When you go through the work of going to school to become a commercial truck driver and getting your commercial truck driving license, you likely want to make the most of your new career that you can. Because of this, you may be looking into the possibility of starting your own owner-operator trucking business. Before you jump right in and make the investment in owning and operating your own truck and business, get to know some of the steps that you should take before you get started so that your owner-operator trucking business is as successful as possible.
Get Experience Working For A Company First
If you are fresh out of school and just recently got your commercial truck driver's license, you may want to get yourself some experience driving for a company before you go into business for yourself. The reasons behind this career move is twofold.
You will get on-the-job experience as far as factors to consider when on the road, your personal limits for how long you can drive every day and how many jobs you can take before you need several days off in a row, and the ins and outs of the driving and truck maintenance process. Knowing your capabilities and all that will go into maintaining yourself and your truck when you are taking on jobs as an independent contractor will help you a great deal before you are an owner-operator.
The other side of this is that your experience working for a company will make potential clients feel more comfortable entrusting you with transporting their products. Without experience in the field, you may have a more difficult time finding clients.
Be Sure to Price and Get Your Business Licenses and Commercial Truck Insurance
When you have worked in the field for a while, the next step in the process of starting an owner-operator trucking business is to find out the costs of all of the necessary business license and commercial truck insurance that you will need to legally work as an independent commercial truck driver. Each state has different laws and regulations when it comes to owning and operating a business.
You will need to file an application with the secretary of state to become a business entity in your state. Once this application is approved, you can then apply for you employer identification number (EIN) with the IRS, as well as get any permits that you need to run your business.
Of course, you also need to consider the cost of commercial truck insurance for your business and yourself. This insurance can vary in cost depending on your vehicle as well as the state in which you plan to operate your business from.
Now that you know a few of the steps that you need to take to start your own owner-operator trucking business, you can get started in the process as soon as possible.