"Behind every great leader there was an even greater logistician," said James M. Cox, the 46th and 48th Governor of the State of Ohio. According to Statista, from 2015 to 2018, there is a steady growth in the number of parcels shipped worldwide, from more than 10 million packages to 15 million boxes. With a 5 million parcel difference, the logistics market is one of the fastest-growing industries worldwide. That's why investing or entering the logistics market is a wise decision. Feel free to browse our Trucking and Logistics documents and other transportation documents to help launch your business and dominate the market today!
What are Trucking and Logistics?
Logistics is directly involved with the evolution of the numerical system. From on-foot delivery to aviation, logistics has, then, changed significantly. Trucking and logistics refer to the transportation of freight from suppliers to consumers such as construction contractors or suppliers. From short to long distances, companies can now deliver cargo quickly and efficiently. Delivering goods from coast to coast became possible! With the rapid development of technology, the future of logistics keeps getting better and better.
How To Start a Trucking and Logistics Business
If you are thinking of starting a Trucking and Logistics business, you may be wondering how to do it or what forms to get. Follow these simple steps to help you kick off your business:
1. Conduct profit and loss analysis.
The first thing you need to do would be to employ financial services companies and research the estimated cost to start your business.
2. Procure permits and licenses.
Next, for a company to perform legally, it needs to obtain a business license first. You would also need to get your Federal DOT and Motor Carrier Authority numbers.
3. Get a Unified Carrier Registration and International Registration Plan (IRP) Tag.
With this, consumers can verify whether there is active insurance coverage or not. With an IRP Tag, your company can commence domestic and international operations across all states, including Canada.
4. Get an International Fuel Tax Agreement (IFTA) Decal.
Fueling your vehicles may require a lot of money. With the help of the IFTA, you can file for fuel tax returns. You may employ the help of an accounting professional for your tax concerns.
5. Procure a Standard Carrier Alpha Code (SCAC).
This code helps people, companies, or other concerned entities identify different trucking companies.
With that, you are all set and good to go!
