How Can I Make Money Running a Trucking Company?
Updated: Sep 14, 2020
Experience, knowledge, reputation and making smart decisions all play a role in owning a successful trucking company and increasing your truck driver income. Just because you've been in the industry a while doesn't mean you'll be successful. Instead, making the right decisions at the right time can. We have compiled some tips to answer your question: how can I make money running a trucking company?
Do you have your finances in order?
It's common knowledge that running a trucking company is expensive, so it's extremely important that you have your finances in order. The first step to making money for your trucking company is making sure your financial situation is under control. The expenses of running your trucking company do not stop while you wait to get paid. So, working with a freight factoring company is how you can keep your cash flow consistent and keep making money.
Do you know where to find your loads?
Finding the most profitable loads can be difficult, especially in the industry right now. The key is to not be too picky and run what you can. Turning down loads because they aren't paying as much as you'd hope can hurt you in the long run, as you may not find anything better. Working directly with dispatchers or building relationships with direct shippers is a great way to make money for your trucking company. You don't need to waste time on load boards and your loads can stay consistent.
Are you spending your time efficiently running your trucking company?
Running a trucking company is time consuming. You need to spend your time efficiently in order to make money. A lot of paperwork is involved in the daily operations and you need to have effective processes in order to handle it in a timely manner. When you work with a freight factoring company, they'll offer invoice and paperwork processing, as you can spend time making money for your trucking company (you get this benefit free with Porter).
You're not going to make money overnight. Slow, steady, and smart decisions win this race.
Let Porter help you!
Porter Billing has been successfully growing trucking companies through freight factoring, freight finding, and more for over 25 years. For more information on how we can help you grow your trucking company, give us a call at (205) 397-0934 or get a free quote now.