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Successful Truck Owner Operator
The following are excerpts from the “The Successful Truck Owner Operator”.
Dear Trucking Partner:
Congratulations on your decision of starting your owner operator trucking business. The success of the American economy depends on enterprising men and women like you who make their living in this field.
The independent truck owner-operator faces a unique and challenging business environment as (s)he conducts business on the open road from a truck that not only serves as an office, but also as a second home.
Motivation and hard work alone will not guarantee success. You have to possess business skills, technical knowledge and industry experience to succeed as an owner-operator. Our business manual will guide you through the process of getting started in trucking. Then it will show you how to develop a business plan and how to successfully manage your day-to-day operations and become a successful dispatcher. Finally, it will explain why and how you can obtain your own operating authority. Thank you for choosing our publication “The Successful TruckOwner Operator.” Best wishes for a successful future,
Use this list as your guide:
• Years of driving experience• Trucking-related skills• Mechanical skills
• Basic business experience• Money management skills• Computer
• Familiar with Internet• Communication style• Stress management
• Crisis management• Motivation and endurance
• Willingness to learn• Flexibility• Willingness to sacrifice
• Other experience
The owner operator trucking business industry’s fortunes falls and rises with the American economy.
At this time, the outlook for 2016 is courteous optimistic and industry experts expect a slow but steady recovery of the economic growth experienced in 2014 will continue into next year. For 2016, a growth rate in the 3.5 – 5% range in the first quarter of 2016 is anticipated. Predicting the heavy truck market for 2016……..
The revised hours of Service Regulations:
On January 4, 2004, the Revised Hours-Of-Service Regulations went into effect and the Federal Motor Carrier Safety Administration (FMCSA) and its state enforcement partners began enforcing the final rule on that date. Despite recent court challenges, carriers, independent truckers, and Owner Operators are required to operate under these new rules……..
The Commercial Drivers License:
Since April 1, 1992, the Federal Motor Carrier Safety Administration (FMCSA) has required drivers to possess a Commercial Driver’s License (CDL) to operate commercial motor vehicles (CMV)………
The purpose of the CSA 2010 initiative is to develop more effective and efficient methods for FMCSA, together with industry and state partners, to achieve its mission of reducing commercial motor vehicle (CMV) crashes, fatalities, and injuries.
How will your operation be impacted by CSA2010?
Because CSA2010 will audit ALL carriers and drivers and their violations, and will impose harsher fines and penalties than ever before, it will be imperative that your company understands the changes this new initiative brings to the trucking industry.
CSA2010 will employ COMPASS, an electronic database for keeping records on carrier safety ratings. This system, in addition to data gathered from roadside violations, and crash reports, will enable the FMCSA to monitor carrier performance, and identify those requiring intervention…….
Sole proprietorships, partnerships, corporations, and limited liability companies are the most common legal structures for small businesses. No one legal structure is right for all small businesses. Whether starting the business as a sole proprietor or choosing one of the more complicated organizational structures depends on several factors……
Buying your truck:
Starting a business requires a significant capital investment. And few start-ups have succeeded on a shoestring budget.
This is especially true for the capital-intensive transportation industry. The start-up Owner-Operator needs cash for the down payment on a truck, the registration, permits, and insurance as well as for the day-to–day operation of the truck until revenue starts flowing in. Buying that first truck is an emotional……….
Maintenance and Repair:
Getting your truck serviced regularly and keeping it well maintained will help prevent costly repairs and breakdowns on the road as well as extends the lifespan of your equipment……….
The Federal Highway Administration (FHA) and its agencies is the regulatory authority for the trucking industry. A motor carrier must obtain an interstate operating authority from FHA before the carrier can engage in interstate trucking……
Keeping Business Records – Managing your Money – Copst Per Mile Calculation – Registration and Taxes
Log Book and Trip Sheet…….and more.