Trucking Business Plan Template
If you want to start a new trucking company or expand your current one, you need a good business plan.
Over the past 20+ years, we have helped over 5,000 entrepreneurs and business owners create business plans to start and grow their trucking businesses. Get started today with our simple trucking business plan example.
Below are links to each section of your trucking company business plan template:
Trucking Business Plan FAQs
Growthink's Ultimate Trucking Business Plan Template allows you to quickly and easily complete your Trucking Business Plan. Our business plan template includes all the key sections necessary to write a trucking business plan including the executive summary, company description, management team, industry analysis, operations plan, financial plan, and more!
You can download our trucking business plan PDF template here. This is a business plan template you can use in PDF format.
A business plan provides a snapshot of your trucking 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. A specific trucking business plan template makes it easy to write this crucial business document.
If you’re looking to start a trucking business or grow your existing trucking business you need a business plan. A business plan will help you raise funding, if needed, and plan out the growth of your trucking business in order to improve your chances of success. Your trucking business plan is a living document that should be updated annually as your company grows and changes.
To start planning your business in the transportation industry, begin by determining the scope of your trucking company business plan. Will you need one to raise capital, or will you seek financing for truck purchases? Are you looking for new investments that are outside the scope of your current cash flow projections? Make sure to research all of these issues before proceeding with writing your plan.
Once you determine the scope of your own trucking business, you will begin to conduct thorough market research and competitive analysis. You should know which region you plan to work in (in the case of trucking companies focusing on a specific geographical region) and whether you want to focus on a particular type of freight (e.g., heavy hauling vs. general commodities). Gather as much information as you can, including competitor profiles and market research reports. This should help you determine the profile of your potential customers and a realistic price range for your trucking services or transporting goods. All of this information will be included in your business plan and will help convince potential investors if you are seeking funding.
It's best to try to keep your trucking company business plan between 30 and 50 pages, but there are no firm rules. Length is determined by how thorough you need to be. If you're just looking for funding for new equipment, for instance, your plan may only require 20 pages of material. On the other hand, if you're looking for outside investment or planning on expanding into new markets, it may require more than twice that length.
Yes, these documents are included in the Appendix section of the business plan! Although this makes it very important that you do extensive research and budget thoroughly, it's also one reason why people hire professional writers: they're experts at finding and justifying expenditures and keep companies from going overboard with unrealistic expectations. Growthink's Ultimate Trucking Business Plan Template includes realistic financial projections making it easier for you to start writing the business plan for your trucking company.
The most common mistake entrepreneurs make when writing their own business plans is to focus too much on expenses without including enough of an income stream. This causes businesses to become unprofitable and/or unsustainable over time, which will only hurt the truck owner's ability to grow his or her business.
Although trucking companies vary in their rates of return, the trucking industry as a whole is generally quite profitable when compared to other types of business ventures.
The amount of money you can make is largely dependent on your trucking industry niche, client base, services provided, implemented business strategies, and other factors. However, the average trucking business owner earns approximately $46K in annual revenue, though many others have reported earning more than $100K per year after expenses.
In the trucking industry, there are several business structures to choose from, including sole proprietorships, limited liability corporations (LLCs), and S Corporations. You should discuss your options with an accountant or financial planner depending on the state you plan to do business in.
Most of the time, trucking companies start as sole proprietorships, which are the simplest and most inexpensive to maintain. You may also establish LLCs or corporations in addition to co-ops.
A strong marketing strategy is one of the most critical aspects of any trucking company business plan. You should be prepared to reach your target market through all channels, including social media sites like Facebook and LinkedIn as well as professional networking groups for retirees or veteran members. Likewise, having a strong network of quality suppliers can help you better serve existing customers while also attracting new ones.
With regards to funding, the main sources of funding for a trucking business are 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 want to see a professional plan. Such a plan will give them the confidence that you can successfully and professionally operate a business.
The second most common form of funding for a trucking business is angel investors. Angel investors are wealthy individuals who will write you a check. They will either take equity in return for their funding or, like a bank, they will give you a loan. Venture capitalists will not fund a trucking business.
There are several sources of financing available specifically for established trucking businesses including commercial loans, small business administration (SBA) loans, and credit cards. All three can help cover the cost of purchasing new trucks along with other equipment.
The 7 steps to making a successful trucking company are:
- Conduct thorough research and analysis.
- Gather as much information as you can, including competitor profiles, industry trends, and market analysis reports.
- Determine your competitive advantage, ideal customer profile, and a realistic price range for your services or goods.
- Meet with an accountant or financial planner depending on the state you plan to do business in to determine what business structure is best for you.
- Establish LLCs or corporations in addition to co-ops if desired.
- Choose the trucking company name carefully and secure all necessary trademarks to prevent others from legally using them in your field of business.
- Use a trucking business plan template, write your own business plan, or work with a business plan expert to write a trucking business plan that's tailored for your particular needs.