The transportation of more than 70% of all freight by weight is handled by the trucking industry, which is a key component of the American economy. The trucking business employed 7.95 million people in 2019 and brought in $791.7 billion in revenue, according to the American Trucking Associations (ATA). The trucking business is still strong and is expected to rise in 2021, despite the pandemic’s effects on the economy. It is predicted that the sector would be worth about $800 billion in 2021.
Opportunities for entrepreneurs to launch their own businesses, such as a trailer business, are created by the expansion of the transportation industry. Purchasing and selling trailers, renting them out, and performing maintenance and repairs are all part of the trailer business. The need for trailers has increased along with the demand for transportation services. Starting a trailer business can be a successful endeavor, particularly if you have a solid understanding of the sector and are able to provide top-notch services.
Towing campers is an additional possibility in the trucking sector. Towing a camper is the process of moving a small to medium-sized camper from one place to another using a truck. If you reside in a location where camping or tourism is popular, this business may be lucrative. You can generate money in this industry by either charging a flat amount each trip or charging by the number of miles traveled. To secure yourself and your clients, you must have the appropriate tools and coverage.
You must acquire a towing license if you want to establish a towing business. For instance, a towing license in Georgia costs $200. State-specific criteria, however, differ for a towing license. In general, you’ll need to pass a background check, have a clean driving record, and possess a commercial driver’s license (CDL). In addition, you’ll need liability insurance and to adhere to other state-specific rules.
You’ll need a tow truck that complies with state requirements to tow cars in Georgia. The truck’s weight, size, kind of hitch, and number of axles are all included in these specs. Additionally, you’ll need the proper safety tools, such as warning triangles, an extinguisher, and emergency lights. The state’s towing laws, which include speed limitations and weight restrictions, must also be followed.
In conclusion, the U.S. economy will continue to rely heavily on the trucking sector, which is predicted to be valued roughly $800 billion in 2021. Entrepreneurs can benefit from the expansion of the industry by creating ventures like trailer sales and camper towing. To run these enterprises securely and lawfully, you must have the necessary tools, coverage, and permits.