how to create a business plan for a trucking company

How to Write a Trucking Business Plan

Unless you have rich relatives willing to finance your trucking business with no questions asked, it’s in your best interest to write a business plan to aid you when approaching lenders, investors or partners to maximize your chance of getting funding assistance. A comprehensive, detailed and properly structured trucking business plan can help you get the financing you need to purchase trucks, truck equipment and other necessities. But more importantly, it also provides a critical road map of practical and logistical steps you’ll take when starting a trucking business.

What to Include in a Trucking Business Plan

A trucking business plan should contain much of the same information as any other type of business plan, regardless of the product or service the business provides. According to the U.S. Small Business Administration (SBA), a good business plan “guides you through each stage of starting and managing your business … [including] how to structure, run and grow your new business.” For truckers, the business plan should include industry-specific information that displays a thorough knowledge of what it takes to be competitive and profitable, according to the Owner-Operator Independent Drivers Association (OOIDA), a Missouri-based organization that advocates for the rights of professional truck drivers. The first thing you’ll want to do before sitting down to write your business plan is figure out what potential lenders, financiers or investors need to know to ensure your funding requirements are met. You will need to include some customized information in your business plan that is specific to your company’s individual needs. However, just about all business plans should include the following, according to the SBA:

Executive Summary

Company description, market analysis, sales and marketing, funding request, financial projections.

The details in each section will differ depending on whether you want to be an independent owner-operator or company owner with a fleet of trucks. There will also be variations based on the type of freight you’ll be hauling and where your trucks will be travelling. As a general rule, though, each section should contain detailed and accurate information that lets potential investors or partners know you’ve done your due diligence on the trucking industry and have a clear understanding of what it takes to be successful.

Steps to Take Before Writing a Business Plan for Your Trucking Company

As you begin the process of obtaining financing, it’s a good idea to do as much legwork as possible ahead of time so you'll be ready to hit the ground running when your financing comes through. Linda Finch, a compliance specialist with the OOIDA, recommends taking the following steps:

• Register your business as either a sole proprietorship with a DBA, a Limited Liability Company (LLC) or a corporation.
• Obtain an Employee ID Number (EIN).
• Register your business with the U.S. Department of Transportation to get a federal DOT number. You’ll need to provide information on where you’ll be operating, how many trucks you plan to have and the types of trucks, whether you’ll haul hazardous materials, your vehicle weight, the type of cargo and whether you’ll be a freight forwarder.
• Apply for a Motor Carrier (MC) number. This can be done online via the Federal Motor Carrier Safety Administration (FMCSA).
• File a BOC-3 with the FMCSA. This form “gives motor carriers, brokers and freight forwarders a legal presence in any state where they do business,” according to the RTSFinancial website.
• Obtain truck insurance. Finch recommends $750,000 in primary liability insurance, $100,000 in cargo insurance and $1 million in liability insurance. Primary liability covers damages to people or property caused by your truck or trucks.
• Get your apportioned plates and set up an International Registration Plan, or IRP. According to the IRP website, this is a an agreement between the states, District of Columbia and Canadian provinces that recognizes the registration of commercial motor vehicles registered by other jurisdictions. It provides for “payment of apportioned licensing fees based on the total distance operated in all member jurisdictions.”
• Set up an International Fuel Tax Agreement (IFTA) account, which is another agreement between the U.S. and Canada that simplifies fuel use taxes by interstate carriers, according to the California.gov website.
• Get a Unified Carrier Registration (UCR). This requires carriers and other businesses involved in interstate commerce to pay annual fees based on fleet size to supplement funding for state highway motor carrier registration and safety programs, according to UCR.gov.

Information to Gather for Your Trucking Business Plan

The OOIDA also recommends that truckers educate themselves on industry and financial basics before putting their business plans together. To that end, the OOIDA offers business education training seminars designed to help those who are starting a trucking business. The seminars cover everything from obtaining financing and developing the right financial plan to ensuring that all the right boxes are checked in terms of permits, licensing, taxes and compliance. When developing your business plan, the OOIDA offers the following guidelines:

• Determine what your operating assets are in comparison to your liabilities.
• Learn about managing costs to realistically project your financial success.
• Determine your cost of operations, including the fixed and variable costs.
• Determine how much cash flow you will need in order to succeed.
• Develop realistic operating procedures that reflect the freight you will be hauling and the demographics of where the freight originates and where it is delivered.
• Research the different rates required by different freight lanes, and why they differ.
• Learn where to get freight and when to use or avoid load boards. Load boards, also known as freight marketplaces, are online load and truck freight boards used by owner-operators to find their own loads.
• Educate yourself on spot market versus contract rates. Aborn & Co., a Massachusetts-based provider of managed freight solutions, describes a spot rate as “a one-time single-use rate quote that is valid for a short period of time and is issued to a shipper at or near the time of their shipment.” A contract rate is “a fixed price that is valid for a predetermined period of time and is negotiated with a shipper in advance of any freight moves.”
• Research the advantages and disadvantages of adding fuel surcharges to your pricing.

It’s also important to familiarize yourself with the basics of accounting, regardless of whether you plan to handle this function yourself or contract it out to a third party. Courses are offered online and at community colleges that can help you learn about balance sheets, profit-loss statements and how to calculate total assets and total liabilities.

When you’re ready to start writing your business plan, using a template or outline like the one below will ensure your business plan is properly structured and organized. Read: 4 Signs It’s Time to Get a Business Line of Credit

Trucking Business Plan Template

To expedite the trucking business plan process, utilize a basic business plan template and customize it to your needs. Regardless of your industry, all business plans should cover the same key sections. Here are key sections to include when writing a business plan for a trucking company:

This section should provide a short overview of your company and its plans for the future. Include details on your company mission, financial information and performance and growth plans. Ideally, the executive summary will be no more than one or two pages. Because it’s the first thing someone will read, you need to make a strong impression here. Keep the wording crisp, compelling, precise and to the point. If you don’t catch the reader’s attention and make a strong case for why you’re starting a business and why it will succeed, your business plan might get pushed aside before anyone has a chance to read the rest of it. Related: How to Start Your Own Trucking Company in 10 Steps

The next section of your trucking business plan is the company description. This is where you write about the background of your business and your connection to the trucking industry. You can go into a little more detail here about the company mission, how your business will differ from the rest of the playing field and who’ll make up your client base. Use this section to outline the advantages you have over competitors. For example, you might have expertise in a particular type of freight or market, or a strong network of logistics companies, shippers and freight brokers. Provide details on your experience in the business, including everything from starting out as a truck loader to managing a fleet of truckers. This is also where you’ll provide key facts about your trucking business, such as the owners and management team (if applicable), the year of incorporation, where you’ll operate and the states your business is registered in. You will also provide details on employees (if any), their roles and responsibilities and your plans to hire more as your business grows.

In this section, you’ll outline the services you plan to offer, how you’ll go about executing them and how they will meet market demand. If you are licensed to haul hazardous materials, for example, explain how this is a competitive advantage and what kinds of customers will require your services. Provide information on where you’ll be operating and how that will impact your services. A trucker in the Southeast, for example, would probably haul more construction materials than one in the Northeast. Similarly, a trucker in the prairie states would probably have more seasonal business tied to farming. The services section should also include details about your pricing structure, the types of freight you plan to haul and the industries you’ll serve. Read This: 10 Business Plan Tips for Your Startup

In many respects, the market analysis portion is the most important section of your trucking business plan because it’s where you can wow lenders and investors with your market knowledge. The goal here is to provide the kind of data that shows you’re well-versed in industry trends, market demand, what works well and doesn’t work well in winning new business and the techniques you’ll use to gain an edge over rivals. Your market analysis should include the following information:

• Industry Description and Outlook: Provide data on the size of the trucking industry in both dollars and carriers. Include the number of competitors, the biggest players, the biggest shippers and the annual revenue the industry generates. Also, provide data on how the industry is expected to grow and evolve over the next five to 10 years.
• Target Market: This is where you’ll narrow down the data to your specific niche market (e.g. tankers, refrigerated loads, flatbeds, etc.). Use this space to provide information on the market size in dollars, the number of competitors, the biggest shippers and carriers and the market outlook over the next five to 10 years. Explain how you plan to stand out from the crowd in terms of services, expertise, price and reliability.

Also, provide data on how much market share you expect to carve out during a specified time period and how you plan to grab it. Be specific here. Instead of saying, “We plan to gain share by providing exceptional service,” explain what makes your service exceptional, how it differs from the competition and why customers will migrate to your company.

• Pricing and Margins: Provide details on how you intend to price your services, how those stack up against competitors and what kinds of margins you’ll need to operate on to be profitable.
• Competitor Analysis: Potential lenders and investors will want to know that you have a deep knowledge of the carriers and owner-operators you’ll be competing against. Provide detailed information on competitors, who their main customers are, what they do well, where their weaknesses lie and how you plan to exploit those weaknesses.
• Regulatory Environment: The trucking industry is heavily regulated by the federal government (and some state governments) in terms of the number of hours you can drive in a day and a week, the types of material you can haul and where you can haul them, your vehicle’s fuel emissions and the types of permits and licenses required to operate. Explain the regulations you’ll need to operate under and how you plan to comply with them.

You can touch on operational risks here as well, particularly as they pertain to how pending legislation or regulations could impact your business.

Reaching the right people at the right time and in the right way will be a key element of your trucking business’ success. So will convincing prospects to do business with you once you’ve established a relationship. The sales and marketing section of your business plan is where you outline strategies to find potential customers and sell them on your services.

• Marketing Strategy: Use this section to explain what you’ll do to build and grow your client base. Provide details on how you’ll market your business, whether through traditional advertising on industry websites, through social media, by purchasing phone and email lists, by visiting trade shows or some combination of the above or other means. Be specific about the types of clients your marketing will focus on and where they’re located. Also, provide details about the budget you plan to set aside for marketing.
• Sales Strategy: This section will mainly focus on the type of sales operation you plan to set up. If you plan to hire your own sales force, provide details on how many sales agents you expect to have on staff, what their pay structure will look like and what kind of weekly or monthly sale quotas you’ll implement. If you plan to use an outside third party to handle sales, identify companies you might use, why they’re successful and how much you’ll budget. Also, provide details on the process of finding and calling on prospects.

This section provides details on the financing requirements you’ll need to get your trucking business off the ground and keep it operating at full strength in the future. Be very specific in terms of the amount of money needed over the next several years and how it will be used. For example, you might use it to purchase a truck and truck equipment, pay salaries and bills and grow your client base. Also, specify whether you will require debt or equity, for how long and at what terms.

This is where you’ll disclose your company’s financial details and its ability to meet its fiscal targets. Include basic financial documents such as the balance sheet, profit-loss statement, cash flow statement and sales forecast. You can also include a break-even analysis explaining what you need to sell, either monthly or annually, to cover your costs of doing business. Provide an outlook of how the business is expected to perform over the next five years.

How to Get Financing for Your Trucking Business

Now that you have a trucking business plan in place, where do you go for financing? Banks and other traditional lending institutions are an obvious option, but they often won’t finance brand new businesses. Similarly, the Small Business Administration requires three years of business tax returns, which means startups have limited financing options. One option, however, is Seek Business Capital, which specializes in helping startups and early-stage business obtain the funding they need to get their businesses up and running regardless of time in business. To get pre-qualified for trucking business financing or to just learn more about your options, check out the ultimate guide to truck financing . More From Seek

• 10 Tips for Female Entrepreneurs From Women Who Founded Companies
• Cities With the Most Female Entrepreneurs
• What Startups Should Know About Equipment Financing

Business Loan Resources

• Startup Business Loans
• Small Business Loans
• Equipment Loans
• Truck Financing Options

Photo credit: welcomia/Shutterstock.com

BUSINESS STRATEGIES

How to create a trucking business plan

• Nirit Braun
• Sep 8, 2023

A trucking business plan is a strategic document that outlines the goals, objectives, operational strategies, financial projections and other essential aspects of a trucking company. This plan not only lays out the foundational framework for the business but also acts as a reference tool to attract investors, secure loans and make informed decisions throughout the company's lifecycle.

