owner operator trucking business plan example

Truck Owner Operator Business Plan Template

Written by Dave Lavinsky

Truck Owner Operator Business Plan

Over the past 20+ years, we have helped over 1,000 entrepreneurs and business owners create business plans to start and grow their truck owner operator businesses. On this page, we will first give you some background information with regards to the importance of business planning. We will then go through a truck owner operator business plan template step-by-step so you can create your plan today.

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What is a Truck Owner Operator Business Plan?

A business plan provides a snapshot of your truck owner operator business as it stands today, and lays out your growth plan for the next five years. It explains your business goals and your strategy for reaching them. It also includes market research to support your plans.

Why You Need a Business Plan as a Truck Owner Operator

If you’re looking to start a truck owner operator business, or grow your existing truck owner operator business, you need a business plan. A business plan will help you raise funding, if needed, and plan out the growth of your truck owner operator business in order to improve your chances of success. Your truck owner operator business plan is a living document that should be updated annually as your company grows and changes.

Sources of Funding for Truck Owner Operator Businesses

With regards to funding, the main sources of funding for a truck owner operator business are personal savings, credit cards, bank loans and angel investors. With regards to bank loans, banks will want to review your business plan and gain confidence that you will be able to repay your loan and interest. To acquire this confidence, the loan officer will not only want to confirm that your financials are reasonable, but they will also want to see a professional plan. Such a plan will give them the confidence that you can successfully and professionally operate a business. Personal savings and bank loans are the most common funding paths for truck owner operator businesses.

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How to write a business plan for a truck owner operator.

If you want to start a truck owner operator business or expand your current one, you need a business plan. Below are links to each section of your truck owner operator business plan template:

Executive Summary

Your executive summary provides an introduction to your business plan, but it is normally the last section you write because it provides a summary of each key section of your plan.

The goal of your Executive Summary is to quickly engage the reader. Explain to them the type of truck owner operator business you are operating and the status. For example, are you a startup, do you have a trucking business that you would like to grow, or are you operating truck owner operator businesses in multiple markets?

Next, provide an overview of each of the subsequent sections of your plan. For example, give a brief overview of the truck owner operator industry. Discuss the type of trucking business you are operating. Detail your direct competitors. Give an overview of your target customers. Provide a snapshot of your marketing plan. Identify the key members of your team. And offer an overview of your financial plan.  

Company Analysis

In your company analysis, you will detail the type of truck owner operator company you are operating.

For example, you might operate one of the following types of truck owner operator businesses:

• Leased owner operator (exclusive) : this type of truck owner operator business does not have their own motor carrier authority granted by the Department of Transportation. This business cannot operate fully independently from a motor carrier company.
• Leased owner operator (non-exclusive): this type of truck owner operator also does not have their own Department of Transportation motor carrier authority and are still able to operate on the open market on their own and by contracting with motor carrier companies. They are free to negotiate their own contracts with carriers they choose to work with.
• For hire owner operator: this type of truck owner operator is entirely independent and does hold their own Department of Transportation motor carrier authority. They are able to operate as their own business entity.

In addition to explaining the type of truck owner operator business you will operate, the Company Analysis section of your business plan needs to provide background on the business.

Include answers to question such as:

• When and why did you start the business?
• What milestones have you achieved to date? Milestones could include the number of client companies served, number of positive reviews, reaching X amount of client companies served, etc.
• Your legal structure. Are you incorporated as an S-Corp? An LLC? A sole proprietorship? Explain your legal structure here.

Industry Analysis

In your industry analysis, you need to provide an overview of the trucking industry.

While this may seem unnecessary, it serves multiple purposes.

First, researching the trucking industry educates you. It helps you understand the market in which you are operating. 

Secondly, market research can improve your strategy, particularly if your research identifies market trends.

The third reason for market research is to prove to readers that you are an expert in your industry. By conducting the research and presenting it in your plan, you achieve just that.

The following questions should be answered in the industry analysis section of your truck owner operator business plan:

• How big is the trucking industry (in dollars)?
• Is the market declining or increasing?
• Who are the key competitors in the market?
• Who are the key suppliers in the market?
• What trends are affecting the industry?
• What is the industry’s growth forecast over the next 5 – 10 years?
• What is the relevant market size? That is, how big is the potential market for your truck owner operator business? You can extrapolate such a figure by assessing the size of the market in the entire country and then applying that figure to your local population.

Customer Analysis

The customer analysis section of your truck owner operator business plan must detail the customers you serve and/or expect to serve.

The following are examples of customer segments: large retail operation, retail chain, and construction companies

As you can imagine, the customer segment(s) you choose will have a great impact on the type of trucking business you operate. Clearly, construction companies would respond to different marketing promotions than large retail operations, for example.

Try to break out your target customers in terms of their demographic and psychographic profiles. With regards to demographics, include a discussion of the ages, genders, locations and income levels of the customers you seek to serve.

Psychographic profiles explain the wants and needs of your target customers. The more you can understand and define these needs, the better you will do in attracting and retaining your customers.

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Competitive Analysis

Your competitive analysis should identify the indirect and direct competitors your business faces and then focus on the latter.

Direct competitors are other trucking businesses. 

Indirect competitors are other options that customers have to purchase from that aren’t direct competitors. This includes transportation companies such as railroads and air transportation. You need to mention such competition as well.

With regards to direct competition, you want to describe the other trucking businesses with which you compete. Most likely, your direct competitors will be trucking businesses located very close to your location.

For each such competitor, provide an overview of their businesses and document their strengths and weaknesses. Unless you once worked at your competitors’ businesses, it will be impossible to know everything about them. But you should be able to find out key things about them such as:

• What types of trucks do they operate?
• What areas do they serve?
• What type of trucking company are they?
• What is their pricing (premium, low, etc.)?
• What are they good at?
• What are their weaknesses?

With regards to the last two questions, think about your answers from the customers’ perspective. And don’t be afraid to ask your competitors’ customers what they like most and least about them.

The final part of your competitive analysis section is to document your areas of competitive advantage. For example:

• Are your trucks more fully-equipped than the competition?
• Will you provide transportation services that your competitors don’t offer?
• Will you provide better customer service?
• Will you offer better pricing?

Think about ways you will outperform your competition and document them in this section of your plan.  

Marketing Plan

Traditionally, a marketing plan includes the four P’s: Product, Price, Place, and Promotion. For a trucking business, your marketing plan should include the following:

Product : In the product section, you should reiterate the type of trucking company that you documented in your Company Analysis. Then, detail the specific products you will be offering. For example, in addition to a trucking company, will you provide GPS tracking, 24/7/365 service, client communication, and any other services?

Price : Document the prices you will offer and how they compare to your competitors. Essentially in the product and price sub-sections of your marketing plan, you are presenting the services you offer and their prices.

Place : Place refers to the location of your trucking company. Document your location and mention how the location will impact your success. For example, is your trucking company located near a warehouse district, a construction area, an industrial distict, etc. Discuss how your location might be the ideal location for your customers.

Promotions : The final part of your marketing plan is the promotions section. Here you will document how you will drive customers to your location(s). The following are some promotional methods you might consider:

• Advertising in local papers and magazines
• Logistics industry publications
• Social media marketing
• Local radio advertising

Operations Plan

While the earlier sections of your business plan explained your goals, your operations plan describes how you will meet them. Your operations plan should have two distinct sections as follows.

Everyday short-term processes include all of the tasks involved in running your trucking business, including cleaning the truck, prepping the shipment any necessary mechanical needs the truck may require, and informing client of location and status updates.

Long-term goals are the milestones you hope to achieve. These could include the dates when you expect to obtain your XXth client company, or when you hope to reach $X in revenue. It could also be when you expect to expand your trucking business to a new location.  

Management Team

To demonstrate your trucking company’s ability to succeed, a strong management team is essential. Highlight your key players’ backgrounds, emphasizing those skills and experiences that prove their ability to grow a company. 

Ideally you and/or your team members have direct experience in managing trucking businesses. If so, highlight this experience and expertise. But also highlight any experience that you think will help your business succeed.

If your team is lacking, consider assembling an advisory board. An advisory board would include 2 to 8 individuals who would act like mentors to your business. They would help answer questions and provide strategic guidance. If needed, look for advisory board members with experience in managing a trucking company or is experienced in the fleet industry.  

Financial Plan

Your financial plan should include your 5-year financial statement broken out both monthly or quarterly for the first year and then annually. Your financial statements include your income statement, balance sheet and cash flow statements.

Income Statement : an income statement is more commonly called a Profit and Loss statement or P&L. It shows your revenues and then subtracts your costs to show whether you turned a profit or not.

In developing your income statement, you need to devise assumptions. For example, will you take on one new client at a time or multiple new clients with multiple trucks ? And will sales grow by 2% or 10% per year? As you can imagine, your choice of assumptions will greatly impact the financial forecasts for your business. As much as possible, conduct research to try to root your assumptions in reality.

Balance Sheets : Balance sheets show your assets and liabilities. While balance sheets can include much information, try to simplify them to the key items you need to know about. For instance, if you spend $50,000 on building out your trucking business, this will not give you immediate profits. Rather it is an asset that will hopefully help you generate profits for years to come. Likewise, if a bank writes you a check for $50,000, you don’t need to pay it back immediately. Rather, that is a liability you will pay back over time.

Cash Flow Statement : Your cash flow statement will help determine how much money you need to start or grow your business, and make sure you never run out of money. What most entrepreneurs and business owners don’t realize is that you can turn a profit but run out of money and go bankrupt.

In developing your Income Statement and Balance Sheets be sure to include several of the key costs needed in starting or growing a trucking business:

• Cost of trucks
• Cost of fuel and transportation overhead
• Payroll or salaries paid to staff
• Business insurance
• Taxes and permits
• Legal expenses

Attach your full financial projections in the appendix of your plan along with any supporting documents that make your plan more compelling. For example, you might include your truck lease or cost or the areas your trucking business will serve.  

Putting together a business plan for your truck owner operator business is a worthwhile endeavor. If you follow the template above, by the time you are done, you will truly be an expert. You will really understand the trucking industry, your competition, and your customers. You will have developed a marketing plan and will really understand what it takes to launch and grow a successful trucking business.  

Truck Owner Operator Business Plan FAQs

What is the easiest way to complete my truck owner operator business plan.

Growthink's Ultimate Business Plan Template allows you to quickly and easily complete your Truck Owner Operator Business Plan.

What is the Goal of a Business Plan's Executive Summary?

The goal of your Executive Summary is to quickly engage the reader. Explain to them the type of truck owner operator business you are operating and the status; for example, are you a startup, do you have a truck owner operator business that you would like to grow, or are you operating a chain of truck owner operator businesses?

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Other Helpful Business Plan Articles & Templates

Trucking Business Plan Template

Written by Dave Lavinsky

Trucking Company Business Plan

You’ve come to the right place to create your trucking business plan.

We have helped over 100,000 entrepreneurs and business owners create business plans and many have used them to start or grow their trucking companies.

Trucking Business Plan Example

Below is a sample trucking business plan template to help you write a trucking business plan for your own company.

Executive Summary

Business overview.

