Statistics from the Small Business Administration show that 95 percent of all small-business ventures fail within the first year, with the primary reason for the failures being a lack of business management skills.
Between that statistic and all of the regulations and other pitfalls small-business truckers face, it’s no surprise that many owner-operators find themselves in difficult situations. But there is help available.
The OOIDA business seminar, Oct. 27-29, is all about the financial side of the business of trucking.
“I think that it includes just about everything you would need to know before you ever get into the business of trucking and the business side of trucking,” seminar organizer and instructor Tom Weakley of the OOIDA Foundation told Land Line Now.
Topics covered include how to write a business plan; how to spec a truck; types of insurance; getting authority; the ins and outs of hauling hazmat; permitting, signing leases and the dangers that go along with certain leases; how to deal with brokers; and how to negotiate contracts.
“It runs the whole gamut of running a business, and that’s invaluable,” Weakley said, “especially from the people right here at OOIDA who deal with that on a daily basis.”
Weakley points out that the seminar is not just for people new to the industry, it’s for people who want to make a change.
“They’re good drivers, and they’ve been good drivers for many years. They understand the industry and how it works, but they’ve never had to do the business part of it – the paperwork part of it – and that is so essential if you’re going to be in business for yourself,” he said.
“There’s just a lot to learn, and hopefully the seminar will help them to not make as many mistakes as without it. We cram a lot into three days.”
The OOIDA business seminar is set for Oct. 27-29 at OOIDA headquarters in Grain Valley, MO, just east of Kansas City at Exit 24 off Interstate 70.
A tuition fee of $450 covers classroom materials and breakfast and lunch each day.
If you’re interested, just call 800-444-5791 and ask for JoAnn in the Membership Department.
– By Land Line and Land Line Now staff