Updated: May 5
Writing up your trucking business plan is one of the first things you need to do when you start a trucking company! Your business plan will allow you to clearly define your trucking business and give you some direction before you get out on the road.
Your plan should include your goals, define how your company will be different, and explain how you will grow, how you are going to acquire clients, and how you are going to make money. This business plan will be a fluid document and should be updated every year or so. Let’s take a closer look at what you should include in your trucking business plan.
Your trucking business plan should start with a general description of your company. Begin with the background of the business and how it got started. It should also include the overall mission of the company and some of the key facts.
The overall mission of the company should go into what you plan on delivering and how you are going to differentiate yourself from the competition. Key facts could include when the company was founded, the number of employees, what states you plan on operating in, and any other facts you feel are important about the company.
Within the services section of your trucking business plan, explain what materials you plan on hauling and what industries you plan on operating in. You should also go into detail about how the service you provide will be beneficial to the clients in the locations you are operating in. This will help justify why your business will be successful and why your services will be in demand.
In the market analysis, you should portray how well you know the industry. It should give insight into where the industry is going and how your business will capitalize on the changes. In addition to the industry outlook, your market analysis should include your target market, the characteristics of the market, the market’s size, and how much of the market you want to capture. Thinking about these things will take time but will help your business set goals you’d like to accomplish.
Sales and Marketing
Knowing what part of the market you want to capture is only half the story. You need to figure out how you’re going to get the word out about your company. Specifically, what channels you will utilize to market your business and where you want to promote your business will be important for not just acquiring customers but keeping them long-term.
Through your marketing tactics, you will be able to build up a pipeline of potential clients. However, it is not likely that all your contacts will reach out to you first. You will need to come up with a plan for how you’re going to engage those people who know about your company but aren’t yet convinced they need your services.
This part of the trucking business plan will be crucial for the success of your company. It is easy to describe your business and what type of customers you want to serve but actually coming up with a strategy to acquire those potential customers will take time and effort.
Within your financial projections, you will prove how your company will be able to stay in business and meet its goals. You should provide basic statements like profit & loss, cash flow, and a balance sheet. You will also need a sales forecast for the next three to five years.
Making financial projections might be difficult for those who are not experts in finance and who have never prepared information like this before. If you need assistance with your financial projections, give ATBS a call at 866-920-2827. We have been in the industry for over 20 years helping owner-operators keep track of the finances of their business.
Finishing your trucking business plan
A trucking business plan may be time-consuming and seen as an obstacle getting in the way of getting out on the road. However, your trucking business plan will allow you to think about the big picture of your company and it will help you realize what it will take to be successful. You might also discover things that could stand in your way.
Not all business plans need to look exactly like this and there are plenty of sources online to help you get started. Don’t skip out on this important step in starting your trucking business!