On The Road Trucking (OTRT) is a new trucking company located in Dallas, Texas. The company was founded by Michael Williams, a trucking and logistics professional who has over 20 years of management experience in trucking and logistics. Michael is confident in his ability to effectively negotiate contracts, oversee drivers and employees, and minimize costs as he ventures out to start his own trucking company. Michael plans on recruiting a team of highly qualified drivers, sales representatives, client relationship managers, and dispatchers to carry out the day-to-day operations of the company.  

On The Road Trucking will provide a comprehensive array of trucking and logistics services for any business or individual in need of freight distribution. OTRT will use the latest technology to ensure that every shipment is distributed efficiently and handled with the best of care. On The Road Trucking will be the ultimate choice in the Dallas, Texas area for customized trucking services.

Product Offering

The following are the services that On The Road Trucking will provide:

• Dedicated fleet services
• Flatbed transportation services
• Local distribution services
• Logistics services
• Warehousing services

Customer Focus

On The Road Trucking will target all businesses and individuals in need of freight services. OTRT will begin by targeting small business owners in need of distribution services and individuals in need of shipping services who may not be able to get service from a larger trucking company because their shipment size is too small. No matter the client, On The Road Trucking will deliver a customer-centric experience where they will customize each shipment to match the customer’s specific requirements. 

Management Team

On The Road Trucking will be owned and operated by Michael Williams. He has recruited another experienced trucking professional and former CPA, Steve Brown to be the CFO of the new company and manage the financial oversight of the accounting department. 

Michael Williams is a graduate of the University of Texas with a Bachelor’s degree in Business Management. He has been working at a local trucking company for over two decades as a Transportation Manager, and is well-versed in all aspects of the trucking industry. Micheal’s organizational skills and customer-first approach have garnered his reputation for being a cost-effective logistics manager with high standards for customer service. 

Steve Brown has been the accounting manager for a local trucking company for over ten years. Prior to his experience in trucking, Steve worked as a CPA in a local tax firm. Michael relies strongly on Steve’s attention to detail, diligence, and focus on cost-saving solutions.

Success Factors

On The Road Trucking will be able to achieve success by offering the following competitive advantages:

• Proactive, helpful, and highly qualified team of sales representatives and dispatchers that are able to effectively navigate the journey of both customers and drivers. 
• Customized service that allows for a small business or an individual to have their requirements accommodated. On The Road Trucking takes care of everything from truck inspections and maintenance to scheduling drivers, loading/unloading, and short-and-long range distribution. 
• On The Road Trucking offers the best pricing for customized and small shipments compared to the competition.

Financial Highlights

On The Road Trucking is seeking $300,000 in debt financing to launch its trucking business. The funding will be dedicated towards securing the warehouse and purchasing the trucks. Funding will also be dedicated towards three months of overhead costs to include payroll of the staff, rent, and marketing costs for the print ads and association memberships. The breakout of the funding is below:

• Warehouse build-out: $50,000
• Trucks, equipment, and supplies:  $20,000
• Three months of overhead expenses (payroll, rent, utilities):  $180,000
• Marketing costs: $30,000
• Working capital:  $20,000

The following graph below outlines the pro forma financial projections for On The Road Trucking.

Company Overview

Who is on the road trucking .

On The Road Trucking is a newly established trucking company in Dallas, Texas. On The Road Trucking will be the most reliable, secure, and efficient choice for small business owners and individuals in Dallas and the surrounding communities. OTRT will provide a personalized approach to trucking services for anyone in need of freight transportation. Their full-service approach includes comprehensive truck driver oversight, short-distance distribution, small shipments, and customized service.   

  On The Road Trucking’s team of professionals are highly qualified and experienced in trucking and logistics operations. OTRT removes all headaches that come with dealing with trucking companies and ensures all issues are taken care off expeditiously while delivering the best customer service.

On The Road Trucking History

OTRT is owned and operated by Michael Williams, a long-time trucking and logistics professional who has a Business Management degree. He worked at a local trucking company for over two decades where he served as Lead Transportation Manager for the last five years, and is well-versed in all aspects of the trucking and transportation industry. Micheal used his industry expertise to reach out to potential customers who may need small-size distribution services that are not offered by larger trucking businesses and letting them know about the services OTRT will offer. 

Since incorporation, On The Road Trucking has achieved the following milestones:

• Registered On The Road Trucking, LLC to transact business in the state of Texas. 
• Identified the target location for the warehouse. 
• Contacted numerous small businesses to let them know about the services that will be offered. 
• Began recruiting drivers, sales representatives, and dispatchers. 

On The Road Trucking Services

The following will be the services On The Road Trucking will provide:

Industry Analysis

As the primary source of land freight distribution in the United States, the trucking industry is a $730B industry. 

There are approximately 900,000 available truck drivers across the country. The demand for drivers is much higher than the supply, which means there is a lot of opportunity for new companies to recruit people to become truck drivers by offering them better incentives than currently being offered by larger trucking companies. Additionally, a new trend in trucking is the increasing popularity of shorter or local hauls compared to long-distance. This poses an opportunity for companies to cater to the customers demanding short-distance hauls. 

Some challenges for trucking industry operators include rising fuel costs and an increased use of online booking and monitoring technology, which can leave traditional companies behind if they are using outdated systems. New entrants can benefit from using the latest technology from the outset, providing drivers with incentives to work with them, and implementing cost-effective solutions to reduce their fuel costs. 

Customer Analysis

Demographic profile of target market.

On The Road Trucking will target anyone in need of trucking services in Dallas, Texas and surrounding areas. Primarily, the company will target small businesses and individuals that may need local distribution or have small size hauls.  Below is a snapshot of this market.

Customer Segmentation

OTRT will primarily target the following customer profiles:

• Small business owners
• Small manufacturing companies
• Individuals in need of freight transportation services

Competitive Analysis

Direct and indirect competitors.

On The Road Trucking will face competition from other companies with similar business profiles. A company description of each competitor is below.  

Texas Truck Services

Texas Truck Services provides trucking services, logistics services, freight distribution, and warehousing services. Located in Dallas, Texas Truck Services offers local service to the Dallas area. Texas Truck Services’s team of experienced professionals assures the hauls are run smoothly, freeing the customer from worry over whether their shipments will arrive on time and in good condition.   

US Trucking & Logistics

US Trucking & Logistics is a Dallas-based trucking and logistics company that provides freight distribution services for small businesses across Texas. The management team is composed of former truck drivers and business management professionals who are familiar with the trucking industry in Texas. US Trucking & Logistics uses electric vehicles to reduce its fuel costs, which allows the company to pass these savings on to its customers.   

Best Trucking

Best Trucking is a trusted Dallas-based trucking company that provides superior trucking and logistics service to customers in Dallas and the surrounding areas. Best Trucking provides shipping, receiving, packaging, and disposal services. The Best Trucking team of logistics experts ensures that each shipment is delivered with the highest security standards and that the entire freight process is smooth and seamless for its customers.   

Competitive Advantage

On The Road Trucking will be able to offer the following advantages over their competition:

• Friendly, knowledgeable, and highly qualified team of trucking and logistics experts with extensive experience in the field. 
• Use of the latest trucking and logistics technology to ensure each haul is handled with the best of care and delivered efficiently. 
• On The Road Trucking offers local distribution and takes small hauls that may be denied by larger trucking companies. 

Marketing Plan

Brand & value proposition.

On The Road Trucking will offer the following unique value propositions to its clientele:

• Highly-qualified team of skilled employees that is able to provide a comprehensive set of trucking services (shipping, receiving, monitoring, short-distance, small hauls).
• Customized approach to freight distribution, leveraging technology and flexibility to provide the highest quality of service to its customers. 

Promotions Strategy 

The promotions strategy for On The Road Trucking is as follows:

Word of Mouth/Referrals Michael Williams has built up an extensive list of contacts over the years by providing exceptional service and expertise to his clients. Once Michael advised them he was leaving to open his own trucking business, they committed to follow him to his new company and help spread the word of On The Road Trucking.

Professional Associations and Networking On The Road Trucking will become a member of Texas Trucking Association (TTA), and American Trucking Association (ATA). They will focus their networking efforts on expanding their client network.

Print Advertising On The Road Trucking will invest in professionally designed print ads to include in industry publications.

Website/SEO Marketing On The Road Trucking will utilize their in-house marketing director that designed their print ads to also design their website. The website will be well organized, informative, and list all their services. The website will also list their contact information and provide information for people looking to become drivers. The marketing director will also manage the company’s website presence with SEO marketing tactics so that anytime someone types in the Google or Bing search engine “Dallas trucking company” or “trucking near me”, On The Road Trucking will be listed at the top of the search results.  

The pricing of On The Road Trucking will be moderate and on par with competitors so customers feel they receive value when purchasing their services. 

Operations Plan

The following will be the operations plan for On The Road Trucking.

Operation Functions:

• Michael Williams will be the Co-Owner and President of the company. He will oversee all staff and manage client relations. Michael has spent the past year recruiting the following staff:
• Steve Brown – Co-Owner and CFO who will be responsible for overseeing the accounts payable, accounts receivable, and managing the accounting department. 
• Beth Davis – Staff Accountant will provide all client accounting, tax payments, and monthly financial reporting. She will report directly to Steve Brown. 
• Tim Garcia – Marketing Manager who will provide all marketing, advertising, and PR for OTRT.
• John Anderson – Safety Manager who will provide oversight on all maintenance and safety inspections of the vehicles and drivers. 

Milestones:

On The Road Trucking will have the following milestones complete in the next six months.

7/1/2022 – Finalize lease on warehouse

7/15/2022 – Finalize personnel and staff employment contracts for the management team

8/1/2022 – Finalize contracts for sales representatives, dispatchers, and initial drivers

9/15/2022 – Begin networking at industry events 

10/22/2022 – Begin moving into On The Road Trucking warehouse and securing trucks

11/1/2022 – On The Road Trucking opens for business

Michael Williams is a graduate of the University of Texas with a Bachelor’s degree in Business Management. He has been working at a local trucking company for over two decades, most recently as a Transportation Manager, and is well-versed in all aspects of the trucking industry. Micheal’s organizational skills and customer-first approach have garnered his reputation for being a cost-effective logistics manager with high standards for customer service. 

Financial Plan

Key revenue & costs.

The revenue drivers for On The Road Trucking are the trucking fees they will charge to the customers for their services. Most trucking companies charge a per-mile rate. Average per-mile rates vary, but are typically between $2.30-3.30. 

The cost drivers will be the overhead costs required in order to staff a trucking operation. The expenses will be the payroll cost, rent, utilities, fuel and maintenance for the trucks, and marketing materials.

Funding Requirements and Use of Funds

Key assumptions.

The following outlines the key assumptions required in order to achieve the revenue and cost numbers in the financials and in order to pay off the startup business loan.

• Number of Trucks in Fleet: 10
• Average Fees per Truck per Month: $20,000
• Warehouse Lease per Year: $100,000

Financial Projections

Income statement, balance sheet, cash flow statement, trucking business plan faqs, what is a trucking business plan.

A trucking business plan is a plan to start and/or grow your trucking business. Among other things, it outlines your business concept, identifies your target customers, presents your marketing plan and details your financial projections.

You can  easily complete your trucking business plan using our Trucking Business Plan Template here .

What are the Main Types of Trucking Companies?

There are a number of different kinds of trucking companies, some examples include: For- Hire Truckload Carriers, Less Than Truckload Carriers, Hotshot Truckers, Household Movers and Inter-Modal trucking.

