Timely Trucking is a new medium- and long-haul dry van trucking business based on Portland, Oregon and founded by veteran entrepreneur Jim Kerrigan. Timely Trucking will serve businesses in the Pacific Northwest (eventually expanding to include Washington, Oregon, Idaho, Montana, and Wyoming) with freight hauling and logistics management services. The business will develop a reputation for its on-time and accurate service as well as sophisticated Web and software functionality, allowing clients to align their business with Timely Trucking's services and scheduling automatically. The business will be managed by Jim Kerrigan, CEO, and a 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 be launched with three 18-wheeler trucks and will expand its operations to utilize eight 18-wheelers by the end of its third year, using auto loans to finance this expansion. Gross margins will be around 60%, allowing for significant profit by the end of the third year as the business scales up.
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. The business will be positioned for sale to a national freight-hauling service seeking to expand to, or add operations in, the Northwest.
Timely Trucking intends to serve businesses in the Northwest United States (Washington, Oregon, Idaho, Montana, and Wyoming) with truck-based distribution services.
Over the first three years of operations, Timely Trucking will seek to meet the following objectives:
- Establish bases in Seattle, Spokane, Portland, Cheyenne, Boise, and Billings
- Purchase 8 18-wheeler trucks with dry van trailers
- Hire 10 full-time truck drivers
- Achieve strong annual revenue based on 1.2 million miles of hauling in the third year
Timely Trucking will simplify distribution of goods for Northwestern businesses, becoming their partner in operating 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
The keys to success in the trucking business are:
- Robust communication systems between drivers, bases, and clients
- Setting delivery schedules that can be met (i.e. setting the right expectations)
- Hiring and retaining reliable, safe drivers
- Understanding what clients are trying to achieve, and helping them find the right distribution solution to create long-term relationships