Every new company needs capital, and starting a trucking company is no different. Whether you need to buy a truck or hire employees, funding is a must-have for starting a new trucking company. However, few people have thousands of dollars in savings to fund a business. Fortunately, you don’t need to scrimp and save to […]
Truck drivers spend an average of $2,400 a week just on gas, making it one of the biggest expenses for owner-operators. That might not be an issue if you run an established trucking company, but if you’re just getting started, it can be challenging to get enough funding to cover fuel costs. To complicate matters, […]
If you’re a new carrier or someone interested in starting your own trucking business, know that you’re going to need to invest time in setting up your accounting system before taking on your first customer. Managing your money well is the key to profitability—even if you don’t have any profits yet. Income tracking, expense management, […]
One of the most important parts of the freight billing process is the freight audit. During the freight audit, the original freight bill and invoice are compared with the terms and services a carrier and shipper agreed to, as well as the state of the delivered goods or products. Freight bill auditing is a key […]
Freight billing is an overarching term that is used to describe the way money moves between shippers and carriers as part of the freight shipping process. It can be a complex and time-consuming process, and the logistics can be even more complicated when brokers are also involved in negotiating rates with carriers. Understanding how the […]
As a carrier, one of the most important considerations required for running a successful trucking business is knowing how to keep your trucks in top condition—and the best way to do this is by following a semi-truck maintenance checklist. A truck preventative maintenance program greatly reduces the risk of breakdowns and accidents on the road. […]
A semi-truck is arguably the most important asset for any trucking company. Some carriers choose to purchase their semi-trucks, but that isn’t the right option for all business owners. So whether the high costs of starting a trucking business is forcing you to keep upfront costs to a minimum or you just want to make […]
A semi-truck is the most crucial piece of equipment for trucking business owners, but it’s also a huge investment! There are a lot of factors to consider when buying your first semi, from the particular type of truck you need, to how much you can afford to spend as a down payment, to calculating long-term […]
All trucking companies, from brand-new LLCs to seasoned businesses, must make a habit of abiding by trucking compliance regulations to prepare for DOT audits and routine inspections. To do so, carriers should prepare a DOT compliance checklist to ensure that your company, its vehicles, and its drivers are operating in accordance with trucking company regulations. […]
Becoming an owner-operator can pay off in the long run, given the position’s earning potential, but hefty startup costs add a barrier of entry to the industry. For many, owner-operator truck financing is necessary to secure the capital to get their business up and running. While securing owner-operator financing may seem intimidating at first, the […]
Studies show that trucking owner-operators spend as much as $70,000 a year on fuel, making it one of the biggest expenses for small fleets. Using an eco-friendly truck and driving safely can cut fuel costs, but this is still a huge burden for small businesses. Therefore, many trucking companies turn to fuel cards to better […]
Fuel is one of the costliest expenses for carriers and has only gotten more expensive in recent years. In fact, the average price for fuel increased from 30 cents per mile in 2020 to 64 cents per mile in 2022. With costs so high, fleet managers and trucking business owners need to get creative about […]
Trucking companies are currently spending a historically high amount of money per mile, with one of the costliest expenses being—unsurprisingly—fuel. From 2020 to 2022, the average fuel cost per mile nationwide more than doubled, skyrocketing from $0.30 to $0.64 per mile. While you can’t avoid fuel purchases, you can certainly streamline them with fuel cards. […]
If you’re running your own trucking business, you need to know the ins and outs of DOT inspections. These inspections help keep the roads safe by ensuring that commercial vehicles are in good operating condition. As a result, roadside inspections can occur at any time. There are 6 DOT inspection levels, with varying DOT inspection […]
Trucking is a very competitive market—but those who take the right approach can come out ahead. In order to do so, you must find the highest-paying truck loads to ensure your business succeeds. Truckers and owner-operators must navigate various factors to secure these lucrative opportunities. Understanding market demand, leveraging load boards, building strong relationships with […]
As an owner-operator, there are many trucking business expenses to consider before you go through with launching your company. Purchasing fuel, buying a truck, and maintenance costs might come to mind first, but one expense that can’t be overlooked is trucking business insurance, including owner-operator health insurance. It might be irritating that you have to […]
