How to Increase Revenue with These 3 Tips
No American will argue with the fact that the trucking industry is the backbone of the U.S. economy. With tons of weight moving across the country annually, the market rises and falls with the health of this business. While the outlook for this industry is strong, there are still concerns with how autonomous technology, alternative fuels, and other factors will impact the future of this industry. While it is difficult to predict what changes may be around the corner, there are a few things we can control that impacts us:
Bid-Well by Understanding Your Expenses
It isn’t an easy task - your bid must be low enough to be competitive, yet high enough to be profitable. The only way to submit such a bid is to know your expenses including maintenance, truck repairs, truck and trailer payments, fuel, and the cost of your work. Write out your expenses and make a bid based in reality, or you will pay later.
Next, don’t forget include what may seem like smaller or less important factors. For example, pulling a load through a congested metropolitan area (e.g., Miami, New York) will cost more and is a more difficult route to traverse.
Lastly, remember that once you deliver the load, you need to find a load nearby or get back home. The cost of deadhead miles can easily kill your profits.
Run Your Office Efficiently
Running a successful trucking company requires a well-thought-out back office. The type of back office you need depends on the size of your business. Obviously, a small fleet has more needs than a single owner-operator. It is important to plan ahead and manage your office efficiently, or you will pay the price in your bottom line.
Determine how you want the office to run. Go through your daily processes to ensure they lend themselves to optimal productivity. The trucking business runs on efficiency and those with the most efficient process, among other things, grow. Determine if working with a freight dispatch service is the right move for you and your company.
If you plan to own a small (or large) fleet, you need to start developing the “business owner” mentality.
Double Your Productivity
It’s pretty common practice to use one driver per truck. A typical driver will complete his work shift, park the truck, and come back the next day to find the truck at the same location. Having two full-time employees per truck can add up very quickly.
But, what if you were to use one full-time driver and an extra driver from your TruckerWall workforce pool?
The truck would work for 20-24 hours a day, with the insurance and truck payment costs divided by two. Then, multiply the equipment earnings by two. TruckerWall is the first platform that offers you a way to manage a workforce pool for your company that keeps your equipment in use for as long as possible.
With this option, you can have a “team” run your loads without actually having two drivers, lowering costs, all while multiplying the earnings.
Register now for free and post your job. Get the drivers that you need with one click away.