When starting a trucking business, a comprehensive and clear business plan is of paramount importance. It acts as a guiding document, helping entrepreneurs navigate the complexities of launching a new venture.

Looking to hit the road with your trucking business? Create a business website today with Wix.

How to create a successful trucking business plan in 6 steps

Now we’ll walk through the six essential steps for crafting a trucking business plan tailored to your company's unique needs.

Executive summary

Business and domain names

Market analysis and research

Operations plan

Marketing and advertising plan

Financial plan

01. Executive summary

Your executive summary is a concise overview of your entire trucking business plan. It serves as the introduction to your business idea, encapsulating the key elements of your plan in a compelling and succinct manner. This section is crucial because it's often the first part potential investors, lenders and partners read. Writing a clear executive summary for your trucking business involves distilling the most important information into a few paragraphs.

You can do this by starting with a brief description of your trucking business, highlighting its core services, mission and value proposition. Provide an overview of the trucking industry, emphasizing the growth potential and any unique market trends you aim to capitalize on.

Then explain what sets your trucking business apart from competitors. Highlight your strengths, such as superior service, technology adoption or strategic partnerships.

Remember to always offer a glimpse into your financial expectations, showcasing your revenue projections, anticipated expenses and estimated profitability. Mention the amount of funding you're seeking and how it will be used. Briefly discuss your capital requirements when relevant.

Prioritize outlining the significant milestones you aim to achieve, such as acquiring a certain number of trucks, reaching specific revenue targets or expanding to new routes.

Example executive summary for a trucking company: “[Your Trucking Company Name] aims to revolutionize the transportation industry by offering reliable, efficient and technology-driven freight solutions. With a focus on sustainability and timely deliveries, we are poised to meet the growing demand for exceptional logistics services. Our fleet of state-of-the-art trucks, supported by real-time tracking and advanced route optimization, ensures seamless operations. In an industry where trust is paramount, our commitment to transparency, safety and customer satisfaction sets us apart. Our projections indicate steady growth, with revenues projected to double within the first three years. We seek an initial investment of $500,000 to fund fleet expansion and technological enhancements. Our experienced team, led by industry veterans, is equipped to steer our business toward success. Join us in reshaping the future of trucking.”

02. Business and domain names

Knowing how to name a business is crucial for a trucking venture and a key step before you register your business . It's your first opportunity to make a strong impression and establish your brand identity. A well-chosen name can resonate with your target audience, convey your values and distinguish you from competitors. While brainstorming, consider using a business name generator like one from Wix for inspiration. These tools can offer unique and creative options that align with your trucking services.

Be inspired: Trucking business names

When you've settled on a company name, don't forget to secure a relevant domain name for your business website. Choose a domain name that mirrors your company name or incorporates relevant keywords related to trucking or logistics. Ensure it's easy to spell, memorable and representative of your brand.

For instance, if your trucking business is named "SwiftHaul Logistics," your domain name could be "SwiftHaulLogistics.com."

03. Market analysis and research

Incorporating a robust market analysis into your trucking business plan is vital for crafting effective strategies. Research the competitive landscape to identify key players, market trends and gaps in services. Understand customer preferences for this type of business and tailor them to your offerings.

Analyze your target audience, such as industries that frequently require shipping services, manufacturers, distributors and eCommerce businesses. Leverage this information to create a marketing strategy that highlights how your trucking services meet their specific needs.

04. Operations plan

The operations plan outlines the practical aspects of running your trucking business. This includes selecting a suitable location for your operations, acquiring premises if needed (like a depot or office space) and determining the number and types of trucks required to fulfill demand. Note that you don’t need an entire fleet to run a successful trucking business; 90% of all companies in the U.S. operate with fewer than six trucks.

Identify staffing needs, from drivers to administrative personnel, and outline their roles and responsibilities. Detail the technology and systems you'll implement for route optimization, real-time tracking and communication.

Tip: If you're looking for a more niche are of operations, check out how to create a box truck business plan .

05. Marketing and advertising strategies

Your marketing and advertising plan should outline how you intend to promote your trucking business and attract clients. Consider utilizing social media platforms and your business website to showcase your services, share industry insights and engage with potential clients. You can also start making a website to create and showcase informative blog posts, videos or infographics about transportation trends, regulatory changes or best practices to establish your expertise.

It’s important to attend industry events, trade shows and conferences to connect with potential clients and partners. Use these events to collaborate with manufacturers, distributors and other businesses that require shipping services to establish mutually beneficial partnerships.

You’ll need to develop a suite of brand assets to use in your marketing as well, starting with a company logo. You can use a free logo maker or trucking logo maker to get a professional design in minutes. Learn how to make a trucking logo for your business.

06. Financial plan

A financial plan outlines the financial aspects of your trucking business, including cost to start an LLC , other startup costs, revenue projections, expenses and profitability timelines. Detail the initial investment required for fleet acquisition (new trucks can cost upwards of $150,000 ), technology implementation, office setup and marketing efforts. Highlight key performance indicators (KPIs) that will be tracked, such as average revenue per load, operating costs per mile and profit margins.

Explain how you intend to fund your business initially, whether through personal savings, loans or investments. Provide a clear timeline for when you anticipate reaching profitability and returning investments to stakeholders.

Trucking business plan examples

Below we’ve put together two draft business plan templates for hypothetical trucking businesses, each including all the sections discussed in our previous how-to steps.

Trucking business plan template 1: UrbanHaul Trucking Services

UrbanHaul Trucking Services aims to revolutionize last-mile logistics in urban areas by offering efficient, eco-friendly freight solutions. With a focus on electric vehicles and smart route optimization, we are committed to reducing congestion and carbon emissions while ensuring prompt deliveries. Our cutting-edge technology ensures real-time tracking and transparency for our clients. Seeking an initial investment of $750,000, our projected growth aligns with the rise in urban eCommerce. Join us in shaping a sustainable future for urban transportation.

Company and domain name

Company name: UrbanHaul Trucking Services

Domain name: www.urbanhaultrucking.com

Market research: Identify key urban areas with high demand for last-mile logistics, noting the challenges of urban traffic and environmental regulations.

Market opportunity: Target eCommerce businesses, local retailers and distribution centers as potential clients.

Location: Centralized office near urban hubs

Premises: Secure depot for vehicle storage and maintenance

Equipment: Fleet of electric trucks equipped with route optimization software

Staffing: Hiring experienced drivers, mechanics and administrative personnel

Online presence: Active social media engagement and informative blog posts

Networking: Participation in urban mobility expos and sustainability events

Content marketing: Publish articles on eco-friendly logistics solutions

Partnerships: Collaborate with local eCommerce platforms and eco-conscious brands

Direct outreach: Target local businesses through personalized email campaigns

Startup costs: Fleet acquisition, technology implementation, office setup

Funding: $400,000 from personal savings, $350,000 from angel investors

Financial projections: Projected revenue growth of 20% annually, aiming to reach profitability within two years

Key metrics: Average revenue per delivery, electric vehicle operational cost savings

Trucking business plan template 2: TransGlobal Logistics Solutions

TransGlobal Logistics Solutions is positioned to be a leading player in the global transportation market. Our diversified services, which range from long-haul trucking to international shipping, provide a comprehensive solution for clients' logistical needs. With an initial investment of $1.5 million, we plan to expand our fleet and enhance our digital infrastructure. Join us in shaping the future of international freight logistics.

Company name: TransGlobal Logistics Solutions

Domain name: www.transgloballogistics.com

Market research: Analyze the international shipping market, identifying growth opportunities and trade routes. Understand the impact of geopolitical factors and trade agreements on the transportation industry.

Market opportunity: Target industries like manufacturing, retail and wholesale that rely on global supply chains.

Location: Strategically located near major transportation hubs

Premises: Warehouses for cross-docking and storage

Equipment: Diverse fleet of trucks, container ships and air cargo carriers

Staffing: Recruitment of experienced logistics professionals, customs experts and international relations specialists

Online presence: Multilingual website showcasing global capabilities, case studies and client testimonials

Networking: Participation in international trade shows and logistics conferences

Content marketing: Publish whitepapers on navigating international shipping regulations

Partnerships: Collaborate with shipping ports, customs brokerage firms and intermodal transport providers

Direct outreach: Connect with exporters and importers through targeted email campaigns

Startup costs: Fleet expansion, digital platform development, staff recruitment

Funding: $1 million from venture capital; $500,000 from business loans

Financial projections: Projected annual growth rate of 15%, aiming to achieve profitability within three years

Key metrics: Revenue per trade lane, customer retention rate, cost savings from optimized logistics

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Do you have a plan for growing your trucking company? If so, you need to put that plan on paper.

A business plan is the most effective way to explain the stability and goals of your company. Banks, investors and other potential partners may ask to see your business plan. Having a well-crafted document to share makes a strong statement about your company.

The process of writing your business plan also has value. It can help you better understand your industry and your own company. Writing a business plan allows you to step back from day-to-day operations and see the big picture. What are your company’s strengths in the marketplace? How is your company different from competitors? Where do you want your company to be in five years? How will you achieve that growth? Having a business plan and updating it at least once a year can help your company identify and achieve its goals.

Every business plan is unique, but there is a formula you can follow. There are also several software products available that walk you through creating a business plan and a financial forecast. Cloud-based software like LivePan costs as little as $11.66 per month and can help you craft a business plan within a few hours. You can also view sample business plans on the Internet, including this gallery of 500 example plans across multiple industries .

Below are key sections to include when writing a simple business plan for your trucking company.

Executive Summary

This section appears first, but you will want to write it after thinking through the other parts of your business plan. The executive summary is a one- to two-page overview that introduces your company and its future plans. It also explains why your company will succeed in meeting its goals.

The executive summary needs to be quick, accurate and filled with good information. If the reader does not find it compelling, he or she will not read the rest of your business plan. The executive summary should highlight the following: your company mission, products and services, performance highlights, financial information and future plans.

Company Description

This section details the history and background of your business. It describes the overall mission of your company and what makes it unique from its competitors. The company description contains key facts about your trucking company: the owners, the year it was incorporated, where you conduct business and the states where the company is registered. If you have several employees, this is where you can outline your organizational structure, as well as roles and responsibilities.

Use this section to promote your company’s competitive advantages. You can write about newly acquired clients, fleet expansions and other recent successes.

Outline the trucking services your company provides and how you are meeting customer needs. For example, a trucking company in Atlanta might explain that it hauls flatbed loads because the southeast has a longer construction season and a large timber industry. Including the customer perspective builds the case that your services are important and in demand.

The services section can also include details about pricing, the materials you haul and the industries that you serve.

Market Analysis

Your market analysis illustrates how well you know your business. It shows your awareness of industry trends, customer needs and how your company plans to capitalize on them.

It is beneficial to provide a broad range of data that explains why your company can excel in a crowded trucking market. The U.S. Small Business Administration suggests these topics should make up your market analysis:

Industry Description and Outlook – How big is your segment of the trucking industry? Who are the major carriers and the biggest shippers?

Your Target Market – What is your company’s sweet spot? Many companies try to specialize in too many markets. Your company can stand out by narrowing its focus to target markets that generate the greatest returns.

Distinguishing Characteristics – Explain the critical needs of potential customers and how your company will meet them.

Size of the Primary Target Market – Provide more detail about your most important market and customers.

Market Share – How much business does your company expect to gain within a specific time period? Explain your logic behind these projections.

