Ready to start your own trucking business? This step-by-step guide walks you through the tasks involved from idea to launch. Atlantis Insurance Inc. in West Palm Beach, FL is here to help.
Starting Your Own Trucking Business
- Draft your business plan. You can find free business plan templates by searching online and then working through each section thoughtfully. As you draft your business plan, you’ll have the opportunity to create a mission statement, forecast your first-year financials, and set goals for your first few years in business.
- Seek funding. You’ll need a business plan finalized before you can seek funding, and your business plan will help you better understand start-up costs and how much funding you might need. Now that it’s done, you can begin to secure funding.
- Choose and register your business name. Select a business name that reflects your mission.
- Choose a business structure. Meet with a CPA, Tax Accountant, or Business Attorney to select the best structure for your business – limited liability company (LLC), sole proprietorship, corporation, etc.
- Register your business. Once you have a business name and structure established, you can register your business. The registrations required for you will depend on local law, but generally speaking, you’ll check with your County Tax Collector, register with the Florida Department of Revenue, and register with the IRS.
- Secure insurance. Before you begin doing business, it’s critical to secure insurance that will adequately protect you in case of loss. At a bare minimum, trucking companies need commercial auto insurance and commercial general liability insurance. Schedule an appointment with your local agent to better understand what you need.
To learn more or get an insurance quote for your new trucking business, stop by Atlantis Insurance Inc. in West Palm Beach, FL today.