, technology adoption or strategic partnerships.
Remember to always offer a glimpse into your financial expectations, showcasing your revenue projections, anticipated expenses and estimated profitability. Mention the amount of funding you're seeking and how it will be used. Briefly discuss your capital requirements when relevant.
Prioritize outlining the significant milestones you aim to achieve, such as acquiring a certain number of trucks, reaching specific revenue targets or expanding to new routes.
Example executive summary for a trucking company: “[Your Trucking Company Name] aims to revolutionize the transportation industry by offering reliable, efficient and technology-driven freight solutions. With a focus on sustainability and timely deliveries, we are poised to meet the growing demand for exceptional logistics services. Our fleet of state-of-the-art trucks, supported by real-time tracking and advanced route optimization, ensures seamless operations. In an industry where trust is paramount, our commitment to transparency, safety and customer satisfaction sets us apart. Our projections indicate steady growth, with revenues projected to double within the first three years. We seek an initial investment of $500,000 to fund fleet expansion and technological enhancements. Our experienced team, led by industry veterans, is equipped to steer our business toward success. Join us in reshaping the future of trucking.”
02. Business and domain names
Knowing how to name a business is crucial for a trucking venture and a key step before you register your business . It's your first opportunity to make a strong impression and establish your brand identity. A well-chosen name can resonate with your target audience, convey your values and distinguish you from competitors. While brainstorming, consider using a business name generator like one from Wix for inspiration. These tools can offer unique and creative options that align with your trucking services.
Be inspired: Trucking business names
When you've settled on a company name, don't forget to secure a relevant domain name for your business website. Choose a domain name that mirrors your company name or incorporates relevant keywords related to trucking or logistics. Ensure it's easy to spell, memorable and representative of your brand.
For instance, if your trucking business is named "SwiftHaul Logistics," your domain name could be "SwiftHaulLogistics.com."
03. Market analysis and research
Incorporating a robust market analysis into your trucking business plan is vital for crafting effective strategies. Research the competitive landscape to identify key players, market trends and gaps in services. Understand customer preferences for this type of business and tailor them to your offerings.
Analyze your target audience, such as industries that frequently require shipping services, manufacturers, distributors and e commerce businesses. Leverage this information to create a marketing strategy that highlights how your trucking services meet their specific needs.
04. Operations plan
The operations plan outlines the practical aspects of running your trucking business. This includes selecting a suitable location for your operations, acquiring premises if needed (like a depot or office space) and determining the number and types of trucks required to fulfill demand. Note that you don’t need an entire fleet to run a successful trucking business; 90% of all companies in the U.S. operate with fewer than six trucks.
Identify staffing needs, from drivers to administrative personnel, and outline their roles and responsibilities. Detail the technology and systems you'll implement for route optimization, real-time tracking and communication.
Tip: If you're looking for a more niche are of operations, check out how to create a box truck business plan .
05. Marketing and advertising strategies
Your trucking marketing and advertising plan should outline how you intend to promote your trucking business and attract clients. Consider utilizing social media platforms and your business website to showcase your services, share industry insights and engage with potential clients. You can also start making a website to create and showcase informative blog posts, videos or infographics about transportation trends, regulatory changes or best practices to establish your expertise.
It’s important to attend industry events, trade shows and conferences to connect with potential clients and partners. Use these events to collaborate with manufacturers, distributors and other businesses that require shipping services to establish mutually beneficial partnerships.
You’ll need to develop a suite of brand assets to use in your marketing as well, starting with a company logo. You can use a free logo maker or trucking logo maker to get a professional design in minutes. Learn how to make a trucking logo for your business.
06. Financial plan
A financial plan outlines the financial aspects of your trucking business, including cost to start an LLC , other startup costs, revenue projections, expenses and profitability timelines. Detail the initial investment required for fleet acquisition (new trucks can cost upwards of $150,000 ), technology implementation, office setup and marketing efforts. Highlight key performance indicators (KPIs) that will be tracked, such as average revenue per load, operating costs per mile and profit margins.
Explain how you intend to fund your business initially, whether through personal savings, loans or investments. Provide a clear timeline for when you anticipate reaching profitability and returning investments to stakeholders.
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Trucking business plan examples
Below we’ve put together two draft business plan templates for hypothetical trucking businesses, each including all the sections discussed in our previous how-to steps.
Trucking business plan template 1: UrbanHaul Trucking Services
UrbanHaul Trucking Services aims to revolutionize last-mile logistics in urban areas by offering efficient, eco-friendly freight solutions. With a focus on electric vehicles and smart route optimization, we are committed to reducing congestion and carbon emissions while ensuring prompt deliveries. Our cutting-edge technology ensures real-time tracking and transparency for our clients. Seeking an initial investment of $750,000, our projected growth aligns with the rise in urban eCommerce. Join us in shaping a sustainable future for urban transportation.
Company and domain name
Company name: UrbanHaul Trucking Services
Domain name: www.urbanhaultrucking.com
Market research: Identify key urban areas with high demand for last-mile logistics, noting the challenges of urban traffic and environmental regulations.
Market opportunity: Target eCommerce businesses, local retailers and distribution centers as potential clients.
Location: Centralized office near urban hubs
Premises: Secure depot for vehicle storage and maintenance
Equipment: Fleet of electric trucks equipped with route optimization software
Staffing: Hiring experienced drivers, mechanics and administrative personnel
Online presence: Active social media engagement and informative blog posts
Networking: Participation in urban mobility expos and sustainability events
Content marketing: Publish articles on eco-friendly logistics solutions
Partnerships: Collaborate with local eCommerce platforms and eco-conscious brands
Direct outreach: Target local businesses through personalized email campaigns
Startup costs: Fleet acquisition, technology implementation, office setup
Funding: $400,000 from personal savings, $350,000 from angel investors
Financial projections: Projected revenue growth of 20% annually, aiming to reach profitability within two years
Key metrics: Average revenue per delivery, electric vehicle operational cost savings
Trucking business plan template 2: TransGlobal Logistics Solutions
TransGlobal Logistics Solutions is positioned to be a leading player in the global transportation market. Our diversified services, which range from long-haul trucking to international shipping, provide a comprehensive solution for clients' logistical needs. With an initial investment of $1.5 million, we plan to expand our fleet and enhance our digital infrastructure. Join us in shaping the future of international freight logistics.
Company name: TransGlobal Logistics Solutions
Domain name: www.transgloballogistics.com
Market research: Analyze the international shipping market, identifying growth opportunities and trade routes. Understand the impact of geopolitical factors and trade agreements on the transportation industry.
Market opportunity: Target industries like manufacturing, retail and wholesale that rely on global supply chains.
Location: Strategically located near major transportation hubs
Premises: Warehouses for cross-docking and storage
Equipment: Diverse fleet of trucks, container ships and air cargo carriers
Staffing: Recruitment of experienced logistics professionals, customs experts and international relations specialists
Online presence: Multilingual website showcasing global capabilities, case studies and client testimonials
Networking: Participation in international trade shows and logistics conferences
Content marketing: Publish whitepapers on navigating international shipping regulations
Partnerships: Collaborate with shipping ports, customs brokerage firms and intermodal transport providers
Direct outreach: Connect with exporters and importers through targeted email campaigns
Startup costs: Fleet expansion, digital platform development, staff recruitment
Funding: $1 million from venture capital; $500,000 from business loans
Financial projections: Projected annual growth rate of 15%, aiming to achieve profitability within three years
Key metrics: Revenue per trade lane, customer retention rate, cost savings from optimized logistics
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Trucking Business Plan Free Template
This comprehensive guide is designed to help you develop a clear and effective plan for starting or growing your trucking business. Whether you're a seasoned trucking professional or just starting out in the industry, this template will provide you with the basic outline and insights you need to succeed. With sections on market analysis, operations, financial projections, and more, you'll be able to create a complete business plan.
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Get the free business plan template here!
This comprehensive guide is designed to provide you with a clear and effective plan for starting or growing your trucking business. Whether you're a seasoned trucking professional or just starting out in the industry, our template will give you the tools and insights you need to succeed.
Why Do You Need a Trucking Business Plan?
A trucking business plan is an essential document for anyone starting a trucking business. It is a blueprint that outlines your business goals, strategies, and plans for growth. A well-crafted trucking business plan will help you secure funding, attract investors, and make informed decisions about your business.
The Importance of Market Analysis
One of the most critical components of a trucking business plan is the market analysis. You need to know who your competition is, what the demand for your services is, and what the market trends are. This information will help you identify your target market, create a marketing strategy, and set pricing that is competitive and profitable.
Developing Your Trucking Operations Plan
Your trucking business plan should also include an operations plan that outlines how your business will function on a day-to-day basis. This includes everything from the equipment and technology you will use to how you will manage your drivers and dispatchers.
Creating a Financial Plan for your Trucking Business
A comprehensive financial plan is also an essential part of your trucking business plan. This should include your startup costs, operating costs, projected revenue, and cash flow projections. It is essential to be realistic when creating your financial plan and to ensure that you have enough funding to get your business off the ground and keep it running until it becomes profitable.
Why Use Our Trucking Business Plan Template?
Our free trucking business plan template is designed to guide you through the process of creating a comprehensive and effective business plan. Our template includes all the essential components of a successful trucking business plan, from market analysis to financial projections.
Trucking Business Plan Outline
I. Introduction
- Brief overview of the business, its purpose, and goals
- Overview of the trucking industry and target market
- Summary of key stakeholders and their roles
II. Market Analysis
- Analysis of the trucking industry, including market size, growth, and trends
- Overview of target market and target customers
- Analysis of competitors and their strengths and weaknesses
- Identification of market opportunities and how the business plans to differentiate itself
III. Services Offered
- Description of trucking services offered, including types of cargo and destinations served
- Overview of equipment and technology used, and any value-added services
IV. Marketing and Sales Strategy
- Description of marketing and sales strategies, including pricing, advertising and promotions, and sales channels
- Identification of target customers and how the business plans to reach them
- Analysis of market demand and projected sales
V. Operations Plan
- Description of operational plan, including acquisition and management of trucks, hiring and training of drivers, and dispatch and logistics
- Overview of supply chain management and quality control processes
- Discussion of any regulatory requirements and compliance measures
VI. Financial Projections
- Projected income statements, balance sheets, and cash flow statements
- Analysis of expected startup costs, funding sources, and future financing needs
- Discussion of key financial metrics and targets
VII. Organization and Management
- Description of organizational structure, including ownership structure and management team
- Overview of roles and responsibilities of key stakeholders
- Discussion of any legal and compliance requirements
VIII. Risk Analysis
- Identification and analysis of potential risks to the business, including economic, competitive, and regulatory risks
- Overview of contingency plans to mitigate these risks
IX. Conclusion
- Summary of key findings and recommendations
Trucking Business Plan Frequently Asked Questions
Q: what is a trucking business plan.
