How to Grow My Trucking Company
Updated: Mar 16, 2020
Hard work, dedication, and discipline are what goes into growing a successful trucking company. The correct actions need to be made in each step of the process so that your trucking company grows in this competitive industry. Growing a trucking company doesn't come down to who's been driving the longest, but instead about who makes the best business decisions at the right time - a lot of truck drivers fail to realize this.
The following will help small fleet owners and owner-operators grow their trucking companies. Every decision is critical to effectively grow your trucking company.
How can I get my trucking company to grow?
Get your finances in order
Running a trucking company is expensive. We all know there are multiple fees and bills that need to be paid on time to stay up and running. And most importantly, we all know that those expenses don't stop while waiting 30, 60 or 90 days to get paid on a load. Getting your trucking company's finances in order and carefully managing your cash flow is a huge step in growing your company.
This issue is easily overcome by freight factoring. Instead of waiting days to get paid on a load, you get paid within 24 hours. You don't need to worry about running out of cash as freight factoring provides your trucking company with consistent cash flow to run your business. With this consistency you're able to pay for fuel, maintenance and repairs, and other operating expenses. The best freight factoring companies provide you with a free fuel card that offers advances and discounts, so you'll never need to worry about having enough fuel while you or your drivers are on the road again.
Handle daily operations
The day-to-day running of your trucking company can be overwhelming and tedious. Running your business involves a lot of paperwork and coordination to move loads. It's critical to have effective processes in order to handle the daily operations of your trucking business for you to grow. When you partner with a freight factoring company like Porter, you're offered free invoice and paperwork processing, so that you can focus on making money, hauling loads, and growing your trucking company.
Finding profitable loads and building relationships with direct shippers
In order to grow your trucking company, you need to make money. In the trucking industry you make money by running loads. Finding the most profitable loads is difficult, but its a big part of the process to grow your business. There are a few different options to find freight: load board, dispatchers, or relationships with direct shippers.
Load boards hold some advantages to finding freight, but they are extremely competitive and are usually not the best long-term solution. Working directly with dispatchers or building relationships with direct shippers are better strategies to finding profitable loads for your trucking company. When you factor with Porter, we set your company up with a dispatch consultant to find you the most profitable loads and lanes to grow your business.
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.