Pricing and Gross Margin Targets – Define your company’s pricing structure, margins and any possible discounts.

Competitive Analysis – Show that you have done your homework on your competitors. Describe their strengths and weaknesses.

Regulatory Restrictions – How have government regulations like Hours of Service and fuel emissions guidelines affected your company? How do you expect future restrictions to have an impact?

Sales and Marketing

Now that you have analyzed your market, what is your strategy to gain market share? This section can be split into two categories:

Marketing Strategy – Explain your tactics for building a loyal customer base and attracting new customers. How will you promote your services and what channels will you use to do it (examples: trade publications, social media and email lists)? Does your strategy include acquisitions or major purchases? What industries and regions will you target in promoting your company?

Sales Strategy – Describe the vision for your sales force. Do you plan on adding sales associates or using independent agents? How do you identify prospects and what is your process for calling on them? Explain the closing rate of your sales team and how that contributes to your company’s financial goals.

Financial Projections

This section contains financial statements and information that show your company’s ability to meet its goals. Include basic statements like profit & loss, cash flow, your company balance sheet and your sales forecast. You will also need to paint a picture of how your company will perform over the next five years. Make sure that your projections line up with any financing requests you plan to make to help grow your business.

Your business plan does not have to follow this exact structure. Business plans can differ significantly by industry. You can find thousands of examples of actual plans on the Internet. However, your business plan must be unique to your company and its goals. Writing one may be a lengthy process, but it can help steer your company in a positive direction.

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How to Create a Trucking Business Plan in 6 Steps

January 26, 2022.

Table of Contents

The importance of a trucking business plan.

Every successful business starts with an idea. But to take that idea and turn it into a thriving business, that idea needs to be put into the form of a well written and well-documented business plan.

A proper trucking business plan is a detailed description of the business to be undertaken. It is a dynamic project focused on establishing the myriad of details that are essential to how the business will operate and develop during a given period. It is a roadmap for the entrepreneur to follow, and a valuable source of information for potential investors to make decisions.

And finally, it’s a way to keep your business goals in sight, while still remaining flexible and able to adapt to  ever changing trucking trends and the highly competitive trucking industry.

The importance of a business plan for a trucking company cannot be understated. To put this into a historical perspective, consider for a moment the words of the ancient Chinese general, Sun Tzu, who said, “Plan for what is difficult when it is easy.” The period before you launch your trucking company is the easiest step on the journey to a full operational business. The trucking industry is dynamic, fast-paced, and the unexpected can crop up at every turn.

The more time you spend planning before the launch of your company, the better positioned you will be to succeed.

Business plans are vital for a number of reasons:

• Serves as a guide to managing the entire company strategy
• Helps to establish the feasibility of the company/business venture and if the project is ready to implement, or if it still needs more work\Allows you to demonstrate to lenders and investors your ability to meet your obligations, as an entrepreneur and businessman
• Allows you to demonstrate to lenders and investors your ability to meet your obligations, as an entrepreneur and businessman
• Provides the tools to prevent future inconveniences or have strategies prepared to face those that are unavoidable
• Serves to measure the results achieved and make comparison with the anticipated results
• Allows you to actively work towards making your trucking business more profitable

Here are the basic nuts and bolts of a business plan for a trucking company. When considering how to build a trucking business plan, keep in mind that the business end of things is complex. As you begin the work of shaping your business plan into a live document, keep reviewing the plan, and make revisions and amendments to the plan to account for any areas that may have been overlooked. A template for your business plan may look something like this:

1 - Executive Summary

An executive summary is an overview of the document. The length and scope of your executive summary will vary depending on the type of trucking related business you’re seeking to start. The executive summary is a key part of your documented business plan. It helps to think of the executive summary this way: if key stakeholders read your executive summary, without any additional information provided to them, would they have all the information they need to develop an interest in your plan and make a decision to provide support for the proposed business? If so, your summary served its purpose

1.1 - Market Research and Target Audience

Before starting a trucking business, it's important to do a lot of research on the market. Through this process, you can learn a lot about the business world and find possible customers and target markets. By knowing how the market works, what customers want, and what trends are happening, you can place your business properly and make sure your services meet the needs of your target market.

During your market study, you should think about the following important things:

Trends in the Industry

Keep up with the latest trucking industry trends , technological advances, and changes to the rules. This information will help you change your business to meet the changing needs of the market and keep up with the competition.

Demands from buyers

Know what your possible buyers want and how they want it. Find out what kinds of things they need to ship, when they want them delivered, and if they need any special services.

Geographical Considerations

Look at the places you want to help on a map. Look at each region's transportation system, any organizational problems, and the competition there. This will help you figure out which routes and places will make the most money for your trucking business.

1.2 - Unique Value Proposition

The key to making a strong value proposition is to find and promote your unique features, services, or competitive benefits. Here are some ways to do it:

Find Your Competitive Edge

Look at your business closely and figure out what makes it stand out from the rest. Is it your great customer service, your cutting-edge technology, your specialized tools, or your unique way of managing logistics? Find the things that give you an edge over your competitors and make you stand out in your field.

Understand Customer Pain Points

Put yourself in the shoes of your customers and think about the problems they face when it comes to shipping freight. What problems can you fix better and faster than your competitors? It could mean having faster delivery times, tracking systems that work in real time, extra safety measures for goods, or personalized service that goes above and beyond what is expected.

Focus on Unique Benefits

Once you've found your competitive advantage and figured out what your customers are having trouble with, turn that information into clear and compelling benefits. Explain how your unique features and services directly solve these problems and give your customers clear benefits. Focus on the benefits they will get from picking your trucking business over others, such as saving money, being reliable, being efficient, or getting solutions that are tailored to their needs.

Craft a Powerful Message

Once you know what your unique value proposition is, boil it down into a short, powerful message that will connect with your target audience. Share your value statement in your marketing tools, on your website, and when you talk to customers in person. Make sure your message is clear, interesting, and in line with who you are as a brand.

2 - Business Goals

The best way to set goals is using the SMART methodology

S - Specific

Your goals should be as specific and detailed as possible. There must be no ambiguity in what you are seeking to achieve. Above all, avoid non-specific goals that are unclear and function as the sort of red flags investors and lenders look for when making their decisions.  

M - Measurable

Establish metrics to use for determining if your goal has been met. Establishing a methodology for tracking your progress makes the entire venture, from planning to wheels on the road more tangible. 

A - Achievable

Change is a natural part of business. So are limitations. When setting your goal(s), make sure they are achievable. If they aren’t, make adjustments to your plan and goals to shift an idea from an unachievable dilemma to the achievable goal. 

R – Relevant

The goal must be relevant to your trucking company’s desired program or project and within the limits of any resources you are devoting to the business. Well-defined goals will be relevant, not only emotionally, but also because they bring you closer to your final goal. 

T - Time-limited

The goal must have time limits. Understanding what is and what isn’t possible within a defined amount of time  is crucial to your success. Setting your goals a time limit will help you to remain focused, stay the course, and succeed.

3 - Competitive Analysis

The trucking industry is known for being very competitive, with many companies trying to get a piece of the pie. But there are also ways to specialize in the business, such as with refrigerated fruit, dry loads, and bulk trucks, among other areas. Knowing your specific type of freight and your target market will make it easier to find competitors and possible competitors. To position your trucking business properly, you need to do a full analysis of your competitors. Here are some ways you can learn more about this analysis:

3.1 - Research Your Competitors

Start by figuring out who your main rivals are in your niche. Look for businesses that offer similar services and serve the same kind of customers. Find out about both neighborhood and national rivals to get a full picture of the competition.

3.2 - Analyze Their Strategies

Once you know who your rivals are, you should look into how they run their businesses and what tactics they use. Look at what services they give, how they price them, how big their fleets are, where they serve, and who their customers are. Look at their marketing and sales methods, such as their online presence, their ads, and how they interact with customers.

3.3 - Identify Their Strengths and Weaknesses

Find out what your competitors do well and what they do poorly. What parts of their business are going well, and how do they get new users and keep the ones they have? Is there anything they could be doing better? By finding out what their weaknesses are, you can find ways to set your business apart and offer better services.

4 - Marketing and Sales Strategy

For pushing your trucking services and getting customers in a very competitive industry, you need a strong marketing and sales plan. By using effective marketing strategies and smart sales methods, you can make your brand more visible, get more leads, and eventually grow your business. Here are some important routes and tactics to think about:

4.1 - Networking

Build strong ties with people in the trucking business by networking with workers, associations, and other groups. Attend events, conferences, and trade shows in your industry to meet possible customers, people who have a lot of power in your industry, and business partners. Join online discussions and social media groups to connect with people in the trucking industry.

4.2 - Partner with Freight Brokers

Freight brokers are in the business of putting together shippers with truck drivers who can take their truck loads. The business plan for a freight broker is easy to understand. They make connections with as many shippers as they can in their chosen industry. Then, they talk with shippers to get the best price possible for a load.

4.3 - Referral Programs

A referral program will encourage happy customers to tell others about your trucking services. Customers who bring in new customers for your business should be rewarded in some way. Referrals from people you know can be a great way to build trust and a reputation in your field.

4.4 - Content Marketing

Create useful and helpful material about trucking and shipping to show that you are an expert in the field. Post articles, blog posts, and tips on your website or as guest posts on other websites that are related to your business. Use teaching movies or podcasts to share what you know. This makes your business look like a good source of information and helps potential customers trust you.

5 - Operational Plan and Fleet Management

The operational aspects of having a trucking business are important to make sure everything runs smoothly, keep your fleet in good shape, and make as much money as possible. 

5.1 - Fleet Management

Your business revolves around your fleet of cars. For effective fleet management, your cars need to be properly maintained, tracked, and optimized. Set up a full fleet management system to keep track of where vehicles are, how much fuel they use, when they need to be serviced, and how well their drivers are doing. This gives you the information you need to make good choices, optimize routes, reduce downtime, and make sure orders are made on time.

5.2 - Maintenance and Repairs

Your trucks need to be serviced regularly and fixed ahead of time to stay in good shape and avoid breaking down when you least expect it. Set up a maintenance plan that includes regular checks, upkeep, and fixes. Keep track of the number of miles driven, the number of hours the engine has run, and the repair records to catch any problems early. Make safety checkups, like checking the brakes and maintaining the tires, a top priority to make sure you're following the rules.

5.3 - Driver Recruitment and Training

For your trucking business to do well, you need drivers who are skilled and reliable. Set up a complete system to hire drivers that includes background checks, studies of their driving records, and interviews. Give full training on safe driving, how to handle goods, and how to treat customers. To attract and keep top talent, you should create a good work environment, offer fair pay packages, and give people chances to grow professionally.

5.4 - Efficient route and dispatch

Make sure that your route and dispatch processes are optimized so that you can reduce the number of empty miles, save money on fuel, and get the most out of your resources. Use route planning tools and real-time tracking systems to find the best routes, avoid traffic jams, and make the best use of transport times. For operations to run smoothly, it's important that dispatchers and drivers can talk to each other and work together.

5.5 - Compliance and Safety

Make sure that all federal, state, and local rules about trucking operations, driver hours of service, securing goods, and vehicle upkeep are followed. Keep up with business regulations and keep the right paperwork to avoid fines and legal problems. Implement safety rules and give drivers ongoing training to create an attitude of safety and reduce the number of crashes.

5.6 - Performance Monitoring and Analysis

Check key performance indicators (KPIs) like fuel economy , shipping times, customer happiness, and maintenance costs on a regular basis. Analyze the data to find places to improve and make choices based on the data to improve operating efficiency and make more money. Adapt your methods, technology, and training based on how well they are working.

