How Much Money Can You Make Owning A Box Truck for Business and Truck Checklist to Get You Started?

Is Box Truck Business Profitable: How To Make Money in Box Trucking!

Is trucking business profitable and worth taking on? The Box truck business is one that you can trust to turn in a lot of profit if you do it right. They are preferably used for short-distance moves and often rotate within a city or around it.

The box truck business will thrive in a well-populated city, where you will deploy them to move items to and fro from the market.

Other uses include moving from one apartment to another or students moving from one dorm room to another room. 

Owning a box truck in such a city may mean a step in the right direction or financial freedom. All you need to do is present your box truck business in a unique and authentic form, irrespective of whether you own the company or you are a driver/employee or an independent contractor.  

So, is owning a box truck profitable and how to make money with a box truck? Read along as we shared vital details with you

Is Box Truck Business Profitable?

Are you thinking of launching a box truck business and wondering what future hold or how much can you make owning a box truck? The trucking market is competitive, but these enterprises are becoming more popular as internet purchasing becomes more prominent.

You may ask, is trucking business profitable, or is owning a box truck profitable? Yes, owning a box trucking company or a box truck can be profitable.

Heavy or large item shipping is one of the most profitable forms of box trucking companies. These companies might be more successful since they have fewer competitors and the items they convey are in great demand.

These trucks are also among the most popular commercial vehicles. You can come up with many strategies to help your firm stand out from the competition in this competitive industry with some originality and inspiration.

Male and female workers talk and laugh

How Much Money Can You Make Owning a Box Truck?

So, how much can you make owning a trucking company? Depending on your objectives, the figures associated with income produced from owning a box truck will undoubtedly pique your interest. To answer your question, how much can you make owning a box truck or how to make money with a box truck? 

The average annual salary for a BOX Truck Owner Operator in the United States is $112,015 as of November 20, 2022. In case you need a quick salary calculator, that works out to about $53.85 per hour. This equates to $2,154 each week or $9,334 per.

Let’s see the top 7 cities for truck owner-operators in the United States of America.

City Annual Salary Monthly Pay Weekly Pay Hourly Pay
Atkinson, NE $144,283 $12,023 $2,774 $69.37
Frankston, TX $137,616 $11,468 $2,646 $66.16
Inverness, CA $134,315 $11,192 $2,582 $64.57
Barnstable Town,  $133,374 $11,114 $2,564 $64.12
MADimondale, MI $128,686 $10,723 $2,474 $61.87
Manhattan, NY $128,271 $10,689 $2,466 $61.67
Hooper Bay, AK $127,640 $10,636 $2,454 $61.37

Trucking Company Profit Margin

For many years many people have asked, is box truck a good business? What are box truck profits? What is box truck revenue?  How much do trucking companies make? and How do trucking companies make money?

Well, numbers do not lie; to say the least, this industry has been on eagles’ wings. For the majority of the decade, the average trucking firm’s profit margin remained between 2.4% and 4%.

By 2018, that ratio had risen to almost 6%, and as the economy recovered from the 2020 pandemic disruptions, profit margins in transportation businesses increased even further. 

The pre-tax profit margin for the larger transport and logistics industry averaged more than 7% in the first two quarters of 2021. Many owner-operators and small fleets may continue operating at the bottom of the profit margin spectrum. How can you increase that figure?

The simplest solution is to shift the numbers on either side of the profit equation: reduce costs while increasing income. Here are ten suggestions for each, for a total of 20 strategies to increase profit margins in your carrier business.

Lady record package from a male

10 Cost-Cutting Strategies to Increase Your Trucking Company’s Profit Margin

  • Outsource office tasks.
  • Keep up with preventative maintenance.
  • Monitor driver performance.
  • Purchase gasoline cards.
  • Participate in weigh station and toll bypass programs.
  • Shop around for reduced vendor prices.
  • Combine insurance policies.
  • Become a member of the Owner-Operator Independent Drivers Association (OOIDA).
  • Improve reward schemes.
  • Maintain your compliance.

