How to start a trucking business: 7 tips to consider

Estimated reading time: 5 minutes

Even for the most experienced driver, starting a trucking company isn’t always easy. There’s a lot to consider, from the freight you want to haul to what equipment you need to the regulations you need to follow. 

If you’re a company driver who's interested in becoming an owner-operator, review our seven tips on how to start a trucking business to help you begin. 

Owner-operator startup checklist 

1. Develop a business plan.

It’s a good idea to have a business plan in place before you start a trucking company. This will help you understand what to expect as an owner-operator and how much it can cost to start a trucking business.

As you put together a trucking company checklist, some things to think about include:

• Where you plan to run your business.
• How often you want to get home.
• What your weekly revenue goals are for your business.
• What your business’ expected expenses are, such as:
  • Fuel.
  • Truck payments.
  • Truck maintenance.
  • Taxes.
  • Insurance.
• How you are going to get loads.
• What business structure you'd like to follow.

2. Determine how you will run your business.

As an owner-operator, you can choose to do business with a carrier and run under its authority, or you can decide to operate under your own authority. The route you choose will dictate a few things for your business, including compliance requirements you’ll have to follow and how you will get your loads. 

If you run under your own authority 

Owner-operators who run under their own authority may work with freight brokers to help them find freight or use public load boards to gain access to the spot market.  

If you do business with a carrier 

Owner-operators who do business with a carrier like Schneider do so as independent contractors and are not employees of the carrier. Usually, this means the owner-operator will be able to select freight from the carrier’s private load board. 

3. Figure out what type of freight your business is going to haul.

There are many opportunities available to owner-operators when it comes to deciding what freight they want to haul. Some options include:

• Dry van freight.
• Tanker loads.
• Flatbed loads.
• Shipping containers.
• And more.

When you’re starting a trucking company checklist, consider these different freight options and think about:

• What will fit your lifestyle.
• What endorsements you may need.
• How much experience is required.
• Freight availability.
• What equipment will you need.

Whatever freight you decide to haul, just make sure it’s a good fit for you and your business. If you decide to do business with a carrier, make sure they have opportunities that align with what you want to haul.

4. Get insurance.

The way you run your business and what type of freight you haul can affect what kind of insurance you need to obtain.

If you run under your own authority

When you operate under your own authority, you are responsible for covering all your insurance needs. This can include:

• Commercial auto liability insurance.
• Commercial general liability insurance.
• Cargo liability insurance.
• Workers’ Compensation or Occupational Accident insurance.
• Physical damage insurance.

Insurance requirements can vary depending on what you haul. For example, owner-operators who move hazardous materials need extra insurance coverage.

If you do business with a carrier

When you do business with a motor carrier, the carrier will most-likely provide some of the insurance coverage. The owner-operator may still be responsible for, or may want to obtain:

• Workers’ Compensation or Occupational Accident insurance.
• Physical damage insurance (per equipment finance agreement).
• Non-Trucking Liability insurance (often referred to as “Bobtail” or “Unladen” insurance).

You can go to the Federal Motor Carrier Safety Administration (FMCSA) website for more information on insurance filing requirements.