California Assembly Bill 5 (commonly known as the California AB5 law) has had an outsized impact on owner-operators in California. Though not necessarily intended as a California truck law, the bill heavily influences when truck drivers are classified as employees within the Golden State. California owner-operators have even taken to protesting the loss of their […]
Deciding to start a trucking company can feel like a leap of faith. As an owner-operator, you’re embracing the flexibility and hard work of a life on the road. While purchasing or leasing a truck is an important first step, you also need clients to stay in business. Business might be slow initially, but demand […]
Looking for a career change? Or perhaps, simply considering moving on from being a company driver and starting your own trucking business? Becoming an owner-operator could be a lucrative option—in fact, owner-operators make an average yearly salary of $324,043 before expenses. While working as a truck driver can be an excellent career, becoming an owner-operator […]
Of the many financial concerns associated with running a trucking business, few are more pertinent to your day-to-day operations than obtaining a fuel card. Fuel cards are not only convenient for filling your rig, but they can also help you unlock a variety of discounts and give you greater control and oversight over fuel-related expenses. […]
One of the most important parts of becoming an owner-operator and starting your own trucking company is obtaining a DOT number for your business. But what is a DOT number on a truck, and what is required to get a DOT number in the first place? By understanding how to get a DOT number and […]
Fuel is unsurprisingly, one of the costliest expenses for trucking businesses. That’s why the most successful owner-operators find ways to save dollars on fuel, one of which is by investing in a fleet fuel card. A fuel card, which is used similar to a credit card, is used for fuel discounts and other vehicle-related services, […]
Trucking is a vital part of the American economy, making a national truck driver shortage a serious cause for concern. While 3.05 million truck drivers were employed in the U.S. in 2023, this is actually well below the number of drivers needed to fill all open positions within trucking companies. Quite simply, demand for truck […]
Both carriers and owner-operators want the best payment possible for hauling loads for their customers. While some drivers and carriers prefer the consistency of contract rates, spot market freight rates are the best way to increase your earning potential in the short term. Spot rates in trucking are tricky because they fluctuate based on supply […]
Whether you’re a carrier with a large fleet of drivers or a solo owner-operator, running a trucking business is an expensive undertaking. In order to succeed, you need to familiarize yourself with every potential cost-saving measure. Since fuel is one of the most significant owner-operator expenses, one of the best cost-saving measures you can take […]
When starting a trucking company, one of the most important things to consider is how you will register your business. For many, starting an LLC trucking company is the way to go—but first, you should understand how to get an LLC for your trucking business and what it means for your operations. In this guide, […]
In shipping and logistics, transparency and organization should always be at the forefront. And when it comes to ensuring transactions are well-organized and properly documented, applying a number to each bill of lading makes life easier for all parties involved. Bill of lading numbers assist with shipment tracking, dispute resolution, and delivery integrity. Its role […]
Every now and then, freight brokerage companies or carriers will utilize the services of a secondary freight company to deliver the shipment that they were hired to manage. Sometimes, though, this happens illegally. When a secondary broker or carrier gets involved in the process, it’s considered either co-brokering or double brokering. But what are the […]
A common error made in logistics is confusing the bill of lading with an invoice. These documents serve distinct purposes in the transportation and sale of goods. Here, we outline the details of these essential documents, so you can ensure accurate business transactions. What Is a Bill of Lading? A bill of lading (BOL) is […]
Freight factoring is a common form of financing for trucking business owners who need quick funding. It’s a common practice to provide cash flow so truckers can keep hauling goods. If you’re a carrier interested in pursuing freight factoring, you need to first understand the full scope of factoring terms to prevent confusion or disagreements […]
Imagine a manufacturing company preparing to ship a significant order of products to a retailer across the country. To ensure the carrier legally acknowledges receipt and agrees to transport the goods to the designated destination, a bill of lading (BOL) is created. This document details the shipment’s specifics—such as product quantity, weight, value, and special […]
