HOW MUCH DO TRUCKING COMPANIES MAKE?

You’re a truck driver making decent money but want to think more about your future. Perhaps it’s time to start your own trucking company. Below, we’ll discuss how much money you can make from a truck and what companies are the most successful at making money.

How much do trucking companies make: Trucking companies make money by owning trucks and securing contracts, and then hiring drivers to work for them. You can start your own trucking company with just one or two trucks and then build up as you see fit. Every truck you own could result in a profit of between $500 and $2000 a week.

How does a trucking company work?

A trucking company starts with its own truck and then works with other companies to transport goods. However, it is not the person who owns the company that is the driver. Instead, a separate driver is hired.

Many owner-operators start by branching out and purchasing a second truck. Then, they take the money earned from a contract and use part of that to pay the trucker’s salary.

There can be a lot of overhead when starting a trucking company, most notably the price of the truck. Semi-trucks are not cheap, so you will need to factor in the purchase price plus the interest, as most people will need to take out a loan.

The most trucks you have, the more potential for a profit. Just don’t spread yourself too thin as that overhead money has to come from somewhere.

If you spend all your capital on new trucks but an emergency comes up, or your profits are less than projected, you can quickly be in the red.

What is the highest-paying trucking company?

There are many established trucking companies that pay well. Generally, larger companies will have higher salaries and better benefits than smaller, independent companies.

In the United States, Artur Express, Roehl Transport, and Hight Logistics all have very good reputations.

How much can you make off one truck?

One truck can net you between $500 and $2000 a week. This is on the high end, so you may want to scale your budget to the lower end of the scale when first starting out.

A lot of factors will determine your profits. Start by thinking of your overhead costs, such as truck payments, gas, and insurance.

Then, think about the money you make from the company whose goods you are transporting. The more jobs you take on, the more potential for money, but this is not guaranteed work.

Finally, you will have to pay the salary of the truck driver you hire. This will be negotiated when you hire them.

After all these columns are tallied up, this is the profit you get to keep. Unfortunately, the trucking industry ebbs and flows so you can’t always expect to make the same profit each week.

Tips for Success

Create a business plan

You may have some great ideas swirling around in your head, but without a business plan, those ideas often don’t become reality. A business plan helps you organize your ideas into a concrete, rational overview.

There are many business plan templates you can find online. These will help you understand what you need to know before you get into the business of owning a trucking company.

By writing down what your known costs are, your unexpected costs, and any current resources, you can have a much better picture of where you stand. You should also think about short-term and long-term goals and how to scale your business if you wish to.

A business plan can be as detailed as you like. However, you should stick to a style that works for you.

Talk to others

We all have this idea that we are intuitively designed to succeed. However, a little help goes a long way.

Starting your own trucking company is pretty monumental. It helps if you can contact other people in similar situations so you can learn from them.

Talk to people you know who started their company from scratch. Then, you can brainstorm ways to make your company a success.

Remember that there’s no reason to fully re-invent the wheel. If you can learn from other people’s mistakes, it will make you much more successful.

And don’t worry; there will still be plenty more mistakes you can make on your own.

Take a business course

An idea is great but it’s even better when paired with knowledge. You don’t have to go back to school to get your MBA, but you should take a business course or two before you start your own trucking company.

Almost every local college will have an introduction to business class and many are geared toward adults that already have jobs. You should be able to find a night class or even a distance education class that fits your already busy schedule.

Basic business courses will help explain important terminology and will show you how to navigate budgets, and projections, and even improve your people skills. You will have people working for you in your trucking company, so knowing how to manage people, even if it is just one or two, will help make your business more of a success.

Decide on a specialization

Depending on how many trucks you have in your fleet, it is better to start small when creating a trucking company. Start by analyzing the market and finding out where extra help is needed.

It might be better to start with two similar trucks if the market niche is wide enough. If not, you may have to diversify, but this can increase your overhead costs.

As a small company, you don’t want to be competing with large, established organizations. Look for local connections that smaller businesses will appreciate. You may have to offer better prices to get into the market, but this is true for most businesses that are just starting out.

Conclusion

A trucking company’s profits increase the more trucks they own. One truck can net between $500 and $2000 a week, but this number is not solid so you should plan your business for a much smaller amount.