Timely Trucking, a medium- and long haul dry van trucking business, is based in Portland Oregon. It was founded by Jim Kerrigan (a veteran entrepreneur). Timely Trucking is a freight hauling company that will be serving businesses in the Pacific Northwest. It plans to expand its services to include Washington, Idaho, Montana and Wyoming. Timely Trucking will have a strong reputation for providing prompt and accurate service. It also offers sophisticated Web and software functionality which allows clients to seamlessly align their business with Timely Trucking’. Jim Kerrigan, the CEO, will oversee the operation. He is also the Chief Operating Officer.
Timely Trucking can be launched for about $700,000, largely with the investment of Jim Kerrigan, and with some investment by investing partners. The business will begin with three 18-wheeler truck trucks. By the end of its third-year, it will expand to include eight 18wheeler trucks. Auto loans will finance this expansion. As the business grows, gross margins of around 60% will allow for substantial profit by the third-year.
Beyond three years, the business will seek to expand to additional bases of operation in the Northwest and to add trucks with refrigerated and temperature-controlled trailers. This business will be offered for sale to national freight-hauling services that are looking to expand their operations or increase their presence in the Northwest.
Timely Trucking aims to provide truck-based distribution services for businesses in the Northwest United States (Washington. Oregon. Idaho. Montana. Wyoming).
Timely Trucking will set the following objectives over the first three-years of operation:
- Establish bases in Seattle and Spokane as well Portland, Cheyenne, Boise and Billings
- 8 18-wheeler trucks purchased with dry van trailers
- Hire 10 full-time truck drivers
- Get strong revenue in the third year based on 1.2million miles of hauling
Timely Trucking will make distribution easier for Northwestern businesses and become their partner in ensuring that they operate efficiently and reliably. Timely Trucking will use management of logistics, on-time, accurate deliveries from destination to destination in the Northwest, and partnerships with distribution centers and warehousing businesses to achieve its goals.
Keys to Success
These are the keys of success in the trucking business:
- Strong communication systems between clients, bases, drivers and base personnel
- Setting delivery schedules that can be met (i.e. setting the right expectations)
- Reliable, safe drivers to hire and keep
- Understanding the goals of clients, and helping them choose the right distribution method to establish long-term relationships