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Do you want to set your hours and be independent while driving? Are you planning to venture into the trucking industry but not sure if the trucking business is a good investment? We have all the answers to your question.

The trucking industry keeps everyday life moving, and the industry has continuously grown over the years. With the trucking demands and digital revolution, trucking companies are more valuable than ever. But the National Association of Small Trucking Companies states that about 15% of new trucking companies survive their first year of business.

Well, your trucking company does not have to be one of those 15% statistics. Whether owner-operator or truck driver, you can create a profitable trucking business with careful planning, hard work, and dedication.

At Global Multi-Services, we want to make that happen. That is why we compiled a list of things to consider to ensure your trucking business provides a return on your investments.


Choosing a specified niche determines the services you offer, what equipment you buy, and what rates you charge. It is also one of the best ways to form critical financial planning and make profits.

Look for loopholes in the industry. That is, what customers are lacking in the industry. It is also advisable to pick a niche with less competition directly from large, established companies.

For example, the dry van market is more competitive because it has many established companies and owner-operators. But temperature control is a more profitable niche. There is less competition, seasonal fluctuation, and risk of economic disruptions to the market.


An adequate financial plan is paramount when starting a trucking business. Also, your income must be higher than your expenses to make profits. Therefore, you must know your operational cost. These help you determine the revenue you need to generate to make a profit and how high you need to set your prices.

The operational cost is divided into fixed costs and variable costs.


Fixed costs are predictable costs, and they do not fluctuate over time. They include the following:


Having insurance is mandatory for all trucking companies. Primary auto liability and general liability insurance should be the very minimum. You can also include coverage for physical damage, cargo, medical payment, and reefer breakdown coverage.


Your truck and trailer cost often varies from time to time. However, it will be a fixed cost you pay every month if you take a loan.


Trucking companies must obtain state and federal permits to operate legally in the United States. The Federal Motor Carrier Safety Administration and Department of Motor Carriers ensure trucking companies adhere to the industrial regulations. So, you need funds to apply for your IRP Apportioned License Plates, IFTA License and Decals, UCR Permits, Motor Carrier Authority, and Unified Carrier Registration. These licenses and permits often require yearly or quarterly renewal, which could mean extra fees.


Variable costs are costs that do not fluctuate based on production or revenue-generating activities. They affect cash flow and increase based on your business size.

Variable costs include the following:


Your equipment requires regular maintenance to keep them in good working condition. It varies depending on your operations and equipment.


Food is a must-have, and its prices depend on the area and restaurant. The toll fee also depends on the states you are operating across.


Driver compensation is your highest variable cost. Therefore, carefully plan the types of truck drivers you want to employ. Also, you can work with owner-operators if it’s a better option.


Fuel prices are different in each state, season, and city. So, your fuel cost depends on the miles traveled and the state.


The International Fuel Tax Agreement simplifies fuel tax reporting for trucking companies operating in the contiguous states and Canadian provinces. But they must obtain an IFTA License and IFTA Permit in their base jurisdiction to be qualified. Registered companies must also file IFTA Quarterly Fuel Tax Report to their base jurisdiction totaling miles traveled and fuel purchased in all participating jurisdictions. Your base state calculates the fuel tax you owe each jurisdiction.

With IFTA, trucking companies’ fuel taxes are determined by the fuel cost in their base jurisdiction. That means fuel price at the pump minus their per-gallon state tax. Therefore, always purchase fuel in states and pumps with the lowest price.


Finding loads can sometimes be hard for a new trucking company. So, you need to develop a good strategy for finding shippers. Develop direct relations with shippers and offer a competitive price. These promote your business and maximize your profit margin. You can also find shippers through freight brokers or load boards. But they will charge a fee, reducing your profits.


Running a successful trucking business requires careful planning of your cash flow. Shippers and brokers make payments between 15, 30, and 45 days. So, a cash-flow management strategy is mandatory to keep your business running while waiting for payments.


The trucking industry is highly competitive. Therefore, you must promote your business relentlessly to attract good clients and quotes. Create a website and social media accounts to reach out to your potential customers. Also, attend various networking events and join online communities to connect with people beneficial for your business growth.


Global Multi Services help trucking companies apply for their truck permit and license in the United States. Our experience and expertise allow us to overcome permit application difficulties and obstacles, allowing you to run your trucking business legally.


The trucking industry is one of the industries that people mention when they think about booming industries in the United States. The industry has enormous potential for professional truck drivers that want to start their trucking business. But it is highly competitive and sometimes frustrating.

Building a successful trucking company involves having the right equipment, using the proper safety indicators, and getting the required permits. These truck permits allow you to operate interstate and internationally without violating the regulations. Are you considering transitioning from a professional truck driver or owner-operator to running a trucking company? These blogs from Global Multi Services give details on what to do when starting your trucking business.


Navigating your way through permits in the trucking industry can sometimes be confusing and overwhelming. The Department of Transportation regulates the trucking industry and ensures trucking companies adhere to state and federal regulations. They also ensure motor carriers follow the state requirements for interstate and intrastate transportation. Here are some mandatory permits for trucking companies


The International Fuel Tax agreement simplifies the reporting of fuel used by trucks operating across the conterminous United States and Canadian provinces. Registered trucking companies have a single fuel license. But they also need to file quarterly fuel use tax returns with their base state.


The Unified Carrier Registration is mandatory by the federal government for trucking companies that travel interstate and internationally. Trucking companies must also register their business to receive UCR Permit and pay an annual fee based on fleet size.


The International Registration Plan permits operation under a single registration plate. IRP is issued to trucking companies in their base jurisdiction and requires an annual renewal fee. The state allows them to operate across the United States and Canadian provinces.