How Do You Get Funding for Your Trucking Business Plan?

Trucking companies are often funded through small business loans. Personal savings, credit card financing and angel investors are also popular forms of funding. This is true for a business plan for a trucking company and a transportation business plan.

What are the Steps To Start a Trucking Business?

Starting a trucking business can be an exciting endeavor. Having a clear roadmap of the steps to start a business will help you stay focused on your goals and get started faster. 

1. Develop A Trucking Business Plan - The first step in starting a business is to create a detailed trucking business plan that outlines all aspects of the venture. Starting a trucking company business plan should include potential market size and target customers, the services or products you will offer, pricing strategies and a detailed financial forecast.  

2. Choose Your Legal Structure - It's important to select an appropriate legal entity for your trucking business. This could be a limited liability company (LLC), corporation, partnership, or sole proprietorship. Each type has its own benefits and drawbacks so it’s important to do research and choose wisely so that your trucking business is in compliance with local laws.

3. Register Your Trucking Business - Once you have chosen a legal structure, the next step is to register your trucking business with the government or state where you’re operating from. This includes obtaining licenses and permits as required by federal, state, and local laws. 

4. Identify Financing Options - It’s likely that you’ll need some capital to start your trucking business, so take some time to identify what financing options are available such as bank loans, investor funding, grants, or crowdfunding platforms. 

5. Choose a Location - Whether you plan on operating out of a physical location or not, you should always have an idea of where you’ll be based should it become necessary in the future as well as what kind of space would be suitable for your operations. 

6. Hire Employees - There are several ways to find qualified employees including job boards like LinkedIn or Indeed as well as hiring agencies if needed – depending on what type of employees you need it might also be more effective to reach out directly through networking events. 

7. Acquire Necessary Trucking Equipment & Supplies - In order to start your trucking business, you'll need to purchase all of the necessary equipment and supplies to run a successful operation. 

8. Market & Promote Your Business - Once you have all the necessary pieces in place, it’s time to start promoting and marketing your trucking business. This includes creating a website, utilizing social media platforms like Facebook or Twitter, and having an effective Search Engine Optimization (SEO) strategy. You should also consider traditional marketing techniques such as radio or print advertising. 

Learn more about how to start a successful trucking business:

• How to Start a Trucking Business

Where Can I Get a Trucking Business Plan PDF?

You can download our free trucking business plan template PDF here . This is a sample trucking business plan template you can use in PDF format.

Truck Owner Operator Business Plan [Sample Template]

By: Author Tony Martins Ajaero

Home » Business ideas » Transportation Industry » Trucking

Are you about starting a truck owner operator business? If YES, here is a complete sample truck owner operator business plan template & feasibility report you can use for FREE .

Although you would need certifications, licenses and college degrees to be able to launch some businesses, but the truth remains that there are also loads of businesses out there that you can launch with just what you have and one of such businesses is to start a truck owner operator business.

This is especially ideal for you if you already own your own truck. All you have to do is to ensure that you equip yourself with the required commercial driver’s license (CDL), business network and the right attitude.

A Sample Truck Owner Operator Business Plan Template

1. industry overview.

Truck owner operators operates in the trucking industry and it is a known fact that the trucking industry plays a very important role in the economy of the world; they provide essential services to the united states economy by transporting large quantities of raw materials, machines, equipment, dirt, rocks, building materials, and finished goods over land—typically from manufacturing plants to retail distribution centers and from warehouses to construction sites.

As matter of fact, heavy duty trucks are indispensable in the construction industry. The trucking industry is responsible for the majority of freight movement over land, and they are a major stakeholder in the manufacturing, transportation, and warehousing industries in the United States of America and in other parts of the world.

In the United States, Large trucks and buses drivers require a commercial driver’s license (CDL) before they can be permitted to operate. The activities in the trucking industry is regulated by the United States Department of Transportation (USDOT), the Federal Motor Carrier Safety Administration (FMCSA) and the Federal Highway Administration (FHWA).

They ensure that drivers and trucking companies adhere to safety rules and regulations and also that potential truck drivers undergo special training on how to handle large vehicle before applying and obtaining their commercial driver’s license (CDL).

Statistics has it that food and food products, lumber or wood products, as well as petroleum or coal account for 34.8 percent of truck traffic in the United States and by volume, clay, glass, concrete and stone, farm products, as well as petroleum and coal account for 35.6 percent of truck traffic.

The advancement in technology in areas such as computers, satellite communication, and the internet, has contributed immensely to the growth of the industry. The advancement in technology is responsible for increase of productivity of trucking companies operations, it helps them effectively monitor their trucks and their drivers and it helps driver save time and effort.

The trucking industry is not restricted to trailers or large trucks hauling goods from destination to another via interstate highways, it also involves smaller trucks that help transport smaller quantity of goods from one destination within a city to another destination within same city. Trucking business is not only about transporting goods over a long distance.

As a matter of fact, in the U.S. about 66 percent of truck tonnage moves distances of 100 miles or less; local and regional hauls account for almost half of all truck revenues and are they are the preferred choice for private carriers. No doubt starting and operating a truck owner operator business can be challenging, but the truth is that it can be rewarding at the same time.

One good thing about the industry is that it is open for both big time investors who have the capacity to start the business with fleet of trucks and aspiring entrepreneurs who may one to start with just one truck operating as a truck owner getting deals from haulage companies and from big time trucking companies amongst others.

2. Executive Summary

Robson Graham® Truck Service Inc. is a trucking services company that will operate for now as a truck owner operator company with just one standard 40Tons truck, the company will be based in 10548 SD Highway 32 Belle Fourche South Dakota.

We will provide daily freight services (trucking services, moving services & supplies, and bulk material sales & supplies) on one skid to full truckloads to and from South Dakota, North Dakota, Southern Illinois; St Louis, Missouri; Southeast Missouri; Evansville, IN; Nashville, Tennessee; Memphis, Tennessee and Chicago land areas et al.

We will in the nearest future provide cross docking, warehousing, lift gate and specialized van service in South Dakota, North Dakota, Southern Illinois, Southeast Missouri and Western Kentucky.

Robson Graham® Truck Service Inc. has been able to secure all relevant licenses and permits to operate throughout the United States and Canada. We will ensure that we abide by the rules and regulations of the trucking industry and when it is time for us to expand the business; we will only hire experienced and qualified drivers with valid commercial driver’s license (CDL).

Our customers and potential customers alike can be rest assured that they will get quality services at competitive rates. We will go the extra mile to ensure the safety of goods under our care and our customers get value for their money.

At Robson Graham® Truck Service Inc. our goal is to provide excellent service to our customers and we pride ourselves on the integrity and competence of our company and our employees. Robson Graham® Truck Service Inc. will ensure that all our deliveries are on time and we supersede the expectation of our customers.

We will only put trucks that are in top shape on the road, and all our drivers will be trained to be courteous, friendly and to abide by the rules and regulations of the industry. We will maintain and take proper care of our drivers as well as our trucks and equipment.

Robson Graham® Truck Service Inc. is a family business; it is owned by Robson Graham and his immediate family members. Robson Graham is a professional truck driver with a valid commercial driver’s license (CDL) with a diploma in Transport and Logistics Management and his has over 5 years of experience in the transportation industry.

Although the company is starting out as a truck owner operator business, but plans are in place to expand the business and operate a fulltime trucking company with more than a handful of fulltime commercial truck drivers.

3. Our Products and Services

Robson Graham® Truck Service Inc. is a company that looks forward to deliver excellent services in terms of helping our customers move goods and equipment from one destination to another destination. Even though we are starting out as a truck owner operator business, we want to be known as the trucking company that truly cares for her customers.

We are in the trucking industry to make profits and also to give our customers value for their money. We will ensure that we do all that is permitted by the law in the United States of America to accomplish our business goal and objective. Our business offerings are listed below;

• Moving supplies
• All furniture quilt-wrapped for protection
• On-time pickup and delivery
• Home and office movement
• Local and long distance movement
• Heavy duty equipment movement
• Excavators movement
• Bulldozers movement
• Construction equipment movement
• Agricultural equipment movement
• Movement of oil and gas products

4. Our Mission and Vision Statement

• Our Vision is to become one of the preferred choices for individual and organization when it comes to the demand for trucking services in the whole of the United States of America.
• Our mission is to ensure that we build a truck owner operator company cum trucking company that will operate in the whole of the United States of America and Canada; a company that will boast of having some of the best and reliable commercial truck drivers in the whole of the United States of America.

Our Business Structure

Despite the fact that we are starting out with just one 40Tons truck as a truck owner operator company, we will still go ahead to put business structure in place that will accommodate the kind of standard trucking company that we want to build. Our business structure will be designed in such a way that it can accommodate both full – time employees and part – time / contract staff; those who just want to take some time off to generate additional incomes.

We make provision to engage full time employees (t ruck drivers, professional material handlers / yard spotters and back office staff ) and some of the available driving roles will be handled by qualified contract drivers when the business fully kick off as a standard trucking company.

But for now, all the available roles will be played / occupied by the owner Robson Graham, except for some roles that can be contracted out as our sources of income increases. For now, we will contract the maintenance of our truck to service provider, we don’t intend to maintain a very any overhead due to the nature of the business.

But as soon as the business grow and stabilize, we will assemble our own in – house maintenance team. Below is the business structure and the roles that will be available at Robson Graham® Truck Service Inc.;

• Chief Operating Officer (Owner)
• Admin and HR Manager (Owner)
• Transport and Logistics Manager (Owner)
• Marketing and Sales Executive (Owner)
• Accountant (Owner)
• Truck Driver (Owner)
• Material Handlers / Yard Spotters / Forklifts Operators(Contract)
• Customer Services Executive / Front Desk Officer

5. Job Roles and Responsibilities

Chief Operating Officer (Owner):

• Increases management’s effectiveness by recruiting, selecting, orienting, training, coaching, counseling, and disciplining managers; communicating values, strategies, and objectives; assigning accountabilities; planning, monitoring, and appraising job results; developing incentives; developing a climate for offering information and opinions; providing educational opportunities.
• Creates, communicates, and implements the organization’s vision, mission, and overall direction – i.e. leading the development and implementation of the overall organization’s strategy.
• Responsible for fixing prices and signing business deals
• Responsible for providing direction for the business
• Responsible for signing checks and documents on behalf of the company
• Evaluates the success of the organization

Transport and Logistics Manager

• coordinates drivers, vehicles, loads and journeys
• operating IT systems
• negotiates and agreeing contracts
• develops and confirming schedules
• plans for and negotiating technical difficulties
• prepares paperwork for regulatory bodies
• liaises and managing staff
• implements health and safety standards
• Plans routes and load scheduling for multi-drop deliveries.
• Books in deliveries and liaising with customers.
• Allocates and records resources and movements on the transport planning system.
• Ensures all partners in the supply chain are working effectively and efficiently to ensure smooth operations.
• Communicating effectively with clients and responding to their requirements.
• Directs all transportation activities.
• Develops transportation relationships.
• Monitors transport costs.
• Negotiates and bargains transportation prices.
• Deals with the effects of congestion.
• Confronts climate change issues by implementing transport strategies and monitoring an organization’s carbon footprint.

