It is estimated that the US trucking industry earns an annual income of $800 billion which is equivalent to 500 000 trucking companies. Do you want to be part of the action?
There are a lot ways to go about it. Before you decide on a business plan but it’s a good idea to learn more on the overall picture. Apart from finding out about the most lucrative trucking companies It’s also possible to know about the latest developments in the industry by visiting sites like Truck Driver News.
Whatever the case there comes a time when you’ll need to know which trucking company is most profitable and you’re in the right spot for that. The following are the top five profitable trucking companies, with some suggestions for starting your own trucking business.
1: Mining Industry Trucking
This field calls for highly skilled drivers and is particularly lucrative because of the potential risk associated with it. It’s not just about moving mined coal on freeways, but also taking the materials from the mines. It is crucial that the driver avoid abrupt movements or bumps as both the driver and truck may be crushed by the event of a tunnel collapse. In the world of trucking there is a risk of higher risk, the greater the payout – and that’s why this is one of the most lucrative trucking companies that you can start.
2: Oversized Load Hauling
This is a job that requires specialized skills that you can’t simply fill up a semi truck and then hit the road. Any business that handles large transports must hire experienced drivers who have additional certifications, and they must make sure that the equipment they use is suitable for the item being moved. Larger loads can range from construction equipment, wind turbine components and even small homes all of which customers will spend a lot of money to transport.
3: Tanker Hauling
Tanker trucks can be used to transport harmful and not-hazardous fluids. It could be water or milk or even hazardous waste. These types of loads require additional certificates for drivers and particular attention when traveling. The risks and requirements associated with this industry makes it among the highest-earning businesses compared to other businesses.
4: Hazmat Hauling
The risk factor is the reason for the profit because hazmat hauling entails the transportation of explosive gases, flammable liquids and corrosion-causing substances. This is why you need a variety of safety guidelines and training, specially-designed certifications for drivers, as well as specific equipment to ensure that the materials are in their place. Because there’s a huge demand in this field there’s likely to be plenty of work opportunities for your drivers.
5: High-end Car Hauling
The higher the value of the cargo the more money it will cost to ship it. The price of luxury cars varies however they all cost a lot of money in transportation costs. While drivers don’t require any specific certifications to drive expensive vehicles, they’ll need to be well-trained and have a solid record.
The types of truck that are used by businesses that deal in trucking
If you’re considering starting your own trucking company You’ll have to purchase or lease at least one truck. These are the primary kinds of trucks employed in the business.
Dry Van Trailers
These are among the most often seen trucks that travel on US highways. They transport large equipment, pallets or cargo boxes.
Tanker Trucks
Tanker trucks transport raw goods such as milk or molasses, fuel, and a myriad of other liquid items.
Refrigerator Trucks
They are climate-controlled vehicles which function like mobile fridges. They usually transport food items, meat dairy products, meat and other food items that need to be kept cool or frozen.
Flatbed Trucks
Flatbed trucks are popular with trucking firms, since they can be loaded from every angle. They also have less height restrictions, as the load doesn’t need to be able to fit into the trailer closed on the standard semi truck. They are often used to transport machines as well as machine parts, timber and much many other things.
Intermodal Freight Transport Trucks
The trucks used transfer container containers between ships until they reach their destination. Since drivers do not have to oversee (or assist in) the loading or unloading of the truck this task can be less complicated than other tasks.
Tips to start an online business in the field of trucking
If you’re thinking of setting up your own trucking business Certain aspects will be simple to determine and others will need been sourced from seasoned experts. Here are some tips from experts to help you get started.
Keep a Reserve of Cash
Many business owners who are new take the mistake of launching their business as early as they can afford the capital to get their business off the foundation. It might seem like the result of a do-it-yourself mentality, but the reality is that it’s an extremely risky game. If new companies fail, and a lot of them do, one of the main reasons is that they required an immediate injection of cash but were unable to get it. It may be challenging to have cash in the bank for a business that is just starting out however it’s a crucial security net for your brand new trucking business.
Make a Plan in place
It’s more than just an engine and a licensed driver to establish an enterprise in the field of trucking. It is also important to understand the source of your customers from, what you’ll need in order to make money and so on. Make sure you know the numbers prior to committing to making a decision, and you’ll have greater chances of success.
Employ an attorney for Security Attorney and Compliance Attorney
The federal government won’t allow trucking companies get away with it and has a myriad of regulations that are in place to ensure they do not. A specialist attorney can assist you in navigating the rules and remain in compliance with the law, making sure that you don’t get detained for unintentional offenses.
The Takeaway
Although many trucking companies have a low margin but some can be very profitable if you are knowledgeable about the right way to go about it. It’s important to conduct your research You can’t just rent trucks, get an employee, and then start taking bookings. If you’re looking for the long-term it is important to ensure you get everything done properly the first time to ensure the most effective outcomes.