A: A trucking business plan is a comprehensive document that outlines your business goals, strategies, and plans for growth. It includes a detailed analysis of the market, your target market, your competition, your operations plan, and a financial plan.
Q: What should I include in my trucking business plan?
A: Your trucking business plan should include a market analysis, operations plan, financial plan, and a marketing plan. It should also include information on your target market, competition, and pricing strategy.
Q: How do I create a financial plan for my trucking business plan?
A: To create a financial plan, you will need to estimate your startup costs, operating costs, projected revenue, and cash flow projections. It is important to be realistic when creating your financial plan and to ensure that you have enough funding to get your business off the ground and keep it running until it becomes profitable.
Q: How can a trucking business plan template help me?
A: A trucking business plan template can help guide you through the process of creating a comprehensive and effective business plan. It provides all the essential components of a successful trucking business plan and can save you time and effort in creating your own plan from scratch. It also provides tips and insights based on the experience of industry professionals to help you make informed decisions about your business.
We Know a Good Business Plan When we See One
Collectively, our team has reviewed thousands of business plans and has nearly 20 years of experience making SBA loans. We've also helped more than 50,000 businesses create financial projections across many industries and geographies.
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Adam served as Executive Director for a SBA microlender in Indiana for over 10 years helping businesses and reviewing thousands of business plans.
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Grace has built hundreds of custom financial models for businesses as well as our projection templates which are used by thousands of businesses every year.
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Kyle served as an SBA loan officer for 7 years working directly with startups and business owners to review their business plans, projections, and prepare their loan package.
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How to Write a Trucking Business Plan
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Unless you have rich relatives willing to finance your trucking business with no questions asked, it’s in your best interest to write a business plan to aid you when approaching lenders, investors or partners to maximize your chance of getting funding assistance. A comprehensive, detailed and properly structured trucking business plan can help you get the financing you need to purchase trucks, truck equipment and other necessities. But more importantly, it also provides a critical road map of practical and logistical steps you’ll take when starting a trucking business.
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What to Include in a Trucking Business Plan
A trucking business plan should contain much of the same information as any other type of business plan, regardless of the product or service the business provides. According to the U.S. Small Business Administration (SBA), a good business plan “guides you through each stage of starting and managing your business … [including] how to structure, run and grow your new business.” For truckers, the business plan should include industry-specific information that displays a thorough knowledge of what it takes to be competitive and profitable, according to the Owner-Operator Independent Drivers Association (OOIDA), a Missouri-based organization that advocates for the rights of professional truck drivers. The first thing you’ll want to do before sitting down to write your business plan is figure out what potential lenders, financiers or investors need to know to ensure your funding requirements are met. You will need to include some customized information in your business plan that is specific to your company’s individual needs. However, just about all business plans should include the following, according to the SBA:
Executive Summary
Company description, market analysis, sales and marketing, funding request, financial projections.
The details in each section will differ depending on whether you want to be an independent owner-operator or company owner with a fleet of trucks. There will also be variations based on the type of freight you’ll be hauling and where your trucks will be travelling. As a general rule, though, each section should contain detailed and accurate information that lets potential investors or partners know you’ve done your due diligence on the trucking industry and have a clear understanding of what it takes to be successful.
Steps to Take Before Writing a Business Plan for Your Trucking Company
As you begin the process of obtaining financing, it’s a good idea to do as much legwork as possible ahead of time so you'll be ready to hit the ground running when your financing comes through. Linda Finch, a compliance specialist with the OOIDA, recommends taking the following steps:
- Register your business as either a sole proprietorship with a DBA, a Limited Liability Company (LLC) or a corporation.
- Obtain an Employee ID Number (EIN).
- Register your business with the U.S. Department of Transportation to get a federal DOT number. You’ll need to provide information on where you’ll be operating, how many trucks you plan to have and the types of trucks, whether you’ll haul hazardous materials, your vehicle weight, the type of cargo and whether you’ll be a freight forwarder.
- Apply for a Motor Carrier (MC) number. This can be done online via the Federal Motor Carrier Safety Administration (FMCSA).
- File a BOC-3 with the FMCSA. This form “gives motor carriers, brokers and freight forwarders a legal presence in any state where they do business,” according to the RTSFinancial website.
- Obtain truck insurance. Finch recommends $750,000 in primary liability insurance, $100,000 in cargo insurance and $1 million in liability insurance. Primary liability covers damages to people or property caused by your truck or trucks.
- Get your apportioned plates and set up an International Registration Plan, or IRP. According to the IRP website, this is a an agreement between the states, District of Columbia and Canadian provinces that recognizes the registration of commercial motor vehicles registered by other jurisdictions. It provides for “payment of apportioned licensing fees based on the total distance operated in all member jurisdictions.”
- Set up an International Fuel Tax Agreement (IFTA) account, which is another agreement between the U.S. and Canada that simplifies fuel use taxes by interstate carriers, according to the California.gov website.
- Get a Unified Carrier Registration (UCR). This requires carriers and other businesses involved in interstate commerce to pay annual fees based on fleet size to supplement funding for state highway motor carrier registration and safety programs, according to UCR.gov.
Information to Gather for Your Trucking Business Plan
The OOIDA also recommends that truckers educate themselves on industry and financial basics before putting their business plans together. To that end, the OOIDA offers business education training seminars designed to help those who are starting a trucking business. The seminars cover everything from obtaining financing and developing the right financial plan to ensuring that all the right boxes are checked in terms of permits, licensing, taxes and compliance. When developing your business plan, the OOIDA offers the following guidelines:
- Determine what your operating assets are in comparison to your liabilities.
- Learn about managing costs to realistically project your financial success.
- Determine your cost of operations, including the fixed and variable costs.
- Determine how much cash flow you will need in order to succeed.
- Develop realistic operating procedures that reflect the freight you will be hauling and the demographics of where the freight originates and where it is delivered.
- Research the different rates required by different freight lanes, and why they differ.
- Learn where to get freight and when to use or avoid load boards. Load boards, also known as freight marketplaces, are online load and truck freight boards used by owner-operators to find their own loads.
- Educate yourself on spot market versus contract rates. Aborn & Co., a Massachusetts-based provider of managed freight solutions, describes a spot rate as “a one-time single-use rate quote that is valid for a short period of time and is issued to a shipper at or near the time of their shipment.” A contract rate is “a fixed price that is valid for a predetermined period of time and is negotiated with a shipper in advance of any freight moves.”
- Research the advantages and disadvantages of adding fuel surcharges to your pricing.
It’s also important to familiarize yourself with the basics of accounting, regardless of whether you plan to handle this function yourself or contract it out to a third party. Courses are offered online and at community colleges that can help you learn about balance sheets, profit-loss statements and how to calculate total assets and total liabilities.
When you’re ready to start writing your business plan, using a template or outline like the one below will ensure your business plan is properly structured and organized. Read: 4 Signs It’s Time to Get a Business Line of Credit
Trucking Business Plan Template
To expedite the trucking business plan process, utilize a basic business plan template and customize it to your needs. Regardless of your industry, all business plans should cover the same key sections. Here are key sections to include when writing a business plan for a trucking company:
This section should provide a short overview of your company and its plans for the future. Include details on your company mission, financial information and performance and growth plans. Ideally, the executive summary will be no more than one or two pages. Because it’s the first thing someone will read, you need to make a strong impression here. Keep the wording crisp, compelling, precise and to the point. If you don’t catch the reader’s attention and make a strong case for why you’re starting a business and why it will succeed, your business plan might get pushed aside before anyone has a chance to read the rest of it. Related: How to Start Your Own Trucking Company in 10 Steps
The next section of your trucking business plan is the company description. This is where you write about the background of your business and your connection to the trucking industry. You can go into a little more detail here about the company mission, how your business will differ from the rest of the playing field and who’ll make up your client base. Use this section to outline the advantages you have over competitors. For example, you might have expertise in a particular type of freight or market, or a strong network of logistics companies, shippers and freight brokers. Provide details on your experience in the business, including everything from starting out as a truck loader to managing a fleet of truckers. This is also where you’ll provide key facts about your trucking business, such as the owners and management team (if applicable), the year of incorporation, where you’ll operate and the states your business is registered in. You will also provide details on employees (if any), their roles and responsibilities and your plans to hire more as your business grows.
In this section, you’ll outline the services you plan to offer, how you’ll go about executing them and how they will meet market demand. If you are licensed to haul hazardous materials, for example, explain how this is a competitive advantage and what kinds of customers will require your services. Provide information on where you’ll be operating and how that will impact your services. A trucker in the Southeast, for example, would probably haul more construction materials than one in the Northeast. Similarly, a trucker in the prairie states would probably have more seasonal business tied to farming. The services section should also include details about your pricing structure, the types of freight you plan to haul and the industries you’ll serve. Read This: 10 Business Plan Tips for Your Startup
In many respects, the market analysis portion is the most important section of your trucking business plan because it’s where you can wow lenders and investors with your market knowledge. The goal here is to provide the kind of data that shows you’re well-versed in industry trends, market demand, what works well and doesn’t work well in winning new business and the techniques you’ll use to gain an edge over rivals. Your market analysis should include the following information:
- Industry Description and Outlook: Provide data on the size of the trucking industry in both dollars and carriers. Include the number of competitors, the biggest players, the biggest shippers and the annual revenue the industry generates. Also, provide data on how the industry is expected to grow and evolve over the next five to 10 years.
- Target Market: This is where you’ll narrow down the data to your specific niche market (e.g. tankers, refrigerated loads, flatbeds, etc.). Use this space to provide information on the market size in dollars, the number of competitors, the biggest shippers and carriers and the market outlook over the next five to 10 years. Explain how you plan to stand out from the crowd in terms of services, expertise, price and reliability.
Also, provide data on how much market share you expect to carve out during a specified time period and how you plan to grab it. Be specific here. Instead of saying, “We plan to gain share by providing exceptional service,” explain what makes your service exceptional, how it differs from the competition and why customers will migrate to your company.
- Pricing and Margins: Provide details on how you intend to price your services, how those stack up against competitors and what kinds of margins you’ll need to operate on to be profitable.
- Competitor Analysis: Potential lenders and investors will want to know that you have a deep knowledge of the carriers and owner-operators you’ll be competing against. Provide detailed information on competitors, who their main customers are, what they do well, where their weaknesses lie and how you plan to exploit those weaknesses.