Admin and HR Manager

• Responsible for overseeing the smooth running of HR and administrative tasks for the organization
• Designs job descriptions with KPI to drive performance management for clients
• Regularly hold meetings with key stakeholders to review the effectiveness of HR Policies, Procedures and Processes
• Maintains office supplies by checking stocks; placing and expediting orders; evaluating new products.
• Ensures operation of equipment by completing preventive maintenance requirements; calling for repairs.
• Defines job positions for recruitment and managing interviewing process
• Carrying out staff induction for new team members
• Responsible for training, evaluation and assessment of employees
• Responsible for arranging travel, meetings and appointments
• Updates job knowledge by participating in educational opportunities; reading professional publications; maintaining personal networks; participating in professional organizations.
• Oversees the smooth running of the daily office activities.

Marketing and Sales Executives (Business Developers)

• Identifies, prioritizes, and reaches out to new clients, and business opportunities et al
• Identifies development opportunities; follows up on development leads and contacts; participates in the structuring and financing of projects; assures the completion of projects.
• Writes winning proposal documents, negotiate fees and rates in line with organizations’ policy
• Responsible for handling business research, market surveys and feasibility studies for clients
• Responsible for supervising implementation, advocate for the customer’s needs, and communicate with clients
• Develops, executes and evaluates new plans for expanding increase sales
• Documents all customer contact and information
• Represents Robson Graham® Truck Service Inc. in strategic meetings
• Helps to increase sales and growth for Robson Graham® Truck Service Inc.
• Responsible for preparing financial reports, budgets, and financial statements for the organization
• Provides managers with financial analyses, development budgets, and accounting reports; analyzes financial feasibility for the most complex proposed projects; conducts market research to forecast trends and business conditions.
• Responsible for financial forecasting and risks analysis.
• Performs cash management, general ledger accounting, and financial reporting for one or more properties.
• Responsible for developing and managing financial systems and policies
• Responsible for administering payrolls
• Ensuring compliance with taxation legislation
• Handles all financial transactions for the company
• Serves as internal auditor for the company

Commercial Truck Driver

• Assists in loading and unloading goods / materials
• Maintains a logbook of their driving activities to ensure compliance with federal regulations governing the rest and work periods for operators.
• Keeps a record of vehicle inspections and make sure the truck is equipped with safety equipment, such as hazardous material placards.
• Assists the transport and logistics manager in planning their route according to a pick – up and delivery schedule.
• Inspect vehicles for mechanical items and safety issues and perform preventative maintenance
• Complies with truck driving rules and regulations (size, weight, route designations, parking, break periods etc.) as well as with company policies and procedures
• Collects and verifies delivery instructions
• Reports defects, accidents or violations

Material Handlers / Yard Spotters / Forklift Operators

• Responsible for handling core services such as operating forklifts, loading and unloading materials from trucks and vans, packing and packing goods et al
• Handles general services that involves the transportation of goods from one location to another location
• Maintains a clean working area by sweeping, vacuuming, dusting, cleaning of glass doors and windows, etc. if required.
• Handles any other duty as assigned by the transport and logistics manager.

Customer Service Officer

• Welcomes clients and visitors by greeting them in person or on the telephone; answering or directing inquiries.
• Ensures that all contacts with clients (e-mail, walk-In center, SMS or phone) provides the client with a personalized customer service experience of the highest level
• Through interaction with clients on the phone, uses every opportunity to build client’s interest in the company’s products and services
• Manages administrative duties assigned by the manager in an effective and timely manner
• Consistently stays abreast of any new information on the organizations’ products and, promotional campaigns etc. to ensure accurate and helpful information is supplied to clients when they make enquiries

6. SWOT Analysis

Going by our vision, our mission and the kind of business we want to set – up, we don’t have any other option than to follow due process. Following due process involves hiring business consultant to help us conduct SWOT analysis for our business.

Robson Graham® Truck Service Inc. hired the services of a seasoned business consultant with bias in start – ups in the U.S. to help us conduct a thorough SWOT analysis and to guide us in formulating other business strategies that will help us grow our business and favorable compete in Trucking industry.

As a company, we look forward to maximizing our strength and opportunities and also to work around our weaknesses and threats. Here is a summary from the result of the SWOT analysis that was conducted on behalf of Robson Graham® Truck Service Inc.;

Our area of strengths as a truck owner operator business are reliability, honesty, adequate experience, cost advantages, customer loyalty and strong reputation amongst domestic and industry players and our transportation network serves some of the largest population centers in the U.S. Basically, our business is centrally located in a densely populated industrial and residential estate in South Dakota; our location is in fact one of our major strength.

Our weakness could be lack of finance, high debt burden, cost structure, lack of scale compared to our peers who have already gained ground in the industry. As a new truck owner operator business, which is owned by an individual (family) with just one truck, we may not have the financial muscle to sustain the kind of publicity we want to give our business. We are also aware that it will take time for us to build trust with our clients.

• Opportunities:

The opportunities that are available to us as a truck owner operator business in the United States are online market, new services, new technology, and of course the opening of new markets. We are centrally located in one of the busiest industrial area in South Dakota and we are open to all the available opportunities that the city has to offer.

Our business concept also positioned us to be the preferred choice in South Dakota. The truth is that there are no standard and well – equipped truck owner operator companies within the area where ours is going to be located; the closest truck owner operator company to our proposed location is about 15 miles away. In a nutshell, we do not have any direct competition within our target market area.

Some of the threats that we are likely going to face are mature markets, bad economy (economy downturn), stiff competition, volatile costs, and rising fuel prices.

Other threats that are likely going to confront Robson Graham® Truck Service Inc. are unfavorable government policies, seasonal fluctuations, demographic / social factors, downturn in the economy which is likely going to affect consumers spending and of course emergence of new competitors within the same location where ours is located.

7. MARKET ANALYSIS

• Market Trends

The market trends as it involves the trucking industry especially in the United States and Canada, is indeed dynamic and at the same time challenging.

But one thing is certain, once a truck owner operator can gain credibility, it will be much easier for the company to secure permanent deals / contracts with big time merchants, haulage companies and warehouse operators who are involved in moving goods and materials from one location to another on a regular basis

The demand for the services of truck owner operator companies is highly correlated with consumer spending. With the advancement of technology and the sole need for every individual to live in a comfortable house, the trucking industry keeps souring high, and as home sellers, buyers and renters prepare for season, hiring professional movers is likely to be on their moving checklists.

It is anticipated that the five below trends will be prevalent in the trucking industry. No doubt some of the major factors that count positively in this line of business are competence, trust, honesty, robust network, good relationship management and of course timely and safe pick – ups and deliveries.

8. Our Target Market

Our target market is basically every one (organizations and individual as well who have cause to move goods and materials from one location to another. In other words, our target market is the whole of the United States of America and below is a list of the people and organizations that we have plans to do business with;

• Merchants and Warehouse Operators
• Retailers who would want to move their goods from one locations to another
• Manufacturers ( Chemical manufacturers, and Textiles manufactures et al )
• Households who would want to move from one apartment to another
• Corporate organizations who would want to move from one office to another
• Government agencies who have cause to mover goods and materials from one location to another location
• Non – Profits and Charity organizations that have cause to move goods and materials from one location to another.

Our competitive advantage

Surviving in the business world as a truck owner operator requires more than your expertise, knowing how to deliver on time but also how to network with key people that matters; decision makers that can decide who will get a haulage contract.

Our major competitive advantage is the vast industry experience and solid reputation of the owner of the business Robson Graham. Robson Graham® Truck Service Inc. no doubt is a new truck owner operating company, which is why we took our time to do a thorough homework before launching the business.

We were able to highlight some factors that will give us competitive advantage in the marketplace; some of the factors reliability, honesty, adequate experience, cost advantages, customer loyalty and strong reputation amongst domestic and industry players and our transportation network serves some of the largest population centers in the U.S.

Basically, our business is centrally located in a densely populated industrial and residential estate in South Dakota; our location is in fact one of our major strength.

Another competitive advantage that we are bringing to the industry is the fact that we have designed our business in such a way that we can comfortably work with both individuals who may want to make use of small trucks and also big conglomerates who are involved in massive movement of goods and materials from one locations to another on a regular basis.

Lastly, all our employees will be well taken care of, and their welfare package will be among the best within our category (startups truck owner operator companies in the United States) in the industry. It will enable them to be more than willing to build the business with us and help deliver our set goals and achieve all our business aims and objectives.

9. SALES AND MARKETING STRATEGY

• Sources of Income

Robson Graham® Truck Service Inc. will ensure that we leverage on our strength and the opportunities available to us in the U.S. market to generate enough income that will help us drive the business to stability (from a one-man business to a standard trucking company with loads of fulltime employees).

We will go all the way to explore every available source of income in the trucking industry. Below are the sources we intend exploring to generate income for Robson Graham® Truck Service Inc.;

10. Sales Forecast

One thing is certain, there would always be corporate organization, government agencies, households and individual who would need the services of truck owner operator companies from time to time.

We are well positioned to take on the available market in the U.S. and we are quite optimistic that we will meet our set target of generating enough income / profits from the first month or operations and grow the business and clientele beyond South Dakota to other states in the U.S. and Canada

We have been able to critically examine the trucking industry and we have analyzed our chances in the industry and we were able to come up with the following sales forecast. The sales projections are based on information gathered on the field and some assumptions that are peculiar to similar startups in the United States of America.

Below are the sales projections for Robson Graham® Truck Service Inc., it is based on the location of our business and our competitive advantage;

• First Fiscal Year-: $120,000
• Second Fiscal Year-: $250,000
• Third Fiscal Year-: $600,000

N.B : This projection is done based on what is obtainable in the industry and with the assumption that there won’t be any major economic meltdown and there won’t be any major competitor offering same truck owner operator services as we do within same location. Please note that the above projection might be lower and at the same time it might be higher.

• Marketing Strategy and Sales Strategy

The marketing strategy for Robson Graham® Truck Service Inc. is going to be driven basically by professionalism, excellent customer service, honesty and quality service delivery. We will ensure that we build a loyal customer base. We want to drive sales via the output of our jobs and via referral from our satisfied customers. We are quite aware of how satisfied customers drive business growth especially businesses like moving and storage services.

Robson Graham® Truck Service Inc. is a business that is strategically located and we are going to maximize the opportunities that is available which is why we spend more to locate the business in a location that will be visible and enable us to access our target market.

In future when we expand the business from truck owner operator business to standard trucking company, our sales and marketing team will be recruited based on their vast experience in the industry and they will be trained on a regular basis so as to be well equipped to meet their targets and the overall goal of Robson Graham® Truck Service Inc.

Our goal is to grow Robson Graham® Truck Service Inc. from a one-man business (truck owner operator business) to become the trucking company in South Dakota which is why we have mapped out strategy that will help us take advantage of the available market and grow to become a major force to reckon with in the Trucking industry.

Robson Graham® Truck Service Inc. is set to make use of the following marketing and sales strategies to attract clients;

• Introduce our truck owner operator business by sending introductory letters alongside our brochure to corporate organizations who are into manufacturing, merchants and warehouse operators, households and key stake holders in South Dakota
• Print out fliers and business cards and strategically drop them in offices, libraries, public facilities and train stations et al.
• Use friends and family to spread word about our business
• Post information about our company and the services we offer on bulletin boards in places like schools, libraries, and local coffee shops et al
• Placing a small or classified advertisement in the newspaper, or local publication about our company and the services we offer
• Leverage on referral networks such as agencies that will attract clients who would need our customized services
• Advertise our business in relevant magazines, newspapers, TV stations, and radio station.
• Attend relevant expos, seminars, and business fairs et al to market our services
• Engage in direct marketing approach
• Encourage the use of Word of mouth marketing from loyal and satisfied students
• Join local chambers of commerce and industry to network and to market our services.