A motor carrier authority is an operating authority that gives trucking companies the right to transport goods on public roads. Receiving your MC Authority allow you to operate legally across the United States


Taking a leap of faith by starting your trucking business always comes with mistakes. There are many trials and errors as you learn the valuable lessons of your new business. But these mistakes made can be costly and time-consuming to correct. Here are the most common mistakes trucking companies make when starting their business.


Every detail must match 100% when registering your trucking company. From entity name, owner’s name, address, and Employee Identification Number to the Federal Motor Carrier Safety Administration registration. Spelling mistakes can cause rejection of your registration. It can cost you money to correct.


The Federal Motor Carrier Safety Administration uses the United States Postal Service to notify and communicate with trucking company owners. That means they do not accept PO BOX as a physical address and registering a wrong physical address can create problems.

Many trucking companies now use virtual addresses. They pay other companies to create a virtual for them. This address is accepted through the USPS system, and the company accepts mail on behalf of the trucking company. These also allow trucking companies to create an entity in any state. But this is not possible in states that require proof of residency to approve your International Registration Plan.


Focusing on what you know about trucking and driving is not enough to run a successful trucking business. You must research and understand how the industry works. Running a trucking business can be less exhausting and tiring when you know how to navigate it. Therefore, you need to be mentally ready for the stress that comes with profit. Study on your own or with your startup representative.


Common filing errors include

  • Not having your business identifier listed on the EIN filing.
  • Filing under the wrong entity type.

Obtaining your EIN before registering your business entity with the state can cause rejection of your company name due to similarity to another one in your state.


Rushing your business registration can lead to many errors that can take time and money to correct. Therefore, take your time when registering and ensure everything is correct.

Do you want to be a brokerage, dispatcher, and carrier all at once? You will need a lot of capital and time. These might be too much to handle simultaneously. Register for one first and grow into your other plan. Building your business with a clear vision gives you a higher chance of success.


Every state has a different permit and handles everything differently. Failing to adhere to every state regulation can get you penalized, fined, or your license revoked. Therefore, know the rules of the states you want to operate across. You can also consult a trucking permit company like Global Multi Services for help.



Creating a business plan helps you focus on the core parts of your business. It lays out permits, licenses, capital required, financial projections, and other strategy details. It also keeps you focused on building your company according to a blueprint.


Be prepared physically and mentally. Ask yourself these questions what will I do if my truck breaks down on my first load? How will I run my business if it takes weeks to get paid on my first load? How can I pay my drivers and find loads?


Gathering information for the entire process helps you understand what you are getting into and how to navigate your way. It also avoids confusion or falling into the hands of scammers. Check out online information about starting a trucking company and ask around other people in the industry.


Understanding how to start a trucking company can sound complex and tiring. Realizing the industry is a bit more competitive should not affect your desire to start. With the right business plan, permits, and finance, you can get the wheels rolling in your trucking business.

Do not be afraid to hire a trucking permit service provider like Global Multi Services to help you. Our truck permit services are the best in the United States. We will ensure you have everything completed and filed correctly.


Running a trucking company can be rewarding, but it is not for everyone. People come into this industry with unrealistic expectations to be successful in months. Forgetting there are certain precautions and practices you need to adhere to attain success.

According to reports, more than 500 trucking companies went under in 2019. This trend is said to be caused by unfavorable conditions for new companies in the trucking industry. But the failure of established firms has pointed to other causes.

Trucking companies face risks day in and day out, especially if they are new to the landscape of operation. But these are avoidable with proper planning and having the right help in your corner. Therefore, knowing the common reasons other trucking companies fail can help you prevent being one of them.

In this blog, Global Multi Services gives you a hand-up on the industry by covering why trucking companies continue to fail.


Starting a business is rewarding and life-changing. However, a proper business plan is imperative to its success. Every trucking company needs a firm foundation to build strategies and techniques to operate efficiently. Running a trucking business is the same as running other businesses. But the industry has many state and federal regulations with a unique client base.

Failing to factor them into your business plan may haunt your business later. Therefore, you need thorough research and a plan to build a good foundation. Having a business plan also helps you brace for any possible contingencies. Hence, take time to create your business blueprint and, if possible, involve a corporate attorney. Understand your client base, know the market, and calculate weight surcharges.


Sales activities take place outside the business premises for trucking companies. Therefore, a managerial effort is required to keep track of all the drivers on the road. They also ensure the freight arrives on time and in perfect condition. So, employ a management team to keep track of money flow, bills, operations, and more.

Managers are one of the most important aspects of a business operation, and unskilled managers scare off good employees, making them leave. Therefore, your management team must have qualifications and experience. That way, you will be surrounded by a knowledgeable team with a nodding acquaintance with business success.


Starting a trucking business without considering your cash flow is one of the biggest mistakes business owners make. The cash-flow issue is a combination of many factors. These include low-paying freight, high costs of operations, too many unpaid invoices, etc. Also, clients often take up to two months to pay their invoices, and the trucking company has to cover the costs with its money. To ensure business operations go on, the company needs to foot utility bills, pay employees, build inventory, pay suppliers, get more clients, and cover tax expenses. So, lay out strategies to manage your cash flow with the help of a business management service.


Staying compliant is paramount for trucking companies operating across the United States. The Federal Motor Carrier Safety Administration encourages safe driving and ensures they follow the required regulations. These include obtaining permits, licenses, DOT Compliance, maintenance, etc. Also, every state has its requirements depending on freight, truck weight, and the distance traveled. Failure to adhere to these regulations can lead to fines, penalties, license revocation, or shutdown.


The trucking industry is competitive, and you can only be successful with a comprehensive business plan while identifying and exploiting available market gaps. Do thorough research and avoid unnecessary mistakes. Stick to your plans and learn from your predecessors to be successful.