Trucking companies in Canada are growing day by day. Professional truck drivers are in rush to own a trucking company. Why drive for someone, drive for yourself, as a result, take good money home. Opening a Trucking Company in Canada, here is how.
What you need for starting trucking company
Do you want to start an independent truck company? It is hard in starting your own trucking business. In starting, it is good to work locally, local authorities do not need extra paperwork. You need your Commercial Vehicle Operators Registration (CVOR) and insurance at the beginning. According to your fleet size insurance rate varies. Before that register your business. Insurance depends on the type of freight you going to haul. General freight haulers pay fewer insurance premiums. High-value loads like electronics, flatbed loads are higher in insurance premiums.
Major expenses of a trucking company
Fleet insurance is a major expense in starting. It is about $1000 monthly in starting. Age, size of the fleet, miles you run, the weight you haul all affect your insurance premiums. Insurance companies build your record, your premium will decrease if you keep a good record. The success of trucking company depends on the coverage. More coverage, more valuable contracts and great chances of faster success. CVOR application fees is around $250 and $100 yearly. Your CVOR rated yearly according to the safety of equipment, running miles and fleet size.
How to get trucking authority
Now you are all set up with fleet insurance, CVOR and tractor trailers. time to find out a good safety and compliance agent. It is easy to operate in the province of Ontario. If you want to grow your business, you need to go out of province. You need IFTA tax filing information. Hire trucking authorities and permits providers, what they do? they fill up paperwork properly with a small cost.
Make your trucking profitable
Some people say that it is not profitable to have a trucking company. Good equipment, hard-working drivers and valuable freight contracts can generate good revenue. Some challenges are like it is very hard to find professional truck drivers and it is harder to retain them. I worked as a professional truck driver. Pay your drivers on time. Pay odometer miles, not Google maps. Respect drivers and ask your dispatchers to promise with the drivers what they can deliver. Assigning dedicated equipment to drivers is good. they will keep them clean and take good eye mechanical problems.
Good smaller fleets
For smaller fleets, staying longer in business is harder. Keep everything legally safe, logs, payments, assets, and work. It is competition and bidding for work contracts. You will stay in the market if you earn a good reputation. Always teach your drivers to keep customers on the top. They do it if you keep your drivers on the top. Drivers are your advertisement and first point of contact where you earn. Drivers are the biggest asset of smaller fleets, keep them happy and stay longer in business.