6 - Financial Projections and Funding

To start a successful trucking business, it's important to make accurate financial forecasts and find the right funds. You can make sure your business is financially stable and growing by making detailed financial plans and looking into different funding options. Here's a look at these important parts in more detail:

6.1 - Financial Projections

Revenue forecasts.

Figure out how much money you expect to make by looking at market demand, your target customer groups, and how you plan to set prices. Think about things like the amount of freight, the distance, the rates, and the yearly changes. Use past data, industry benchmarks, and market studies to make income projections that are realistic.

Estimates of costs

List and figure out all the costs you need to run your trucking business. Some of these costs are fuel, maintenance and repairs, insurance fees, permits and licenses, staff wages, administrative costs, marketing costs, and "overhead" costs. Research business standards and talk to people who work in the field to make sure your estimates are correct.

Profit Margins

Profitability is understood as the degree of profit generated by an investment. It’s the lifeblood of every business. It is a key metric for determining how much has been invested and the amounts returned on that investment.

Think about your costs, price system, and desired return on investment (ROI) to figure out the profit margins you want. Subtract your total costs from your expected sales to figure out your profit margins. Always keep an eye on and change your profit margins to make sure your business is profitable and can last.

The most basic and simple way to calculate the profitability of the investment in a trucking business is done by taking the profit and dividing it by the investment, finally the result is multiplied by 100 to know the percentage.

6.2 - Funding Options

Business loans.

Look into loans from banks, credit unions, or other financial institutions. Make a full business plan that includes your financial forecasts to show to possible lenders. Research loan plans that are made just for small transportation companies. Before agreeing to a loan, you should think about the interest rates, how long you have to pay it back, and if you need to put up protection.

Look for possible investors who are interested in or have experience with shipping. Make a convincing business plan and pitch that show how your business can grow, make money, and offer something special. Think about stock investments. This is when buyers give you money in exchange for ownership shares in your business.

Find out about grants for small businesses in the trucking or shipping industry and apply for them. Look into grants from the federal, state, and local governments, as well as grants from private groups and charities. Pay attention to the requirements for who can apply, when the dates are, and what paperwork is needed.

Self-Funding

If you want to pay for your trucking business on your own, you could use your cash or other assets. This choice gives you more control and ownership, but it may take careful financial planning and a careful look at the risks.

Crowdfunding

Look into sites that let people give money to your business in exchange for awards or benefits in the future. Make an engaging crowdfunding effort that shows off what makes your trucking business special and speaks to people who might want to help.

A well-developed business plan for your trucking company will ensure your strategic goals are realized. The more you plan ahead, the more successful your trucking business will become. The trucking industry is the prime example of business competition in its purest form. Look for ways to improve your competitive edge and gain an advantage over your competitors. Then, work that edge into your plan. Once you’ve established a solid business plan for a trucking company, revisit it often. Look at the plan from different angles, examining it for weaknesses to shore up, strengths to exploit, and anything you may have missed in earlier revisions of the plan.

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Trucking Business Plan

After the introduction, include information like

• Products Served
• Customer Focus
• Mission Statement
• Vision Statement
• Success Factors
• Financial Summary
• Call to action

Tip: Executive summary is a quick overview for your readers. They might not read the whole business plan and only read this section. Thus, make sure to keep it clear, precise, and crisp enough to grab their attention.

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2. Company Overview

Provide a detailed company description in this section. It includes the name of your own trucking business, the location of your office, the legal structure of your business, and other such information.

Also, do not forget to mention the type of your business, for example, your trucking company will be one from below:

• Freight trucking
• Intermodal trucking
• Specialized hauling
• Courier and delivery services
• Bulk commodity trucking
• Dump trucking

After that, mention the history of your company if your business is already in existence. Here is an illustration of the company’s history with the help of Upmetrics:

Also, describe the vision & mission statement of your trucking business along with your future goals. Add the names of the owners along with their qualifications and specifications.

In short, this section should provide an in-depth understanding of your business and business owners.

3. Industry Analysis

This analysis gives all the details about the trucking industry. It will support you in a better understanding of your business.

Here are some questions to ask while conducting industry analysis:

• What is the current size of the trucking industry in the USA?
• What are the major trends in the transportation industry?
• Who are the huge players in the industry and what is their market share?
• How is technology affecting the trucking industry?
• How are fuel prices affecting the operating costs of the businesses?

Conduction this industry analysis will educate you about the market and help you prepare marketing strategies according to the market trends.

In short, industry analysis will help you have a better understanding of the market and support you in making informed decisions.

4. Competitive Analysis

Competitive analysis will help you know your unique selling propositions (USPs) along with your market positioning. You will also be able to know your direct and indirect competitors & other trucking companies.

Start by listing out all your competitors along with their strengths, weaknesses, opportunities, and threats.

Focus more on your direct competitors and ask certain questions like:

• Who do they serve?
• What is their market share?
• What are their USPs?
• What is their pricing strategy?
• What do they need to work on according to their customers?

After conducting competitor analysis, understand your strengths, weaknesses, opportunities, and threats like below to better get your strong points.

This way you can get to know the USP of a trucking company. Once you get the USP, flaunt it in your own business plan.

5. Market Analysis

In the market analysis section, begin with market research and deep dive into the market where your trucking business will operate. Start the section by providing the details of your target market.

Your target market will depend on the trucking services you provide and on the location of your business.

Once you are clear about the target customers, discuss the market trends of the trucking industry. Mention what your customers prefer and what new they want.

For instance, here is the market trends section with the help of Upmetrics:

At the end of the market analysis, do mention the regulatory environment trucking companies need to follow in the particular location.

6. Product and Services

After knowing the market trends and conducting market analysis, give details about the services you will provide. Your trucking services might be one of these:

• Hazardous material transportation
• Freight transportation services
• Specialized transportation
• Intermodal transportation
• Last-mile transportation
• Reefer services
• Container drayage

Mention your time duration of the services in this section, to let your readers know the efficiency and capacity of your trucks. You can also add the images of trucks in this section along with their capacity.

Keep the language of this section understandable and simple to give knowledge about your services to the readers.

7. Sales and Marketing Plan

There are around 750,000 trucking companies in the USA that own at least 1-2 trucks. Therefore, being noticed in this much competition is necessary, which is why you need a proper sales and marketing plan.

Developing a marketing plan means writing down strategies to acquire potential customers and retain them.

Some of the marketing strategies for trucking companies are:

Having a professional website

Having a professional website will spread your reach to a wider audience.  On the website, you can showcase all your services and the images of the trucks directly to potential customers.

Content marketing

Write blog posts, infographics, and articles for the logistics industry in which you can promote your own business. This way you can establish your expertise too in the same niche.

Social media engagement

For a successful trucking company, staying active on social media is a necessity. Share industry trends, news, and other events on social media to engage with your customers.

Email marketing

Build an email list of potential and existing clients and send them newsletters or updates about your services, industry insights, and special promotions.

Once you have noted down how you will acquire customers, then mention the following things:

• Customer acquisition cost
• Your monthly marketing budget

8. Management Team

Letting your readers or investors know who is behind your trucking company will increase the appeal of your business plan.

The management team section tells about the people in charge of the trucking business and their experience of the work. If you have a new trucking company, then showcasing all your experienced managers will make your business look stronger.

Here is an example of a management team:

Management team of Maxwell Truck service

John Maxwell – CEO and Founder

John is the visionary leader who founded Maxwell Truck Service. With over 20 years of experience in the transportation and logistics industry, he sets the company’s strategic direction and oversees overall operations.

Sarah Adams – Chief Operations Officer (COO)

As the COO, Sarah is responsible for the day-to-day operations of the company. She manages dispatch, fleet maintenance, and driver scheduling to ensure efficient and timely delivery of goods.

Michael Turner – Chief Financial Officer (CFO)

Michael is responsible for the financial health of the company. He manages budgets, and financial planning, and oversees financial reporting, ensuring the company’s financial stability and growth.

Karen Simmons – Director of Sales and Marketing

Karen leads the company’s sales and marketing efforts. She develops strategies to attract new clients and maintain strong relationships with existing ones, helping to grow the customer base.

9. Operations Plan

In the whole above plan, we have discussed mentioning your goals, now it is time to write the strategies of daily activities on how to achieve the above-mentioned goals. You can divide these goals into two parts:

Everyday goals

They’re the heart and soul of your trucking business’s daily life, from buying the most appropriate trucks to delivering the goods timely is a tricky thing. These are the everyday heroes that keep your business running smoothly.

Long-term goals

It’s all about milestones: the moments that make you pop the champagne. Picture celebrating your 10,000th timely delivery, hitting that milestone sales figure you’ve dreamt of, or expanding your team.

10. Financial Plan

For a successful trucking business, you will need a proper financial plan with practical financial projections. In the plan, you have to include the income statement, cash flow statement, and balance sheet for 3-5 years.

Income statement

An income statement also known as a profit and loss statement, describes the gross profitability of your business by deducting costs of goods sold from revenue.

For this, you don’t need to be greedy and make practical assumptions so that you can know the actual profitability range of your business. Here is a projected profit and loss statement for 3 years:

Balance sheet

Balance sheets display your assets and liabilities. Although they can contain a lot of details, like equity, goodwill, other intangible assets, etc. Here is an example of a balance sheet for 3 years with the help of Upmetrics:

Cash flow statement

Your cash flow statement helps you see how much money you need to start or grow your business and avoid running out of money. This cash flow should be maintained even for certain months after launch that is before you start making profits.

Surprisingly, you can make a profit but still face financial problems that could lead to bankruptcy. Therefore, you will need proper cash flow planning to avoid such circumstances.

Funding Sources For Trucking Business

Funding a trucking business might be difficult because of the high investments in the truck, various sources to get funding from are:

• Bootstrapping
• Truck financing companies
• Venture capital & angel investors
• Crowdfunding
• Family and friends

Related Trucking Resources

• Cost to Start a Trucking Company
• How to Start a Trucking Company Business

Download a Trucking business plan template

Ready to kick-start your business plan writing process? And not sure where to start? Here you go, download our free trucking business plan pdf , and start writing.

This intuitive, modern, and investment-ready template is designed specifically for trucking businesses. It includes step-by-step instructions & examples to help in creating your own trucking business plan.

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Write Your Business Plan with Upmetrics

Finally! Now you know how to write a business plan for your business with the help of our trucking business plan example. Thus, you are a step closer to beginning or growing your business.

No doubt, writing a business plan with accurate financial projections is daunting, but it is a lot smoother with the help of business plan software . Therefore, take a deep breath, calm down, and get started with writing your business plan.

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Frequently asked questions, should i hire a professional to write my trucking business plan.

Hiring a professional for your business plan is a great option: it will make things easier for you. But no one knows your business better than yourself.

So, try writing your trucking company business plan with the help of business plan software. That way you will get guidance as well as professionalism in your plan.

How often should you update your trucking business plan?

Remember, your trucking business plan is a living document which means it is flexible and open for changes whenever you want. Ideally, at least updating your business plan once a month as per the current situation is advised.

Should I include photos of trucks and equipment in a plan?

Including photos of your trucks and other equipment is a good option to showcase the service range of your trucking business. Do not overuse them, and just include them in your products and services section.

What legal and regulatory aspects should be covered in a trucking business plan?

A trucking company business plan should include various regulatory aspects:

• Business structure
• Licenses and permits
• Vehicle rules compliance
• Driver compliance
• Record keeping

About the Author

Vinay Kevadiya

Vinay Kevadiya is the founder and CEO of Upmetrics, the #1 business planning software. His ultimate goal with Upmetrics is to revolutionize how entrepreneurs create, manage, and execute their business plans. He enjoys sharing his insights on business planning and other relevant topics through his articles and blog posts. Read more

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How to Write a Business Plan For a Trucking Company?

