Costs Associated with Starting Your Own Trucking Business
Despite the title, it can actually be quite difficult to determine the start up costs that are associated with starting your own trucking business. There are so many factors that vary state to state, including licensing regulations and insurance rates. Potential revenue varies widely too, depending on your location. Before getting too much further in the process you may want to look online at the available local loads for trucks to see what things look like in your area. Generally speaking, however, the trucking business is pretty stable right now and can be incredibly profitable.
Fixed Costs
Fixed costs are costs that are regular business operating costs that are incurred on a monthly basis. Some of these expenses will include monthly truck payments, insurance premiums and payroll. There are also annual fixed costs for things such as permits, licenses and vehicle registration fees.
Variable Costs
Variable costs are non-standard costs that can vary. These expenses can include things like maintenance and repairs, which can be unanticipated if the vehicle needs repair from an accident. Other variable costs can include fuel, lodging and meals.
Vehicle Specific Costs
Because the average 18-wheeler can cost between $130,000 – $180,000 you’ll probably want to … Read more