- Regulatory Environment: The trucking industry is heavily regulated by the federal government (and some state governments) in terms of the number of hours you can drive in a day and a week, the types of material you can haul and where you can haul them, your vehicle’s fuel emissions and the types of permits and licenses required to operate. Explain the regulations you’ll need to operate under and how you plan to comply with them.
You can touch on operational risks here as well, particularly as they pertain to how pending legislation or regulations could impact your business.
Reaching the right people at the right time and in the right way will be a key element of your trucking business’ success. So will convincing prospects to do business with you once you’ve established a relationship. The sales and marketing section of your business plan is where you outline strategies to find potential customers and sell them on your services.
- Marketing Strategy: Use this section to explain what you’ll do to build and grow your client base. Provide details on how you’ll market your business, whether through traditional advertising on industry websites, through social media, by purchasing phone and email lists, by visiting trade shows or some combination of the above or other means. Be specific about the types of clients your marketing will focus on and where they’re located. Also, provide details about the budget you plan to set aside for marketing.
- Sales Strategy: This section will mainly focus on the type of sales operation you plan to set up. If you plan to hire your own sales force, provide details on how many sales agents you expect to have on staff, what their pay structure will look like and what kind of weekly or monthly sale quotas you’ll implement. If you plan to use an outside third party to handle sales, identify companies you might use, why they’re successful and how much you’ll budget. Also, provide details on the process of finding and calling on prospects.
This section provides details on the financing requirements you’ll need to get your trucking business off the ground and keep it operating at full strength in the future. Be very specific in terms of the amount of money needed over the next several years and how it will be used. For example, you might use it to purchase a truck and truck equipment, pay salaries and bills and grow your client base. Also, specify whether you will require debt or equity, for how long and at what terms.
This is where you’ll disclose your company’s financial details and its ability to meet its fiscal targets. Include basic financial documents such as the balance sheet, profit-loss statement, cash flow statement and sales forecast. You can also include a break-even analysis explaining what you need to sell, either monthly or annually, to cover your costs of doing business. Provide an outlook of how the business is expected to perform over the next five years.
How to Get Financing for Your Trucking Business
Now that you have a trucking business plan in place, where do you go for financing? Banks and other traditional lending institutions are an obvious option, but they often won’t finance brand new businesses. Similarly, the Small Business Administration requires three years of business tax returns, which means startups have limited financing options. One option, however, is Seek Business Capital, which specializes in helping startups and early-stage business obtain the funding they need to get their businesses up and running regardless of time in business. To get pre-qualified for trucking business financing or to just learn more about your options, check out the ultimate guide to truck financing . More From Seek
- 10 Tips for Female Entrepreneurs From Women Who Founded Companies
- Cities With the Most Female Entrepreneurs
- What Startups Should Know About Equipment Financing
Business Loan Resources
- Startup Business Loans
- Small Business Loans
- Equipment Loans
- Truck Financing Options
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Trucking Company Business Plan [Sample Template]
By: Author Tony Martins Ajaero
Home » Business ideas » Transportation Industry » Trucking
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Are you about starting a trucking company ? If YES, here’s a complete sample trucking business plan template & feasibility report you can use for FREE. Okay, so we have considered all the requirements for starting a trucking business.
We also took it further by analyzing and drafting a sample trucking company marketing plan template backed up by actionable guerrilla marketing ideas for trucking businesses. So let’s proceed to the business planning section.
A Sample Trucking Company Business Plan Template
1. industry overview.
The trucking industry plays a very important role in the economy of the world; they provide essential services to the united states economy by transporting large quantities of raw materials, machines, equipment, dirt, rocks, building materials, and finished goods over land—typically from manufacturing plants to retail distribution centers and from warehouses to construction sites.
As matter of fact, heavy duty trucks are indispensable in the construction industry. The trucking industry is responsible for the majority of freight movement over land, and is a major stakeholder in the manufacturing, transportation, and warehousing industries in the United States of America and in other parts of the world.
In the United States, Large trucks and buses drivers require a commercial driver’s license (CDL) before they can be permitted to operate. The activities in the trucking industry is regulated by the United States Department of Transportation (USDOT), the Federal Motor Carrier Safety Administration (FMCSA) and the Federal Highway Administration (FHWA).
They ensure that drivers and trucking companies adhere to safety rules and regulations and also that potential truck drivers undergo special training on how to handle large vehicle before applying and obtaining their commercial driver’s license (CDL).
Statistics has it that food and food products, lumber or wood products, as well as petroleum or coal account for 34.8 percent of truck traffic in the United States and by volume, clay, glass, concrete and stone, farm products, as well as petroleum and coal account for 35.6 percent of truck traffic.
The advancement in technology in areas such as computers, satellite communication, and the internet, have contributed immensely to the growth of the industry. The advancement in technology is responsible for increase of productivity of trucking companies operations, it helps them effectively monitor their trucks and their drivers and it helps driver save time and effort.
The trucking industry is not restricted to trailers or large trucks hauling goods from destination to another via interstate highways, it also involves smaller trucks that helps transport smaller quantity of goods from one destination within a city to another destination within same city.
Trucking business is not only about transporting goods over a long distance. As a matter of fact, in the U.S. about 66 percent of truck tonnage moves distances of 100 miles or less; local and regional hauls account for almost half of all truck revenues and are they are the preferred choice for private carriers.
No doubt starting and operating a trucking business can be challenging, but the truth is that it can be rewarding at the same time. One good thing about the industry is that it is open for both big time investors who have the capacity to start the business with fleet of trucks and aspiring entrepreneurs who may one to start with just one truck.
2. Executive Summary
Terry Granville Truck Service Inc. is a trucking company that will be based in 10548 SD Highway 32 Belle Fourche South Dakota.
We will provide daily freight services (trucking services, moving services & supplies, and bulk material sales & supplies) on one skid to full truckloads to and from South Dakota, North Dakota, Southern Illinois; St Louis, Missouri; Southeast Missouri; Evansville, IN; Nashville, Tennessee; Memphis, Tennessee and Chicago land areas et al.
We will also provide cross docking, warehousing, lift gate and specialized van service in South Dakota, North Dakota, Southern Illinois, Southeast Missouri and Western Kentucky.
Terry Granville Truck Service Inc. has been able to secure all relevant licenses and permits to operate throughout the United States and Canada.
We will ensure that we abide by the rules and regulations of the trucking industry and we will only hire experienced and qualified drivers with valid commercial driver’s license (CDL).Our customers and potential customers alike can be rest assured that they will get quality services at competitive rates.
We will go the extra mile to ensure the safety of goods under our care and our customers get value for their money. At Terry Granville Truck Service Inc. our goal is to provide excellent service to our customers and we pride ourselves on the integrity and competence of our company and our employees.
Terry Granville Truck Service Inc. will ensure that all our deliveries are on time and we supersede the expectation of our customers. We will only put trucks that are in top shape on the road, and all our drivers will be trained to be courteous, friendly and to abide by the rules and regulations of the industry.
We will maintain and take proper care of our drivers as well as our trucks and equipment.Terry Granville Truck Service Inc. is a family business; it is owned by Terry Granville and family. Terry Granville is an investor who has an interest in the trucking industry.
The company will be fully financed by Terry Granville and he will be the founding chief operating officer of the company. Terry Granville has a diploma in Transport and Logistics Management and his has over 5 years of experience in the transportation industry.
3. Our Products and Services
Terry Granville Truck Service Inc. is a company that looks forward to deliver excellent services in terms of helping our customers move goods and equipment from one destination to another destination. We want to be known as the trucking company that truly care for her customers. Our business offering are listed below;
- Moving supplies
- All furniture quilt-wrapped for protection
- On-time pickup and delivery
- Home and office movement
- Local and long distance movement
- Heavy duty equipment movement
- Excavators movement
- Bulldozers movement
- Construction equipment movement
- Agricultural equipment movement
- Movement of oil and gas products
4. Our Mission and Vision Statement
- Our Vision is to become one of the preferred choices of individual and organization when it comes to the demand for trucking services in the whole of the United States of America.
- Our mission is to ensure that we build a trucking company that will operate in the whole of the United States of America and Canada; a company that will boast of having some of the best and reliable truck drivers in the whole of the United States of America.
Our Business Structure
Our business structure will be designed in such a way that it can accommodate but full – time employees and part – time / contract staff; those who just want to take some time off to generate additional incomes.
We intend starting the business with a handful of full time employees (drivers and back office staff) and some of the available driving roles fill be handled by qualified contract drivers. Adequate provision and competitive packages has been prepared for all our employees.
For now, we will contract the maintenance of our trucks to service provider. This is because we don’t intend to maintain a very large overhead from the onset. But as soon as the business grow and stabilize, we will assemble our own in – house maintenance team. Below is the business structure and the roles that will be available at Terry Granville Truck Service, Inc.;
- Chief Operating Officer (Owner)
Admin and HR Manager
Transport and Logistics Manager
Business Developer
- Front Desk Officer
5. Job Roles and Responsibilities
Chief Operating Officer (Owner):
- Responsible for providing direction for the business
- Creates, communicates, and implements the organization’s vision, mission, and overall direction – i.e. leading the development and implementation of the overall organization’s strategy.
- Responsible for the day to day running of the business
- Responsible for handling high profile clients and deals
- Responsible for fixing prices and signing business deals
- Responsible for signing checks and documents on behalf of the company
- Evaluates the success of the organization at regular interval
- Coordinates drivers, vehicles, loads and journeys
- operates IT systems
- negotiates and agrees to contracts
- develops and confirms schedules
- plans for and negotiates technical difficulties
- prepares paperwork for regulatory bodies
- liaises and manages staff
- implements health and safety standards
- Plans routes and load scheduling for multi-drop deliveries.
- Books in deliveries and liaises with customers.
- Allocates and records resources and movements on the transport planning system.
- Ensures all partners in the supply chain are working effectively and efficiently to ensure smooth operations.
- Communicates effectively with clients and responds to their requirements.
- Directs all transportation activities.
- Develops transportation relationships.
- Monitors transport costs.
- Negotiates and bargains transportation prices.
- Deals with the effects of congestion.
- Confronts climate change issues by implementing transport strategies and monitoring an organization’s carbon footprint.
- Responsible for overseeing the smooth running of HR and administrative tasks for the organization
- Defining job positions for recruitment and managing interviewing process
- Carrying out staff induction for new team members
- Responsible for training, evaluation and assessment of employees
- Responsible for arranging travel, meetings and appointments
- Oversee the smooth running of the daily office activities.
- Identifies, prioritizes, and reaches out to new partners, and business opportunities et al
- Identifies development opportunities; follows up on development leads and contacts; participates in the structuring and financing of projects; assures the completion of development projects.
