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Trucking - How to Become an Independent Owner Operator
Rating: 4.2 out of 5(180 ratings)
784 students

Trucking - How to Become an Independent Owner Operator

Trucking Business Success - Understanding The Business Of Trucking And Developing The Knowledge And Skills To Succeed!
Created byL.D. Sewell Publications and Training
Last updated 4/2018
English

What you'll learn

  • How to build a successful and efficient business with a single truck as an independent owner operator.
  • Develop goals and plans for success before you start
  • Understand fundamental regulatory requirements
  • Considerations in choosing the right name for your company
  • Business entity choices and other related issues to consider
  • How to get loads and load selection considerations
  • Start building your customer database immediately and manage it effectively
  • How and why so many others fail and how to avoid following them
  • How to continue your trucking business education and how to get additional resources and support all along the way

Course content

6 sections • 43 lectures • 1h 41m total length

  • Introduction1:46
  • Key Points For Section 10:55
  • Why You Should Become an Independent Owner Operator Instead of a Lease Driver2:35
  • What You Must Know to Be Successful1:36
  • How to Come Up With The Cash to Start Your Company Debt Free1:41

    Choose self-discipline and patience to fund your trucking business debt-free, avoiding high-interest loans, and build long-term wealth by not carrying truck or trailer payments.

  • Build Reserve Funds - Then Maintain Them3:54
  • Deciding on Your Company Name and How It Matters2:08

    Choose a company name that reflects your trucking business and future growth. Avoid absurd or offensive options, and consider business image, expansion, and potential sale to keep the name flexible.

  • Obtaining Insurance - Get The Right Insurance Lined Up First!4:26

    Secure trucking insurance that meets financial responsibility regulations, exceeds minimums, with clear per-incident coverage, vehicle valuation, and documented driver requirements. Choose a trucking-savvy insurer with written terms.

  • Choose Your Goals and Come Up With Your Plan2:17
  • How to Set Up Your Company1:30

    Draft a concise formal business plan and policy manual for your trucking company. Outline your description, growth goals, and steps to turn your vision into reality.

  • Getting Your DOT Number and Your Authority to Operate1:15
  • Selecting, Evaluating and Buying Your First Truck2:12
  • Finding and Buying the Right Trailer2:22

Requirements

  • No prerequisites. Anyone interested can take this course at anytime - However I HIGHLY RECOMMEND at least a good solid year as a company driver before actually becoming an owner operator. This course is intended for people who plan to become actual INDEPENDENT owner operators - not lease drivers or independent contractors, though all are welcome to take the course it is geared to those who will obtain their own authority and start their own company, get their own freight and make their own decisions. People who are willing to accept the risk and the responsibility in order to get the bigger rewards that come with being a successful independent owner operator.

Description

To be an independent owner operator it is necessary to be a good driver - but to be a successful owner operator you will need much more than that.

You must master the essential things that are necessary to run an efficient trucking business - and that is where far too many fall so short. Their dreams fade quickly into nightmares that often end in complete failure. Then broken, disillusioned and financially broke - or worse - deeper in debt, they return to driving for someone else as a company driver. Not by choice but out of desperation to survive. That is tragic.

Instead I strongly suggest that you stack the odds in your favor instead of against you by learning what you need to know before you even get started!

This course will walk you through all the key things you need to know including a complete overview of the business of trucking and some of the many options that are available to you. You will also learn how to get access to additional information, resources and support that can help you build your own trucking business successfully.

We will cover the basics of how to choose your business entity type, company name, getting your authority, regulatory considerations, risk management, freight acquisition, planning, management, customer relationship building and additional revenue and profit considerations as you grow your business.

Trucking is a fascinating and complicated business. No single course, book or manual can ever provide you with every detail you need to know - and neither will this course. But it will give you a very good start in the right direction and the ability to continue your training and education as you build your business. You will know where and how to get the regulatory information that you need, and that frequently changes. You will also have a good basic understanding of the other key areas you need to understand in order to build your business the right way while avoiding the many common mistakes others repeatedly make. 

Who this course is for:

  • Truck drivers, potential truck driver, and other people interested in becoming successful independent owner operators.

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