• January 3, 2023

Whether you’re looking to raise funding from private investors or to get a loan from a bank (like a SBA loan) for your trucking business, you will need to prepare a solid business plan.

In this article we go through, step-by-step, all the different sections you need in the business plan of your trucking business. Use this template to create a complete, clear and solid business plan that get you funded.

1. Executive Summary

The executive summary of a business plan gives a sneak peek of the information about your business plan to lenders and/or investors.

If the information you provide here is not concise, informative, and scannable, potential lenders and investors will lose interest.

Though the executive summary is the first and the most important section, it should normally be the last section you write because it will have the summary of different sections included in the entire plan.

Why do you need a business plan for a trucking business?

The purpose of a business plan is to secure funding through one of the following channels:

• Obtain bank financing or secure a loan from other lenders (such as a SBA loan )
• Obtain private investments from investment funds, angel investors, etc.
• Obtain a public or a private grant

How to write an executive summary for a trucking business?

Provide a precise and high-level summary of every section that you have included in the business plan of your trucking business. The information and the data you include in this segment should grab the attention of potential investors and lenders immediately.

Also make sure that the executive summary doesn’t exceed 2 pages in total: it’s supposed to be a summary for investors and lenders who don’t have time to scroll through 40-50 pages, so keep it short and brief.

The executive summary usually consists of 5 major sub-sections:

• Business overview : start by introducing your trucking business, where it is located, the services it offers, and the pricing strategy you want to implement. Mention what sets you apart from other businesses. For instance, if you carry a specific type of freight or if you specialize in long-distance moves, make sure that you also mention that
• Market analysis : summarise the market where you will operate and provide a brief about your target market and narrow down the data to your niche market such as flatbeds, refrigerated loads, tankers, etc. Also give certain data points about the trucking industry in the area where you want to operate (size and growth), as well as an overview of the main competitors, etc.
• People : introduce your trucking business’ management and employee structure. Provide a brief (no more than a couple of sentences each) of the knowledge and experience of the team. Also, mention how the company will be structured (management roles and reporting lines)
• Financial plan: how much profit and revenue do you expect in the next 5 years? When will you reach the break-even point and start making profits? You can include here a chart with your key financials (revenue, gross profit, net profit )
• Funding ask : what loan/investment/grant are you seeking? How much do you need? How long will this last?

Trucking Financial Model

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2. Trucking Business Overview

In this segment of the business plan, you will provide details about the trucking business.

You must answer here some important questions that potential investors and lenders often ask about your business and operations. Here are some examples of questions you must answer:

• What is the rationale behind your opening a trucking business today?
• What’s the trucking business’ location and why did you select that location?
• What will be your area of operation?
• Will you specialize in a specific type of logistics arm, cargo type, or a particular region?
• How many trucks do you intend to buy or lease?
• What will be your pricing strategy and why?
• What will be the legal structure of your company?

a) History of the Project

Any business overview must start with explaining the history of the project. There are 2 components here:

• Passion & experience of the business owner
• Rationale behind starting a trucking business today

Passion & experience

You may or may not have prior experience. If you have experience, speak about it and how it will help you to run your business. For instance, you may have been a dispatcher for a leading trucking business for 5 years, and you have the complete experience of taking orders, sending shipments, and monitoring routes. Now you want to start your own trucking business and use your knowledge to run it more efficiently.

Is there a certain problem (or perhaps, a set of problems) that your trucking business will try to solve when it comes into existence? For example, there may not be any competitive trucking service offering refrigerated trucks or reefer trucks to move perishable goods and your business will fill that gap.

But that’s not all: the market must be suitable for a business to exist and thrive. For instance, if you are trying to open your reefer truck business in an area where shippers usually ship cargo that is neither susceptible to weather nor do they require temperature-controlled transport, you will most likely run into losses. 

Similarly, if the shippers in your area require LTL (less than truckload or partial truckload) shipping, but you specialize in FTL truckload, there may not be enough demand for your services.The rationale behind your project must be backed up by a thorough analysis of the industry in the area where you plan to open your trucking business. This is what we will cover under Market Overview further below.

b) Business Model

This section of the Business Overview should explain your business model. For example:

• Will you buy new trucks or lease trucks for your business?
• If you want to own your fleet instead of hiring subcontractors, where will be your warehouse located?
• Will the warehouse be located at an optimal distance from shippers?
• What type of cargo will you carry?
• Will you offer long distance or short distance move?

What are the different types of trucking companies and services?

There are various types of trucking services that you can select. Some of them include:

• LTL : LTL stands for Less Than Truckload (aka partial truckload). It is a type where a shipper’s cargo will not fill your entire truck. Usually, you will carry cargo from different shippers and each shipper will pay for the space they are using. In this form, shippers do not have enough control over the shipping time and route.
• FTL : FTL stands for Full Truckload. This is the type where a shipper’s cargo will fill your entire truck. The shipper will pay for the entire truck trailer and your truck will follow a specific route and deliver within a specified time.
• Refrigerated Trucks : These are also known as reefer trucks and they are usually used for moving perishable goods such as meat, poultry, fish, etc. You may even move medical or chemical cargo that will require specific temperature and humidity during transport. Simply put, the trucks will have the technology to control temperature and humidity. There will be special monitoring and tracking features, too. Plus, you can operate in both LTL and FTL modes.
• Flatbed Trucking Service : Flatbed trucks are meant for easy loading and unloading of cargo. They are perfect for transporting cargo that is already packaged into vehicles, shipping containers, or material, keeping the cargo protected from the weather. Usually, building supplies and machinery are transported with this service.
• Expedited Trucking Service : You will deliver cargo from point A to point B anytime, anywhere in a hurry. This service is also known as Straight Truck Delivery, and it is best for transporting cargo that is too fragile or too large for air freight, but it still needs to reach its destination quickly.
• Intermodal Freight Shipping : It is a type of service where multiple transport modes are involved. However, a trucking service usually covers the last part. For instance, a shipping container can reach Nebraska from New York via rail, but a trucking service will be required to move it to Norfolk, Nebraska.
• White Glove Service : This is the type of service where you will be responsible for packaging cargo, shipping to a specified location, and unloading and unpacking the cargo. Essentially, you will provide a complete end-to-end solution.

c) Services

The business model you select will define your services. However, you still need to categorically mention all the services you want to offer. If you want to specialize in a specific type of cargo, make sure that you mention that. 

For example, you may specialize in transporting hazardous biochemical material in a temperature-controlled environment with a time-bound delivery schedule. Explain your expertise and experience.

d) Pricing Strategy

This is where you will provide an overview of your pricing strategy. For instance, you may provide trucking services at a lower cost than your competitors because you hire subcontractors, thereby reducing the overhead cost of fleet maintenance.

You may also provide a lower pricing range because of route optimization leading to maximum profitability.

On the other hand, you may charge more than your competitors because of many reasons such as advanced security, guaranteed delivery, hi-tech trucks for cargo safety, and more.

Of course, the pricing strategy will heavily depend on various factors that include (but are not limited to):

• Quick & timely delivery
• Delivery location (geography)
• LTL or FTL model, etc.

Pricing table

While it may not be possible to provide a proper pricing table for all cargo types that you may haul, it is still a great idea to provide a table that gives an overview of your pricing structure.

Here is a sample table that you can refer to and build on that:

However, don’t go into extreme details because potential investors are not interested in the nitty-gritty of your pricing. They just need the big picture to assess the profitability, because they will tie your pricing strategy with financial projections later on.

e) Company Legal Structure

Finally, your business overview section should specify what type of business structure you want. Is this a corporation or a partnership (LLC)? Who are the investors? How much equity percentage do they own? Is there a Board of Directors? If so, whom? Do they have experience in the industry?

3. Trucking Business Market Overview

A complete understanding of the market where you want to operate is important for the success of your business. That’s also something you must showcase in your business plan.

For example, if the customer segment is PC manufacturers, semiconductor manufacturers, and wholesalers of non-perishable products, offering refrigerated or reefer trucks is probably not a good idea. You will be better off with a flatbed trucking service.

Therefore, you must cover here 3 important areas:

• Market trends : how big is the trucking industry in your area? What is its growth rate (or decline rate) and what are the factors contributing to its growth or decline?
• Competition overview : how many competitors are there? How do they compare vs. your business? How can you differentiate yourself from them?
• Customer analysis : who is your target audience? What type of cargo do they usually ship? Do they require quick and timely deliveries? Do they need long-haul deliveries? How frequently do they ship and is there a steady demand?

a) Trucking Industry Status Quo

How big is the trucking industry in the us.

According to Statista , the trucking industry in the US is responsible for moving most of the overland freight in the country. In 2020, the industry was worth $732.3 billion..!

The industry has declined significantly from its peak in 2018 at $797 billion, due to the pandemic. Yet, it already shows signs of recovery in 2021 and 2022.

There are around 3.5 million truck drivers in the United States, of which 1 in 9 are independent and most are owner-operators. 

Considering that trucking dominates the freight industry in the US and there is a shortage of drivers overall, the trucking industry remains a profitable industry nowadays.

How big is the trucking industry in your area?

After getting a clear picture of the trucking industry in the US as a whole, narrow down to your location. It’s very likely that you won’t find the number anywhere (at least not for free).

In that case, you can use our guide to estimate the TAM, SAM, and SOM for your business. Here is an example of how to do it:

We know there are around 1.2 million trucking companies in the US in 2021. Together we know they generate a total annual turnover of $732 billion, so the average annual turnover generated per company is around $610,000.

Therefore, if the area where you want to open your trucking business has 1,000 trucking companies (for example, a large city), you can safely assume that the trucking industry in your area is worth approximately $610 million.

b) Trucking Industry Competition Overview

Studying your competitors’ business models is vital. You need to understand what makes them successful or why they fail. A clear understanding of their business model, the services they provide, their marketing strategies, etc., will allow you to provide a better service.

If your competitors are offering nearly the same services, then what is their market share and how do they market their products & services to attract new customers?

It is always a good idea to do some research (if necessary, you may consider physically visit your competitors without revealing your business intentions) and create a comparative table summarizing their service offerings, marketing strategies, target audience, etc.

Here is a sample table that you can use:

Trucking Business SWOT Analysis

SWOT stands for Strength, Weakness, Opportunities, and Threats. This analysis will help lenders and investors better understand how you compare vs. competitors as well as the overall risk and reward profile of your business.

Here is a sample that you can use as a reference:

• Strengths : 12 years of truck driving experience, 5 years of dispatcher experience with expertise in route optimization for increased profitability, personal connection with reliable brokers, experience in handling hazardous biochemical transport
• Weaknesses : Startup cost, no initial brand reputation
• Opportunities : Research facilities of various pharmaceutical companies in a 50-mile radius, a booming food industry because of the steadily increasing residential population
• Threats : Established players like Schneider National Carriers, J.B. Hunt Transport, etc., are entering the market with a big fleet, and new smaller players (both private and for-hire carriers) are emerging

c) Customer Analysis

This is the sub-section where you will provide a detailed analysis of your target audience.

Some important points that you must include in your customer analysis include:

• What types of companies and businesses are looking for trucking services?
• What type of trucking services are in demand?
• How do they hire trucking businesses (referrals, cold calls, in-person presentations)?
• What do they want to be improved in the current trucking business scenario so that their needs are met in a better way?

You can add as many data points as required to validate your business decision. The idea here is to display your deep understanding of the target audience and their needs, preferences, and expectations. This knowledge can help you to tailor your products & services to attract new customers.

4. Sales & Marketing Strategy

This is the section where you outline your customer acquisition strategy. Try to answer the following questions:

What is your Unique Selling Proposition (USP)?

• What are the different marketing strategies you will use?
• How do you intend to track the success of your marketing strategy ?
• What is your CAC or customer acquisition cost?
• What is your marketing budget?