- Responsible for supervising implementation, advocate for the customer’s needs, and communicate with clients
- Develops, executes and evaluates new plans for expanding increase sales
- Documents all customer contact and information.
- Represents the company in strategic meetings
- Helps increase sales and growth for the company
- Responsible for preparing financial reports, budgets, and financial statements for the organization
- Provides managers with financial analyses, development budgets, and accounting reports; analyzes financial feasibility for the most complex proposed projects; conducts market research to forecast trends and business conditions.
- Responsible for financial forecasting and risks analysis.
- Performs cash management, general ledger accounting, and financial reporting for one or more properties.
- Responsible for developing and managing financial systems and policies
- Responsible for administering payrolls
- Ensures compliance with taxation legislation
- Handles all financial transactions for the company
- Serves as internal auditor for the company
Commercial Truck Drivers
- Assists in loading and unloading cargo.
- Maintains a logbook of their driving activities to ensure compliance with federal regulations governing the rest and work periods for operators.
- Keeps a record of vehicle inspections and make sure the truck is equipped with safety equipment, such as hazardous material placards.
- Assists the transport and logistics manager in planning their route according to a delivery schedule.
- Local-delivery drivers may be required to sell products or services to stores and businesses on their route, obtain signatures from recipients and collect cash.
- Transports finished goods and raw materials over land to and from manufacturing plants or retail and distribution centers
- Inspects vehicles for mechanical items and safety issues and perform preventative maintenance
- Complies with truck driving rules and regulations (size, weight, route designations, parking, break periods etc.) as well as with company policies and procedures
- Collects and verify delivery instructions
- Reports defects, accidents or violations
Front Desk / Customer’s Service Officer
- Receives Visitors / clients on behalf of the organization
- Receives parcels / documents for the company
- Handles enquiries via email and phone calls for the organization
- Distributes mails in the organization
- Handles any other duties as assigned my the line manager
6. SWOT Analysis
Going by our vision, our mission and the kind of business we want to set – up, we don’t have any other option than to follow due process. Following due process involves hiring business a consultant to help us conduct SWOT analysis and prepare a trucking company marketing plan for our business.
Terry Granville Truck Service Inc. hired the services of a seasoned business consultant with bias for start – ups in the U.S. to help us conduct a thorough SWOT analysis and to guide us in formulating other business strategies that will help us grow our business and favorable compete in the trucking industry.
As a company, we look forward to maximizing our strength and opportunities and also to work around our weaknesses and threats. Here is a summary from the result of the SWOT analysis that was conducted on behalf of Terry Granville Truck Services Inc.;
Our areas of strength in U.S include; size advantages, cost advantages, supply chain, customer loyalty and strong reputation amongst domestic industry players.
Our weakness could be lack of finance, high debt burden, cost structure, lack of scale compared to our peers who have already gained ground in the industry.
- Opportunities:
The opportunities that are available to us as a trucking company in the United States are online market, new services, new technology, and of course the opening of new markets
Some of the threats that we are likely going to face are mature markets, bad economy (economy downturn), stiff competition, volatile costs, and rising fuel prices.
7. MARKET ANALYSIS
- Market Trends
The market trends as it involves the trucking industry especially in the United States and Canada is indeed dynamic and at the same challenging.
But one thing is certain, once a trucking company can gain credibility, it will be much easier for the company to secure permanent deals / contracts with big time merchants and construction companies who are always moving goods and equipment from one part of The United States of America to another part.
No doubt some of the major factors that count positively in this line of business are trust, honesty, good relationship management and of course timely and safe delivery.
8. Our Target Market
Our target market are basically every one (organizations and individual as well who have cause to move things from one location to another location. We cover both short distance (inter states) and long distance (intra states). We are in business to move stuffs and anyone who has stuffs to move within the United States or from the United States to Canada, can contact us.
In other words, our target market is the whole of the United States of America and below is a list of the people and organizations that we have plans to do business with;
- Merchants ( importers, exporters, traders, suppliers, wholesalers, and dealers )
- Manufacturers
- Construction companies
- Corporate organizations
- Small business owners
- The timber industry
- Oil and gas sector
Our competitive advantage
Our major competitive advantage is the vast industry experience and solid reputation of our owner, Terry Granville. Terry Granville Truck Service Inc. no doubt is a new trucking company, which is why we took our time to do a thorough homework before launching the business.
We were able to highlight some factors that will give us competitive advantage in the marketplace; some of the factors are trust, honesty, good network and excellent relationship management strong management, strong fleet operations, direct access to all Atlantic and Gulf Coast ports, our transportation network serves some of the largest population centers in the U.S., our size advantages, cost advantages, supply chain, customer loyalty and strong reputation amongst domestic industry players.
Another competitive advantage that we are bringing to the industry is the fact that we have designed our business in such a way that we can comfortably work with both individuals who may want to make use of small trucks to transport goods within the city and also big conglomerates who are involved in massive movements of goods and equipment from one part of the U.S. to another part.
Lastly, our employees will be well taken care of, and their welfare package will be amongst the best in the industry meaning that they will be more than willing to build the business with us and help deliver our set goals and achieve all our objectives.
9. SALES AND MARKETING STRATEGY
- Sources of Income
Terry Granville Truck Service Inc. will ensure that we leverage on our strength and the opportunities available to us in the U.S. market to generate enough income that will help us drive the business to stability. We will go all the way to explore every available sources of income in the trucking industry. Below are the sources we intend exploring to generate income for Terry Granville Truck Service Inc.;
- Movement of timbers
10. Sales Forecast
We are well positioned to take on the available market in the U.S. and we are quite optimistic that we will meet out set target of generating enough income / profits from the first month or operations and grow the business and clientele beyond South Dakota to other states in the U.S. and Canada
We have been able to critically examine the trucking industry and we have analyzed our chances in the industry and we have been able to come up with the following sales forecast. The sales projection is based on information gathered on the field and some assumptions that are peculiar to startups in the United States of America.
Below is the sales projection for Terry Granville Truck Service Inc., it is based on the location of our trucking business and our competitive advantage;
- First Fiscal Year-: $300,000
- Second Fiscal Year-: $900,000
- Third Fiscal Year-: $1,500,000
N.B : This projection is done based on what is obtainable in the industry and the nature of services that we will be offering.
- Marketing Strategy and Sales Strategy
Networking is an effective way to begin building your client base and we have plans in place to leverage on all our networks. In view of that, we will look out for gatherings where we can network with captain of industries, entrepreneurs, manufacturers and merchant et al.
As a matter of fact, our first port of call will be to connect with the nearest Chamber of Commerce; we are likely going to get our first major deal from them.
At Terry Granville Truck Service Inc. all our employees will be directly or indirectly involved in sales and marketing. We will create provision for our employees to earn commission when they bring in business for the organization. We will also encourage freelancers to work with us; whenever they refer clients to us to will earn a percentage of the deal.
Lastly, we will leverage on the power of the media by advertising our services using both online and offline platforms. We will work hard to ensure that get repeated business from any business deal we execute and also we will encourage our customers to help us refer their friends to us. Part of our strategy is to reward loyal customers and to leverage on word of mouth marketing from satisfied customers.
Over and above, we have perfected strategies to network with people who are likely to refer business our way. In summary, Terry Granville Truck Service Inc. will adopt the following sales and marketing strategies in sourcing for clients for our business;
- Introduce our business by sending introductory letters alongside our brochure to stake holders in the construction industry, manufacturing industry, oil and gas industry, timber merchant et al.
- Promptness in bidding for contracts
- Advertise our business in haulage magazines, newspapers, TV stations, and radio stations et al
- List our business on yellow pages
- Attend expos, seminars, and business fairs et al
- Create different packages for different category of clients in order to work with their budgets and still deliver quality services
- Leverage on the internet to promote our business
- Direct marketing
- Word of mouth (referral marketing)
11. Publicity and Advertising Strategy
Any business that wants to grow beyond the corner of the street they are operating must be ready and willing to utilize every available means ( conventional and non – conventional means ) to advertise and promote the business. We intend growing our business beyond South Dakota which is why we have perfected plans to build our brand via every available means.
Below are the platforms Terry Granville Truck Service Inc. intend leveraging on to promote and advertise her trucking business;
- Place adverts on both print and electronic media platforms
- Sponsor relevant TV shows
- Maximize our company’s website to promote our business
- Leverage on the internet and social media platforms like; Instagram, Facebook ,Twitter, LinkedIn, Badoo, Google+ and other platforms (real estate online forums) to promote our business and list our properties for sale and for lease.
- Install our Bill Boards on strategic locations
- Distribute our fliers and handbills in targeted areas from time to time
- Attend chambers of commerce meetings with the aim of networking and introducing our business.
12. Our Pricing Strategy
Terry Granville Truck Service Inc. has a lease arrangement with various companies and the company’s pricing is based on miles per thousands of tons of cargo transported. We have perfected our plans to charge competitive rates since we have minimal overhead compared to our competition in the industry.
We will ensure that we leverage on price to win over customers; our prices will be affordable and negotiable. The fact that our business door is open to both individuals and corporations means that we will have different price range for different category of clients. As the business grow, we will continue to review our pricing system to accommodate a wide range of clientele.
- Payment Options
Our payment policy will be inclusive because we are quite aware that different people prefer different payment options as it suits them but at the same time, we will not accept payment by cash because of the volume of cash that will be involved in most of our transactions. Here are the payment options that Terry Granville Truck Service Inc. will make available to her clients;
- Payment by via bank transfer
- Payment via online bank transfer
- Payment via check
- Payment via bank draft
In view of the above, we have chosen banking platforms that will enable our clients pay us without any difficulty. Our bank account numbers will be made available on our website and promotional materials to clients who may want to deposit cash.
13. Startup Expenditure (Budget)
- The Total Fee for incorporating the Business in South Dakota – $750 .
- The budget for Liability insurance, permits and license – $2,500
- The Amount needed to acquire a suitable Office facility with enough parking space for our trucks in South Dakota for 6 months (Re – Construction of the facility inclusive) – $40,000 .
- The amount required to finance the purchase of the first set of trucks – $800,000
- The Cost for equipping the office (computers, printers, fax machines, furniture, telephones, filing cabins, safety gadgets and electronics et al): $5,000
- Cost of accounting software, CRM software and Payroll Software – $3,000
- Other start-up expenses including stationery – $1000
- Phone and Utilities (gas, sewer, water and electric) deposits – ($3,500 ).
- Operational cost for the first 3 months (salaries of employees, payments of bills et al) – $40,000
- The Cost of Launching our official Website: $600
- Additional Expenditure (Business cards, Signage, Adverts and Promotions et al): $2,500
Going by the report from our market research and feasibility studies , we will need about $1M to set up a trucking business in South Dakota.
