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Small Business Trucking Companies: Is it Worth Investing?

Entrepreneurial individuals have weighed the worth of small business trucking companies for years. Anyone involved in the world of business knows a good investment when they see one, and using this skill when deciding to invest in or start a small commercial trucking company is beneficial. There are a variety of options when doing this, and as can be seen on the hit A&E show Shipping Wars, it's not even necessary to own a tractor-trailer truck, although it is an option, to enter this field. When taking on this endeavor, though, it's important that a person understand all of the benefits and disadvantages that can come along with it. Failure to recognize these can quickly lead to financial ruin. 

Benefits of Running a Small Trucking Company

There are a variety of benefits to running a trucking company. The most obvious is the potential income that a person can make.  In 2012 alone, the trucking industry produced $642.1 billion in revenue related to freight transport. This was over 80 percent of America's freight income, so it's quite obvious that if a person is looking at investing or owning a stake in the shipping industry, commercial trucking is the way to go. 

It should be noted, though, that the profits a company brings in will depend largely on their capacity to ship.  A person who starts their own business and bids for shipments on websites like uShip, for instance, can make a great personal income that will easily sustain them. Those who dream bigger, own several big rigs and contract numerous drivers, though, can see huge profits that can turn into a very successful company.

The Downfalls of Commercial Trucking

Like everything else in life, there are always downfalls to something as beneficial as running small business trucking companies. After all, if there weren't difficulties involved, everyone would take part in this industry. The first thing to consider is the fact that there are very strict federal and state government regulations related to the industry. In fact, a driver will usually face various laws and require different permits for each state that they drive through. Unfortunately, this isn't the biggest issue that can arise. 

Those involved in the trucking industry also have to worry about potential accidents. A recent accident in Missouri, for example, resulted in the injury of two individuals when a driver lost control of his tractor-trailer. The truck in question simply drifted off of the road, so this accident could've been caused by anything from driver fatigue to mechanical error. 

Regardless, the two injured individuals will likely be able to use a truck wreck attorney in Independence, MO to file for compensation against the trucking company. On top of that, the driver, even if he was at fault for the accident, could claim worker's compensation from their employer. In even more disastrous incidents, though, an accident victim could lose their lives. Since 98 percent of those who die in trucking accidents are the people in passenger vehicles, this is a very real possibility. All of this can be financially stressful, but it doesn't necessarily have to ruin a company. 

Getting Small Business Trucking Companies Rolling

A person can get started in the trucking industry by checking the Small Business Association's website for information on regulations in the industry. It's also imperative to seek out an insurer that can provide commercial driver insurance, worker's compensation insurance and the variety of other necessary policies that exist in this profitable world. 

Investing or running a trucking company is definitely a timely and sometimes difficult endeavor, but the payoff when it's successful is well worth the time and energy. It's important, though, to cover all of one's bases when doing this. Failing to meet appropriate regulations or invest in the right type of insurance can turn into a disaster, and in the end, this could even affect an individual's personal assets on top of their business's. Fortunately for those who take the appropriate proactive steps, commercial trucking can prove to be very rewarding.

Lisa Coleman shares some facts and figures that should be taken into consideration when investing or starting small business trucking companies, including the potential for accident risk. She recently viewed online the importance a truck wreck attorney in Independence can make for a victim involved in such an accident.

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