August 25

Operational Plan: Owner-Operator Business Plan

An operational plan is a strategic document that outlines all the planning related to daily operations and processes required for running a successful business. It entails all the activities that different teams or departments like recruitment, marketing, business development, operations, and finance, need to perform to achieve company goals and objectives. If the company description is the “who” behind your business, the operational plan is the “how” and the “what.”

What Should I Include In My Operational Plan?

  • What are the critical roles in your company?
  • How will you handle routing and dispatch?
  • Will you be both operating a route and running the business?
  • How do you plan on getting your trucks? Will you buy or lease?
  • How will you pay for maintenance items and cover costs in case of a breakdown?
  • Does your insurance plan cover you and all your assets?
  • How will you use technology to keep your business running and profitable?
  • Will you use load boards or sign on with a carrier?
  • Is freight factoring part of your operation?
  • Who will you be hiring to do your taxes?
  • What kind of trucking small business software will you use?
  • Will you be using fuel cards when you refuel?

How Do I Write One?

  • Take time to reflect and take notes about where you see your business and how you plan on getting there.
  • Build relationships within the trucking industry – fuel card companies, factoring agencies, carriers, and other owner-operators.
  • Write a draft of your plan and have a peer review it. Research operational plan templates online.
  • Have a business consultant review your operational plan.

Because trucking has become a tech-focused industry, it’s important to show how you will take advantage of technological advancements to ensure you are compliant, operational, and profitable. Using technology will help set your trucking company apart from your competition. A well-written operational plan will be a road map for your trucking company’s short- and long-term success.

SOURCE: Truckstop