10 Revenue-Increasing Trucking Company Growth Strategies

  • Know your cost per mile.
  • Plan more short trips.
  • Maintain relationships with returning consumers.
  • Work with shippers directly rather than through brokers.
  • Invest in new equipment to broaden your service offerings.
  • Increase your fleet size.
  • Cut down on deadhead mileage.
  • Expand your customer base.
  • Combine seasonal work to cover the entire year.
  • Reduce driver turnover.

Man working on his delivery

Box Truck Business Plan

A box trucking business plan offers an overview of your biz as it currently exists and outlines your growth strategy for the following five years. It explains your company’s aims and plans for achieving them. Market research is also included to back up your plans.

The response to the question, “Is starting a box truck business profitable?” Yes, if you do it correctly, you can make money from trucking. And your company plan can play a significant role in doing it correctly. 

A box truck business plan is required to start or expand an existing box truck firm. A good box truck business plan example will assist you in raising capital, if necessary, and planning the growth of your box truck firm to increase your chances of success.

The box truck market has risen at a faster-than-average rate in recent years, driving up demand for box truck business plans, box truck business plan templates, and box truck proforma financial predictions.

An executive summary, corporate analysis, competitive analysis, service description, industry study, market survey or research, funding requests, and financial predictions are also essential components of a strong plan. 

You should revise your box truck business plan on a yearly basis as your firm develops and changes.

How to Make Money With a Box Truck?

How much can you make owning a trucking company? There are main ways to make money with a box truck, and you have to choose one and focus on it squarely.

The three ways to making money with box truck are:

  • By starting your Box truck business
  • By being an independent contractor
  • Working for someone or a company

We believe breaking them down will help you know which category to fit into and excel effortlessly compared to others.  Learn about box trucking financing here!

Senior couple receive key

  • Understand intricacies and legally start

Before owning a box truck business, we advise that you have some quality experience before plunging into this solo path. Do not focus on the benefits alone, experience should also precede ownership, or you will get frustrated early.

Now let’s give you some details, how to get rich in the trucking business. The first step to making money from this business is to go legal. Fill out some legal papers like a truck lease, insurance, Limited liability company, etc.

Then focus on vital daily routine – efficiency, excellence, and reliability. Make deliveries, satisfy your clients and scale up your income and revenue.

After a while, you can invest some money into advertising your brand and leasing or owning more box trucks to add to your fleet. The goal is to cover as many areas as possible and make your brand a household name for excellence, reliability, and sift deliveries. 

  • Working as an Independent Contractor

Like owning a box truck business, becoming an independent contractor requires some level of experience in the game. As an independent contractor, you control who you work for at any given time. 

How to make money as an independent contractor? You are tasked with the primary responsibility of finding jobs so you can earn some money. You must be conscious of your rate per mile and never go below it if you want to profit from your business. 

Secondly, knowing the dimensions of your truck is non-negotiable.  A decent knowledge of your truck’s dimensions helps you understand the kinds of contracts you can take on and those you should ignore because they are beyond your truck’s capacity. 

Thirdly, sourcing for jobs is a fundamental skill you must have if your path as an independent contractor will thrive.

We advise that you take a look at the popular load boards such as Direct Freight, 123LoadBoard, TruckStop, and DAT Edge or look out for box truck owners like ZipRecruiter, Indeed, or Glassdoor. 

Van driver with packages on the front seat

  • Work for a company as a driver

Working for a company or someone else eliminates the strain from administrative duties as a box truck driver. Things like procurement of the box truck, repair cost and maintenance, sourcing for clients, or contracts are taken out of the way. The company takes up the stress and administrative duties.

As a driver, you are concerned primarily with delivery and knowing the number of miles you are to cover to earn money. Your payment often comes in monthly or bi-weekly. 

Box Truck for Sale – New Vs. Used

Purchasing a commercial truck is a significant financial investment, and if you intend to do so, you should conduct extensive research to broaden your knowledge base. To get a nice truck, you need to have enough knowledge to make an informed purchasing decision.

