Truck Driving School Business Plan and SWOT Analysis

Truck Driving School Business Plan, Marketing Plan, How To Guide, and Funding Directory

The Truck Driving School Business Plan and Business Development toolkit features 18 different documents that you can use for capital raising or general business planning purposes. Our product line also features comprehensive information regarding to how to start a Truck Driving School business. All business planning packages come with easy-to-use instructions so that you can reduce the time needed to create a professional business plan and presentation.

Your Business Planning Package will be immediately emailed to you after you make your purchase.

Product Specifications (please see images below):

  • Bank/Investor Ready!
  • Complete Industry Research
  • 3 Year Excel Financial Model
  • Business Plan (26 to 30 pages)
  • Loan Amortization and ROI Tools
  • Three SWOT Analysis Templates
  • Easy to Use Instructions
  • All Documents Delivered in Word, Excel, and PDF Format
  • Meets SBA Requirements

The demand for truck drivers has increased substantially over the past two years as the amount of fees that are generated from freight transportation have increased substantially. In fact, recent reports suggest that there are nearly 70,000 open positions for truck drivers available within the United States but these positions are going unfilled despite the fact that many companies are beginning to offer starting salaries ranging anywhere from $80,000 to $100,000 per year for the services. One of the common thoughts as it relates to why there was such demand for truck drivers within the United States is that many people are anticipating that these positions will be taken by automation and as such individuals are no longer looking to become truck drivers as a long term career. However, it is expected that the complete automation of freight transportation will not occur for at least 20 years.

As such, the very strong demand for licensed commercial drivers is significant and many entrepreneurs have sought to launch truck driving schools in order to meet this demand. When starting a truck driving school the startup costs typically are anywhere from $250,000 all the way up to about $1 million depending on whether or not the tractor-trailers are going to be acquired directly in order to train students how to properly drive them. This is typically the largest start of expense as it relates to starting a new truck driving school. Additionally, when the other complicated factors when starting this type of business is at a significant amount of licensure is required from both the federal government as well as the state in which the company will be doing business. The licensure allows truck driving schools to properly issue certificates of completion for an approved truck driving class. In turn, this certificate allows an individual to apply for their CDL license in order to operate as a long-haul or short haul truck driver. The gross margins generated from the services typically ranges anywhere from 85% to 95% depending on whether or not the individuals will be allowed to pay as they go or will be required to pay all their tuition up front. Most truck driving schools charge fees equal to $2,500 to $8,000 for training services.

Banks, lenders, financial institutions, and private investors to place capital with truck driving schools given their economically secure nature and the large amount of tangible assets that are acquired with the startup funds. An entrepreneur that is looking to start a new truck on the school is a very good candidate for a business loan. When developing the business plan for truck driving school a three-year profit and loss statement should be included as well as a cash flow analysis, balance sheet, breakeven analysis, and business ratios page. For industry research, there are approximately 1,500 schools within the United States that provide certification for a CDL license. Each year, these businesses aggregate we generate about $4 billion revenue and provide jobs for about 50,000 people. In addition to discussing the financial results and industry research within the business plan – a full demographic analysis of individuals that are going to be potential students of the business should be included as well. This includes taking a look at median household income, median house value, population size, and population density. It should also be noted that an examination of the educational backgrounds of the people within the target market should be included as well given that many people are graduating from high school who may not be going to college may entertain a career as a commercial truck driver.

A truck driving school SWOT analysis should be produced as well. Truck driving schools – which are in very high demand at the moment – almost always are able to remain profitable and cash flow positive as people graduated from high school as well as college are looking for high-paying careers. As such, the demand for certification as a commercial truck driver does not wane in times of economic recession. In fact, the demand during economic recession for a new skill among workers typically makes these businesses immune from negative changes in the economy. The gross margins generated from the services are high, the barriers to entry are considered to be moderately high, and truck schools can be very lucrative if operated properly.

As it relates to weaknesses, there is expected to be a finite time of which truck driving schools will remain as economically viable businesses. This is primarily due to the fact that automation will eventually allow trucks to operate autonomously without a human driver. However, this may not be the case in laws may require a truck driver is on board even if it is a computer driving the truck. As such, while this is a risk faced by these businesses and it is considered a weakness – this weakness is not expected to take hold for many years.

For opportunities, truck driving schools can rapidly expand if they are able to expand their initial operations by increasing the capacity for class-size. Additionally, these businesses can establish new locations in other metropolitan area markets. Again, almost all financial institutions are willing to provide ongoing capital support for truck driving schools given their economic viability, large tangible asset base, and very strong demand in the market.

For threats, again automation is good to be the biggest threat faced by these businesses. While competitive threats do exist – the demand among companies for quality truck drivers is substantial and competitive threats should be considered minimal at this time.

A truck driving school marketing plan should be developed as well in conjunction with the business plan as well as the SWOT analysis. Foremost, most truck driving schools and related businesses do engage in a number of referral relationships with high school guidance counselors, college career counselors, and related employment agencies that have individuals are looking for jobs. This is going to be the foremost way in which most truck driving schools are able to create a very strong branding themselves within the market. Additionally, truck driving schools will frequently maintain profiles on social media platforms such as FaceBook, Google+, and Twitter in order to make individuals aware of the substantial opportunities that exist by being a truck driver. Additionally, there are number of community organizations that focus on employment that can act as referrals to the company’s social media pages. Although this is primarily not the best way to market a new truck driving school – it does assist with increasing the ongoing visibility of the business.

Beyond direct relationships with guidance counselors, many truck driving schools will take out booths at career expos and career fairs. This is one of the other ways in which a very strong return on investment can be generated as it relates to developing a substantial visibility for the truck driving school. The proprietary website should also be developed in conjunction with the truck driving schools other marketing campaigns so the individuals can quickly find the business and learn about the programs offered. On the proprietary website, all applicable licensure and certification should be shown so that an individual becomes aware of the fact that they will be receiving an appropriate certificate upon completion of the course. Many of these websites also have information regarding tuition assistance programs and tuition loan programs that allow commercial truck drivers to affordably acquire their necessary educations and certificates.

Truck driving schools will continue to be one of the mainstay vocational institutions within the United States for the next 20 years. Although automation is going to drastically change the way that freight is shift within the United States, at this time the demand for truck drivers that can render the services is substantial and it will continue to be ongoing for the foreseeable future. The regulations and laws that will be applicable to new technologies that are integrated into trucking and freight transportation are going to be subject to a substantial amount debate, and as such – these businesses will remain economically viable and highly lucrative for the foreseeable future.