A bobtail truck business plan should describe many things – the vehicle itself, the sort of routes you will drive, the cargo you can carry, your rates and costs, and the clients you'll most likely wind up working for as an owner-operator of the vehicle. If you already own the truck, compile your costs to date and list them out for your own reference, but do not show them as start-up costs for which you need a loan. If you are trying to acquire a bobtail truck or need to renegotiate the terms of a lease on one, you should show this in your use of funds – but make sure that the operations will cash flow the loan. A banker will want to see that you are a good credit risk and know how to make the business productive. For that, show the following:
• Your experience in the trucking market
• The condition of the industry right now
• Your knowledge of permitting and licensure issues
• The routes you'll travel and the rates (detail here is important)
• The competitors you'll face
The competitive comparison for a trucking business plan is a touchy subject, since you are not always in direct competition with the other truckers on the road. However, if you plan to drive for one specific company, or will be an owner-operator accepting work from various companies, you should at least demonstrate an understanding of the major players in the market so that the bank knows you grasp how the industry is structured today. The pro forma financial model will work best if it lists out the assumptions up front so that they can be modified as needed during plan reviews. Want guidance here? MasterPlans has written hundreds of business plans for the trucking industry and we can get you on your road to funding: 877-453-2011.