If you’re just starting out and trying to stick to a tight budget, buying used is always the best option! Before you Google “used box trucks for sale” do your homework to figure out what kind of used truck your company requires.

These are just a few of the advantages of purchasing a used commercial box truck.

  • Savings – a used truck is always less expensive than a new truck of the same model. However, in order to realize your savings, you must first decide whether the used vehicle is in acceptable shape.
  • Lower depreciation rate – Unlike new units, a used truck will not lose a lot of value after you drive it off the lot.
  • You can use the cargo box’s exterior walls as a moving billboard to promote your company!

Man move boxes with a hand trolley

Things To Lookout for When Buying a Used Box Truck 

In most cases, older such as 26 foot box truck for sale are so inexpensive that we overlook the potential drawbacks of purchasing one.

As a general guideline, you should be skeptical of deals that appear to be too good to be true. To avoid potentially costly mistakes associated with cheap box trucks for sale, keep the following things in mind before making a purchase decision:

1. Condition of the tires

The state of the tires can reveal information about how the truck was treated by its previous owner. You should also inspect the inside of each tire for evidence of oil or leaking braking fluid.

2. Coolant for the Truck’s engine

Raise the hood to inspect the engine fluids’ condition. Check out the coolant. Coolant that appears rusty or brownish indicates the presence of rust or other deposits in the engine, heater core, and radiator.

3. Engine Surface and Air Filter

If excessive dirt is trapped in the air filter and considerable volumes of grease and oil accumulate on the engine, it is apparent that the previous owner did not properly maintain the truck.

4. Motor Oil

Dark, sticky oil indicates the presence of sludge and debris, which can cause damage to the engine’s moving parts. It also implies that the truck has habitually skipped its oil change. Check the vehicle’s oil change records to confirm this.

5. Body exterior & Interior 

Rust can appear anywhere on the body of a truck. Look for it everywhere, including the roof! You may find rust in places you least expect.

6. Window and door seals

Examine all door and window seals to ensure they are in good working order. Faulty doors can provide a safety and security issue, and poor seals might result in water leaks in the truck cabin.

7. Lights

Inspect and test all lights to ensure they are operational. Malfunctioning lights might indicate electrical faults that, if left unchecked, can become dangerous.

Mini truck in a warehouse

8. Truck’s Mileage

If you suspect that the mileage is too low compared to the truck’s age, engine, and body condition, go on to the next prospect.

Even if you have completed your inspection, you may require additional information to ensure that you select the right vehicle. You should also be aware of the following facts about your prospective vehicle:

  • The vehicle’s detailed history, including its prior purpose, modifications, and repair histories
  • The owner’s motive for selling (if you buy directly from the owner)
  • A licensed truck mechanic’s expert opinion
  • The truck’s driving history and accident history

Buying a used or existing box truck business for sale, may be a simple and cost-effective process if you have the correct information.

10  Box Truck Business Ideas and Opportunities to Get Rich

Looking how to get rich in the trucking business in few years down the road? The first thing is to understand many ideas and choose at least one, listed below:

  • Junk Removal Services 

If you don’t mind transporting other people’s garbage, you can offer junk removal services.

If you are willing to offer a junk removal service, you can ask the targeted customers to make necessary preparations before tossing the dirty garbage bag in the box truck.

For instance, you can ask them to filter the garbage into biodegradable, recyclable, and non-biodegradable sections. 

Setting instructions will help you execute the job without getting injured.  You need to coordinate with the government’s garbage control to offer a junk removal service.

  • Moving Service 

Another way you can earn a good amount of money with box trucks is by offering moving services. Many companies do not have any in-house trucking department for moving items. They hire the moving service from time to time.

Along with commercial moving, you can also offer residential moving services. Providing this service will widen your service as a logistic.

A smiling truck driver behind the wheel

  • Towing 

If you have the required equipment, you can offer towing service. It is one of the best ways to make money with your box truck. You can find many clients who require towing services. 

