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Running a trucking company comes with many challenges and financial considerations. In fact, running a trucking company is so difficult that less than 20% of companies will make it to their second year of operation. Even more shocking, more trucking firms closed within the first six months of 2019 than in all of 2018.

The trucking industry is filled with ups and downs, but there are steps you can take to potentially boost your savings.

Boost Savings to Improve Your Bottom Line

When looking to identify cost-cutting opportunities and increase efficiency, it can be easy to go overboard. Keep your trucking company in line with some of these basic steps:

  1. Anticipate Hidden Costs: Often times these hidden costs are the ones that prevent trucking companies from reaching goals and maintaining efficiency. Some of the most common areas of hidden costs include unscheduled maintenance and repair, fuel spend management, and driver behavior.
  2. Never Waste Time Looking for a Load: Using a load board, like the one from, could help keep you busy. Check out the world’s largest FREE online load board now to get started.
  3. Use technology better: So many trucking companies lose momentum because they don’t have enough people to help them with their operations. There are now hundreds, if not thousands, of digital solutions available to trucking companies. See what’s taking up the majority of your time and then look for a app or platform that can help.
  4. Get Paid with Freight Factoring: Freight bill factoring can speed up the cash flow of your business and help keep your operation running smoothly. A factoring company can help take over some of the back office services that you’re currently doing yourself.

This extra time can be spent on growing your business through building better relationships with brokers or just having more time to take on more business. we offer our members exclusive access to freight factoring services from Triumph Business Capital.

These are some basic starting points for carriers looking to make small tweaks to boost their bottom line. Find even more tips for running a successful trucking operation by checking out our blog. Or get a head start on finding freight by signing up for the world’s largest FREE load board.

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