Are you about writing a trucking business plan? If YES, here is a sample SWOT analysis for a trucking company to help you form a competitive strategy.
Trucking Company Business Plan – Economic Analysis
In most countries of the world, the economic strength relies heavily on an efficient, safe, secure and sustainable freight transportation system; it is a vital sector in commerce and industry. The trucking industry is responsible for flexible, reliable and economic movement of goods within and outside the United States. The trucking industry adds to the national economy of the united states and the industry is responsible for providing jobs for millions of people.
It is important to consider many factors before venturing into the trucking industry. The fact that the industry is profitable does not mean that you won’t lose your investment within a short period of time if you fail to conduct your homework and most importantly economic analysis. It is safer to start your trucking business as owner – operator if you know that you are not ready to go into partnership with big – time investors.
A Sample Trucking Company Business Plan SWOT Analysis
Going by our vision, our mission and the kind of business we want to set – up, we don’t have any other option than to follow due process. Following due process involves hiring business a consultant to help us conduct SWOT analysis and prepare a trucking company marketing plan for our business.
Terry Granville Truck Service Inc. hired the services of a seasoned business consultant with bias for start – ups in the U.S. to help us conduct a thorough SWOT analysis and to guide us in formulating other business strategies that will help us grow our business and favorable compete in the trucking industry.
As a company, we look forward to maximizing our strength and opportunities and also to work around our weaknesses and threats. Here is a summary from the result of the SWOT analysis that was conducted on behalf of Terry Granville Truck Services Inc.;
Our areas of strength in U.S include; size advantages, cost advantages, supply chain, customer loyalty and strong reputation amongst domestic industry players.
Our weakness could be lack of finance, high debt burden, cost structure, lack of scale compared to our peers who have already gained ground in the industry.
The opportunities that are available to us as a trucking company in the United States are online market, new services, new technology, and of course the opening of new markets
Some of the threats that we are likely going to face are mature markets, bad economy (economy downturn), stiff competition, volatile costs, and rising fuel prices.