How Much Will It Cost to Start Your Trucking Business?

Feb 27, 2020

How Much Will It Cost to Start Your Trucking Business?

So, you’ve decided to truck it out by yourself and start your very own trucking company? Well, congratulations! The trucking industry is ripe with growth and opportunity, and it’s just waiting for ambitious entrepreneurs like you to seize the occasion.

See, America needs trucks. We desperately need trucks. The shortage of truck drivers is getting worse every year, and that deficit is expected to widen by more than 100% over the next decade. Aging drivers are retiring, women are struggling to join the industry, and the labor market is growing tighter and tighter—so more knowledgeable trucking business owners is exactly what our country needs.

The trucking industry is—and will remain for the foreseeable future—the lifeblood of the US economy, moving nearly 71% of all freight tonnage in the country. Annual truck tonnage has seen growth over the last 10 consecutive years, and although 2019 wasn’t as magical as 2018 for the industry, now’s as good a time as ever to jump into the competition.

But starting your own trucking company isn’t all wide-open roads and beautiful sunsets—it’s a lot of hard work, patience, and savvy decision-making. Oh, and money. Yes, money. One of the biggest barriers to entry in this industry is capital. Fortunately for you, there are plenty of fantastic financing options that can help you get your business off the ground. But how much cash are you going to need, exactly? Good question.

This guide is chock-full of all the costs you can expect to pay when starting your trucking company. It includes the obvious investments (like your truck and its many big ol’ expensive tires), and it also contains the not-so-obvious expenses (like toll fees and CDL endorsements). It’s all here to give you a good idea of what it’ll cost to make your trucking dream a reality. But before we dive into the nuts and bolts of your expected costs, we need to take a step back and look at the big picture—your business plan.

About the Author

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Jesse Sumrak

Jesse Sumrak is a Social Media Manager for SendGrid, a leading digital communication platform. He's created and managed content for startups, growth-stage companies, and publicly-traded businesses. Jesse has spent almost a decade writing about small business and entrepreneurship topics, having built and sold his own post-apocalyptic fitness bootstrapped startup. When he's not dabbling in digital marketing, you'll find him ultrarunning in the Rocky Mountains of Colorado. Jesse studied Public Relations at Brigham Young University.

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