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The beginner’s guide toRUNNING A TRUCKING BUSINESS

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Got a question? Need some advice? Give us a ring. 800.705.1500eCapital.com

The beginner’s guide to RUNNING A TRUCKING BUSINESS

IntroductionIf you’re a truck driver who’s just starting out, there might be a learning curve when it comes to understanding the ins and outs of the trucking industry. In the following pages, we give you some tips and information to help guide you down the path of creating a profitable and successful trucking business.

1. Register with the FMCSA Companies that operate commercial vehicles in interstate commerce must register with the FMCSA (Federal Motor Carrier Safety Administration) and obtain a USDOT (Department of Transportation) number. The USDOT number is unique to your company and is utilized when monitoring your company’s safety information.

In some states, you will also need to register for an interstate operating authority or an MC (Motor Carrier) number. The operating authority dictates the type of cargo you can carry.

You can register and find additional information at fmcsa.dot.gov.

2. Obtain the proper license Before you begin a career as a truck driver, you must obtain a CDL (Commercial Drivers License) issued by the state in which you currently reside. You must complete state-required training and testing to demonstrate that you meet the requirements and qualifications to drive heavy vehicles.

CDLs break down into three classes:

Class A: Includes tractor-trailers, truck and trailer combinations, and tractor-trailer busses. Class A license holders can also operate vehicles listed in class B.

Class B: Includes straight trucks, large busses, segmented busses, trucks towing vehicles with GVWR (Gross Combination Weight Rating) of 10,000 pounds or less. Class B license holders can also operate vehicles listed in class C.

Class C: Any vehicle that is not included in classes A or B that carries hazardous materials or is designed to carry 16 or more occupants, including the driver.

In some states, you will also need to register for an interstate operating authority or an MC (Motor Carrier) number. The operating authority dictates the type of cargo you can carry.

Got a question? Need some advice? Give us a ring. 800.705.1500eCapital.com

The beginner’s guide to RUNNING A TRUCKING BUSINESS

3. Find jobs There are several ways to find jobs in the trucking industry. Here are a few:

Browse listings in trade specific publications. Several trucking magazines, such as Landline and Overdrive, have special sections that list current freight jobs.

Utilize online freight matching services. Sign up with online freight matching services, like 123loadboard.com, to find loads. There are also several trucking forums, such as The Trucker’s Report, that offer great resources for trucking professionals including jobs specifically for new drivers.

Be active on social media sites. Connect and network with fellow truck drivers and brokers by using sites like Facebook, Twitter, and LinkedIn.

Lease on with a company. If you’re not ready to go completely on your own, you can always lease on with a company and drive their loads.

4. Manage your finances Keeping a positive and steady cash flow can often be a challenge in the trucking business. Though trucking can be a lucrative career path, there are many operating expenses that come with the job. Manage your cash flow by paying close attention to your balance sheet and by budgeting your expenses.

You can also gain access to a steady cash flow by utilizing a freight factoring service. Invoice factoring is a common financial tool used in the trucking industry that helps you gain early access to your working capital. It’s a simple process that many truck trivers find to be an essential part of their financial strategy. Learn more about factoring by clicking here.

You can also gain access to a steady cash flow by utilizing a freight factoring service. Invoice factoring is a common financial tool used in the trucking industry that helps you gain early access to your working capital.

Got a question? Need some advice? Give us a ring. 800.705.1500eCapital.com

The beginner’s guide to RUNNING A TRUCKING BUSINESS

5. Be safety conscious The safety of yourself, other drivers, and your cargo is your number one priority while out on the road. Be sure to join your local trucking association to stay up-to-date on all state and federal regulations, and stay safe with these simple tips:

• Always pre-inspect your vehicle before making the long haul

• Double check to make sure your cargo is secure• Frequently check for vehicles in your blind spot• Take advantage of your driving height and anticipate

braking situations• Always stay alert and be aware of others on the road• Take care of yourself by getting plenty of sleep, eating

well, and staying fit

About eCapital At eCapital, we’re on a mission to provide businesses with a smart way to improve cash flow. Why? We believe a steady cash flow can change the course of a business. It can help a company define its future—and turn barely breaking even into kicking tail and taking names.

eCapital is a forward-thinking force that enables businesses to make tomorrow better than today. We founded our company on the idea that you simply should not have to wait 30 days or longer to get paid for the work you’ve already done. We pay you sooner. As soon as 24 hours, in fact. That way you can get back to doing great things. Whether that means buying better equipment, hiring more employees, or getting a new gumball machine, eCaptial shares your dreams.

It’s as simple as that. This is our passion. The reason we exist.

Learn more about us at eCapital.com or by calling 800.705.1500.

The safety of yourself, other drivers, and your cargo is your number one priority while out on the road. Be sure to join your local trucking association to stay up-to-date on all state and federal regulations.