Looking Both Ways
Building a Foundation For Your New Trucking Business
This post of Look Both Ways will be the first in a series on starting your own trucking company. This series is titled as such because it is not just about obtaining your own Authority – it is really about starting your own business. Trucking companies are businesses and success is not guaranteed. Other blogs on crucial topics will interrupt this series. Please read all of the posts in this series before determining if starting your own company is right for you. I promise you will have a new found appreciation of the Carrier you are leased on to after reading and understanding the complexity of responsibilities associated with operating a trucking company.
Disclaimer: This blog is NOT intended to give legal advice, nor be a substitute for any training required by the Regulations.
In upcoming posts in this Series of Look Both Ways, the following will be addressed to help you better understand some of the details of starting and running a trucking company. Come on, it’s easy, right?
· Your business plan.
· Authority – Common, Contract, Broker and Intra-state Authorities.
· Required Broker Bond or other Security.
· Process Agents.
· Required Insurance Filings (Please also see Risky Business the blog written by Shelly Benish here on ExpeditersOnLine.com for specific details of truck insurance).
· FMCSA New Entrant Program.
· MCS-150 filing and required updates.
· Permits.
· Fuel/Mileage Taxes.
· Ad Valorem Taxes, Property Valuation Taxes, and miscellaneous Taxes (CAT).
· Entry Level Driver Training.
· Record Keeping.
· Driver Qualification files.
· 49CFR - The DOT Regulations – I have to know all of this?
· 29CFR – Some OSHA Regulations – These regulations also?
· Alcohol and Controlled Substance testing.
· Accidents, including prevention, investigation, record keeping and exposure to liability.
· Customers.
· Accounting
· Risk Exposure
· Tips to protect your business.
Having knowledge and understanding of the above topics won’t guarantee success but will surely give insight to help make better decisions with your new business.
Till the next blog, Thank you drivers for all you do!. Please be safe!
Read Part 2: Building a Foundation For Your New Trucking Business - First Steps
John Mueller, CDS
