Today, we will you about how to start a trucking company. It is one of the most profitable businesses of all time. The more you show passion, the more the company get progress.
What is a trucking company?
Before learning How to Start a Trucking Company, it is important to know what is a trucking company.
The general meaning of a trucking company is to do any business through the means of a truck.
You must have noticed when we buy some heavy goods from the market, which is difficult to carry.
Or if we need to supply a few items and we can’t visit the city.
So, we use the assistance of delivery companies. By giving them the cash for those items, we get our items to be brought to the particular locations and, that’s what a delivery organization desires.
How to open your own Trucking Company?
To start your own transport company, you have to follow the below process step-by-step:
- First, you need to go for online company registration.
- After this, you have to get a GST number, license, and Udyog Aadhaar to start this company.
- You will have to pay a fee of up to ten thousand. After this, you will get all these necessary things.
- Next, you have to arrange for the means of transport and also you have to find the driver to drive the vehicle. After this, you can start your own truck company.
- To start this company, you can also get a loan from a bank with a low-interest rate.
Registration for Truck Company
To start any transport business in India, first of all, it has to be registered legally. Its registration has to be done by the central government. In this, you need to take Shop Act License, Udyog Aadhar, and GST Number. Only after registration can we proceed with our business.
Arrange Finance for Truck Company
You have to buy a truck for your company and, government help is also available to you to start this business.
There is the availability of a loan for this type of business.
Around eighty per cent of the loan is received by the government for starting the transport business.
But there is a limit you can able to buy a maximum of ten vehicles only.
You have to spend at least twenty per cent of your money, and the rest eighty per cent will be done by the government.
If you get even a 50 per cent loan for any business, then it is a big deal and, here you are getting 80 per cent assistance.
Buy Trucks
If you buy a truck worth 15 lakhs, its monthly instalment will come around up to Rs.42000.
So, try to buy the truck according to your needs and limits.
Business Licenses and Permits
When you search for how to start a trucking company, you will have to acquire some mandatory licenses.
Governments want businesses to have valid licenses and permits before opening their services.
The licenses and permits can be required depending on your service and the location where your trucking company operates.
- Commercial Drivers License
- USDOT No.
- Motor Carrier No.
- IRP
- IFTA
- BOC 3
Get Registered on Justdial .com
Justdial.com is a local search engine. When you call here, citizens of the city often get information about different services, etc. You must register your transport company here. You can grow your business significantly by registering your business here. Here you will need 4,000 rupees to register.
Imagine that you have received an order from Just Dial that has to carry 100 kg of luggage. After that, you need to talk to other logistics companies. If you know your price, add your profit and share the total cost directly with the customer.
Then the profit between the customer and the logistics company belongs to you.
Full Load Transport:
The business of the truck company is very profitable.
There are transport towns in different cities. Establishing your business in this place requires continuous hard work for about two months. Here you need your visiting card. So you must have a visiting card.
Transport Directory
From here you need to get a thick book related to transport, Transport Directory.
The details of the transport companies are given in this.
With the help of which you can establish relationships with companies.
- You can pick up the goods, by knowing the details of the transport companies from this book.
- For booking, you need to talk to the commission agent. Therefore, it is necessary to have a conversation with the commission agent of any transport company you want to set up.
- You also need to know things related to the loading and unloading of goods from your customer. If the client hires you to upload and unload, you could earn cash right here too.
Understand and Regulate your Earning and Expenses
The main factor in the success of any business is a discipline system to keep track of profits and losses.
For transport companies, this is particularly important from a logistical point of view, as payments are often received weeks or months after delivery. It can be hard to track along the way.
To avoid common barriers to getting started, consider the following practices:
- Hire an accountant or keep records of earnings and expenses.
- Understand when and how you get paid for deliveries. Shipping contracts often provide for payment thirty to ninety days after delivery. Delays can happen, but only if you know about them in advance.
- Keep a complete record of business expenses. For example, file of invoices, receipts, and check deductions so you can prove your expenses if necessary.
- Keep your personal and professional finances separate.
- Try to keep separate bank accounts for professional and personal use.
Benefits of the Truck Company Business
Now that you know how to start a Trucking Company, it’s time to learn some benefits.
- If you open a truck company, you can take good advantage and, many opportunities are available for this business.
- If you start a truck company, you can link your vehicles with other transportation services. And get good profit.
- Apart from this, you can join the online market just dial.com to get better and more customers. By registering here for four thousand, you can get your customers in your city.
- You have many such methods from which you can get customers and take this business forward.
Author Name
Geeteshree Singh Panwar