In simple words, getting a trucking authority for the first time can be a very daunting experience. Especially when you are exposed to a lot of information, it becomes hard to identify the steps needed to get what you want. So if you have been looking for some concrete information regarding the trucking authority packages or anything else related to it, you’ve come to the right spot. In this feature, we will help you sift through everything that you need to know when investing in this category. However, before we dissect this concept and dive into the details, it is crucial, to begin with, a formal introduction.
What Does it Mean to Have a Personal Trucking Authority?
In simple words, having your own personal trucking authority means to have the government’s permission to receive the money as a trucking company for hauling freight. For your information, the operating authority is only issued by the FMCSA, which stands for the Federal Motor Carrier Safety Administration. Depending on the type of cargo being carried, the authority will vary. Keep in mind; some carriers require multiple authorities before the load is moved. Especially if you have to move a certain cargo within the state, you will have to apply to the relevant authorities.
Are There Any Benefits of Applying for the Trucking Authority?
Long story cut short; there are hundreds of benefits of applying for the motor carrier authority. Once you have been working for a driver for quite some time, it will be an organic process to demand your personal motor car authority. Keep in mind, now, it is huge career growth. It gives you full independence over yourself and enables you to polish your skills. Secondly, when you begin to plan your own business, it becomes imperative to apply for the motor car authority number. Although there is a lot of work involved, you can have your personal drivers.
After a few months, you could also be leading an entire firm directed at transporting heavy luggage from one destination to the other. You will be surprised to know that many people have already joined the bandwagon of this industry. In the future, you could easily have multiple trucks and people working in your organization. For this to happen, you need to be licensed by the state to channel such activities.
How to Start?
If you don’t have hands-on experience of ever stepping foot in this industry, there is no need to panic. All you need to do is, wear confidence on your sleeves and go through the legal route to make things work.
1. Identify the Authority you Need
The first and the most obvious step to take is to identify the authority you need .as discussed earlier; the authority will be in coherence with the cargo that has to be transported to a certain location. However, many states require an intrastate authority as well, that is, a license to move the goods within the city. Not having this document will put you at the receiving end of the damage.
2. Choose a Business Name
It is best for you to file the business within your state. If you don’t know, this is performed by the secretary of state. However, you need to go through the official website to get all the information that you want. Make sure to choose a business name that is unique and makes you stand out amongst the masses. For this to happen, visit the official website to rest assured about not using a name that has already been taken.
3. Choose the Business Structure
It is important for you to know about the total cost that will incur as a result of stepping foot in this industry. Search for limited liability companies, partnerships, corporations, and sole proprietorships before registering your decision. Unless you don’t have a perspective on the business structure, there is no need to cement your decision to become a part of the transport industry. As soon as you decide on the business structure, you can apply for the EIN number and apply for cargo insurance.
Don’t forget to get the MC number as well because it is important for every transport owner out there. Before you begin to channel the business activities, have at least 60 days of cash in your hand.