The trucking industry continues to grow. Business Insider reports that nearly 6 percent of all jobs in the United States are related to the trucking industry. If you are preparing to launch a trucking business, it is essential that you know the right steps to take. In a competitive industry, early mistakes can cost you big in the long run. Here, our trucking consultants offer a checklist for entrepreneurs looking to start a commercial truck business.
Your Checklist for Starting a Truck Business
Trucking is a complicated, highly regulated industry—especially if, like most trucking companies, you plan to operate across state lines. Here is your checklist for starting a commercial trucking business:
— Get a Commercial Driver’s License: To operate a large commercial truck, a driver needs a commercial license (CDL). Make sure that all drivers who will be working for your business have the proper license.
— Apply for DOT and FMCSA Numbers: Trucking can only lawfully haul cargo in the United States if you have registered with the Department of Transportation (DOT) and the Federal Motor Carrier Safety Administration (FMCSA). You can get both numbers by submitting the form MCS-150 along with the application for safety certification.
— Fill Out Unified Carrier Registration (UCR): Are you planning to operate across state lines? If so, your trucking business must complete and submit the Unified Carrier Registration (UCR) form.
— Obtain Your IFTA Decal: The International Fuel Tax Agreement (IFTA) decal is designed to simplify fuel tax obligations for your business. You can obtain it from your home state. As an example, an IFTA decal can be ordered from the Georgia Department of Revenue.
— File Your BOC-3 Form: If you are forming a trucking business, you must submit a BOC-3 form. This form will designate a specific person in each state you operate as your company’s ‘agent’. If there is a legal claim filed by your business, it will go to your assigned agent.
— Make a Comprehensive Business Plan: The trucking industry is hyper-competitive. The importance of a well-crafted business plan cannot be overstated. With the right plan, your new company will be in the best position to take advantage of opportunities. Beyond simply obtaining the required license and permits, you need a plan to build and grow your trucking company.
Building a successful business is not easy. You have the vision. Our trucking industry consultants are here to help you turn it into a reality. We know the state and federal registration/licensing requirements inside and out.
Get Help Starting a Trucking Business in Georgia
At Suivant Consulting, our business consultants have the skills and experience to help you form a company in the commercial trucking industry. Our team is focused on helping clients find the best solutions. If you have questions or concerns about starting or growing a trucking business, we are available to help. Contact us at 770-874-9951 to learn more about our consulting services. Our trucking consulting team serves businesses and entrepreneurs in Atlanta, Georgia, and beyond.