What marketing channels do trucking businesses use?

A few marketing channels that trucking businesses typically use are:

• Direct visits by sales representatives
• Cold calls & emails
• Billboards & signages

Trucking businesses still rely heavily on direct sales (Sales reps who sign contracts with shippers) and intermediaries: the brokers.

Whether you opt for these standard channels, you must have a fair and nearly accurate estimate of your sales & marketing budget.

For example, whilst direct sales will come up as salaries and commission to your own sales representatives, using brokers will cost you a fee (usually 15%) for each contract. For more information on how much it costs to run a trucking business, read our article here .

In other words, how do you differentiate yourself vs. competitors? This is very important as you might need to win customers from competitors.

A few examples of USPs are:

• Service quality : we offer GPS-based automated route optimization for the fastest delivery for time-sensitive and perishable products in a highly controlled environment optimized for different cargo types
• White Glove : we offer white glove full-service hauling for fragile and hazardous cargo with hi-tech trucks
• Location : we deliver cargo in hard-to-reach locations, thanks to our highly experienced drivers with stellar safety records who can drive through perilous routes

Your USP will depend on your business model, competitor analysis , and target audience. Whatever your USP be, it should be clear and appeal to your target audience.

5. Management & People

You must address two things here:

• The management team and their experience
• The organizational structure : different team members and who reports to whom?

Small businesses often fail because of managerial weaknesses. Thus, having a strong management team is vital. Highlight the experience and education of senior managers that you intend to hire to oversee your trucking business.

Describe their duties, responsibilities, and roles. Also, highlight their previous experience and explain how they succeeded in their previous roles.

It is also important that you explain how their experiences and qualifications help you in implementing the trucking business you are proposing. If they have specialized training and experience (such as years of experience in customer database management, customer service, dispatch & route optimization, etc.), add that information.

Organization Structure

Even if you haven’t already hired a general manager, safety manager, in-house technician, accountant, sales representative, client management representative, dispatcher, and other relevant staff members, you must provide a flowchart of the organizational structure defining hierarchy and reporting lines.

6. Financial Plan

The financial plan is perhaps, with the executive summary, the most important section of any business plan for a freight or trucking company.

Indeed, a solid financial plan tells lenders that your business is viable and can repay the loan you need from them. If you’re looking to raise equity from private investors, a solid financial plan will prove them your trucking business is an attractive investment.

There should be 2 sections to your financial plan section:

• The startup costs of your project (if you plan to start a new trucking business, purchase new trucks, etc.)
• The 5-year financial projections of your trucking company

a) Startup Costs

Before we expand on 5-year financial projections in the following section, it’s always best practice to start with listing the startup costs of your project. For a trucking business, startup costs are all the expenses you incur before you start transporting goods for your customers. These expenses typically are:

• The acquisition of the fleet (the trucks)
• The office & warehouse lease deposit (if you rent) or real estate price (if you buy)
• Office equipment
• Business insurance, etc.

Of course, the startup costs depend on a number of factors, like the number of trucks you operate, whether you own the trucks (if you operate as an owner-operator) or simply subcontract with the drivers who own their trucks, etc.

For example, it costs on average $208,000 to $343,000 to start a small trucking company with 9 trucks (assuming you take on additional debt to buy the trucks).

Note that these costs are for illustrative purposes and may not be fully relevant for your business. For more information on how much it costs to open and run a trucking business, read our article here .

b) Financial Projections

In addition to startup costs, you will also need to build a solid 5-year financial model in the business plan of your trucking company.

Note that your financial projections should be built using a spreadsheet (e.g. Excel or Google Sheets) and presented in the form of tables and charts in your business plan.

As usual, keep it concise here and save details (for example detailed financial statements, financial metrics, key assumptions used for the projections) for the appendix instead.

Your financial projections should answer at least the following questions:

• How much revenue do you expect to generate over the next 5 years?
• When do you expect to break even?
• How much cash will you burn until you get there?
• What’s the impact of a change in pricing (say 15%) on your margins?
• What is your average customer acquisition cost?

You should include here your 3 financial statements (income statement, balance sheet and cash flow statement). This means you must forecast:

• The number of miles ;
• The deadhead rate ;
• Your expected revenue ;
• Operating costs to run the business ;
• The cost to acquire the trucks.

When projecting your financials, make sure to sensitize sales volume (miles), pricing, deadhead rate as well as the expenses (fuel, tolls, salaries, etc.). Indeed, a small change in these assumptions may have a significant impact on your revenues, and most importantly, profits.

7. Use of Funds

This is the last section of the business plan of your freight and trucking company. Now that we have explained what your business model is, what type of freight you transport, how you get customers, etc., this section must now answer the following questions:

• How much funding do you need?
• What financial instrument(s) do you need: is this equity or debt, or even a free-money public grant?
• How long will this funding last?
• Where else does the money come from? If you apply for a SBA loan for example, where does the other part of the investment come from (your own capital, private investors?)

If you raise debt:

• What percentage of the total funding the loan represents?
• What is the corresponding Debt Service Coverage Ratio ?

If you raise equity

• What percentage ownership are you selling as part of this funding round?
• What is the corresponding valuation of your business?

Use of Funds

Any business plan for a trucking business should include a clear use of funds section. This is where you explain how the money will be spent.

Will you spend most of the loan / investment in paying your employees’ salaries and the COGS (fuel, tolls, maintenance)? Or will it cover mostly the cost for leasing or purchasing the trucks?

For the use of funds, we also recommend using a pie chart like the one we have in our financial model template where we outline the main expenses categories as shown below.

Privacy Overview

How to Create a Trucking Business Plan

If you have been frantically searching the phrase “business plan for trucking company” in hopes of starting your own freight business, this guide is for you! 

Below, our experts will provide you with a business plan creation roadmap so detailed that it would make Rand McNally jealous. We’ll break down the entire process into manageable steps so that you can successfully launch your new venture.

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As one of the industry leaders, TAFS assists trucking companies to increase cash flow with factoring rates as low as 2.49%, business loans and 1-Hour Advance options.

What Is a Trucking Business Plan?

Before we outline how to create your trucking business plan, let’s recap what this detailed strategy entails. 

Your trucking business plan should outline all of the major components of your company. It should include information about what you plan to haul, where you would like to operate, and how much revenue you seek to generate. 

In addition, your plan should outline how you intend to hire and manage support staff, drivers, and other employees.

As you can see, a lot goes into creating a trucking business plan. After all, this information lays the foundation for your entire company!

Why Is It Important to Write a Business Plan?

Writing a business plan is important for a variety of reasons. For starters, it helps you turn your dream into a viable revenue-generating strategy. In it, you’ll need to hash out all of the fine details about your business, including your operational plan and the services you intend to offer.

Creating a trucking company business plan is also essential when it comes time to seek funding . Potential investors, financial institutions, and other interested parties will want to see how you plan to generate revenue. 

An incohesive or disjointed plan just might scare off prospective investors. On the other hand, a thoroughly crafted strategy can make seeking out funding much easier.

9 Steps: How to Create a Trucking Business Plan

Now that you know the “what” and “why” of creating a trucking business plan, let’s dive into the how:

Step 1: Executive Summary

During the first part of the creation process, you will need to write an executive summary. This brief summary should provide a general overview of your company: what state you will operate out of, your mission statement, and what prompted you to start your own business.

Step 2: Company Description

Your company description should read much like the “About Us” section on a corporate website. The description should expound upon your mission statement, explain your personal connection to the trucking industry, and provide additional background about the business.

This would be a good time to list out your relevant career experience as a truck driver, operations manager, fleet manager, etc. 

Step 3: Operational Plan

In this step, you’ll need to generate a highly technical operational plan. This plan should describe how you intend to manage processes such as driver dispatching. It should also outline the hierarchy and supervisory structure of the business.

Step 4: Services Offered

The services offered section is one of the most important components of your trucking business plan. This segment should detail what types of freight you intend to haul (i.e., LTL, truckload, refrigerated). You should also outline your pricing structure and demonstrate how your suite of services fills a need in the current market.

Step 5: Market Analysis

When you’re seeking investors, they will be particularly interested in your marketing analysis. This section of your plan should define your target market and should include both competitive analysis and industry analysis.

Target Market: Your target market or target audience refers to the customer base that might need your services. 

Competitive Analysis: As the name suggests, a competitive analysis refers to an assessment of competitors within your market. You should conduct research in order to identify which companies are offering the same services within the region that you intend to operate within. 

This analysis should also include information on their revenue (if publicly available), how many trucks they have, and their pricing model.

Industry Analysis: Whereas a competitive analysis includes information on other trucking companies, industry analysis is focused on the market as a whole. 

This analysis should include information on current trends so that you can predict how the market will change in the future. For instance, the industry analysis should help you determine whether there is projected to be an increase in demand for trucking services in the next 12 months.

Step 6: Management and Personnel

In this section of your trucking business plan, you should outline your company’s approach to hiring and managing employees. This section can detail onboarding processes, when staff will be paid (weekly, bi-weekly, etc.), and how many employees you need to launch your business.

Step 7: Marketing and Sales Strategy

How will prospective clients learn about your services? What mediums will you use to advertise your trucking company? Will you rely on an in-house marketing team? Do you plan to outsource these responsibilities? All of these questions must be answered in this section of your trucking business plan.

Step 8: Funding Request

One of the most challenging parts of creating a trucking business plan is writing out your funding request. This request should not only state how much funding you need to launch your business, but it must also provide a line-by-line breakdown of projected expenses. 

Some of the costs that you should detail in this section include general operating and overhead expenses, equipment purchases, payroll, and insurance premiums.

Step 9: Financial Projections

Your trucking business plan should also include financial projections that outline your estimated earnings during your first year in operation. 

These projections should be highly specific and include quarterly or monthly breakdowns of estimated revenue. 

If you’re already working as an owner-operator, include your current revenue, as this will help potential investors better understand your earning potential.

Step 10: Reassess and Adjust

Lastly, be willing to revisit your trucking business plan periodically. Reassess your plan at least once a quarter so that you can gauge how your business is performing in comparison to your previous projections. This approach will help you make informed decisions about the direction of your business so that you can maximize profitability.

Ready to Start a Trucking Company? 

Once you have created your plan, it is time to find a financial partner that will invest in trucking businesses. Look for a company that offers multiple cash flow solutions including small business loans , credit lines designed specifically for trucking companies, and cash advances. 

As the owner of a trucking business, your earnings will vary depending on the number of drivers you employ, what type of freight you haul, and several other factors.  However, owners can expect to gross approximately $2,000 to $5,000 weekly if they are operating their own vehicle and may earn an additional weekly profit of $500-$2,000 for every truck they have in their fleet.

Owning a trucking company can be quite profitable. However, crafting a great trucking company business plan is key to your success.

 Many small trucking businesses are LLCs or limited liability companies, as this approach insulates the owner and their assets from civil liability. While it may be possible to open your company without becoming an LLC, it is not recommended.

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As one of the industry leaders, TAFS assists trucking companies to increase cash flow with some of the lowest factoring rates in the industry and 1-hour advance option.

Ready or not, self-driving semi-trucks are coming to America’s highways

Autonomous truck companies plan a major expansion this year to deliver your packages and food, speeding well ahead of federal safety regulations.

PALMER, Tex. — Perched in the cab of a 35,000-pound semi-truck lumbering south on Interstate 45, AJ Jenkins watched the road while the big rig’s steering wheel slid through his hands. Jenkins was in the driver’s seat, but he wasn’t driving. The gigantic 18-wheeler was guiding itself.

Over several miles on the popular trucking route between Dallas and Houston, the truck navigated tire debris, maneuvered around a raggedy-looking flatbed and slowed for an emergency vehicle. Exiting the highway, it came to an abrupt stop as a pickup jumped its turn at a four-way intersection.

