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? […]
Let’s face it, running a trucking business isn’t a walk in the park. While becoming an owner-operator can really pay-off in the long run, this is an industry known for long payment terms and hefty operating costs. These constant challenges make it difficult to maintain enough working capital to keep operations running smoothly, which is […]
Entering the trucking industry as an owner-operator comes with one consequential decision in particular: whether to lease-on with a motor carrier or 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 differences, responsibilities, benefits, and […]
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. You may be convinced you’d enjoy life on the road, but how […]
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 owner-operator vs. company driver comparisons. And of course, because owner-operators have to deal with the complexities of running their own business, there’s the big question: is being […]
Jobseekers have likely heard about 2023 being a year of an impending recession (small business owners even believe we’re already in a recession). 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, even with the economy having slowed down, […]
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 […]
Getting loads for trucks is one of the most universal challenges for those in the trucking industry. Trucking statistics show that the US trucking market size was upwards of $217 million in 2022 and projected to grow. So you know the loads are out there, but how do you find them? Finding the answer to […]
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 keeping finances in the black. Well-designed trucking invoices can go a long way in helping you get paid quickly, but in times when money is needed as soon […]
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. With this in mind, it’s no surprise why starting a trucking company is such an exciting venture for entrepreneurs. Trucking companies have some of the highest potential for venturing […]
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 hiring process involves a lot more than finding someone with a […]
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 number of forms and requirements for truck drivers can feel overwhelming. And for trucking business owners, knowing which applications and qualifications will best benefit your business can be a challenge. But if your trucking company intends to conduct maritime business, there’s one form your drivers shouldn’t forget to apply for – an application for […]
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 […]