Generating Funding / Startup Capital for Terry Granville Truck Service Inc
Terry Granville Truck Service Inc. is set to start as a private business that will be solely owned by Mr. Terry Granville and family. He will be the sole financial of the company but may likely welcome other business partners when need for expansion arises. These are the areas we intend generating our start – up capital for our business;
- Generate part of the start – up capital from personal savings
- Source for soft loans from family members and friends
- Apply for loan from my Bank
N.B: We have been able to generate about $200,000 (Personal savings – $150,000 and soft loan from family members – $50,000) and we are at the final stages of obtaining a loan facility of $800,000 from our bank. All the papers and document has been signed and submitted.
14. Sustainability and Expansion Strategy
Terry Granville Truck Service Inc. is a business that was established with the aim of covering the whole of the United States of America and Canada, we have invested a whole lot of money in the business and we would not want to see our investment go down the drain which is why we hired a core professional to help us put strategies and structure in place that will keep the business growing.
Part of the sustainability and expansion strategy that we have adopted is the continuous training and empowerment of our workforce (both full-time staff and freelancers working for us) so as to provide them with the capacity to perform effectively in the highly competitive trucking / haulage industry in the United States of America.
In other to be in business for a long time, we will not in any way comprise our integrity and trust and we will continue to surpass the expectation of our customers.
Check List / Milestone
- Business Name Availability Check: Completed
- Business Incorporation: Completed
- Opening of Corporate Bank Accounts various banks in the United States: Completed
- Opening Online Payment Platforms: Completed
- Application and Obtaining Tax Payer’s ID: In Progress
- Application for business license and permit: Completed
- Purchase of All form of Insurance for the Business: Completed
- Acquiring of trucks and relevant equipment: In progress
- Renting of Office Facility in South Dakota: Completed
- Conducting Feasibility Studies: Completed
- Start – up Capital Generation: Completed
- writing of business plan: Completed
- Drafting of Employee’s Handbook: Completed
- Drafting of Contract Documents: In Progress
- Design of The Company’s Logo: Completed
- Graphic Designs and Printing of Packaging Marketing / Promotional Materials: Completed
- Recruitment of employees and drivers: In Progress
- Purchase of the Needed furniture, office equipment, electronic appliances and facility facelift: In progress
- Creating Official Website for the Company: In Progress
- Creating Awareness for the business (Business PR): In Progress
- Health and Safety and Fire Safety Arrangement: In Progress
- Establishing business relationship with key players in the industry (networking and membership of relevant organizations and chambers of commerce): Completed
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Trucking Business Plan
Trucking transport makes about 70 percent of all freight needs in the US. It means more than $700 billion worth of goods are transported through trucking annually. It sounds like an excellent time to start your own trucking business.
But there are challenges that you have to tackle if you are serious about pursuing this path.
There are driver shortages, increasing freight rates, and rising demand for freight services. Thus, developing a trucking business plan is extremely important before diving into this industry.
Like any other business endeavor, you have to make a truck transport business plan for your semi trucking or trucker company. This plan should incorporate all the details you need to start, the operation phase, and how you can sustain it. Likewise, starting and running a business like this will require funding.
Are you ready to start your plan?
To help you, we have a comprehensive guide on creating a trucking business plan so you can start and succeed in your trucking business .
Why Do I Need a Trucking Business Plan?
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When starting a trucking company, a business plan is essential for financing. Besides the financial aspect, a comprehensive truck driving business plan provides a critical guide to all the steps you need to take when starting your trucking company.
Steps to Take Before Writing a Business Plan
Before you create a truck business plan, you need to take a few important steps:
- Register your trucking company: There are several ways to register your trucking business, including a sole proprietorship, an LLC, a C Corp, or an S Corp
- Get an employer identification number (EIN) from the IRS : You can apply to get your EIN online
- Apply for a motor vehicle carrier number (MC)
- File a BOC-3 with the Federal Motor Carrier Safety Administration
- Get the apportioned plates
- Set up an International Registration Plan
- Set up an International Fuel Tax Agreement (IFTA)
- Get a Unified Carrier Registration
- Get truck insurance : You can talk to an experienced insurance representative to create a policy according to your specific needs.
If you have questions or want to check the current prices, you can contact us today and get all the information you need fast and free!
Steps to Create a Trucking Business Plan
A business plan for a trucking company is a document that includes your financial goals and explains in detail how you plan to achieve them. Here is what a trucking business plan should include:
Create an Executive Summary
This is the first step to creating a business plan for a transportation company. It should include a mission statement of your trucking business, a short description of your services, and a detailed summary of your financial growth plans.
Write a Company Description
A trucking company description should include the following information:
- Business registered name
- Business location
- Most important people in your team
- Business structure (sole proprietorship, partnership, or corporation)
Perform a Business Financial Analysis
If you already have a business, you will probably want to include income statements, balance sheets with your assets and debts, and cash flow statements that show how much money comes into and goes out of your trucking company. You can use charts and graphs to make this section readable and easy to understand.
Business Goals
This very important section explains what you want to achieve long-term and short-term. Business goals can be helpful if you are looking for a business loan as it explains why you need the funds and how this financing can help you grow your business further.
Products and Services Description
In this section, you should describe in detail the products and services you plan to offer. Try to explain how your products work, how much you plan to charge for them, who is your target group and what are your sales and distribution strategies.
Marketing and Sales Plan
Describe how you plan to advertise your services to your target market. In this section, you should also focus on how you will develop customer loyalty.
Write Financial Projections
If you seek investors, this is one of the most important steps in preparing your trucking business plan. This section summarizes how your trucking business will create enough profit to repay the loans or how you plan to return the investments. Include monthly or quarterly sales, expenses, and profit estimates for at least three years. Finally, it would be best if you were as accurate as possible, so make sure you carefully analyze your numbers.
Create Appendix
The appendix lists any additional information or materials you couldn’t fit anywhere else, for example, key employees’ resumes, licenses, permits, patents, receipts, bank statements, and personal and business credit history.
Read more: How much does it cost to start a trucking company?
The most common mistakes people make when creating a business plan for a trucking company.
- Misspellings : Don’t hurry when creating a trucking business plan. Remember that everything must be written correctly, including the business name, address, and EIN.
- Ignoring the business basics: Remember, you are the boss now. That means that your trucking business plan should include detailed information about how you plan to start and develop your business from scratch.
- Wanting too much: If you are looking to be a dispatcher, a carrier, and a brokerage at once, you might be taking on too many responsibilities at once. A trucking business plan that includes too much information can become confusing and ineffective. Companies that build slowly have a bigger chance to succeed, so focus on fewer things to accomplish in the beginning.
Trucking Business Plan Examples
Creating business plans for trucking companies can be confusing, but it’s not that hard when you have all the necessary information. Here is a useful example of a trucking business plan you can use when starting a trucking company:
Download Your Free Trucking Business Plan Template
Read more: the 10 best trucking companies to work for, trucking business plan faq, what is the target market for trucking.
While each trucking company has specific services, they offer to different target groups. Typically, when writing a trucking business plan, you can focus on three target markets:
- Companies that need your freight
- Delivery services
Is Starting a Trucking Company a Good Idea?
Starting a trucking company is always a lucrative business. The trucking industry is one of the most profitable sectors in the US because of the country’s robust infrastructure of major roads and highways. This makes trucking the best option for freight transportation, regardless of the current situation in the economy.
How Do I Make My Trucking Company Successful?
Although the trucking business is profitable, it can also be very competitive. Therefore, knowing how to run and grow a trucking company is crucial. Here are a few ways to make your trucking business successful:
- Support the right target market
- Determine the right rates (per mile)
- Determine your business costs
- Work directly with shippers
- Avoid cash flow problems
How Long Should My Trucking Company Business Plan Be?
While there are no general rules regarding how long your semi truck business plan should be, one of the best options is to keep it between 30 and 50 pages.
Will I Have to Attach Expenses and Budgets to My Trucking Company Business Plan?
Yes. This information should be included in the Appendix section of your trucking business plan.
How Much Does It Cost to Start a Trucking Company?
The initial costs for starting a trucking company are around $6000 to $15000. This conservative estimate does not include the equipment that you will use. The start-up costs will cover the registration and documentation requirements. This will be around $900 to $1500, while each plate for your trucks can range from $500 to $3000.
You will also need permits and tax payments for Heavy Vehicle use which can go up to $600 per truck. There may also be state-specific tax applied to your vehicles. On average, this costs about $500.
In terms of start-up costs, it is favorable for smaller operators who can start quickly using a low investment. Large-scale trucking businesses may need millions in capital to start running. So if you want, you can start with a single unit. This will trim down your capital to a manageable level until you start earning.
Fixed and Variable Costs
Typically, start-up business costs are separated into fixed and variable costs. When you tag them as fixed costs in your business plan, it includes the prices of your truck unit, yearly permits, insurance costs, taxes, and regular maintenance expenses. Variable expenses, on the other hand, pertain to repair costs, fines, and fuel costs. On average, these variables will cover about 60 to 70 percent of your operating costs.
US DOT Number and Business Registration
Another essential you must prepare for when you want to know how to start a trucking company is to get a US DOT number. This can cost around $300. Likewise, business registration costs for new business owners can range around $500. It can vary from one state to another.
UCR or the Unified Carrier Registration is another expense you must foresee when you want to start a trucking business. For two vehicles, the cost is around $69, but for three to five, it is $206. You may visit their website to know more about registration fees and requirements.
Buying Equipment
In terms of buying equipment, carefully choose units in excellent condition. Even if you pay a premium for them, it will entail lower maintenance costs in the long run. Its maintenance record should be mint and accurate if you need to acquire used units. Second-hand but road-worthy units may also give you the advantage of lower yearly insurance, thus giving you more for your new business plan.
Ideally, rigs should be around five years or younger with less than 600,000 miles on record. If it has better specs, it will give you more or less 10 years of worry-free operations sans costly repair expenses.
Trucks for such a business can cost around $15,000 to $75,000. You may also need to pay the downpayment for each unit, depending on the vehicle you choose. All of these should be considered when preparing your financial projections once you write a business plan for your trucking company.
Commercial truck insurance is one of a trucking business plan’s most important fixed expenditures. There are several considerations to come up with total coverage. One main aspect to consider is the age of the equipment, its location, and the commodities that need hauling. Insurance companies will consider all of these when calculating your insurance premiums.