The bill of lading (BOL) is a key legal document in shipping. It acts as a contract, receipt, and sometimes title for transported goods and details the cargo’s type, quantity, and destination. However, a typical bill of lading can be a pretty complex document with a plethora of information on a single page, so it’s […]
The trucking industry is heavily regulated. Therefore, a bulk of what makes a freight brokerage company successful is knowing rules and regulations back to front and avoiding fraudulent, illegal, or simply irresponsible practices. Yet, sometimes, brokers don’t play by the rules. This can be for many reasons. Perhaps they’ve stretched themselves thin with a hectic […]
Imagine a situation in which urgent repairs are needed to a fleet of trucks, sidelining them when you’re on a strict deadline for upcoming deliveries. If capital isn’t readily available to fix the problem, you might have reason to believe it’s cause for panic. Obtaining a trucking business loan can mitigate problems like this and […]
There are numerous important financial decisions to make when starting a trucking business. From choosing a specific industry or type of truck you’re going to drive to which fleet fuel card you’re going to obtain, there are several factors that play a role in helping you start a profitable business. But few decisions will be […]
Artificial intelligence is becoming an increasingly popular global topic. From February 2022 to February 2024, Google searches for “AI” rose by a staggering 1000%, highlighting a common interest in just how impactful AI can become and what the implications might be. The trucking industry is not exempt from those impacts. Self-driving cars have arrived and […]
As a business owner in the logistics and transportation industry, you understand that time is money. Missed connections and empty miles can eat into your profits and grow into significant problems. The competitive nature of the business puts additional pressure on ensuring your trucks are always loaded and on the move. This is where having […]
For many business owners – and owner-operators in particular – one of the biggest challenges is figuring out how to finance your business and improve cash flow. Quite often, trucking companies struggle to have clients pay invoices in a timely manner, which can lead to major financial difficulties in keeping up with their ongoing expenses. […]
For individuals breaking into the trucking industry in hopes of becoming successful owner-operators, it is essential to familiarize yourself with DOT numbers and MC numbers. These are important credentials to obtain, necessary for the majority of trucking business owners. However, if you’re still in the early stages of drafting your business plan, you might be […]
You’ve just purchased your first semi-truck to start an owner-operator trucking business. You plan to operate under your own authority and transport goods across state lines. Beyond all of the expenses and details that come with starting a trucking business, you must consider one significant factor: insurance. But what type of insurance do you need? […]
Entering the trucking industry as an owner-operator comes with one consequential decision in particular: whether to lease-on with a motor carrier or become an owner-operator and operate under your own authority. This choice defines not just the legal and operational framework of your business – but its potential for growth, independence, and profitability. Understanding the […]
One of the most significant expenses every owner-operator needs to account for is insurance. Following FMCSA insurance requirements is vital for remaining compliant with industry regulations, as well as protecting your trucking business’s finances. With that in mind, here’s what you need to know about owner-operator trucking insurance so you can get the right level […]
Freight brokers play a crucial role in the logistics and transportation industry, acting as the middlemen that connect shippers with carriers. But how do you ensure that the freight broker you’re working with is financially reliable and trustworthy? The answer lies in checking a freight broker’s credit score, a vital step that could mean the […]
It comes as no surprise that fuel is one of the most relevant and routine expenses in the trucking industry. Fuel prices directly impact the profitability and operational efficiency of trucking businesses, so it’s crucial to do your research on fuel-related topics to find answers to important questions such as, “Do truck drivers pay for […]
When it comes to running your own trucking company, few things are more important than properly managing your finances. This is especially true when it comes to taxes–or more specifically, tax deductions. Filing taxes can be a major headache for owner-operators, but understanding which tax deductions are available for truck drivers makes the process more […]
When running your own trucking business, you’ll want to know how to calculate cost per mile (CPM). Understanding how much you spend to drive each mile provides crucial insights into how much you need to earn to make a profit. You can then identify ways to cut expenses, set rates appropriately, and ultimately improve your […]
