India is a country where the trucking industry is thriving and trucks are key to Indian logistics and freight services. This is your chance to open up a truck transport business, own one truck or be a fleet owner. Surprising? Look at the statistics! The current value of India’s logistics market is estimated at 317 billion USD, with an average annual growth rate of 8.8%. It is projected that this will exceed 483 billion USD by 2029. When this occurs, therefore, the number of heavy-duty vehicles must accordingly expand fourfold from four million in 2022 to seventeen million before the year 2050 ends.

But then again, how do I start? What should I do? You can get more information on this topic from here. We provide you with a simple guide on how to start your own truck transport company in India.

1- Research: Find the right vehicle

Your journey starts with research as the first and most important step towards your destination. Spend a significant amount of time researching and looking for the kind of trucks and lorries available in the market and what might be best suitable for your business module.

Now even if you find the right vehicle that suits your needs, this is just your introduction to terms like payload/GVW (otherwise known as gross vehicle weight). 

 

But what is the payload? You might ask! 

The amount of weight a vehicle can fit inside the cabin of a truck is known as payload. The total approved weight and load limit for a vehicle as certified by the transportation authorities is known as the gross vehicle weight of that vehicle/truck.

It is to be noted that load providers contact truckers on a weight basis as they approach them through online booking platforms. Hence, being aware of the load capacity of your truck is very important.

 

Staract A Truck Transport Business In India

 

How does payload affect your business?

When it comes to truck logistics business, a higher payload equals more capacity leading to more revenue with each shipment. But at the same time, the vehicle costs and fuel costs will also increase with the size of your truck. But fret not, you can always find easy load booking, through the TrucksUp – Online Truck Booking App regardless of the size of your truck and lorry.

 

2- Selection: Choose your vehicle features

It is very essential for safety that you identify and understand every feature before making an official purchase of a truck. Just like any other vehicle, trucks, and lorries also come with a lot of features like tiltable steering, cruise control, armrest, seat specifications, and information display among others.

It is best to take advice or suggestions from someone who already knows about trucks or owns a truck for a better understanding of how things work.

 

3- Documentation: Make it official

Every business starts with registration and documentation. Your registration type may vary depending on the number of partners involved.  In this case, it means the registration of your truck business as a partnership, a logistics company, or a sole proprietorship venture.

 

Get your business Insured!

Trucking is a very risky business but that doesn’t mean it’s not worth it! Always start by taking Insurance for your business with a suitable vehicle insurance plan that can cover your damages and loss for future safety. It is of note that, unlike normal instances where you insure your vehicle, in this particular situation you will be ensuring both your vehicle and the load it will carry, covering any risks and possibilities of accidents that might occur. The insurance coverage might vary based on the distance and the kind of load you are carrying.

Along with vehicular and insurance registration, you will also have to register with the road transport authorities and register for GST as well. Take the help of an experienced professional to guide you through the nitty gritty of the documentation process, if you are a first-time truck owner.

 

4- Strategize: Figure out your routes

Trucking is a competitive business and in the era of online booking, the competition is cutthroat. The key to starting a profitable trucking business in India is to make a strategy and detailed plan on the routes you want to cover, so you can get a return load easily and avoid the issue of empty running trucks. Without having the prospects of a return load, the transport business isn’t very profitable.

 

5- Listing: List your truck for online bookings

About 2-3 years ago truckers had to rely heavily on their offline network, agents, and load providers to get load bookings. In the era of online booking, you can easily book a load without having to struggle. Through the TrucksUp app, you can get verified loads from verified load providers on your preferred routes.

 

6- Keep Growing: Mark your presence

Once you are done setting up your online booking listing you can choose, navigate, and measure your growth with the TrucksUp app. Advanced features like load matching, verified load providers, vehicle insurance, live tracking, and much more make truckers feel safe and sound and empower more truckers to start their trucking business in India.