Depending on the equipment or trucks’ condition, the cost of premiums for your annual insurance is around $10,000 for each. The figures can change depending on the type of coverage, year and condition of vehicle, model, make, and the experience of your drivers. Ideally, you can get an FMCSA-compliant logging device to reduce the cost of your premiums.
Read more: Tax deductions for truck drivers
What is the easiest way to complete my trucking business plan.
Every business requires some form of capital to start operating. You can start a trucking business plan while you are still building up your capital to buy more equipment and expand your small trucking business. Here are some tips for your trucking business plan.
Preparation and Planning Phase
Although it may not involve as much cash, a small trucking company still needs a lot of planning and preparation to ensure it starts on the right foot. The best way to start is through the owner-operator approach. You will have trucks, but you will also be involved in the operations. Some new owners also start as drivers, but if you don’t have industry experience, you have to study and understand all the requirements of running this business. Regardless of the structure you want in your company, it is essential to prepare and plan everything.
Choosing a Plan Format
You can pursue two types of business plans in a trucking business. The traditional format is comprehensive and will involve various details such as company description, executive summary, market analysis, sales strategy, personnel plan, and others. The other one is the lean startup format which is more flexible and requires fewer details than the traditional plan. A startup business plan format may include an executive summary, marketing, financial projections, and others.
Legal Requirements
The FMCSA requires different requirements depending on the type of operations you are interested in engaging in. You will need a CDL if you will be driving your equipment too. Some legal requirements you need to comply with are the US Department of Transportation Number, International Fuel Tax Agreement stickers, International Registration Plan, and Motor Carrier Number.
Funding Your Business
Financial projections are crucial in any business plan, especially in the trucking industry. To start a trucking company’s operations, you may need around $10,000 to $30,000 . It will cover the cost of the vehicle down payments, insurance, and other state-specific compliances.
Even if you do not have enough capital, there are many ways for you to finance your new business. With good credit records, you can find reasonable funding through a bank loan or a home equity credit. You can also use your savings or dispose of some of your properties to build up funding for your new business.
Buying Assets
If funds are available, it is always best to purchase your assets and, ideally, always go for quality when it is for commercial use. A new truck means fewer maintenance expenses, repairs, insurance coverage, and downtime. If you are considering second-hand units, make sure they are well-maintained and come from known manufacturers. This forms part of the executive summary of your business plan, including your plan to grow your business.
Preparing Trucks for the Road
Before you can start freight movements, you must have all the requirements for you to roll out. Ensure you comply with all insurance premium coverage, USDOT numbers, and registrations. There should also be RFID tags on your windshield and your International Registration Plates if you will move across different states. These should be one of the plans you have in your truck owner operator business plans.
Hiring of Drivers
One of the most challenging parts of running a trucking industry is hiring and retaining good drivers. The industry has a high turnover rate, even more, prevalent in small carriers. The best strategies for driver retention should start with an effective recruitment process. Take note of the applicant’s crash data and roadside inspections for the last three to five years. Make sure to plan and focus your offers on the employee’s happiness and fulfillment, not just cash-based incentives. Hiring and keeping good drivers is one of the keys to success in a trucking business.
Growing a Client Base
For your truckers company to grow, you need a steady stream of clients, not just long-term ones. Make sure that one client will not cover more than 20 percent of your revenue. Thus, keep at least five clients for a constant supply of transporting jobs. Attract more clients using a website, social media presence, or online freight boards. Marketing is a crucial part of growing your business. Make sure to have a business plan for marketing your services and your trucking company.
Use the Right Tools
Fortunately for new owner-operators today, there are now apps and tools that will help you increase productivity and run your company successfully, such as the Electronic Logging Device. Modern ELDs also have better fleet management features such as idle time tracking, IFTA calculations, and vehicle diagnostics. It is also easier to develop a business plan for a logistics company, including all the marketing and social media exposure with the help of innovative tools.
Conclusions
The US trucking business remains one of the most challenging yet rewarding ventures that interested owner-operators can explore. If you do the right research, plan, and prepare appropriately, you can boost your operations, marketing, and funding and make your company run smoothly.
Are you still confused about trucking business plans and insurance? Or do you want an insurance quote on your future trucking business? Contact us today and get all the information you need fast and for free!
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Trucking Company Business Plan Sample
Dec.10, 2013
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Table of Content
Trucking company business plan for starting your own business
The trucking industry plays a vital role in the world’s economy; they provide essential services to the U.S. economy by transporting large quantities of raw materials, machines, equipment, dirt, rocks, building materials, and finished goods.
The trucking industry is responsible for most of the freight movement over land. It is a significant stakeholder in the U.S. manufacturing, transportation, and warehousing industries. If you are interested in working in this industry, you should go over multiple business plans for trucking company to get a head start. The completed business plan for dump trucks is what you need first to establish your business.
If you don’t know how to write a business plan for a trucking company, hiring business plan writing services will be a good option.
Executive Summary
Arrow Transports is a trucking company that will be based in South Dakota. Our business plan trucking company will provide daily freight service on one skid and full truckloads to and from South Dakota, North Dakota, and Southern Illinois.
We will also provide cross-docking, warehousing, liftgate, and specialized van service in South Dakota. Arrow Transport uses a comprehensive business plan for trucking company which can provide an excellent direction to those who are confused about how to write a business plan for a trucking business.
2.1 The Business
Arrow Transports has secured all relevant licenses and permits to operate throughout the United States. We will ensure that we abide by the rules and regulations of the trucking industry. We will only hire experienced and qualified drivers with valid commercial driver’s licenses (CDL).
2.2 Management of trucking business
The organization of the trucking business is linear. The trucker decides to load, and the person at home pays the bills. The spare driver gets paid for the loads they haul. If you want to manage your trucking business operations in another way, you will be needed to devise a proper plan.
When this organization is done in l ogistics business plans , it’s easier to start the operations.
2.3 Customers of trucking business
Regardless of whether you are following a business plan for taxi or thinking of a trucking business, you must know who your audience is. Arrow Transports, after analyzing multiple strategic business plans , will cater to the following customers as its target audience:
- Raw Material Suppliers
- Manufacturers
- Wholesalers
2.4 Business Target
As per this business plan trucking, Arrow transports’ target will acquire the largest market share in the industry within the next 7 years, and maintain its position as a market leader.
Company Summary
3.1 company owner.
Adam Porter will finance his company through his savings, and he will be the founding chief operating officer of the company. Adam has certification in Logistics Management and has over five years of experience in the transportation industry. He got his trucking business proposal approved beforehand to implement his ideas.
3.2 Why the trucking business is being started
No doubt, starting and operating a trucking business can be challenging, but the truth is that it can be rewarding at the same time. One of the perks of the industry is that it has opportunities for both, established investors and new entrepreneurs. The business environment is quite friendly. Keeping in view these factors and the resources and experience Adam had, he decided to step into this business.
3.3 How the trucking will be started
This business plan template for trucking gives you an overview of the steps needed to set up a trucking business.
Step1: Get experience and knowledge
First, you’ll need to obtain a commercial driver’s license (CDL). You can attend a private truck driving school or seminars of some trucking companies. At times, people who serve as company drivers for a few years eventually become entrepreneurs.
Adam will be starting his business after serving as a driver for five years and going through numerous sample business plans for trucking company.
Step2: Write your business plan
Before you start your business, make sure you have a business plan . It should clearly show what your revenue and expenses will be. You may want to hire a business advisor to help you determine the plan that makes the most sense for you. Or you may critically analyze this free business plan for a trucking company.
Step3: Save money to cover startup expenses
Starting a trucking business requires a significant upfront investment as you will be purchasing expensive tractors and trailers. Setting up the arena and meeting licensing and registration requirements will also cost you a lot. To manage these expenses, you must come into this business after amassing a good amount.
Step4: Obtain Insurance
Insurance is a significant expense for trucking businesses. Types of insurance required for transporting freight include primary liability and physical damage. As per this free sample trucking business plan, nearly $750k in primary liability coverage is required to cover damages or probable injuries.
Step5: Plan your business operations
Plan out each aspect of your business, and decide the factors to manage operations like:
- Where will you park the trucks?
- How frequently will you get them maintained?
- How will you find loads?
- How will invoicing, payroll, and taxes be handled within your resources?
Services of trucking company business
Different trucking businesses offer different types of freight services. Before starting a trucking company business plan , you must narrow down the services you want to provide. As per this trucking company business plan sample, Arrow Transports will be delivering the following services:
- Moving supplies
Moving supplies may seem difficult from one destination to another and requires strategic planning. However, business plan for trucking business acquired by Arrow Transports makes everything easier. The company will help you pack all your supplies with labels and deliver them hassle-free to your destination.
- Heavy-duty equipment movement
Not all business plans for trucking companies deal with the movement of heavy-duty equipment. But still, this service is much used. Arrow Transports will partner with different industrial clients to move their machinery from one place to another.
- Quilt Wrapping for furniture
Blanket wrapping is a service where transporters wrap unpacked freight in blankets before securing them in a truck. This is a fantastic way for suppliers to transport their sensitive cargo across states.
- On-time pickup and delivery
Whenever it is about home shifting or new furniture procuring, the trucking business comes to the front again. After analyzing multiple business plans for trucking company, Arrow Transports decided to use provide quick pickup and delivery options to its customers.
Marketing Analysis of trucking company business
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excellent work, competent advice. Alex is very friendly, great communication. 100% I recommend CGS capital. Thank you so much for your hard work!
You must understand the market’s ins and outs before starting a trucking company business plan . It will give you an idea of how the existing companies in the industry are operating and what is something you could offer as a value-added service. You may read this trucking company business plan template to get an overview of the current market trends.
5.1 Market Trends
Trucking is responsible for most of the overland freight movement in the United States. In 2020, according to Statista, the market was worth $732.3 billion. The industry was responsible for employing more than 902k truck drivers in the U.S., which is still less than the industry requires. Hence, there’s a lot of potential for startups in the trucking industry. If you launch this business with a proper plan and strategy, you cannot be at loss.
5.2 Marketing Segmentation
It is crucial to identify your target market before launching your services. This helps you understand what exactly your customers are looking for, and then you can customize your services according to their needs. Every <sample> sample trucking company business plan identifies different customer groups. In this trucking company business plan example, Arrow Transports specifies the following as its potential customers:
Business plan for investors
5.2.1 raw material suppliers.
Raw Material Suppliers ship large quantities of materials to large manufacturers. The products are often in bulk and they do not require refrigeration or temperature control. Raw material suppliers will be recurring customers of this sample business plan for a trucking company for Arrow Transports.
5.2.2 Manufactures
Manufacturers often outsource the distribution of their products to trucking businesses so that they don’t have to focus on entirely diverse areas. Usually, the destination to which their packaged goods are shipped remains the same. Therefore, they are expected to come into contact with us as a regular trade partner.
