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Most banks won't give reasonable loans, or loans at all, to small, independent trucking companies for start-up equipment like trailers. That means, as you journey to become an independent owner-operator, you're probably funding yourself with your own savings. With all the considerations you now face, from marketing and insurance to salaries and even more insurance for any potential employees, the first few years of your business rely on you having cash on hand to solve problems along the way. Having cash sunk into a trailer, even though it's still an asset for your business, means you can't maneuver as quickly to market your business, expand your payroll, or deal with incidental crises. Keep your cash until your business has enough of a margin for you to safely consider the investment.
If you want to gain more independence and start building up your know-how, try it out by leasing your trailer through a third-party leasing company instead of through a cargo carrier. This puts the onus on you to drive business to your burgeoning company without making you suddenly shift to focusing on 100% of the risk. Then, once you have a handle on owning the business side of trucking, you can consider ownership of trailers that can keep your business growing into different markets.
If you have a dream of owning your own trucking business, that doesn't mean having to own your own trailer. Start developing your business through forecasted business planning and leasing through a third party to build a solid foundation for your business. If you'd like to learn more about leasing your trailer through a third party, please contact Liberty Leasing through Country Supply here.
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