If you ask about how to start a trucking company without driving, no doubt, it needs a lot of money.
Whether you can afford and provide the needed sum of money from your own.
You may find it in a different way, as many of us have dollars waiting to invest in a proper way.
Most of us may find it difficult to get such large sums of money.
In this article, in case you have the desire to start a trucking company, I will lead you to start a trucking company without driving.
Table of Contents
- 1 Starting a Trucking Company Without Driving
- 2 How to Start a Trucking Company With No Money?
- 3 Grants For Starting a Trucking Company
- 4 10 Steps You Can Take to Start a Trucking Company:
Starting a Trucking Company Without Driving
Trucking is a huge industry in the USA, there are many different ways of starting a trucking company without driving.
The easiest that I always prefer is to buy a tractor, then hire a driver.
You can also lease a truck onto a famous carrier such as JB Hunt Company.
JB Hunt can dispatch a driver for you, don’t worry about things such as freight insurance, trailers, or fuel cards, and many others.
How to Start a Trucking Company With No Money?
How to start a trucking company with no money? It’s a difficult question.
To answer since it always costs a lot of money to set up a trucking company.
I have a surprise for you, I will direct you to the secret way, this is how to start a trucking company with no money?
Searching for the financing option may be difficult to get, as traditional financing may still cost you a lot.
Certain options can allow you to start your trucking company without any pocket costs, here is the key for you.
- A down payment is not required for some loans as well as others allow poor credit.
- Many companies finance truck loans, just need to do a little research and find out your options.
- If you find a good financier, don’t leave him! you may need other funds for different business operations on the road.
These operations include vehicle hiring staff, repairs, and other general expenses.
1. Commercial Truck Loans
If you get a loan from a bank to start a trucking company without driving, it may be the best financing option.
Loans can be got easily from different funding associations, provided that you meet their rules, it’s a proper choice.
Consider carefully the down payment, your monthly payment, and every single detail regarding this aspect to avoid future troubles.
Generally, qualifying for a loan, you need a good credit and work history to proceed on.
2. Consider Renting
Deciding to purchase a truck, you really need a lot of money, instead of this, renting can be a brilliant idea to choose from.
Renting an equipment may be the only thing that you need to get up on your feet.
You will avoid paying a large sum of money that you may not have.
In this choice, you’ll just pay for the equipment you borrow just bit by bit.
Renting equipment can get you in business easier than looking for a proper financial association.
Banks generally hope to see at least a couple of years of operating history before submitting and approving your loan.
3. Lease to Own
If renting doesn’t appeal to you, think of leasing a truck to work on and buy at the same time.
The whole money you specify for the truck, it will completely go toward buying it, and once you finish paying your lease in full.
The truck will soon be yours and you will become the owner of it.
4. Buy a Used Truck
Another good idea you can follow to get a truck, if you have some funds, but they are not enough to buy a new one.
Consider buying a used one and take care the used truck should be in a good state.
Otherwise, it will be the worst decision you take as you will pay more for the maintenance.
Grants For Starting a Trucking Company
If you are looking for grants for start a trucking company, there are many ways.
The SBA’s 8(a) Business Development Program allows business owners to get the opportunity to bid on government contracts.
The federal government awards at least 5 percent of the total contracts applied each year to small businesses.
You may become one of the lucky men to get one of them.
Grants for starting a trucking company is a chance for you to change your life, here are the most famous ones.
FedEx Small Business Grant Contest
FedEx Small Business Grant Contest allows ten finalists to win up to $50,000 to start their own businesses.
Prepare your story and make it more effective to beat out other entries, you may be lucky enough to win.
NASE Growth Grants
National Association for the Self-Employed helps small business owners of different types.
If you look for grants for starting a trucking company, it can be a good choice.
Grants are issued up to $4,000, they can be used for different types of investment.
These include “advertising, marketing, expanding facilities, hiring employees, and other different specific business needs,”.
Veteran-Owned Business Opportunities
Veterans have access to grants, depending on their prior military service.
The Department of Veterans Affairs allows vets with proper loans and grants opportunities to start a trucking company without driving and no money.
You have to meet the essential requirements to qualify, including compliance guidelines, if you have a service-connected disability.
You can qualify for the VR&E Self-Employment Track that offers assistance like creating a business plan.
USDA Rural Business Enterprise Grants
For truckers, it is considered as one of the best choices they can rely on.
The USA Department of Agriculture offers grants that you can apply for.
The awards range from about $10,000 to $500,000 and that can be good enough for you.
To qualify for this grant, your business has to be established in an area which is located in a major city of a population that is 50,000 people or more.
10 Steps You Can Take to Start a Trucking Company:
Here are 10 steps that can help you to start a trucking company without driving and no money.
What you have to do is to get your trucking company off the ground.
- Assess the strengths and weaknesses that you have before starting your own business.
- Prepare a business plan.
- Get all the applicable licenses and permits that can help such as:
- A commercial driver’s license (CDL).
- AUSDOT number.
- A motor carrier number.
- Buy insurance that can assist you at the time of need.
- Ensure truck financing.
- Put a plan to build your own fleet.
- Join different industry associations.
- Hire competent staff.
- Acquire customers from different places.
- Manage your finances and reduce your cost.
To start a trucking company without driving and no money, if you know that there’s an opportunity in the trucking business.
To create a new company successfully is a great thing to achieve.
A series of certain steps you should take to get from the drawing board to profitability.
If there’s no one successful path for you to follow.
Your success may come from having a knack for new business and keeping an eye on details.
There are some main steps that most trucking owner-operators have the ability to take.
If you decide to start their trucking business, always be in your positive position to succeed.