How to Grow a Trucking Business as an Owner-Operator
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<p>Did you know that more than 70% of all goods in the United States are transported by truck? That's a lot of products that need to get from Point A to Point B, and it makes commercial trucking one of the most important industries in the country. That <a href="https://cdlworker.com/blog/CDL-training" target="_blank">CDL (commercial driver’s license)</a> has a lot of value these days. If you're a driver looking to start your own trucking business or an owner-operator with a truck already on the road, there are a few things you should know as a business owner. In this post, we'll walk you through some tips for growing your trucking business. Let's get started! </p> <h3><strong>Changing Industry Regulations</strong> </h3> <p>As the trucking industry continues to evolve, it's important for trucking businesses to anticipate changes in regulations and have a business plan that is friendly to adapt to those changes. One way to do this is to monitor developments at the state and federal level. State legislatures and Congress are constantly debating issues that could impact the trucking industry, such as hours of service, weight limits, and environmental restrictions. By tracking these debates, trucking businesses can be among the first to adapt to new regulations. Another way to anticipate regulatory change is to stay up-to-date on the latest industry news. Industry publications and websites are a great source of information on upcoming changes in the trucking industry. By monitoring these sources, small businesses can stay ahead of the curve and make the necessary changes to stay compliant with evolving regulations.</p> <h3><strong>New Transportation Technology</strong> </h3> <p>New transportation technology is constantly emerging, and it can be hard to keep up with the latest trends. However, those who don't stay up-to-date with the latest technology will quickly fall behind their competitors. There are many new transportation technologies that can help trucking businesses grow. One example is GPS tracking. GPS tracking can help businesses to keep track of your trucks, know where they are at all times, and ensure that they are on schedule. In line with this would be Trucking Management Systems (TMS). These systems will prove to be game changers for your business at any level. This information can be invaluable for reducing delays and boosting efficiency. Another example is electronic logging devices. These devices went from optional to mandatory and became a major hurdle for some. By staying on top of the new tech and how they operate will keep you in good shape for industry growth. By investing in and staying up to date with new transportation technology, trucking business owners like you can stay ahead of the curve and continue to grow. </p> <h3><strong>Manage Your Business Finances Well</strong> </h3> <p>One of the biggest keys to running a successful trucking company is to manage your finances well. Many trucking businesses fail within the first year due to poor financial management. In order to grow your trucking business, it is essential that you keep a close eye on your finances and make wise decisions about where to allocate your resources. A good way to manage this is to get a good reputable line of credit for your startup to manage your operating costs and raise your business credit score. This will make you look better to lenders. </p> <p>One of the most important aspects of financial management is creating and sticking to a budget. Without a budget, it is easy to overspend on unnecessary expenses and quickly become buried in debt or short on fuel costs. Make sure to map out all of your income and expenses so that you can track your progress and make adjustments as needed.</p> <p>Another crucial element of financial management is making sure that your trucking company has a strong and regular cash flow to keep operations running smoothly. An invoice factoring company, also known as freight factoring, can be a major tool in this area to help get you paid on freight bills now instead of waiting out the payment terms. Many, such as <a href="https://www.tafs.com/">TAFS</a>, also offer a fuel card option to save you additional money on fuel prices at the pump.</p> <h3><strong>Provide Excellent Service</strong> </h3> <p>While there are many important factors to consider as an independent contractor, one of the most important is providing excellent service. After all, without happy customers, it would be difficult to stay in business for very long. There are a few key things that you can do to make sure that your customers are always satisfied. First, ensure that your truck drivers are polite and professional at all times. Secondly, make sure that your trucks are always clean and well-maintained. Finally, go the extra mile to accommodate special requests whenever possible. By providing exceptional service, you will encourage customers to keep coming back, which is essential for long-term success. </p> <h3><strong>Develop and Foster Strong Customer Relationships</strong> </h3> <p>Trust can be difficult and time-consuming to develop. It is vital in this industry to recognize this and strive to not only develop meaningful business relationships with your customers but to foster those relationships so that they are beneficial to all </p> <h3><strong>TWIC Cards</strong> </h3> <p>You may be limiting yourself from loads if you do not obtain a Transportation Worker Identification Credential (TWIC). This card is issued by the Transportation Security Administration (TSA) and allows truckers to enter secure areas, such as ports and maritime facilities. In order to obtain a TWIC card, truckers must first pass a background check and fingerprinting. Once these requirements have been met, truckers can submit an application online or in person at a TWIC enrollment center. The process usually takes about two weeks, and the TWIC card is valid for five years. Having a TWIC card is a big boost for any trucker who wants to grow their business because it expands your freight possibilities, so be sure to apply for one as soon as possible. </p>
We all know that downtime is an enemy. It pays to stay ahead of the game. That’s why implementing a regular truck maintenance schedule is crucial to the success of your business.
1.
FIX MINOR ISSUES BEFORE THEY BECOME MAJOR PROBLEMS
Over time, minor issues can develop in your vehicles. Without a thorough inspection these minor issues can go unseen. These small problems can develop into more significant problems down the road. What could be a fast and inexpensive fix, turns into a downed truck, with extensive and expensive repairs.
Placing your vehicles on a regular maintenance schedule ensures peace of mind and saves you money on unnecessary and unplanned repairs in the future. Regularly maintained vehicles will discover issues like worn brake pads and leaking fuel lines before they develop into more serious issues.
Call ARS Truck & Fleet Service today to find out about our Preventative Maintenance Checks and Services. Preventing potential problems before they occur can help save you money by avoiding costly repairs. Our highly experienced team can create a routine vehicle maintenance schedule to keep your fleet up and running strong by reducing breakdowns, accidents, and liability issues; all while staying ahead of your vehicles’ current conditions.
2. MORE EFFICIENT VEHICLES
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Regularly serviced trucks run smoother, faster, and more efficiently. Which means you get better mileage out of them. Something as small as a loss of pressure in your tires can cost you 2-3% in fuel costs per mile. For an entire fleet of trucks, that adds up quickly. Regular servicing keeps mileage in check and fuels costs in line.
3. STAY ROADWORTHY LONGER
Your trucks are a huge investment — you want to get as many years out of them as you can. Regularly serviced trucks tend to have a longer lifespan because they’re well looked after, and parts are repaired and/or replaced as soon as they show signs of significant wear and tear.
4. REDUCE DOWNTIME
Regularly maintained trucks also assist with reducing downtime. Small problems don’t turn into big ones. Bigger issues can be spotted and repaired sooner. Fewer breakdowns and less time in the shop. The more time your trucks spend on the road, the better. Plan ahead with scheduling maintenance.
5.
SAFETY FIRST
Managing a fleet isn’t all about cost savings. Keeping your drivers safe on the road is a huge concern too. Well-maintained trucks are less likely to break down, reducing the risk of accidents for your drivers. Any good employer will put their employee’s safety first above all else. There’s even a cost benefit for keeping your drivers safe. If your vehicles aren’t properly serviced and an accident occurs because of it, you could be held liable.
Managing a fleet means managing a budget. Cost savings are something you naturally seek out. At ARS Truck & Fleet Service we pick up around 90% of the vehicles we service. We even offer mobile servicing – where we bring our shop and mechanics to you. Your drivers don’t need to waste valuable time bringing their vehicles to us. With mobile servicing, we can complete almost any repair at your preferred location.
Implementing a proper maintenance schedule will you save money in the long run. A well-maintained fleet will boost productivity and profits for your company. ARS Truck & Fleet Service can service your trucks year-round to ensure you stay on the road with no problems. Contact us today to learn more about our Preventative Maintenance Checks and Services.
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