How much does it cost to start a trucking company? (2024)

It costs anywhere between $100,000 to $200,000 to start a trucking company in the United States. This can vary depending on the size and scope of your business, and larger trucking companies require more startup capital.

You also might only need $10,000 to $20,000 of your capital to start it because the rest might be able to be obtained through a small business loan.

Here's a breakdown of the average cost of the requirements of starting a trucking business:

• Registering your trucking business. This is a cost you must account for if you want to operate your trucking company legally.

  Registering your trucking business is a one-time cost that can be up to around $1600. A company must register all the necessary permits to legally transport loads within the country. The registration is first done on a state level.

  Other costs associated with this include:

  • Getting the Tax ID number for your business is a one-time cost of $79.

  • Obtaining your MC and DOT number is a one-time cost of $300.

  • Heavy vehicle tax is a cost you must prepare to deal with annually. This can be anywhere from $100 to $500 per year.

  Additional costs may exist depending on your company's location, services, and clients.

• Purchasing vehicles. Purchasing trucks for your company is one of the most expensive facets.

  The price of a new truck starts at an average of $113,000. A sleeper truck costs around $125,000, and a trailer costs around $50,000. Many start their trucking business by leasing trucks and then purchasing them.

  You might also want to consider purchasing used trucks. Used trucks are priced much lower than brand-new ones. Especially when the business requires specialty trucks like long combinations or loggers, new trucks can cost a small fortune.

  The average price of a used class 8 truck in the United States is $43,808.

  • Maintenance costs for used trucks. The one downside of purchasing used trucks is that they will already have many years of operation, which might mean a lot of repair and maintenance costs.

    A repair on the road costs two to three times more than repairs in your business's home location.

  • IRP plates registration and IFTA. Another annual cost to keep in mind is IRP plate registration and IFTA.

    This can cost you between $1500 to $2000 per year. IRP license plates are meant for trucks traveling specifically on the interstate. IFTA typically comes with the IRP sticker and is renewed yearly as you pay fuel taxes.

  • Insurance costs. One of the most expensive annual costs you will have, aside from paying your drivers, is insurance.

    Insurance services for your trucks and business can cost anywhere from $9000 to $12,000 per year.

  • Hiring and paying truck drivers. Hiring drivers is a big cost.

    The average truck driver in the United States earns $59,925 per year.

    What you pay your truckers will also depend on many factors, such as their experience level, the distances they drive, the frequency of trips, what they are hauling, etc.

    • Additional equipment costs. This varies depending on the type of trucking company you are starting. However, most have additional equipment costs of some kind.

    ELD, trailer trackers, and dash cams are good tech for a trucking business. All three items together cost around $1000 per year.

    Out of these three items, the only requirement is an ELD. An ELD is a tech that captures a driver's driving status to ensure they comply with local, state, and federal regulations.

    It automatically tracks a driver's hours of service and alerts to any violations. The average cost of ELD is $350 per year.