Want a truck driving business plan that you can use to get funded? Truck driving is one of the oldest and best established business models in the U.S., but there are nuances depending on whether you are an owner-operator, working for a trucking company that provides the vehicle, doing short-haul or long-haul routes, etc. You not only need to know these details before you commit pen to paper, you have to understand how they impact the business plan narrative and, more importantly, its financial model. The plan has to prove that you can cash flow an upfront loan, and that means having a steady cash balance and a reasonable set of underlying assumptions in your model, not just pure guesswork. The body of the plan is important too—you should cover:
• The companies you will contract with, if applicable
• The most likely routes and rates
• Your typical carriage/freight, if known
• The market conditions for trucking generally
• An industry analysis for the state you're based in, and a national forecast
Your market analysis in a truck driving business plan should consider at least briefly the presence and role of competitors. Trucking is sometimes seen as a business that runs independent of direct competition, but camaraderie aside, you should profile any contractors whose ability to take on loads in your market or from your same suppliers would limit your driving time. You will also want to include a marketing section if you have to self-promote to get business, and a description of the service itself (i.e., what you can haul, routes, timelines, rates, etc.). The financial model should show a minimum of three years (for a bank) and be sure to double-check that your cash flow stays positive and your Y3 profit is in line with industry averages. Call MasterPlans if you need help with this document. Our team of experts has written for almost 100 different trucking companies to date. (877) 453-2011.
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