While not the most glamorous part of the job, getting your truck ready for a DOT inspection comes with being a truck driver or trucking business owner. Your drivers will have to make sure that they are ready to stop along their routes. And while preparing for a level 1 DOT inspection can seem tedious […]
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 growing 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 […]
Freight brokers can be incredibly helpful for carriers. 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, unreliable, or even fraudulent freight brokers can run a trucking business into […]
Because of how common cash flow problems are for freight companies, many trucking business owners turn to freight factoring. This alternative financing solution is aimed to improve cash flow and working capital, acting as a tool to drive growth. After learning about what freight factoring is, the next step is to find out how much […]
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 cash flow challenges associated with expanding their businesses, and trucking company owners 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 and maintain positive cash flow. While not all business owners […]
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 negative cash flow, crucial parts of the business can grind to a halt. But did […]