The trucking industry plays a huge role in the nationwide economy, and the importance of goods being transported across borders efficiently will ensure the industry remains in demand for the foreseeable future. Because of this, becoming an owner-operator can be a lucrative career choice. However, the financial challenges of starting a trucking business, especially if […]
Starting your own trucking company is an exciting proposition. After all, successful owner-operators can make good money while enjoying the freedom that comes from deciding which loads to take and when. However, starting a trucking company requires much more than a driver qualification file. One of the most important questions you’ll need to consider is, […]
As a new or soon-to-be owner-operator, having a comprehensive knowledge of the expenses that lie ahead of you will prevent unexpected costs that could potentially threaten your cash flow. Especially if you’re just starting your trucking business, understanding these costs is key to managing your finances and ensuring the profitability of your business. From insurance […]
If you’re a company truck driver or have a solid understanding of how the trucking business works, you might consider starting your own trucking business. It can be a lucrative career–owner-operators earn more than $300,000 per year–and the best part is you only need one truck to start a transportation business. However, it requires full-on […]
To run a successful trucking company, you must charge appropriate rates. While owner-operators can pull in an average yearly salary of $323,696, much of this goes to covering their expenses — fuel, in particular. In fact, rising fuel prices consistently rank as the top concern for the trucking industry as a whole. Because of this, […]
A fuel surcharge is the price a trucking company charges the shipper to make up for increases in fuel costs due to fluctuating diesel prices. Oftentimes, a freight company will calculate its cost to haul a load according to a baseline fuel price, but at the time the load is ready to ship, the cost […]
The trucking industry has dealt with its fair share of ups and downs in 2023, but one aspect that’s been particularly challenging for owner-operators is low freight rates due to less demand. Because of this, knowing how to negotiate better freight rates has never been more important. Running a trucking business is expensive, so it’s […]
As with any profession, it’s important that if you’re thinking of becoming a trucker, you do so with the belief you’ll enjoy the day-to-day behind the wheel. However, we work to pay the bills, so earning a decent income is just as important, and it’s helpful to know your earning potential before entering the industry. […]
When it comes to a career as a truck driver, there are generally two main options: working as an owner-operator or a company driver. Naturally, this leads to comparisons between owner-operators and company drivers. And of course, because owner-operators have to deal with the complexities of running their own business, there’s the big question: is […]
There’s been debate over the last couple of years about whether there is an impending recession (or if we’re already in one), which can lead to a unstable job market. Yet, while the overall landscape of the job market has seen better days, that’s not entirely the case for the truck driving industry. In fact, […]
If you’re planning on entering the trucking industry, it’s crucial to first understand the difference between an owner-operator vs. a company driver. Which one pays more? Which one requires more work? And ultimately, is it better to be an owner-operator or company driver? There’s no one size fits all answer, but by taking some time […]
The thought of becoming an owner-operator can be both exciting and daunting. On one hand, owning your own trucking company can provide financial returns that might not be obtainable by being a company driver, while on the other hand, there are added responsibilities that make for a more complex and time-consuming day-to-day job. Fortunately, you […]
Finding loads to haul is one of the most universal challenges for those in the trucking industry. The most recent trucking industry data revealed that the U.S. trucking market size was upwards of $217 million in 2022, so you know the loads are out there, but how do you find them? For large-fleet drivers and […]
The trucking and freight industry is vital to the United States economy, but it has experienced large swings over the last few years due to the COVID-19 pandemic and the post-pandemic recovery. The trucking industry suffered in 2023 with the National Truckload Index experiencing consistent declines since the start of the year. Moving into 2024, […]
Coming to an agreement on freight terms can be one of the more difficult aspects of forging a new partnership with a buyer. Freight charges can be billed in many ways, two of the more common of which include prepaid and add and freight collect. If you own a small trucking business or you are […]
Working as a truck driver can be a liberating experience. But just like any other job, one of the biggest questions to consider is: how are truck drivers paid? As it turns out, there isn’t necessarily a one-size-fits all answer to the question of how do truck drivers get paid. In this article, we’ll break […]