“You need to be ready for anything,” said Jenkins, 64, a former FedEx driver whose job is to take control if anything goes wrong. “People do some crazy stuff around trucks.”

Operated by Aurora Innovation, the truck is part of a new class of autonomous big rigs plying the nation’s highways. By the end of this year, the trucks will for the first time start traveling alone, without human minders like Jenkins, as two major companies — Aurora and Kodiak Robotics — launch fully autonomous trucks in Texas.

The advent of robot trucks could have a massive impact on America’s supply chain, dramatically reducing the time it takes to transport goods from place to place and unbinding the trucking industry from the costs and physical limitations of human labor. But the technology’s advancement has sparked concerns about highway safety, job loss, a lack of federal regulation and a patchwork of state laws regarding where and how autonomous trucks can operate.

By default, driverless passenger vehicles and trucks can ride anywhere in the United States, unless a state explicitly says they can’t. That means companies can test and operate their vehicles across most of the country. Two dozen states, including Texas, Florida, Arizona and Nevada, specifically allow driverless operations, according to data compiled by Aurora, while another 16 states have no regulations specific to autonomous vehicles. The remaining 10 — including California, Massachusetts and New York — place limits on autonomous vehicles within their borders.

Alarmed by the slow pace of federal regulation, labor and safety advocates are pushing legislation in several states to ban driverless trucks outright. So far, the effort has been unsuccessful. The California legislature approved a measure last year that would have required human operators in all autonomous trucks, but Gov. Gavin Newsom (D) vetoed it, calling it “unnecessary” in light of state regulations that already ban autonomous vehicles over 10,000 pounds.

Transportation experts have been frustrated at how slowly the federal government has moved on the issue, given its potential to disrupt a massive part of the American economy.

Steve Viscelli, a sociologist at the University of Pennsylvania who studies the trucking industry, said autonomous trucking could “change the geography of our economy in the way that railroads and shipping did.”

“There are real concerns that drivers have of the impacts of this,” Viscelli said, “and we need to take them seriously.”

Driverless passenger cars have caused chaos in cities like San Francisco, including one horrific accident last year when a robotaxi hit a jaywalking pedestrian and dragged her about 20 feet. The potential for catastrophe is even greater with massive autonomous trucks, critics say.

“Even with these small vehicles, it has been a disaster,” said Peter Finn, a vice president of the Teamsters Local Union 856, which represents truck drivers. “The notion that there is going to be no human being in large trucks barreling down the highways absolutely frightens me.”

Major expansion

Today, Aurora’s long-haul trucks are transporting packages and produce — about 100 deliveries a week — for FedEx, Uber Freight and others. Founded in 2017 by former executives at Uber, Google’s self-driving project and Tesla, the company has been training its driverless trucks in Texas since 2020.

By the end of this year, Aurora says it plans to have about 20 fully autonomous trucks working the 240-mile stretch between Dallas and Houston. Eventually, it plans to operate thousands of trucks all across America.

Kodiak Robotics, which was founded by a former employee of Uber and Alphabet’s Waymo, similarly plans to launch a fleet of trucks by the end of the year in Texas. A third company, Daimler Trucks — a subsidiary of German-owned Daimler that has partnered with Torc Robotics — is a few years behind, with plans to launch a driverless fleet in America by 2027.

Nat Beuse, Aurora’s chief safety officer, said the self-driving truck industry has been “methodical” in deploying its technology, adopting strict safety standards, including how the trucks respond to various system failures. Beuse said the company has learned from the mistakes of other autonomous vehicle companies, including General Motors-owned Cruise, which recalled its entire driverless fleet after the San Francisco crash.

“The federal government has been clear in that unless a state says you can’t deploy, you can. But that doesn’t mean as a company we don’t have responsibilities,” Beuse said. “This is not a science experiment.”

Marc Williams, executive director of the Texas Department of Transportation, said Texas has a good relationship with the companies testing on its roads. The state has been at the “forefront” of supporting the industry, he said, and it is critical for its economic growth as demand grows for moving freight around the state.

“If we’re going to meet that challenge, it requires us to be successful in these partnership and collaborations with trucking and autonomous trucking industry,” Williams said at a February panel with Partners for Automated Vehicle Education, a coalition of industry advocates.

The average driver would find it tough to spot one of Aurora’s trucks, which bear only a small rear-facing sign that reads “AUTONOMOUS TEST VEHICLE.”

The view from inside the cab looks very different, however. On a recent day in February, two computer screens animated a flurry of potential hazards: Tire debris dotting the shoulder. Impatient SUVs and sedans eager to pass. An SUV merging without a turn signal.

Stephen Tune, a vehicle operations specialist, sat in the passenger seat, monitoring the screens. He narrated the truck’s every movement for Jenkins: “Moving to the right to avoid tire debris,” Tune said as the turn signal began to blink. “Moving to the left as a courtesy to the car behind us.”

On this drive, the truck followed all the rules of the road and even demonstrated an uncommon courtesy to other drivers. But it’s the unexpected scenarios — from errors by human drivers to sudden mechanical issues — that worry veteran truck drivers like Lewie Pugh.

“I know my computer and cellphone make mistakes. Machines can have bad days, too,” said Pugh, executive vice president of the Owner-Operator Independent Drivers Association, a national organization representing professional truck drivers.

While Texas has been the center of autonomous truck testing, companies also have been running vehicles in Oklahoma and New Mexico, among other places. Since 2021, trucks operated by all three major companies have been involved in a handful of traffic incidents, according to data from the National Highway Traffic Safety Administration (NHTSA).

None have been fatal or caused serious injuries, but the incident logs provide a window into the range of obstacles the trucks have faced.

In July 2022, a Daimler truck rolled over an object on a New Mexico highway that punctured its fuel tank, causing oil to spill onto the highway. In December 2023, a deer stumbled onto the path of a Daimler truck testing in Texas. The test driver took over, but the truck still hit the deer.

Earlier that month, a pickup truck trying to overtake an Aurora vehicle hydroplaned and hit the Aurora’s trailer. The Aurora detected the pickup but was unable to avoid contact.

The companies will be attempting to succeed in an industry that has faced setbacks. Waymo, the self-driving company owned by Alphabet, said in July that it would push back the timeline of its trucking efforts so it could instead focus on ride-hailing. Chinese autonomous trucking company TuSimple Holdings wound down its U.S. operations in 2023, a year after one of its automated trucks was involved in a crash while testing.

Still, autonomous trucks will make highways safer, those working on the technology say. According to the latest federal data, 5,788 people were killed in crashes involving a large truck in 2021, representing 13 percent of traffic deaths that year.

Tech moving faster than regulation

As profit-driven companies race toward deployment, the federal government has been slow to grapple with the implications of the new technology. The U.S. Transportation Department has largely allowed the companies to test their products on public roads, as long as companies comply with the same safety standards that apply to traditional human-driven trucks.

Within the Transportation Department, NHTSA and the Federal Motor Carrier Safety Administration have been working for more than five years on a proposal to create basic “safety guardrails” for autonomous trucks, including requirements for remote assistants to monitor the driverless vehicles, inspections and vehicle maintenance. The proposed rule, which was submitted to the White House’s Office of Management and Budget in December, would be the Biden administration’s most significant action on autonomous trucking.

Transportation Department spokesperson Sean Manning was unable to say when the rule might be finalized, as it still has to go through several more bureaucratic steps. Until then, Manning said existing laws prohibit any vehicle, including those equipped with automated technology, from “posing an unreasonable risk to safety.” Meanwhile, NHTSA “will continue its vigorous enforcement using its defect and oversight authorities,” Manning said — including investigations or recalls — if it finds evidence of risk.

Aurora and Kodiak both support the idea of federal regulation, which would give them more certainty about standards as they expand nationally.

“Having a federal framework gives confidence to regulators and the public that the federal government is watching this closely,” said Daniel Goff, the head of policy at Kodiak.

Anxious truck drivers

Richard Gaskill, a truck driver in Texas since 1998, said he spots an autonomous test vehicle every now and then as he carries loads along I45.

“It’s too new for me to trust,” Gaskill, 50, said of the technology. “I don’t like the idea of these being out there taking our jobs.”

Gaskill’s anxiety is shared by union and trade groups like the Teamsters. But a 2021 study from the Transportation Department suggests concerns about widespread job loss may be misplaced: Autonomous trucking could at most lead to 11,000 layoffs in the next five years, the study says — less than 2 percent of the long-haul driver workforce.

Meanwhile, the study notes that the technology could create new job opportunities for maintenance technicians, dispatchers and fuelers while helping to relieve the drudgery that sometimes comes with being a long-haul trucker. And the autonomous truck companies say their technology can help transport goods around the country faster, as robot trucks can drive longer hours than human drivers.

Gaskill doesn’t buy it. He says he can’t fathom how a robot could navigate the nation’s chaotic highways better than he can. But as companies like Aurora expand, he is resigned to the fact that autonomous trucks are part of the future.

“It’s just a matter of time,” he said.

A previous version of this article misstated the year since when Richard Gaskill has been a truck driver in Texas. It is 1998. The article has been corrected.

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How to Fix Your Company’s Culture of Overwork

• Malissa Clark

A three-step process will make everyone less stressed and more productive.

The new age of flexible of work has encouraged a culture of overwork, which is proving to be harmful to the mental health of employees. In her new book, Never Not Working , Malissa Clark offers a three-step process for organizations to reverse this unhealthy relationship: 1) Assess your company’s baseline level of overwork and its origins; 2) Plan for incremental change by targeting places where change will be most effective soonest; and 3) Execute a trial experiment, learn, and iterate.

Associate professor and head of the Healthy Work Lab at the University of Georgia, Malissa Clark, argues that in a post-pandemic work landscape that transcends buildings – and hours — the boundaries of professionalism and personal lives have been blurred. In her new book, Never Not Working: Why the Always-On Culture Is Bad for Business and How to Fix It (Harvard Business Review Press) , Clark explains the current epidemic of overwork, what it looks like at its worst, and how a generation of employees have unknowingly let their work consume them. This excerpt, which is lightly edited, outlines clear steps that organizations can take to correct a culture of overwork for the betterment of their employees.

• MC Malissa Clark is an associate professor of industrial and organizational psychology at the University of Georgia, where she leads the Healthy Work Lab. She is one of the world’s leading scholars on workaholism, overwork, burnout, and employee well-being. In addition to serving as an expert consultant to many organizations on these issues, Clark and her work have been featured in outlets including the New York Times, the BBC, Time, Glamour, The Atlantic, Huffington Post, and others.

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• Per Diem Lookup

Privately owned vehicle (POV) mileage reimbursement rates

GSA has adjusted all POV mileage reimbursement rates effective January 1, 2024.

* Airplane nautical miles (NMs) should be converted into statute miles (SMs) or regular miles when submitting a voucher using the formula (1 NM equals 1.15077945 SMs).

For calculating the mileage difference between airports, please visit the U.S. Department of Transportation's Inter-Airport Distance website.

QUESTIONS: For all travel policy questions, email [email protected] .

Have travel policy questions? Use our ' Have a Question? ' site

PER DIEM LOOK-UP

1 choose a location.

Error, The Per Diem API is not responding. Please try again later.

No results could be found for the location you've entered.

Rates for Alaska, Hawaii, U.S. Territories and Possessions are set by the Department of Defense .

Rates for foreign countries are set by the State Department .

2 Choose a date

Rates are available between 10/1/2021 and 09/30/2024.

The End Date of your trip can not occur before the Start Date.

Traveler reimbursement is based on the location of the work activities and not the accommodations, unless lodging is not available at the work activity, then the agency may authorize the rate where lodging is obtained.