5.2.3 Wholesalers
Wholesalers that serve large retailers procure truckloads of goods from the manufacturing units. They are expected to come into long-term agreements with us for both taking the freight to and from them.
5.2.4 Retailers
Retailers with several franchises require trucks for the transportation of goods from one place to another. Arrow Transports expects to sign contracts with retailers citywide.
While customer groups for your startup may vary as per your location and services, they are likely to lie within the same groups given above. After knowing your customers, you can easily get developed a compelling sales strategy. Moreover, you can set the prices and targets accordingly.
You can download this startup trucking company business plan to get an idea of how to write a business plan for a trucking company.
5.3 Business Target
Our monetary business goals and customer-centric targets are listed below.
- Meet the highest quality shipping standards.
- Hire the most competent drivers, warehouse personnel, and support staff.
- Gain a competitive edge in shipping rates within 2 years of business operations.
- Hold 20% of the market shares within 10 years of the launch.
- Ensure transportation safety through compliance with Occupational Safety and Health Administration.
5.4 Product Pricing
Arrow Transports has a lease arrangement with various companies , and the company’s pricing is based on miles per thousands of tons of cargo transported. We plan on charging competitive rates since we have low overhead costs compared to our competitors in the industry.
Developing a marketing strategic business plan for transport is an ideal way to conduct marketing analysis and get an overview of the industry.
Marketing Strategy of trucking business
Networking is an effective way to build your client base, and we have plans to leverage all our contacts for that. As per this small trucking company business plan, Arrow Transports will look out for gatherings where we can network with the captain of industries, entrepreneurs, manufacturers, and merchants.
6.1 Competitive Analysis
- As per this business plan template trucking company , we will offer high-value discounts to our customers to ensure that they get quality services while being on a budget.
- Arrow Transports will charge no premium costs for special requests such as same-day delivery from new customers.
- Customers can have insights into our compliance with the quality standards by visiting us and inquiring about us at any time.
- We will have open communication channels with our clients through a two-way feedback system.
6.2 Sales Strategy
When you write a startup trucking company business plan, you must include the sales strategies you use.
- Create awareness about our services and competitive advantages by sending introductory letters to stakeholders in the construction industry, oil and gas industry, manufacturing industry, and timber merchants.
- Create customized packages for different categories of clients in accordance with their budgets.
- Establish effective referral systems.
- Advertise us in magazines and newsletters.
6.3 Sales Monthly
6.4 sales yearly, 6.5 sales forecast, personnel plan of trucking company business.
We intend to start the business with a limited number of full-time employees. Adequate provision and competitive packages have been prepared for all our employees. Costs associated with salaries are mentioned in the startup trucking company business plan .
7.1 Company Staff
Under this free business plan template for trucking company, the following staff will be hired:
- 7 Administrative Staff Members
- 5 Commercial Drivers
- 2 Marketing Analysts
- 1 Mechanical Engineer
7.2 Average Salary of Employees
Financial plan of trucking company business.
Arrow Transports is set to start as a private business that Mr. Adam Porter and his family will solely own. He will be the sole financial of the company but may likely welcome other business partners when the need for expansion arises. The economic forecasts for the business for the next three years are like that of a towing business plan template .
As per this trucking companies business plan, these are the areas through which Adam gathered capital.
- Generate part of the startup capital from personal savings.
- Acquire soft loans from family members and friends.
- Apply for a loan from the bank.
- Request investment when the service area needs to be expanded.
You may read multiple business plans trucking to see how different financial models work. Your business plan transportation logistics will primarily depend on the availability of funds.
8.1 Important Assumptions
8.2 break-even analysis, 8.3 projected profit and loss, 8.3.1 profit monthly, 8.3.2 profit yearly, 8.3.3 gross margin monthly, 8.3.4 gross margin yearly, 8.4 projected cash flow, 8.5 projected balance sheet, 8.6 business ratios.
- Where can I download a trucking business plan PDF?
You can find trucking company business plans over the internet for free. Or you could hire a writing expert to write you a business plan for trucking as per your business model.
- What is a trucking business plan?
A trucking business plan provides a snapshot of your trucking business as it stands today and lays out your growth plan for the next five years. It explains your business goals and your strategy for reaching them.
- How do I start a trucking business plan?
To start planning your business in the transportation industry, begin by determining the scope of your trucking company. Once you choose the scope of your own trucking business, you will have to conduct thorough market research and competitive analysis. Then, you need to document the details in a precise way as can be seen in this sample.
Download Trucking Business Plan Sample in PDF
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Red states sue Biden, California over climate rules for trucks
By Lesley Clark | 05/14/2024 06:53 AM EDT
Republican state attorneys general say that neither the federal government nor the Golden State has the authority to transform the auto industry.
Clean and electric trucks sit on display at an EPA event in 2022. Anna Moneymaker/Getty Images
Republican-led states are challenging efforts by the Biden administration and California to cut tailpipe emissions from heavy duty trucks.
Twenty-four states on Monday asked the U.S. Court of Appeals for the District of Columbia Circuit to toss out EPA’s new climate regulation , and a separate coalition of 17 states and the Nebraska Trucking Association filed suit in federal court in California to block state regulations targeting trucking fleet owners and operators.
Oklahoma Attorney General Gentner Drummond said that the EPA rule “would force massive costs on commercial trucking that, in turn, will be passed on to consumers in the form of higher prices on anything and everything.”
The rule, which sets greenhouse gas emissions standards for heavy-duty vehicles, would “upend the free market system by forcing companies to purchase electric trucks they clearly do not want,” Drummond said. “The resulting blow to the economy would be tremendous.”
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Norfolk Southern Investors Reject Plan to Oust Its Management
An activist investment firm failed to replace the railroad’s top executive and all its directors, but did win three seats on its board.
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By Peter Eavis
Shareholders of Norfolk Southern, the beleaguered freight railroad, on Thursday voted down an attempt by an activist investment firm to remove the company’s chief executive and take control of its board.
But the activist, Ancora, a Cleveland firm, managed to secure a foothold at the company, after shareholders voted to place three of its directors onto Norfolk Southern’s 13-member board. Ancora had hoped to take control of the company’s leadership with an aim to cut costs and increase Norfolk Southern’s profits and stock price.
The result is a partial victory for Norfolk Southern’s executives, who had to defend themselves against criticisms of the company’s safety record and its lackluster financial performance. A company train carrying hazardous chemicals derailed last year in East Palestine, Ohio, forcing residents to evacuate.
The results of the shareholder vote, which were preliminary, were announced Thursday morning at a virtual company annual meeting.
During the meeting, Alan Shaw, Norfolk Southern’s chief executive, said he looked forward to working with the new directors.
“Norfolk Southern persevered through several challenges over the last year,” he said. “We have met every challenge and never lost sight of where we are taking our powerful franchise.”
Over several weeks, Norfolk Southern and Ancora fought for shareholder support in a battle of bitter statements filled with railway minutiae.
Ancora argued that Norfolk Southern had lost its way and needed to deploy a set of practices aimed at constraining expenses and simplifying its 19,100-mile rail network. In response, Norfolk Southern said its financial performance was improving, and contended that it was building a railroad that would better weather economic ups and downs. During the coronavirus pandemic, freight railroads pared back so much that they struggled to meet customer demand when the economy rebounded.
The Ancora directors elected to the board are William Clyburn Jr., a former rail regulator, and Sameh Fahmy and Gilbert Lamphere, former railroad executives. Amy E. Miles, the chairwoman of the board and a Norfolk Southern nominee, was not re-elected.
In a statement, Frederick D. DiSanto, chief executive of Ancora, and James Chadwick, president of Ancora Alternatives, said they would “continue to hold Mr. Shaw to account and push for the appointment of a qualified operator.” Ancora held a 0.16 percent stake in Norfolk Southern at the end of 2023, according to securities filings.
Norfolk Southern’s stock dropped 2.5 percent on Thursday. The final certified tally of the votes will be released next week, a Norfolk Southern spokesman said.
Ancora’s campaign ignited a debate over how freight railroads should be run. The investment firm preached the virtues of precision scheduled railroading, the term given to practices aimed at making railroads more profitable. In the past two decades, that approach has reduced costs and made railroads more efficient. Norfolk Southern has introduced elements of precision scheduled railroading.
But critics of the efficiency drive say it can cut too much rail capacity, making freight railroads unreliable for customers. They point to the performance of CSX, a rival of Norfolk Southern, which introduced precision scheduled railroading in 2017.
Speaking before the vote, Martin J. Oberman, the departing chairman of the Surface Transportation Board, the federal agency that oversees freight railways, said Ancora’s cuts might have left Norfolk Southern without the capacity to deal with an upswing in demand and unexpected disruptions.
Ancora had said it would carry out its proposed overhaul over three years to ensure that it was done well.
Norfolk Southern essentially acknowledged before the vote that it needed to keep becoming more efficient by appointing a chief operating officer in March with a strong reputation in the industry.
The company has not, however, given up on a plan that rests on finding new revenue — in part by winning business from trucking companies — and having enough rail capacity and employees available to quickly respond to increases in demand.
But Norfolk Southern must now show investors that it can make more money under its approach.
Sympathetic rail analysts said Norfolk Southern’s leaders might have struggled to achieve their financial goals because the East Palestine accident, which occurred in February 2023, temporarily hampered the railway’s operations and distracted management.
Norfolk Southern is still under investigation by several federal and state agencies, including the National Transportation Safety Board, which is expected next month to release its final report on the derailment.
Tony Hatch, a longtime rail analyst who supports Mr. Shaw’s approach, said the vote gave management a respite. But he added: “They will be under watch. This is not a free pass. This could happen again.”
Peter Eavis reports on the business of moving stuff around the world. More about Peter Eavis
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Are small- and mid-sized companies primed to outperform?
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Key takeaways
Lower interest rates.
Lower financing costs and loosening credit availability can help level the playing field between small- and large-cap stocks.
Active management benefits
Smaller caps are often under researched. Also, a selective approach helps find overlooked opportunities and manage risks.
Investment opportunities
Our portfolio managers see potential opportunities in technology, biotechnology, US housing, trucking, and industrials.
The stage could be a set for a recovery in small- and mid-cap stocks. Why? If interest rates have peaked and a pattern of lower interest rates emerges over the next few years, it should bode well for small-cap stocks. Lower interest rates can lower financing costs and loosen up the availability of credit, which can help level the playing field between small- and larger-capitalization stocks.