For trucking companies, few things are more important than ensuring you get paid in a timely manner. Maintaining sufficient cash flow for your operations is key for staying cash flow positive. But the trucking industry is one of slim margins. Even the most well-prepared, successful trucking business owners will have periods of negative cash flow […]
While not the most glamorous part of the job, pulling over for a DOT inspection is part of the job as a truck driver. Your drivers will have to make sure that they are ready to stop along their routes. The DOT does these inspections to make sure that everything is safe and secure. Many […]
As a freight broker, you depend heavily on prompt invoice payments to pay operating costs and carriers. However, sometimes you must wait for weeks or even months for payment, causing negative cash flow and mounting debts. To grow your business and be competitive in the market, you need access to cash to keep up with […]
Starting your own trucking business can be a highly rewarding undertaking. According to Zip Recruiter, the average semi-truck owner-operator in the U.S. brings home $228,575 per year. So with this in mind, it’s no surprise why starting a trucking company is such an exciting venture for entrepreneurs. But starting and running a successful trucking company is […]
If you have an entrepreneurial spirit and a passion for trucking, you may have considered starting a trucking company. However, owning a business is a challenging task if you don’t have a plan. A business plan can help you define your company’s mission to get investors, loans, partners, and employees interested. You will prove to […]
The commercial motor vehicle industry is associated with big trucks, multiple deliveries, long drives, and rest stops – not mountains of paperwork. However, documents, certifications, and background checks play a crucial role in operating a commercial motor vehicle (CMV) company. Hiring a truck driver involves a lot more than finding someone with a commercial driver’s […]
Truck detention is something that happens often in the logistics business – it’s common and often unavoidable. However, to make the most of your time and money, there are ways you can plan for detention and minimize detention fees. For freight shippers, understanding truck detention is a critical component to protecting your bottom line and […]
The vast number of requirements for truck drivers and carriers can feel overwhelming. But if your trucking company intends to conduct maritime-related business, there’s one requirement that you and your drivers cannot forget to apply for—a TWIC card. TWIC stands for Transportation Worker Identification Credential. A TWIC card is necessary for a couple different types […]
Let’s face it — getting trucking authority isn’t a walk in the park. There is a plethora of information you’ll find online that can make it hard to keep track of all the required steps. Having your trucking authority means you cut the third player or middleman, thus opening doors for more significant profit. But […]
The freight broker can be an incredibly helpful part of a carrier’s business model. In the best of cases, they lighten the logistics load of the carrier, thereby increasing productivity and efficiency, and ultimately improving cash flow for trucking companies. In the worst-case scenario, however, the actions of insolvent or unreliable freight brokers can run […]
Cash flow is the beating heart of every company, so when negative cash flow permeates your trucking business, you feel the consequences. Because of the threats posed by cash flow problems, many trucking business owners turn to invoice factoring (or “freight factoring” as it’s known in the industry), an alternative financing solution aimed to negate […]
Shipping goods from Point A to Point B sounds simple, but it’s usually a complex process, meaning that independent freight brokers have a lot on their plate. Some of the most common challenges for freight brokers are consistently finding loads to haul, finding shippers for those loads, and forging long-term partnerships with shippers. Yet while […]
With more and more consumers preferring to shop online, the demand for shipping services keeps rising. The trucking industry has been picking up pace in recent years, considering that trucks transport 70% of the total domestic freight tonnage. As per recent research, 63% of online shoppers expect their package to arrive in under three days […]
Most small business owners are acutely aware of the challenges associated with expanding their businesses. Trucking companies are no exception. It isn’t easy to establish and maintain a trucking business. It takes hard work, business knowledge and quick thinking to succeed. While not all business owners will be successful, those who succeed take the time […]
If you own or manage a trucking business, you must have an idea of how much slow-paying customers can affect day-to-day operations. There are many expenses to take care of, such as fuel, fleet maintenance, salaries, etc. If you have a negative cash flow, crucial parts of the business can grind to a halt. But […]