11. Publicity and Advertising Strategy

Any business that wants to grow beyond the corner of the street they are operating must be ready and willing to utilize every available means (conventional and non – conventional means) to advertise and promote the business. We intend growing our business beyond South Dakota which is why we have perfected plans to build our brand via every available means.

We have been able to work with our brand and publicity consultants to help us map out publicity and advertising strategies that will help us walk our way into the heart of our target market.

We are set to become the number one choice for both corporate clients and households in the whole of South Dakota and beyond which is why we have made provisions for effective publicity and advertisement of our truck owner operator business.

Below are the platforms Robson Graham® Truck Service Inc. intend leveraging on to promote and advertise our trucking business;

• Place adverts on both print (newspapers and magazines) and electronic media platforms
• Sponsor relevant community based events / programs
• Leverage on the internet and social media platforms like; Instagram, Facebook, Twitter, YouTube, Google + et al to promote our services
• Install our Bill Boards on strategic locations all around South Dakota
• Engage in road show from time to time in targeted neighborhoods
• Distribute our fliers and handbills in target areas
• Contact corporate organizations and households and corporate organizations by calling them up and informing them of Robson Graham® Truck Service Inc. and the services we offer
• List our company in local directories / yellow pages
• Advertise our company in our official website and employ strategies that will help us pull traffic to the site.
• Ensure that all our staff members wear our branded shirts and all our trucks and vans are well branded with our company logo et al.

12. Our Pricing Strategy

Robson Graham® Truck Service Inc. has a lease arrangement with car / truck dealership shop and the company’s pricing is going to be based on miles per thousands of tons of goods and materials transported. We have perfected our plans to charge competitive rates since we have minimal overhead compared to our competition in the industry.

We will ensure that we leverage on price to win over customers; our prices will be affordable and negotiable. The fact that our business door is open to both individuals and corporate organizations means that we will have different price range for different category of clients.

We are aware that there are some one – off jobs or government contracts which are always lucrative, we will ensure that we abide by the pricing model that is expected from contractors or organizations that bid for such contracts. As the business grows, we will continue to review our pricing system to accommodate a wide range of clientele.

• Payment Options

The payment policy adopted by Robson Graham® Truck Service Inc. is all inclusive because we are quite aware that different customers prefer different payment options as it suits them but at the same time, we will ensure that we abide by the financial rules and regulation of the United States of America.

Here are the payment options that Robson Graham® Truck Service Inc. will make available to her clients;

• Payment via bank transfer
• Payment with cash
• Payment via credit cards / Point of Sale Machines (POS Machines)
• Payment via online bank transfer
• Payment via check
• Payment via mobile money transfer
• Payment via bank draft

In view of the above, we have chosen banking platforms that will enable our client make payment for our services without any stress on their part. Our bank account numbers will be made available on our website and promotional materials to clients who may want to deposit cash or make online transfer for our services.

13. Startup Expenditure (Budget)

In setting up any business, the amount or cost will depend on the approach and scale you want to undertake. If you intend to go big by renting a place, then you would need a good amount of capital as you would need to ensure that your employees are well taken care of, and that your facility is conducive enough for workers to be creative and productive.

This means that the start-up can either be low or high depending on your goals, vision and aspirations for your business. The tools and equipment that will be used are nearly the same cost everywhere, and any difference in prices would be minimal and can be overlooked.

As for the detailed cost analysis for starting a truck owner operator business; it might differ in other countries due to the value of their money. However, this is what it would cost us to start Robson Graham® Truck Service Inc. in the United of America;

• The total fee for incorporating the business in the United States of America – $750.
• The budget for liability insurance, permits and license – $5,500
• The amount required to finance the purchase of the first 40 Ton Truck including maintenance and servicing for the for a year – $40,000
• The cost for equipping a small office (computers, printers, fax machines, furniture, telephones, filing cabins, safety gadgets and electronics et al): $5,000
• The cost for the purchase of accounting software, CRM software and Payroll Software – $3,000
• Other start-up expenses including stationery – $1000
• Phone and Utilities (gas, sewer, water and electric) deposits – ( $3,500 ).
• Operational cost for the first 3 months (fueling, payments of bills et al) – $10,000
• The cost of Launching our official Website: $600
• Additional Expenditure (Business cards, Signage, Adverts and Promotions et al): $2,500

Going by the report from our market research and feasibility studies, we will need about $70,000 to set up a truck owner operator business in South Dakota.

Generating Funds / Startup Capital for Robson Graham® Truck Service Inc.

Robson Graham® Truck Service Inc. is set to start as a private business that will be solely owned and managed by Robson Graham and his immediate family members. They will be the sole financial of the company but may likely welcome other business partners when need for expansion arises.

These are the areas we intend generating our start – up capital;

• Generate part of the start – up capital from personal savings and sale of his stocks
• Generate part of the start – up capital from friends and other extended family members
• Generate a larger chunk of the startup capital from the bank (loan facility).

N.B: We have been able to generate about $20,000 ( Personal savings $15,000 and soft loan from family members 5,000 ) and we are at the final stages of obtaining a loan facility of $50,000 from our bank. All the papers and document has been duly signed and submitted, the loan has been approved and any moment from now our account will be credited.

14. Sustainability and Expansion Strategy

Robson Graham® Truck Service Inc. is a business that was established with the aim of covering the whole of South Dakota and other cities in the United States of America.

We have invested a whole lot of money in the business and we would not want to see our investment go down the drain which is why we hired a core business structuring professional to help us put strategies and structure in place that will help us grow the business from a one man business to a standard trucking company.

One of our major goals of starting Robson Graham® Truck Service Inc. is to build a business that will survive off its own cash flow without the need for injecting finance from external sources once the business is officially running.

We know that one of the ways of gaining approval and winning customers over is to offer our trucking services a little bit cheaper than what is obtainable in the market and we are well prepared to survive on lower profit margin for a while.

At Robson Graham® Truck Service Inc., we will make sure that the right foundation, structures and processes are put in place to ensure that our staff welfare are well taken of. Our company’s corporate culture is designed to drive our business to greater heights and training and re – training of our workforce is at the top burner.

As a matter of fact, profit-sharing arrangement will be made available to all our management staff and it will be based on their performance for a period of three years or more. We know that if that is put in place, we will be able to successfully hire and retain the best hands we can get in the industry; they will be more committed to help us build the business of our dreams.

Check List / Milestone

• Business Name Availability Check: Completed
• Business Incorporation: Completed
• Opening of Corporate Bank Accounts various banks in the United States: Completed
• Opening Online Payment Platforms: Completed
• Application and Obtaining Tax Payer’s ID: In Progress
• Application for business license and permit: Completed
• Purchase of All form of Insurance for the Business: Completed
• Acquiring of trucks, vans and forklifts: In progress
• Renting of Office Facility (Yard) in South Dakota: In Progress
• Conducting Feasibility Studies: Completed
• Start – up Capital Generation: Completed
• Writing of Business Plan: Completed
• Drafting of Employee’s Handbook: Completed
• Drafting of Contract Documents: In Progress
• Design of The Company’s Logo: Completed
• Graphic Designs and Printing of Packaging Marketing / Promotional Materials: Completed
• Recruitment of employees and drivers: In Progress
• Purchase of the needed furniture, office equipment, electronic appliances and facility facelift: In progress
• Creating Official Website for the Company: In Progress
• Creating Awareness for the business (Business PR): In Progress
• Health and Safety and Fire Safety Arrangement: In Progress
• Establishing business relationship with key players in the industry (networking and membership of relevant organizations and chambers of commerce): Completed
• Purchase of a 40 ton truck: Completed

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How to Write a Trucking Business Plan + Example Templates

Elon Glucklich

8 min. read

Updated October 31, 2023

Among the biggest threats to the economy during the COVID-19 pandemic was its impact on supply chains. Production stoppages created bottlenecks, leading to delayed orders and higher fulfillment costs. 

Truck drivers stepped up. The U.S. trucking industry generated a record $875 billion in revenue in 2021 , according to industry data. And truck drivers transported nearly three-quarters of the nation’s freight.

Today, there is more demand than ever for truck drivers to move imported and domestic goods from ports and production facilities to homes and businesses across the country. And with over 95% of registered trucking companies having 10 or fewer trucks in their fleet, there are opportunities today for entrepreneurs with experience in trucking to start a business. 

But there are also major hurdles to getting a trucking business up and running. You need the right licenses and permits. You’ll need to hire qualified drivers and maintain your fleet of trucks. You have to account for costs like insurance and fuel – all of this in addition to generating customer leads that will put cargo in your trucks and grow your business.

Because of the careful planning and attention to details involved, it’s crucial to have a solid business plan in place to map out your vision, structure, and operational processes in the transportation industry.

• Why You Need a Business Plan for Your Trucking Business

Trucking businesses need to navigate a patchwork of state and federal regulations. Then there are practical business decisions: Will you be operating private carriers who have the backing of a larger company, or will you employ for-hire carriers hauling the cargo of anyone willing to pay? How much startup funding will you need to purchase a fleet, hire and train drivers?  

Free Download: Sample Trucking Business Plan Template

A business plan will help you determine the startup costs you’ll need for staffing, licensing and insurance. An effective business plan will also help you determine the best strategic opportunities for your business through an analysis of market opportunities and challenges. In this guide, we’ll show you how to tailor your business plan to meet the needs of the trucking industry. You can even download a free trucking business plan template to help get you started.

• Understanding Industry Regulations

Operating within the legal and regulatory framework is both complex and crucial in the trucking industry. New rules and regulations are often under consideration by governing bodies like the U.S. Department of Transportation (DOT), the Federal Motor Carrier Safety Administration (FMCSA) and the National Highway Safety Administration – not to mention state regulations. A successful trucking business owner must understand and navigate the wide range of compliance issues that can arise.

A good place to start in your business plan is to compile a detailed list of these legal requirements. Doing so demonstrates your understanding of federal and state guidelines that your company needs to adhere to, as well as your preparedness to stay on top of ongoing compliance issues.

Start by detailing the major regulations that apply to your business. This may include driver compliance requirements (which we will get into in more detail about later), hours of service regulations that dictate how long drivers can operate without rest, safety regulations like regular vehicle inspections, maintenance, and repair, and any specific regulations related to the type of cargo you plan to transport.

Next, explain the steps you will take to keep your trucking business in compliance. These could include regular driver training programs, and the implementation of electronic logging device software to help you monitor and report driving time and hours of service records. You will also need to discuss your insurance strategy – whether and what types of insurance you plan to provide for driver liability or damage to cargo.

Including these details in your business plan shows potential investors, lenders, and other stakeholders that you’re serious about reducing potential legal risks and responding to compliance reviews or audits. It also demonstrates your commitment to running a professional and reliable trucking business.

• Hiring Qualified Drivers

It goes without saying that you can’t operate a trucking business without qualified drivers. And that can be a frustrating challenge. Due to an aging workforce, the trucking industry faced its second-largest number of job vacancies on record in 2022 . To overcome this challenge, you will need to detail a plan to attract, hire, and retain qualified truck drivers.

