Start your own accelerated business
The transportation sector is one of the few industries that is expected to grow at least 2% next year. That makes it a great opportunity for those who want to break free from the pack and start their own business.
What are you going to need?
First, you’ll want to get your business license and operating authorities or, as most call them, enforcement rights.
Why do I need enforcement rights?
You will need your rights of movement to be able to transport goods. The government requires you to obtain the license, as well as the companies with which you do business. Without the necessary operating rights, you will not be able to start your business. For more information on the operating rights required to start your business, visit 411 Transportation solutions link located at the bottom of this page.
The next step would be insurance.
You will need to insure your vehicle (s) and purchase cargo liability insurance. Be sure to shop around to find the best prices. Rates are coming down and if you decide to hire owner operators, you may want them to buy upfront purchase insurance. Buying initial insurance is a great idea. Reduces the cost of your insurance deductible in the event of an accident. When I started an urgent business, all the drivers bought this insurance and I deducted the cost of their payroll every month. I would definitely suggest looking into this, it’s always better to be safe than sorry and it’s inexpensive. If for some reason you have an accident in the first year of starting your business, you don’t want to have to close the doors because your insurance deductible was twice as high.
How much will this cost me to start?
Starting your business doesn’t have to cost a fortune. You can start your business for as little as $ 2,000 or less. That’s how. Start your business from home; use your own computer, internet and your own vehicle. If you already rent a vehicle, be sure to change it to your business name so you can get it right at the end of your business year, as well as your internet, phone, etc. You will need to purchase a printer / fax machine; you can find them cheaply at your local store. The following is a telephone line, this is very important as it will be the life line of your business. I suggest products like Magic Jack where there is a low rate for the year that is very cheap. Once your business is up and running and making a profit, you may want to find a store or office from which to run your business and install a more sophisticated phone system. Most of your initial cash will be obtaining your operating rights and insurance. The way to save money is to apply for the authorities yourself or buy a commercial package that provides everything you need. If you go to a consultant, it could end up costing you from a thousand dollars or more!
Where will I find loads?
Start with the contacts you already know; dispatchers and companies for which you have delivered. Your current or former employer may not like it, but they most likely started the same way. If you don’t have any contacts, start with the load charts. There are many areas where you can find cargo; here are some. Load tables; there are many out there, some are free or offer free trials. You can also contact freight forwarders, send them your information, and make sure you let them know where the vehicles for transporting goods are located. Also reach out to other carriers and post your vehicle (s) online so companies know what’s available.