Unless otherwise specified, the per diem locality is defined as "all locations within, or entirely surrounded by, the corporate limits of the key city, including independent entities located within those boundaries."

Per diem localities with county definitions shall include "all locations within, or entirely surrounded by, the corporate limits of the key city as well as the boundaries of the listed counties, including independent entities located within the boundaries of the key city and the listed counties (unless otherwise listed separately)."

When a military installation or Government - related facility(whether or not specifically named) is located partially within more than one city or county boundary, the applicable per diem rate for the entire installation or facility is the higher of the rates which apply to the cities and / or counties, even though part(s) of such activities may be located outside the defined per diem locality.

The real reason Tesla may be giving free trials of its Full Self-Driving software

• Tesla is offering a free monthlong trial of its Full Self-Driving software.
• The driver-assist software is a $12,000 or $199 per month add-on.
• FSD adoption could significantly increase Tesla's profit margins and improve the software.

Tesla has launched a series of initiatives over the past week designed to promote its Full Self-Driving software — the effort could help increase adoption and improve the software in the long term.

Tesla CEO Elon Musk announced on Monday that the electric carmaker would offer its US customers a free trial of the driver-assist software starting this week.

"All US cars that are capable of FSD will be enabled for a one month trial this week," Musk wrote on X.

The billionaire also sent a companywide email on Monday morning telling staff to take customers on a "short test ride" using the carmaker's latest FSD software at delivery and after service visits, according to two emails viewed by Business Insider.

"Almost no one actually realizes how well (supervised) FSD actually works," Musk wrote in the email.

All current Tesla models come with the carmaker's Autopilot driver-assist program . But Tesla owners can also buy the company's FSD beta feature as an add-on either at a $12,000 flat rate or as a $199 monthly subscription.

The FSD beta feature enables the vehicle to automatically change lanes, park on its own, enter and exit highways, and it can also recognize stop signs and traffic lights. It still requires a licensed driver to monitor the system at all times.

Related stories

An increase in FSD subscriptions — a feature that can be installed via an over-the-air update at virtually no cost to Tesla — could significantly increase the company's profit margins. The software also learns in real time by collecting driver data, so the more people Tesla can get using FSD on the road, the faster the system will learn. Musk initially had the goal of getting one million FSD users. As of February 2023, the carmaker said it had about 400,000 FSD users.

"There is financial incentive in mandating a demo of FSD upon delivery. (Tesla's average selling price is $45k; Cost to produce is $36k; Incremental sales of $12k software add-ons is highly gross margin accretive) But the strategic considerations are probably paramount. A happy FSD user will exhort friends and family to buy Tesla," Brett Winton, director of research at ARK Invest, wrote in a post on X that Musk responded to saying "Absolutely." (Ark Invest's CEO, Cathie Wood, has invested hundreds of millions of dollars into Tesla.)

A spokesperson for Tesla did not immediately respond to a request for comment.

Tesla has worked to make FSD more attractive to Tesla owners in the past, including dropping the price by $3,000 last fall and allowing owners to transfer the software between cars for a brief period of time.

In the past Musk has emphasized the importance of Tesla's plans for autonomous driving. During an earnings call last year, Musk said that Tesla could theoretically sell its cars for "zero profit" because of the technology.

"We're the only ones making cars that technically we could sell for zero profit for now, and then yield actually tremendous economics in the future through autonomy," Musk said April 19, 2023. "I'm not sure how many of you will appreciate the profundity of what I've just said, but it is extremely significant."

Musk has characterized Tesla's latest version of FSD, which began rolling out this month, as "mind-blowing." But the billionaire has been promising self-driving cars for years and Tesla's beta software is still only level 2, meaning it requires a licensed driver to monitor it.

The software has also come under increased scrutiny from regulators over the past few years. Last year, Tesla issued a recall via an over-the-air update to address concerns from the National Highway Traffic Safety Administration regarding the software's tendency to "act unsafe around intersections."

Do you own a Tesla or work for the company? Reach out to the reporter via a non-work email and device at [email protected]

Watch: How did Tesla's bulletproof Cybertruck become so expensive and so delayed?

• Main content

• International

March 27, 2024 - Baltimore Key Bridge collapse

By Kathleen Magramo , Antoinette Radford, Alisha Ebrahimji , Maureen Chowdhury , Elise Hammond , Tori B. Powell and Aditi Sangal , CNN

Our live coverage of the Baltimore bridge collapse has moved here .

Here's what you should know about the Key Bridge collapse

From CNN staff

Officials recovered the bodies of two construction workers who were on Baltimore's Francis Scott Key Bridge when it collapsed early Tuesday morning after a 984-foot-long cargo ship collided into a pillar.

Maryland Gov. Wes Moore called the collapse Wednesday " a global crisis ."

"The national economy and the world's economy depends on the Port of Baltimore. The port handles more cars and more farm equipment than any other port in the country," Moore said.

Here's what you should know:

• The victims: The six people who are presumed dead were from Mexico Guatemala, El Salvador and Honduras, according to Col. Roland L. Butler Jr, the superintendent of Maryland State Police. Two bodies were recovered and have been identified as Alejandro Hernandez Fuentes from Mexico and Dorlian Ronial Castillo Cabrera from Guatemala. The two workers were filling potholes on the bridge and were later found trapped in a red pickup truck in about 25 feet of water, Butler said. The FBI is handling notifying the victims' families, Butler said.
• Recovery efforts: Authorities are pausing search efforts for the four other workers who are presumed dead, because additional vehicles are encased in concrete and other debris, making it unsafe for divers, Butler said. Once salvage operations clear the debris, divers will search for more remains, he said.
• The investigation: The National Transportation Safety Board is leading the investigation into the fatal incident, according to the agency's chair Jennifer Homendy. During a Wednesday news conference, Homendy said there were 21 crew members and two pilots on board the Dali cargo ship when it crashed into the bridge. She also said a senior NTSB hazmat investigator identified 56 containers of hazardous material, and that some containers are in the water. The agency received six hours of voyage data from the ship and the investigation could take 12 to 24 months to complete, Homendy said. She emphasized that NTSB will not analyze information collected or provide conclusions while on scene of the collapse.
• Looking forward: Department of Transportation Secretary Pete Buttigieg said rebuilding the bridge will not be "quick or easy" but that it will get done. He said there are four main focus points ahead: reopening the port, dealing with supply chain issues until its reopening, rebuilding the bridge and dealing with traffic issues until the bridge is rebuilt. Biden  pledged the full support  of the federal government in the response and recovery efforts. His administration has already conveyed a sense of urgency to open up federal funding to remove debris and ultimately rebuild the bridge. Maryland has submitted a request to the Biden administration for emergency relief funds "to assist in our work going forward," Moore said Wednesday.

It's almost impossible to place people on the bow of ship due to the unstable structure, fire official says

 From CNN's Sarah Engel

Baltimore City Fire Chief James Wallace said Wednesday that the cargo ship's bridge structure and containers at the bow remain unstable.

"It's going to be very difficult, if not impossible, and very dangerous, to place people on the bow of that boat right now," Wallace told CNN's Kaitlan Collins.

"Naturally, we're still very cognizant of the fact that there are hazardous materials on board the vessel itself," Wallace said, alluding to the National Transportation Safety Board saying earlier that 56 containers were carrying hazardous materials.

Wallace said his team is relying heavily on aerial recognizance, including drones. "That's the only way we're able to see in," he said.  

He added that the aerial surveillance has "been able to really assure us right now we have no [chemical] reactions on board." 

"It's just utter devastation," NTSB chief says of the bridge collapse site

From CNN's Aditi Sangal

Jennifer Homendy, chair of the National Transportation Safety Board, called the site of the Key Bridge collapse "devastating."

"It's pretty devastating, certainly, seeing not just what's going on with the cargo containers, but just looking at what was a bridge span — three bridge spans that is pretty much gone. It's just utter devastation," she said at Wednesday evening's news briefing.

She added that she is thinking of families who lost loved ones and those who are waiting to reunite with their lived ones.

NTSB interviewed the Dali's captain and some other crew members today, agency chief says

The National Transportation Safety Board has interviewed the ship's captain, his mate, the chief engineer and one other engineer today, according to Chair Jennifer Homendy.

The two pilots on board the Dali at the time of collision will be interviewed tomorrow, she added.

Cargo ship's voyage data recorder is basic when compared to an airplane's, NTSB chair says

From CNN's Tori B. Powell

The voyage data recorder on the cargo ship Dali was a "newer model" but is considered basic when compared to that on an airplane, according to National Transportation Safety Board Chair Jennifer Homendy.

"But it is very basic compared to say, a flight data recorder, where we would have 1,000 parameters," she said at a news conference on Wednesday.

The NTSB chief investigator Marcel Muise added:

"It's not a ship-wide system recorder, so most of the sensors that are being recorded are from the bridge. So things like GPS, the audio, rudder feedback, rudder commands are recorded on there. But not engineering, the temperature of each cylinder, power distribution sensors."

There were no tug boats with Dali at the time of the collision. That's normal, NTSB chief says

There were no tugs with Dali when the cargo vessel collided with Baltimore's Key Bridge, which is normal protocol, according to National Transportation Safety Board Chair Jennifer Homendy.

Remember: At 01:26:39 on Tuesday, Dali's pilot made a general very high frequency (VHF) radio call for tugs in the vicinity to assist, the NTSB investigator Marcel Muise had said.

"The tugs help the vessel leave the dock, leave the port and get into the main ship channel. And then they leave. Once it's on its way, it's a straight shot through the channel. So there are no tugs with the vessel at the time. So they were calling for tugs," she said.

NTSB chair says she saw some containers that were carrying hazardous materials in the water

National Transportation Safety Board Chair Jennifer Homendy said she did see some of the 56 containers that were carrying hazardous materials in the water.

When asked how many

When asked how many containers of hazardous materials were in the water, Homendy said:

"I did see some containers in the water, and some breached significantly on the vessel itself," she said. "I don't have an exact number, but it's something that we can provide in an update."

Homendy said that a preliminary report should be out in two to four weeks.

This post has been updated with more quotes from Homendy.

Bridge did not have any redundancy, unlike the preferred method for building bridges today, NTSB chair says

Baltimore's Key Bridge did not have any redundancy, which is included in the preferred method of building bridges in the present day, according to National Transportation Safety Board Chair Jennifer Homendy.

"The bridge is a fracture critical," she explained. "What that means is if a member fails that would likely cause a portion of, or the entire bridge, to collapse, there's no redundancy. The preferred method for building bridges today is that there is redundancy built in, whether that's transmitting loads to another member or some sort of structural redundancy. This bridge did not have redundancy," Homendy said.

There are 17,468 fracture critical bridges in the United States out of 615,000 bridges total, she said, citing the Federal Highway Administration.

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NYC Congestion Pricing:

What Congestion Pricing’s Arrival in NYC Would Mean

Cashless electronic tolling gantries in New York. Officials estimate the new toll would raise $1 billion a year. 

Transit authorities plan to start charging motorists a fee to drive into New York City’s crowded midtown Manhattan as soon as June. The aim of the congestion pricing plan, the first in the US, is to reduce traffic and pollution while raising money for the city’s subways, buses and commuter rails. Officials of the Metropolitan Transportation Authority anticipate cutting the number of daily vehicles entering the district by as much as 20%. The plan, which moved forward March 27 when the MTA board authorized its pricing structure , faces court challenges that could block or delay its implementation.

Economists call it a demand-side solution: Jack up the price of something and demand will fall — producing, in this case, clearer streets and cleaner air. Doing that while also trying to maximize revenue makes things a little tricky. Charge drivers too little, and you’ll make money but still have jams. Charge too much, and you risk turning off too many drivers. That’s great if you’re going for a bike- and pedestrian-friendly city, but not so hot if you really need the cash, too.