ANSWERS: 1
  • As many have gone bankrupt as made their fortunes in the trucking industry. The transportation industry is in constant flux, so a good base of knowledge, contacts and experience should be considered prerequisites for becoming a transport business owner.

    Truck

    Almost all trucking companies start with a single truck, which is usually acquired used or on lease from a larger company.

    Insurance

    No truck can be operated or contracts fulfilled without insurance. May owner-operators purchase the maximum amount of coverage they can afford, since more coverage means higher-value freight.

    Broker

    Freight brokers play middleman in the freight business, and receive a fee for hooking up those who wish to ship with those who will deliver.

    Contacts

    Good industry contacts are vital to profit, and should be cultivated carefully. No matter how big a company is, the transportation industry still uses a subtle "good old boy" system of contracting.

    Experience

    Before striking out as a full owner-operator, many drivers spend some time as lease-operators who own their own truck but have a dedicated contract with a larger company.

    Source:

    Askmehelpdesk.com: Starting a Truck Company

    Truckingsuccess: Owner Operator Tips

    Truckinfo.net: Owner Operator Help Links

    Resource:

    Headquarters of Lease-Op Company PRIME (Video)

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