This potential backdrop should help claw back some of small- and mid-cap underperformance relative to large caps, according to our small- and mid-cap experts, Jonathan Edwards, Senior Portfolio Manager, Invesco Value Opportunities Fund, Justin Livengood, Senior Portfolio Manager, Invesco Discovery Mid Cap Growth Fund, and Matthew Ziehl, Portfolio Manager, Invesco Main Street Small Cap Fund. They share their outlooks and the opportunities in this market segment.
Uncovering opportunities and managing risk through active management
Jonathan Edwards, Invesco Value Opportunities Fund: Excellent investment opportunities are abundant for active managers in the small- and mid-cap universe, in our view. Many of these stocks are under researched relative to larger-cap stocks. We see significant dispersion in valuation opportunities and business quality. For example, some companies have lower valuations because their earnings are temporarily depressed during the bottom of a business cycle. Or they may look overvalued on a price-to-earnings basis but look more attractive on a go-forward basis as earnings inflect higher. Furthermore, we feel we can diversify across sectors compared to a passive approach, which tends to be concentrated in certain sectors such as financials (particularly banks) and REITs.
Justin Livengood , Invesco Discovery Mid Cap Growth Fund: We’re very excited about the innovation economy that’s impacting industries across sectors. The small- and mid-cap growth universe is where the majority of these companies reside, in our view. Given the riskier nature of these smaller-sized, high growth companies, however, we believe active management can identify a select number of the best opportunities. We also seek to better manage the inherent risks versus a more passive approach.
Matthew Ziehl, Invesco Main Street Small Cap Fund: The elevated risk profile of the smaller-cap universe of stocks, in general, relative to larger caps, makes being selective important. You need active management for that.
We start with a universe of roughly 2,000 companies. (An investor would get exposure to all of those companies from an index fund that tracks the Russell 2000 Index). We then narrow it down to a portfolio of 90-100 companies that we feel have the best management teams, competitive positioning, and reasonable valuation. Improving market share and profitability and navigating within an ecosystem that, in many cases, is dominated by larger companies is key for small-cap companies to create shareholder value over a multi-year period.
The real opportunity for small-cap investing, in our view, comes from our ability as active managers to be extremely selective in finding companies that are well-managed and best-positioned to create value over time.
Small- and mid-cap opportunities they’re most excited about
Jonathan Edwards : Our investment process is designed to take advantage of long-term investment opportunities that arise when investors’ short-term focus and fears cause a company’s stock price to trade at a significant discount to our estimate of its intrinsic value. We’ve recently been finding a lot of opportunities across multiple industries in the technology sector, where many companies have been experiencing subpar financial results in recent quarters due to inventory destocking in their customer base. Most of these companies have solid return on invested capital (ROIC), attractive free cash flows, and exciting growth prospects. Despite this, many investors have sold or neglected these companies’ stocks due to concerns about weak near-term financial results. We take the long-term view and believe our investors will be rewarded when these companies’ financial results return to normalized levels and long-term earnings growth resumes.
Justin Livengood: We focus on premier growth companies that have durable competitive advantages and great management teams. We also look for companies with secular growth characteristics that benefit from emerging trends in the economy.
In our small- and mid-cap portfolios, we’re currently finding a lot of opportunities in the industrials sector. The growth of artificial intelligence (AI) and cloud computing requires substantial investment in our country’s infrastructure (e.g., data centers, electrical grid and power). Many smaller industrial companies are providing services and equipment to enable this buildout.
We also see good investment opportunities in the US housing market as new home construction continues to grow rapidly. We own several homebuilders and suppliers of building products in our portfolios.
Finally, the trucking industry is going through a variety of competitive changes, and we own some of the truckers that are gaining market share. It’s an industry that has become more stable and less cyclical than in the past, which makes it a more compelling investment.
Matthew Ziehl: We’re excited about biotechnology in general, although we remain structurally underweight in the industry. The sector has underperformed during the past few years, but assuming funding for biotechnology companies continues to improve and interest rates decline, it’ll provide a better setup for biotech stocks. Also, most large pharmaceutical companies are flush with cash and need to fill their pipelines. This can create a higher likelihood of potential merger and acquisition activity of biotech companies with exciting new drugs.
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This does not constitute a recommendation of any investment strategy or product for a particular investor. Investors should consult a financial professional before making investment decisions.
The risks of investing in securities of foreign issuers can include fluctuations in foreign currencies, political and economic instability, and foreign taxation issues.
Russell 2000® Index is an unmanaged index considered representative of small-cap stocks. The Russell 2000 Index is a trademark/service mark of the Frank Russell Co. Russell® is a trademark of the Frank Russell Co.
Russell 1000® Index is an unmanaged index considered representative of large-cap stocks. The Russell 1000 Index is a trademark/service mark of the Frank Russell Co. Russell® is a trademark of the Frank Russell Co.
The price-to-earnings (P/E) ratio measures a stock’s valuation by dividing its share price by its earnings per share.
Return on invested capital (ROIC) is a measure of how efficiently a company is using its capital to generate returns.
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General Motor Freight Trucking Business Plan Template
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Free Download: Sample Trucking Business Plan Template. A business plan will help you determine the startup costs you'll need for staffing, licensing and insurance. An effective business plan will also help you determine the best strategic opportunities for your business through an analysis of market opportunities and challenges. In this guide ...
The breakout of the funding is below: Warehouse build-out: $50,000. Trucks, equipment, and supplies: $20,000. Three months of overhead expenses (payroll, rent, utilities): $180,000. Marketing costs: $30,000. Working capital: $20,000. Easily complete your trucking business plan! Download the trucking business plan template (including a ...
To develop precise projections, consider the following key steps: Estimate startup costs for your trucking business, including vehicle acquisition or leasing, insurance, licenses, and permits. Forecast revenue based on projected client contracts, rates per mile, and anticipated volume of shipments.
Here you go, download our free trucking business plan pdf, and start writing. This intuitive, modern, and investment-ready template is designed specifically for trucking businesses. It includes step-by-step instructions & examples to help in creating your own trucking business plan.
Growthink's Ultimate Trucking Business Plan Template allows you to quickly and easily complete a business plan for a trucking company. Our template includes all the key sections necessary to write a business plan including the executive summary, company description, management team, industry analysis, operations plan, financial plan, and more!
Marketing Plan. Another critical component of this trucking business plan template is the thorough marketing plan development. It'll enable you to pinpoint your target audience and tailor your trucking services to meet their preferences. Additionally, detail how you intend to attract customers and persuade them to choose your trucking business.
The executive summary of a trucking business plan is a one to two page overview of your entire business plan. It should summarize the main points, which will be presented in full in the rest of your business plan. Start with a one-line description of your trucking company. Provide a short summary of the key points in each section of your ...
A financial plan outlines the financial aspects of your trucking business, including cost to start an LLC, other startup costs, revenue projections, expenses and profitability timelines. Detail the initial investment required for fleet acquisition (new trucks can cost upwards of $150,000 ), technology implementation, office setup and marketing ...
The real version of Growthink's Ultimate Trucking Business Plan Template is much more than a fill-in-the-blanks template. That template professionally guides you step-by-step so you can quickly, easily and expertly complete your business plan. Perhaps most importantly, it includes complete financial projections.
Any good business plan for trucking company success needs to include a discussion of the company's finances and its ability to meet fiscal targets. Consider including a profit-loss statement, a sales forecast, a cash flow statement, a balance sheet, a break-even analysis, and financial projections in your trucking business plan. ...
Trucking Business Plan Free Template. This comprehensive guide is designed to help you develop a clear and effective plan for starting or growing your trucking business. Whether you're a seasoned trucking professional or just starting out in the industry, this template will provide you with the basic outline and insights you need to succeed. ...
You'll need to state where you will operate, the number of trucks you will run, and what materials you will be hauling. Apply for a motor vehicle carrier (MC) number here. File a BOC-3 with the Federal Motor Carrier Safety Administration to give you a presence in the states where you will operate. Get truck insurance.
Here are key sections to include when writing a business plan for a trucking company: Executive Summary. This section should provide a short overview of your company and its plans for the future. Include details on your company mission, financial information and performance and growth plans.
A successful trucking business is based on a solid business plan. To help you out, we've designed a business plan template specifically for small business owners. Get your copy today! Download The Template. For help completing your trucking business plan, read our guide.
A Sample Trucking Company Business Plan Template 1. Industry Overview. The trucking industry plays a very important role in the economy of the world; they provide essential services to the united states economy by transporting large quantities of raw materials, machines, equipment, dirt, rocks, building materials, and finished goods over land—typically from manufacturing plants to retail ...
Funding Your Business. Financial projections are crucial in any business plan, especially in the trucking industry. To start a trucking company's operations, you may need around $10,000 to $30,000. It will cover the cost of the vehicle down payments, insurance, and other state-specific compliances.
Our How to Write a Business Plan video series goes over the key points of writing a business plan to help you get a 360-degree picture of your trucking company. Part One: Discover the basics of a trucking company business plan and determine what kind of trucking company you want to own. Part Two: Dive deep into your trucking company's future ...
Arrow Transports is a trucking company that will be based in South Dakota. Our business plan trucking company will provide daily freight service on one skid and full truckloads to and from South Dakota, North Dakota, and Southern Illinois. We will also provide cross-docking, warehousing, liftgate, and specialized van service in South Dakota.
The Trucker News Staff produces engaging Business content for TheTrucker.com, which has served the trucking industry for more than 30 years. With a focus on professional truck drivers, the Trucker News Staff works to provide content that is relevant, objective and engaging pertaining to the trucking segment of the transportation industry.
Biden's plans to electrify trucking face harsh reality in the desert by Mike Lee | 04/30/2024 06:37 AM EDT Heavy-duty hydrogen trucks win out in California's $1.9B EV plan
First quarter consolidated revenue improved 8.3% year-over-year, to $115 millionTruck Transportation segment delivered 15.5% revenue growth over Q1 2023,...
May 14, 2024 - 6:00 am. Einride has partnered with Jebel Ali Port in Dubai as part of its ambitious plan to build the world's largest autonomous trucking network. The Swedish freight mobility ...
May 9, 2024. Shareholders of Norfolk Southern, the beleaguered freight railroad, on Thursday voted down an attempt by an activist investment firm to remove the company's chief executive and take ...
The small- and mid-cap growth universe is where the majority of these companies reside, in our view. Given the riskier nature of these smaller-sized, high growth companies, however, we believe active management can identify a select number of the best opportunities. We also seek to better manage the inherent risks versus a more passive approach.
Follow these tips to quickly develop a working business plan from this sample. 1. Don't worry about finding an exact match. We have over 550 sample business plan templates. So, make sure the plan is a close match, but don't get hung up on the details. Your business is unique and will differ from any example or template you come across.