How to Start a Box Truck Business

How to Start a Box Truck Business

What is a Box Truck?

A box truck, also called a box van, cube truck is a chassis cab truck with an enclosed rectangular-shaped cargo area. Some box trucks come with a door between the cabin and the cargo area.

A box truck business is one where you are paid to deliver goods, move items and cargo deliveries. It is used for haulage, rentals and commercial product deliveries. You can operate without a Commercial Driving License(CDL) in running a box truck business. Still, it is of a greater advantage if one is licensed to avoid problems with authorities. In some locations, the average pay for a box truck owner is $110,275 per annum, i.e. $53 per hour. Some factors determine how much one earns from the trucking business. These factors are location, the number of goods delivered, proper management and maintenance of expenses of the truck.

One of the expenses inquired in a trucking business is getting a new box truck. This has posed a major challenge to people who want to venture into the business. A new box truck can go for about $25000-45000.

Truck Classification and Price Range

Box Truck Size                                                                       

Price

Light Duty 2&3                                               25,000-45,000

Medium Duty 4                                              35,000-50,000

Medium Duty 5                                              45,000-70,000 

Medium Duty 6 50,000-90,000    

The prices of trucks could scare one away from venturing into the business due to inadequate funding.

Here is How to Earn From Box Trucking Without Owning a Truck

Apply For a Truck LoanTrucking business is costly to set up if you do not own a personal truck. It requires money, but a loan may be a good start to financing your business if you are short of funds. Note: you have to meet the requirements necessary to get a loan and compare interest rates to get the best options available.

• Renting

Renting a truck to start your business is one solid option to consider rather than just sitting around waiting for money to come. Truck renting companies offer affordable rates for truck rentals.

• Leasing

This is a less expensive medium than purchasing it. Register with a trusted leasing agency, prepare the documents required, always go for agencies with good credit ratings to get the best offers.

• Purchase a Fairly Used Truck

A fairly used truck could come in handy as a great option. Always check the quality and efficiency of the truck before purchase.

• Work or Partner with a truck owner

If you are yet to own a truck, but you know how to drive it, partnerships can be made with a truck owner to schedule flexible contract agreements that are favourable to both parties. One can apply in reliable companies where there is a need for truck drivers as contract staff.

How to Start a Box Truck Business

• Have a Business plan

A business plan is an executive summary of what the business entails. It is very important as it helps arrange and compile thoughts and ideas relating to the business. A good business plan should include budgeting, sales strategy, marketing plans, competitors, target market and growth rates.

• Decide on the business name logo. 

The business name is the brand identity of your brand. It should be brief, easy to recall and simple. Tools like Canva can be used to make brand logos and brochures. A brand name generator can also be used to generate ideal brand names.

• Open a Business Account, Hire staff.

An account must be opened under the trucking business name where payments for services are made, income and revenue are accounted for. It is very vital to separate a private account from a business account. The services of a professional accountant can be hired to make the job easier for maximum results.

• Create an online presence

This website links the trucking services to companies and clients that need them. Subscriptions and services can be booked via websites. Other social media platforms can be linked to the website to build a wider audience.

• Get Insurance and Permits

An insurance policy is necessary to protect the truck against theft and other unforeseen events. Permits and licenses are important for operations.

Box Truck Services

• Delivery Services
• Home moving service
• Towing vans
• Mobile advertising
• Food delivery service
• Junk removal and cleaning services

Though box trucks are expensive to purchase, one can still earn as a box truck service provider without owning a truck. It is a very profitable business venture.