When providing towing service, you need to be good at managing communications with the customer. You also need to analyze whether you want to offer tow hitch service or heavy towing.

  • Courier Service 

Offering courier service is a great way of earning extra cash. Here, you can drop off and pick up packages directly from the client’s door or office.

You can offer courier service under the same condition as a courier, but the charges may differ. As you offer courier service individually, you can charge a higher amount than courier companies and helps add more revenue to your bottom-line.  

  • Food Delivery

If you do not want to lift household weight or offer a commercial moving service, you can offer a food delivery service. 

For instance, you can work with pizza chains. You can offer them grocery delivery services and even get bulk orders for huge gatherings or events in certain situations.

  • Mobile Billboard 

Local and established advertisers are always searching for better mobiles that they can use to promote their outlets. Many businesses still consider traditional marketing as a game-changer as it works for them.

If your box truck does not have any branding, you can make money by letting the marketers and advertisers use your box truck’s cargo for their branding.

Coca Cola delivery truck on duty

  • Hauling Services

You can get the required equipment and offer hauling services to the clients in your area.  Many box truck drivers like offering this service as it helps them make extra cash while fulfilling the hauling needs of different customers. 

It’s an in-demand service for companies willing to dispose of outdated electronics, old office file cabinets, old investors, broken furniture, etc. 

  • Transportation Company 

You might be able to start your own transportation company if you can get your hands on a truck. A transportation company can turn out to be very profitable in the future. Finding clients can take some time, but you will come across good clients over time.

  • Mobile Wedding Service

Again is owning a box truck profitable and good to earn extra money? You can offer mobile wedding services for people looking to have extra hands on their big day. 

You can help transport food, decorations, chairs, and other important items. Establishing a good reputation as a mobile wedding service provider can help you get better clients.

Fleet of mini trucks

FAQ About Box Trucking Business!

What are the best box truck side hustle?

While your truck may primarily be leased to a company, there are other side gigs you can pull off to cover for downtimes and make more money. 

Here are a few: 

  • Wrap your truck and make it a sort of mobile billboard. 
  • Make deliveries for local businesses.  
  • Deliver packages for Amazon Flex. 
  • Offer local moving service. 
  • Rent out your truck for a fee.

If you own a box truck, you can drive it after the day’s job, hauling items for events, social gatherings, disposing items, or apartment moves as a side hustle. 

Smiling delivery man with packages

Starting a Non CDL Box Truck Business Checklist for Delivery Service

Starting a Non CDL delivery service may not be as challenging as you might have thought. We’ve broken down the procedure you need to follow into seven easy starting a box truck business checklist.

  • Decide on your niche,
  • Select the right business name,
  • Register your business,
  • Purchase your box truck,
  • Cover your business with an insurance plan,
  • Advertise your business.

How to make money with a 26ft box truck?

If you have a 26ft box truck, you can make extra money by providing delivery service using your truck. You can also become an independent contractor or offer towing services in your area. Similarly, if you have a 24ft box truck, you can offer residential or commercial moving services.

Starting a box truck business checklist – 5 most vital factors

Here’s a 7-step guide on how to start a box truck business, 2 to 6 being the five most vital factors. 

  1. Establish your box truck business; choose a business name and register it. 
  2. Draw up a Business Plan. 
  3. Open a business checking account and obtain credit cards. 
  4. Source for funding, unless it’s bootstrapped. 
  5. Get all the required permits, licenses, and insurance. 
  6. Rent an office space and hire drivers if you have to. 
  7. Get contracts for your business.

Conclusion

There is a lot of money to be made from the box truck business if you are willing to learn the trade and put in the work. 

The demand for box truck moving services today is enormous to think of, and the industry is open to almost everyone who is diligent enough.

The needs are past finding out from simply moving apartments or door room items to supplying goods and services. Whether you decide to work as a driver, independent contractor, or start up your box truck moving company, there is more than enough to go around.

Couple watch house movers work