Anyone that has found themselves working as a business leader within the world of trucking and transport will know that there is money to be made. However, in order to capitalize on this fact, it is absolutely imperative you know how to ride the crest of success and grow your operations. That is true of any business, but none more so than those within the logistics industry.
Unfortunately, growing your business tends to mean hard work, commitment, dedication, and funds. But above all this, it requires you to make the right decisions when it comes to choosing where to focus your time, money and effort. To help you with this side of things, we have come up with a list of ways you can take your small trucking company and take it to the big time.
Oh, yeah, achieving your growth goals is totally doable, it just means following a few steps.
The Right Equipment Is Crucial.
When it comes to growing your business, the thing you need to first and foremost is the right equipment to meet the added demands. Of course, this produces one major hurdle that needs leaping over – with or without grace – and that is funding. Fortunately, there are numerous places where you can find funding as an operator. What you do with that funding is up to you, whether you buy or lease, so long as you increase your fleet. The more trucks you have your disposal the more work you can take on and the more profit you can turnover. Of course, the increase in trucks could also mean you need to improve other aspects of your business, such as your storage facilities, your security, your depot space, loading docks and cleaning equipment, not to mention the added staff. So make sure this is all accounted for in your growth plans.
Growth Comes From Diversification.
Another important factor to consider when it comes to scaling your business is the ability to diversify. By diversifying your operations you have the chance to grow your customer base by attracting a wider range of needs. It could be that you do this through your fleet expansion to allow you a more specialized offering, in which case you should check out Truck Dealers Australia and consider investing in refrigerated trucks that could help you break into the catering market. It could even be that you invest in tippers and recovery trucks too, allowing you to become a much more overarching business, which will see you cement yourself as the go-to company for all trucking needs. The more people you are able to please, the more business you are able to win. It is that simple.
Gain A Steady Stream Of Profitable Loads.
This is arguably the hardest part of running a trucking business because, while it is all well having the vehicles to grow, finding the business is not so easy. That is why you should look at using load boards and maintain a constant eye on which load boards are offering the best rates, clients, and consistencies. We know that this isn’t a viable route to go down in the long run because of the competition, meaning you tend to get rock bottom returns. However, if you use a load board as a starting point, you can then lever your contacts and start building up your relationship with different direct shippers. This is the key. Why? Because those companies that use load boards tend to make around $10,500 a month per truck, while those that have access to direct shippers make around $20,000 a month per truck. That is a substantial difference and gives you the chance to keep growing.