I read “Freight Broker and Trucking business” by Clement Harrison. it is a step-by-step guide to start grow your own Trucking business.
The reason I read this book is because I want to start my own trucking company. There is a low barrier to entry. I can drive my own truck then grow the company organically. As an Order felon it is probably the best option for me.
The book stated that there was a shortfall of almost 1 million drivers. It is a 27% growth projection over the next 10 years.
The book was very specific on how to start and manage your own business.
It emphasized building a strong foundation in order to safely accelerate your business successfully.
It talk about the 8 reasons why trucking businesses fail:
1. Inadequate business planning
2. Poor Business management
3. Inadequate cash flow
4. No or ineffective collection strategy
5. lack of knowledge of market rates
6. non compliance to legal and safety regs
7. Forming partnerships with the wrong people
8. owners fail to seek professional help.
I will be forming a partnership with someone that has aged out of the industry. She has 5 refrigerated Box trucks and lots of experience.
The book also broke down the many different was to access capital and equipment for lease purchase plans to renting.
I found this book to be very helpful.