Begin by detailing the qualifications you’re looking for in drivers. It’s standard to require a certain level of experience and a clean driving record, but you should also consider whether you require specific Commercial Driver’s License endorsements based on the type of freight you plan to haul.

Next, outline your plans for driver training and professional development. Even experienced drivers need to be trained in company procedures and updated on industry regulations. Providing ongoing professional development opportunities can help keep your drivers engaged and committed to their jobs, and detailing those programs in your business plan shows that you are invested in your employees’ growth and success, which can be a significant selling point for job seekers.

You will also need to outline the incentives or benefits you’ll offer to attract and retain top talent. Given the staffing challenges, you should research trucking wages in your area and determine competitive pay, benefits and driver schedules based on that analysis. The trucking industry is known for its high turnover rate, so demonstrating your plans for driver retention is crucial.

• Fleet Management

Another key aspect to cover in your trucking business plan is your fleet management strategy. You will want to detail the type and number of vehicles you plan to start operating with. These details not only determine your initial capacity, but provide lenders or investors with a clearer upfront understanding of your startup costs.

You should be able to provide plenty of details about the specifications of your fleet – whether you’re operating with flatbeds, refrigerated trucks, or dry vans. Your needs will largely depend on the type of goods you plan to transport, so detailing these will help you focus your initial investments on your most pressing business needs.

Your plan should also explain how you will maintain your vehicles. And as your business grows, a fleet expansion may be necessary, as well as replacing older trucks. The fleet management section of your business plan should include the full range of details about whether you plan to lease or buy trucks, and how you will handle routine maintenance, such as hiring a dedicated in-house mechanic or contracting with a third-party service. Considering these factors in your business plan increases the likelihood you will be prepared to keep providing reliable service in the event of a disruption.

• Finding Clients

You’ve completed your compliance checklist, you’ve hired drivers and purchased your fleet. Now, who is going to give you their business?

You will need to dedicate a lot of space in your business plan to developing a comprehensive marketing and client acquisition strategy. Start by identifying your target market: Are you focusing on local deliveries, or long-haul services? Maybe there’s a specific type of cargo you plan to transport, like refrigerated goods or hazardous materials. Understanding your target market’s unique needs will help you tailor your services and differentiate your business from competitors. 

Next, discuss the tactics you’ll use to reach potential clients. These could include online advertising, cold calling, attending industry networking events or seeking out partnerships with other businesses. Focus on the strategies that best align with your target market and business model.

Referrals are a great source of business in the trucking industry. Take time in your business plan to discuss how you might be able to retain clients and encourage referrals, whether by offering fast delivery times, exceptional customer service, competitive pricing or other methods.

Finally, describe how you plan to retain clients and encourage referrals. This could involve superior customer service, competitive pricing, or value-added services. Client retention is often more cost-effective than client acquisition, and a high referral rate can significantly boost your reputation and bottom line. Outlining these long-term client development strategies in your business plan signals to lenders or potential investors that you’re focused on the long-term growth of your business.

• Fuel Costs and Efficiency

Fuel costs make up a significant portion of trucking company costs, and they can be among the  least predictable costs to forecast for a trucking business. So taking time in your business plan to show that you have a strategy for managing fuel costs and maximizing fuel efficiency in your business plan is critical.

You can use the business plan to explore your strategies for maintaining your fleet for optimal fuel efficiency. Regular maintenance checks can ensure your trucks are running at their best, maximizing miles per gallon and reducing the likelihood of costly breakdowns. Explain your planned maintenance schedule and how you’ll enforce it.

You can also consider technology investments like the use of route optimization software to plan the most efficient routes, as well as how you will train drivers to use fuel-efficient driving techniques like progressive shifting and minimizing idling time. Discuss how you plan to monitor fuel consumption and efficiency, such as through a telematics system to track fuel consumption data in real-time, allowing you to identify any issues quickly and adjust strategies as needed. By addressing fuel costs and efficiency in your business plan, you can show that you’re being proactive in addressing one of the biggest costs in your business.

• Download a free trucking business plan template and example

To help get your business started, check out our free trucking business plan template . You can download this document in Word form and use it as a foundation for your own business plan.

In addition to these resources, you may want to brush up on how to write specific sections of a traditional business plan. If so, take a look at our step-by-step guide on how to write a business plan .

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Elon is a marketing specialist at Palo Alto Software, working with consultants, accountants, business instructors and others who use LivePlan at scale. He has a bachelor's degree in journalism and an MBA from the University of Oregon.

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How To Write a Winning Owner Operator Business Plan + Template

Creating a business plan is essential for any business, but it can be especially helpful for owner operator trucking businesses who want to improve their strategy and/or raise funding.

A well-crafted business plan not only outlines the vision for your company, but also documents a step-by-step roadmap of how you are going to accomplish it. In order to create an effective business plan, you must first understand the components that are essential to its success.

This article provides an overview of the key elements that every owner operator trucking business owner should include in their business plan.

Download the Ultimate Trucking Business Plan Template

What is an Owner Operator Trucking Business Plan?

An owner operator  business plan is a formal written document that describes your company’s business strategy and its feasibility. It documents the reasons you will be successful, your areas of competitive advantage, and it includes information about your team members. Your business plan is a key document that will convince investors and lenders (if needed) that you are positioned to become a successful venture.

Why Write an Owner Operator Trucking Business Plan?

An owner operator trucking business plan is required for banks and investors. The document is a clear and concise guide of your business idea and the steps you will take to make it profitable.

Entrepreneurs can also use this as a roadmap when starting their new company or venture, especially if they are inexperienced in starting a business.

Writing an Effective Owner Operator Business Plan

The following are the key components of a successful owner operator business plan:

Executive Summary

The executive summary of an owner operator business plan is a one to two page overview of your entire business plan. It should summarize the main points, which will be presented in full in the rest of your business plan.

• Start with a one-line description of your owner operator trucking company
• Provide a short summary of the key points in each section of your business plan, which includes information about your company’s management team, industry analysis, competitive analysis, and financial forecast among others.

Company Description

This section should include a brief history of your company. Include a short description of how your company started, and provide a timeline of milestones your company has achieved.

If you are just starting your owner operator trucking business , you may not have a long company history. Instead, you can include information about your professional experience in this industry and how and why you conceived your new venture. If you have worked for a similar company before or have been involved in an entrepreneurial venture before starting your owner operator trucking firm, mention this.

Industry Analysis

The industry or market analysis is an important component of an owner operator business plan. Conduct thorough market research to determine industry trends and document the size of your market. 

Questions to answer include:

• What part of the owner operator trucking industry are you targeting?
• How big is the market?
• What trends are happening in the industry right now (and if applicable, how do these trends support the success of your company)?

You should also include sources for the information you provide, such as published research reports and expert opinions.

Customer Analysis

This section should include a list of your target audience(s) with demographic and psychographic profiles (e.g., age, gender, income level, profession, job titles, interests). You will need to provide a profile of each customer segment separately, including their needs and wants.

For example, an owner operator trucking business’ customers may include businesses that need to transport goods or individuals who need to move their belongings from one location to another.

You can include information about how your customers make the decision to buy from you as well as what keeps them buying from you.

Develop a strategy for targeting those customers who are most likely to buy from you, as well as those that might be influenced to buy your products or owner operator trucking services with the right marketing.

Competitive Analysis

The competitive analysis helps you determine how your product or service will be different from competitors, and what your unique selling proposition (USP) might be that will set you apart in this industry.

For each competitor, list their strengths and weaknesses. Next, determine your areas of competitive differentiation and/or advantage; that is, in what ways are you different from and ideally better than your competitors.

Marketing Plan

This part of the business plan is where you determine and document your marketing plan. . Your plan should be clearly laid out, including the following 4 Ps.

• Product/Service : Detail your product/service offerings here. Document their features and benefits.
• Price : Document your pricing strategy here. In addition to stating the prices for your products/services, mention how your pricing compares to your competition.
• Place : Where will your customers find you? What channels of distribution (e.g., partnerships) will you use to reach them if applicable?
• Promotion : How will you reach your target customers? For example, you may use social media, write blog posts, create an email marketing campaign, use pay-per-click advertising, launch a direct mail campaign. Or you may promote your owner operator trucking business via word-of-mouth marketing.

Operations Plan

This part of your owner operator business plan should include the following information:

• How will you deliver your product/service to customers? For example, will you do it in person or over the phone only?
• What infrastructure, equipment, and resources are needed to operate successfully? How can you meet those requirements within budget constraints?

The operations plan is where you also need to include your company’s business policies. You will want to establish policies related to everything from customer service to pricing, to the overall brand image you are trying to present.

Finally, and most importantly, in your Operations Plan, you will lay out the milestones your company hopes to achieve within the next five years. Create a chart that shows the key milestone(s) you hope to achieve each quarter for the next four quarters, and then each year for the following four years. Examples of milestones for an owner operator trucking business include reaching $X in sales. Other examples include adding new services, expanding into a new geographic market, and hiring new personnel.

Management Team

List your team members here including their names and titles, as well as their expertise and experience relevant to your specific owner operator trucking industry. Include brief biography sketches for each team member.

Particularly if you are seeking funding, the goal of this section is to convince investors and lenders that your team has the expertise and experience to execute on your plan. If you are missing key team members, document the roles and responsibilities you plan to hire for in the future.

Financial Plan

Here you will include a summary of your complete and detailed financial plan (your full financial projections go in the Appendix). 

This includes the following three financial statements:

Income Statement

Your income statement should include:

• Revenue : how much revenue you generate.
• Cost of Goods Sold : These are your direct costs associated with generating revenue. This includes labor costs, as well as the cost of any equipment and supplies used to deliver the product/service offering.
• Net Income (or loss) : Once expenses and revenue are totaled and deducted from each other, this is the net income or loss.

Sample Income Statement for a Startup Owner Operator Trucking Company

Balance sheet.

Include a balance sheet that shows your assets, liabilities, and equity. Your balance sheet should include:

• Assets : All of the things you own (including cash).
• Liabilities : This is what you owe against your company’s assets, such as accounts payable or loans.
• Equity : The worth of your business after all liabilities and assets are totaled and deducted from each other.

Sample Balance Sheet for a Startup Owner Operator Trucking Company

Cash flow statement.

Include a cash flow statement showing how much cash comes in, how much cash goes out and a net cash flow for each year. The cash flow statement should include:

• Cash Flow From Operations
• Cash Flow From Investments
• Cash Flow From Financing

Below is a sample of a projected cash flow statement for a startup owner operator trucking business.

Sample Cash Flow Statement for a Startup Owner Operator Trucking Company

You will also want to include an appendix section which will include:

• Your complete financial projections
• A complete list of your company’s business policies and procedures related to the rest of the business plan (marketing, operations, etc.)
• Any other documentation which supports what you included in the body of your business plan.

Writing a good business plan gives you the advantage of being fully prepared to launch and/or grow your owner operator trucking company. It not only outlines your business vision but also provides a step-by-step process of how you are going to accomplish it.

A well-written business plan is an essential tool for any owner operator trucking business. If you plan to seek financing, investors, or partners, you’ll need a  business plan. Even if you’re not looking for funding, a business plan can still be a helpful tool to organize your thoughts and map out your company’s future.  

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With our Ultimate Trucking Business Plan Template you can finish your plan in just 8 hours or less!

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Create a Business Plan for Trucking as an Owner Operator

Starting a successful trucking business in 2024 as an owner-operator can be a profitable venture, but it requires careful planning and a solid business plan. Such a plan is essential for any business startup, including being a truck driver, as it outlines the company’s goals, operations, and financial projections. A well-crafted business plan can help secure funding, attract investors, and set your own trucking business on the path to success. You may be able to find a great business plan template by other entrepreneurs out there to act as a roadmap but we will break down some of the key points here. In this article, we will guide you through the steps to create a small business plan for your trucking business as an owner-operator.

Determine Your Business Structure

Before you start writing your business plan, you need to determine your business structure. There are several types of business owners, including sole proprietorship, partnership, limited liability company (LLC),and corporation. Each has its advantages and disadvantages, so it is essential to research and determine the best fit for your successful trucking company.

Develop Your Executive Summary

The executive summary is the first section of your trucking company business plan and should provide an overview of your company and its goals. It should be concise and attention-grabbing, highlighting the most critical aspects of your business plan. This section should include your company’s mission statement, business structure, services offered, target market, and financial projections.

Describe Your Company

In the company description section, you will provide a more detailed overview of your trucking business beyond just your business name. You will describe your business’s history, management team, ownership structure, and legal status. You should also highlight your unique selling proposition, the factors that set your business apart from competitors, and how you plan to provide quality services to your potential customers.

Outline Your Services

In the services section, you will describe the types of trucking services you will offer that will give you a competitive advantage, such as long-haul trucking or local deliveries. You should also detail the types of freight you plan to haul and your operating area. It is crucial to be specific about your services, as this will help you target your social media marketing efforts and attract the right clients.

Conduct a Market Analysis

A market analysis is a critical component of your business plan, as it helps you understand your industry, target market, and competitors. In this section, you will research and analyze truckers in your industry, identifying trends, growth opportunities, and potential challenges. You will also identify your target market, including the types of clients you plan to serve and their specific needs. Finally, you will conduct a competitive analysis, identifying your competitors and analyzing their strengths and weaknesses.

Develop a Sales and Marketing Plan

In the sales and marketing strategy section, you will outline your strategy for acquiring and retaining clients. This means how you will find loads on load boards or through a dispatcher to grow your client base. This section should include your pricing strategy, expected profit margin and predicted loss statement, advertising and promotional efforts, and sales goals. It is also essential to outline your bookkeeping, sales process, and include how you will generate leads, qualify prospects, and close sales. Working with a factoring company can also be a beneficial sales tool, as it provides you with access to cash flow and credit check services that can help you grow your business.

Outline Your Financial Plan

The financial plan is a crucial section of your business plan, as it outlines your company’s financial projections and funding requirements. In this section, you will detail your startup costs, operating expenses, and revenue projections. You should also include a cash flow statement, balance sheet, and income statement. It is essential to be realistic and conservative when developing your financial projections, as this will help you attract investors and secure funding.

As a truck owner operator in the trucking industry, creating a solid business plan is crucial for long-term success. Your business plan should include an executive summary, company description, market analysis, operations plan, marketing plan, and financial projections. It should also take into account the unique challenges of the trucking industry, such as fluctuating fuel costs, competition, and changing regulations.

While creating a business plan can seem like a daunting task, there are resources available to help you. A factoring company, for example, can provide valuable assistance in managing cash flow and getting paid on time. Additionally, seeking guidance from industry experts and other successful owner operators can provide insight and inspiration.

By taking the time to create a comprehensive business plan, you can set your trucking business up for success and avoid common pitfalls that lead to failure. With dedication, hard work, and a solid plan in place, you can achieve your goals as an owner operator in the trucking industry.

Key Strategies for an Effective Owner Operator Business Plan

by Baily Sandage | Jan 11, 2024 | Uncategorized

Starting your own trucking business as an owner-operator is both an exciting and daunting venture. You’re not alone in feeling overwhelmed by the complexity of crafting a successful business plan. It’s a common hurdle for many in your shoes, seeking to transform their trucking career into a thriving, independent business.

Crafting a Winning Owner-Operator Business Plan

Imagine John, an experienced driver, ready to steer his career towards owning a business. He faces the same challenges you do: understanding regulatory requirements, passing the new entrant safety audit , acquiring a DOT number, and ensuring compliance. These obstacles are casting a shadow of doubt over his dream.

Picture this: a world where these challenges are just milestones, not roadblocks. You’re at the helm of a successful trucking operation, with all regulatory and compliance boxes checked. This freedom allows you to focus on growing your business, finding better routes, and maximizing profits. It’s a world of opportunities, unlocked by overcoming initial hurdles.

Your Roadmap to Success

• Develop a Robust Business Plan: Outline your business goals, financial plan, and strategies.
• Understand and Prepare for the New Entrant Safety Audit: This critical step ensures your compliance with safety standards.
• Acquiring Your DOT Number: Typically, it takes around one week to get a DOT number, but preparation is key.
• Stay Informed and Compliant: Regularly update yourself on DOT regulations and ensure your business adheres to these standards.
• Invest in Adequate Insurance: Protect your business against unforeseen events and liabilities.
• A DOT Inspection Checklist : Maintain your fleet with routine checks to avoid any compliance issues.

Frequently Asked Questions

• How long does it take to get a DOT number ? Usually, it takes about one week to obtain a DOT number, but preparation for compliance starts much earlier.
• What is crucial in passing the new entrant safety audit? Maintaining accurate logs, ensuring vehicle safety, and having proper insurance are key.
• Why is compliance so important? Compliance is not just about following rules; it’s about ensuring the safety of your operations and the longevity of your business.

Connecting Through Shared Experiences

Think about your current challenges in starting your trucking business. What steps can you take today to move closer to your goal?

Your journey as an owner-operator, though filled with challenges, is a path to independence and success. At TruckingHQ, we understand the intricacies of this journey and are here to guide you through every step. Connect with us for personalized advice and solutions to create a thriving owner-operator business plan. Let’s steer your dream into reality together!

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How to Write a Trucking Business Plan

Unless you have rich relatives willing to finance your trucking business with no questions asked, it’s in your best interest to write a business plan to aid you when approaching lenders, investors or partners to maximize your chance of getting funding assistance. A comprehensive, detailed and properly structured trucking business plan can help you get the financing you need to purchase trucks, truck equipment and other necessities. But more importantly, it also provides a critical road map of practical and logistical steps you’ll take when starting a trucking business.

What to Include in a Trucking Business Plan

A trucking business plan should contain much of the same information as any other type of business plan, regardless of the product or service the business provides. According to the U.S. Small Business Administration (SBA), a good business plan “guides you through each stage of starting and managing your business … [including] how to structure, run and grow your new business.” For truckers, the business plan should include industry-specific information that displays a thorough knowledge of what it takes to be competitive and profitable, according to the Owner-Operator Independent Drivers Association (OOIDA), a Missouri-based organization that advocates for the rights of professional truck drivers. The first thing you’ll want to do before sitting down to write your business plan is figure out what potential lenders, financiers or investors need to know to ensure your funding requirements are met. You will need to include some customized information in your business plan that is specific to your company’s individual needs. However, just about all business plans should include the following, according to the SBA:

Executive Summary

Company description, market analysis, sales and marketing, funding request, financial projections.

The details in each section will differ depending on whether you want to be an independent owner-operator or company owner with a fleet of trucks. There will also be variations based on the type of freight you’ll be hauling and where your trucks will be travelling. As a general rule, though, each section should contain detailed and accurate information that lets potential investors or partners know you’ve done your due diligence on the trucking industry and have a clear understanding of what it takes to be successful.

Steps to Take Before Writing a Business Plan for Your Trucking Company

As you begin the process of obtaining financing, it’s a good idea to do as much legwork as possible ahead of time so you'll be ready to hit the ground running when your financing comes through. Linda Finch, a compliance specialist with the OOIDA, recommends taking the following steps:

• Register your business as either a sole proprietorship with a DBA, a Limited Liability Company (LLC) or a corporation.
• Obtain an Employee ID Number (EIN).
• Register your business with the U.S. Department of Transportation to get a federal DOT number. You’ll need to provide information on where you’ll be operating, how many trucks you plan to have and the types of trucks, whether you’ll haul hazardous materials, your vehicle weight, the type of cargo and whether you’ll be a freight forwarder.
• Apply for a Motor Carrier (MC) number. This can be done online via the Federal Motor Carrier Safety Administration (FMCSA).
• File a BOC-3 with the FMCSA. This form “gives motor carriers, brokers and freight forwarders a legal presence in any state where they do business,” according to the RTSFinancial website.
• Obtain truck insurance. Finch recommends $750,000 in primary liability insurance, $100,000 in cargo insurance and $1 million in liability insurance. Primary liability covers damages to people or property caused by your truck or trucks.
• Get your apportioned plates and set up an International Registration Plan, or IRP. According to the IRP website, this is a an agreement between the states, District of Columbia and Canadian provinces that recognizes the registration of commercial motor vehicles registered by other jurisdictions. It provides for “payment of apportioned licensing fees based on the total distance operated in all member jurisdictions.”
• Set up an International Fuel Tax Agreement (IFTA) account, which is another agreement between the U.S. and Canada that simplifies fuel use taxes by interstate carriers, according to the California.gov website.
• Get a Unified Carrier Registration (UCR). This requires carriers and other businesses involved in interstate commerce to pay annual fees based on fleet size to supplement funding for state highway motor carrier registration and safety programs, according to UCR.gov.

Information to Gather for Your Trucking Business Plan

The OOIDA also recommends that truckers educate themselves on industry and financial basics before putting their business plans together. To that end, the OOIDA offers business education training seminars designed to help those who are starting a trucking business. The seminars cover everything from obtaining financing and developing the right financial plan to ensuring that all the right boxes are checked in terms of permits, licensing, taxes and compliance. When developing your business plan, the OOIDA offers the following guidelines:

• Determine what your operating assets are in comparison to your liabilities.
• Learn about managing costs to realistically project your financial success.
• Determine your cost of operations, including the fixed and variable costs.
• Determine how much cash flow you will need in order to succeed.
• Develop realistic operating procedures that reflect the freight you will be hauling and the demographics of where the freight originates and where it is delivered.
• Research the different rates required by different freight lanes, and why they differ.
• Learn where to get freight and when to use or avoid load boards. Load boards, also known as freight marketplaces, are online load and truck freight boards used by owner-operators to find their own loads.
• Educate yourself on spot market versus contract rates. Aborn & Co., a Massachusetts-based provider of managed freight solutions, describes a spot rate as “a one-time single-use rate quote that is valid for a short period of time and is issued to a shipper at or near the time of their shipment.” A contract rate is “a fixed price that is valid for a predetermined period of time and is negotiated with a shipper in advance of any freight moves.”
• Research the advantages and disadvantages of adding fuel surcharges to your pricing.

It’s also important to familiarize yourself with the basics of accounting, regardless of whether you plan to handle this function yourself or contract it out to a third party. Courses are offered online and at community colleges that can help you learn about balance sheets, profit-loss statements and how to calculate total assets and total liabilities.

When you’re ready to start writing your business plan, using a template or outline like the one below will ensure your business plan is properly structured and organized. Read: 4 Signs It’s Time to Get a Business Line of Credit

Trucking Business Plan Template

To expedite the trucking business plan process, utilize a basic business plan template and customize it to your needs. Regardless of your industry, all business plans should cover the same key sections. Here are key sections to include when writing a business plan for a trucking company:

This section should provide a short overview of your company and its plans for the future. Include details on your company mission, financial information and performance and growth plans. Ideally, the executive summary will be no more than one or two pages. Because it’s the first thing someone will read, you need to make a strong impression here. Keep the wording crisp, compelling, precise and to the point. If you don’t catch the reader’s attention and make a strong case for why you’re starting a business and why it will succeed, your business plan might get pushed aside before anyone has a chance to read the rest of it. Related: How to Start Your Own Trucking Company in 10 Steps

The next section of your trucking business plan is the company description. This is where you write about the background of your business and your connection to the trucking industry. You can go into a little more detail here about the company mission, how your business will differ from the rest of the playing field and who’ll make up your client base. Use this section to outline the advantages you have over competitors. For example, you might have expertise in a particular type of freight or market, or a strong network of logistics companies, shippers and freight brokers. Provide details on your experience in the business, including everything from starting out as a truck loader to managing a fleet of truckers. This is also where you’ll provide key facts about your trucking business, such as the owners and management team (if applicable), the year of incorporation, where you’ll operate and the states your business is registered in. You will also provide details on employees (if any), their roles and responsibilities and your plans to hire more as your business grows.

In this section, you’ll outline the services you plan to offer, how you’ll go about executing them and how they will meet market demand. If you are licensed to haul hazardous materials, for example, explain how this is a competitive advantage and what kinds of customers will require your services. Provide information on where you’ll be operating and how that will impact your services. A trucker in the Southeast, for example, would probably haul more construction materials than one in the Northeast. Similarly, a trucker in the prairie states would probably have more seasonal business tied to farming. The services section should also include details about your pricing structure, the types of freight you plan to haul and the industries you’ll serve. Read This: 10 Business Plan Tips for Your Startup

In many respects, the market analysis portion is the most important section of your trucking business plan because it’s where you can wow lenders and investors with your market knowledge. The goal here is to provide the kind of data that shows you’re well-versed in industry trends, market demand, what works well and doesn’t work well in winning new business and the techniques you’ll use to gain an edge over rivals. Your market analysis should include the following information:

• Industry Description and Outlook: Provide data on the size of the trucking industry in both dollars and carriers. Include the number of competitors, the biggest players, the biggest shippers and the annual revenue the industry generates. Also, provide data on how the industry is expected to grow and evolve over the next five to 10 years.
• Target Market: This is where you’ll narrow down the data to your specific niche market (e.g. tankers, refrigerated loads, flatbeds, etc.). Use this space to provide information on the market size in dollars, the number of competitors, the biggest shippers and carriers and the market outlook over the next five to 10 years. Explain how you plan to stand out from the crowd in terms of services, expertise, price and reliability.

Also, provide data on how much market share you expect to carve out during a specified time period and how you plan to grab it. Be specific here. Instead of saying, “We plan to gain share by providing exceptional service,” explain what makes your service exceptional, how it differs from the competition and why customers will migrate to your company.

• Pricing and Margins: Provide details on how you intend to price your services, how those stack up against competitors and what kinds of margins you’ll need to operate on to be profitable.
• Competitor Analysis: Potential lenders and investors will want to know that you have a deep knowledge of the carriers and owner-operators you’ll be competing against. Provide detailed information on competitors, who their main customers are, what they do well, where their weaknesses lie and how you plan to exploit those weaknesses.
• Regulatory Environment: The trucking industry is heavily regulated by the federal government (and some state governments) in terms of the number of hours you can drive in a day and a week, the types of material you can haul and where you can haul them, your vehicle’s fuel emissions and the types of permits and licenses required to operate. Explain the regulations you’ll need to operate under and how you plan to comply with them.

You can touch on operational risks here as well, particularly as they pertain to how pending legislation or regulations could impact your business.

Reaching the right people at the right time and in the right way will be a key element of your trucking business’ success. So will convincing prospects to do business with you once you’ve established a relationship. The sales and marketing section of your business plan is where you outline strategies to find potential customers and sell them on your services.

• Marketing Strategy: Use this section to explain what you’ll do to build and grow your client base. Provide details on how you’ll market your business, whether through traditional advertising on industry websites, through social media, by purchasing phone and email lists, by visiting trade shows or some combination of the above or other means. Be specific about the types of clients your marketing will focus on and where they’re located. Also, provide details about the budget you plan to set aside for marketing.
• Sales Strategy: This section will mainly focus on the type of sales operation you plan to set up. If you plan to hire your own sales force, provide details on how many sales agents you expect to have on staff, what their pay structure will look like and what kind of weekly or monthly sale quotas you’ll implement. If you plan to use an outside third party to handle sales, identify companies you might use, why they’re successful and how much you’ll budget. Also, provide details on the process of finding and calling on prospects.

This section provides details on the financing requirements you’ll need to get your trucking business off the ground and keep it operating at full strength in the future. Be very specific in terms of the amount of money needed over the next several years and how it will be used. For example, you might use it to purchase a truck and truck equipment, pay salaries and bills and grow your client base. Also, specify whether you will require debt or equity, for how long and at what terms.

This is where you’ll disclose your company’s financial details and its ability to meet its fiscal targets. Include basic financial documents such as the balance sheet, profit-loss statement, cash flow statement and sales forecast. You can also include a break-even analysis explaining what you need to sell, either monthly or annually, to cover your costs of doing business. Provide an outlook of how the business is expected to perform over the next five years.

How to Get Financing for Your Trucking Business

Now that you have a trucking business plan in place, where do you go for financing? Banks and other traditional lending institutions are an obvious option, but they often won’t finance brand new businesses. Similarly, the Small Business Administration requires three years of business tax returns, which means startups have limited financing options. One option, however, is Seek Business Capital, which specializes in helping startups and early-stage business obtain the funding they need to get their businesses up and running regardless of time in business. To get pre-qualified for trucking business financing or to just learn more about your options, check out the ultimate guide to truck financing . More From Seek

• 10 Tips for Female Entrepreneurs From Women Who Founded Companies
• Cities With the Most Female Entrepreneurs
• What Startups Should Know About Equipment Financing

Business Loan Resources

• Startup Business Loans
• Small Business Loans
• Equipment Loans
• Truck Financing Options

Photo credit: welcomia/Shutterstock.com

Owner Operator Business Plans 3: Marketing Plan

by TruckingOffice | Business Plan , Customer Development , Trucking Authority , Trucking Management | 2 comments

Building an Owner-Operator Trucking Business Plan

Your business plan will have

• an executive summary
• a company overview
• a marketing plan
• a set of goals or milestones
• a list of the current staff
• a financial plan.

TruckingOffice can help you as we break down each step of writing your owner-operator trucking business plan for your success.

Today we’ll talk about your marketing plan.

What’s the Market Look Like?

I could be wrong, but I don’t think there’s a lot of call for truckers to haul cattle in Ohio.  There’s probably a lot more steel and ball bearings in Ohio to be moved.

What do you want to haul?  What trailer do you have right now?  Those two questions will help you start your marketing plan.

The marketing plan section of the owner-operator trucking business plan helps you understand the current need for your services and whether it’s growing.

For example, did anyone predict the rise of consumers buying cars online and needing them to be transported across the country?  Vehicle transportation was once only part of the automotive industry but now there are a lot of people breaking into the trucking industry with a heavy-duty pick-up truck and a small car trailer.

Research can be complicated to do online.

Unless the government has statistics on the exact topic you’re looking for, getting a good idea about the trucking industry and its statistics can be a challenge.  However, you may be able to get statistical reports about the trucking industry from the trucking associations.  The American Trucking Association offers a number of reports for its members which would show the patterns of growth of various types of trucking.

The marketing plan needs to include these statistics:  you need to discover if there’s a future in the transportation field. (There is.)  Your plan is to lay out how you’re going to get into this market and make money.  There’s two parts to consider.

Your Current Customers

Creating a customer list and keeping in touch with them for future loads pays off.  They know you and your work ethic.  They have seen your commitment to excellence and meeting their needs.  That’s the best marketing you have.  Don’t ignore them!

Reaching out to recent shippers keeps your name in mind when the next shipment comes up.  What’s the best way to do this?

Social Media – Facebook, Twitter, and Instagram allow you to contact people fairly easily if you know their name.  It’s also likely that you’ll find companies on these platforms too.  If you follow them, then you can make some connections.  It seems like a stretch to follow a big company, but you never know what you might find out about their business or their priorities.  If they mention they want to support veterans if you’re a veteran of the armed forces, that might be a way for you to get more attention.

Email – You need to know an email address if you want to write to them, but those sometimes can be found through company websites.  If you’ve hauled freight for a company in the past, you may already have an email to send your invoice and BOL, but that’s probably the accounting department, not shipping.  You can get an email address from the shipping department and add it to your customer list in TruckingOffice trucking management software.

Handouts/flyers – If you’re creative and have the time to prepare a flyer, you might leave one the next time you haul a load.  You could mail companies near your home or the companies where you’ve made deliveries.  Mail is becoming rarer and might get more attention than an email, or it might end up in the trash.

Keeping track of contacts is important.

It’s relationships that produce the most profitable loads.

Keeping track of contacts is important. Relationships produce the most profitable loads .  Using TruckingOffice’s customer list builder will allow you to store contact information.  This will be valuable for the slow times when you need to find loads – you can count of having all the data about your customers on hand if you’re in a community and need a load to get home.

Consider this:  the last choice of a shipper is to hire some random trucker off a board that they don’t know.  Shippers work with brokers because they trust the broker to come up with a good trucker.  And brokers who know good drivers aren’t going to post a good load on a load board.  It’s the relationship built on trust.  Part of your marketing strategy is going to be based on a good broker relationship.

Get to know your market after you’ve decided who you want to serve.   Are you able to use your equipment to haul a variety of loads?  Or is it limited to specific types, such as a car carrier or refrigerated foods?

As brokers get to know what you are able to haul, they will offer you more specific loads.  The more reliable you prove to be as a trucker, the more offers of loads you’ll receive.  That’s how this business works:  it’s as much who you know as it is being in the right place at the right time.  While building relationships takes time – and you probably will interact with many brokers – you’ll learn who you want to work with too.  Keeping in contact with them will help them remember you.

The Marketing Plan

Put all these markets into a short document.  Graphs convey a lot of information – use them for the market share reports.  A list of your customers and brokers will give a good perspective of how you’re already serving your customers.  You can also include how you intend to bring in more customers and more loads, or if you want to diversify, how you’ll reach this new target market.

This is the first step in your owner-operator trucking business plan that starts to look forward.  How are you going to apply this collected information toward your future? Do you see something you did the past that helped you?  Can you do it again?

As you write your marketing plan, keep all these things in mind as we move to the next step:  Creating your future on paper with goals and milestones.

I would like to speak to someone regarding, Trucking Office. Currently, I am owner of my trucking company, Spirit of Truth Transportation LLC. I think this program can assist me to operate my business in an organized manner.

Click here to sign up for the TruckingOffice FREE TRIAL!

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