When it comes to running a trucking business, there are several challenges that newbie truckers will want to overcome. There is tons of competition going on alongside the different aspects, such as increasing fuel prices, inconsistent orders, and conflicting payment schedules.
As a newbie trucker, you will want to know certain strategies that can help you increase your profits and grow your trucking company.
Read on to learn more!
Save On Fuel
Of course, you won’t be able to control the fuel price, but you can certainly somewhat control the fuel consumption. One of the best tactics that will help you save money is to get yourself a fuel card. With a fuel card, you will be able to save approximately 40 cents on every gallon.
The fuel card is accepted universally at the major fuel chains.
Opt for the Best Route
You will want to plan your route beforehand so that you can save money, time, and fuel. Firstly, you will need GPS routing software that will enable you to plan your route effectively. By investing in this sort of software, you will be able to plan your route more efficiently, which will help you increase your profits.
Stop Wasting Time
The potentially worst thing that you can do is to do idling. The thing about idling is that it only leads to a waste of fuel and money, especially when it turns into a habit. According to the American Department of Energy, idling time can cause waste of up to 0.8 gallons of fuel hourly.
Moreover, if the truckers tend to idle, they also keep their power sources running, so you will want to switch to economical alternatives to save as much as possible.
As a truck owner, you will also want to pay attention to tire maintenance. The quality of your tires has a vital effect on how your truck operates regarding fuel efficiency and safety. You will want to ensure that your truck tires are always inflated as per the manufacturer’s recommendations.
However, you can save fuel and boost profit by upgrading the tires to LRR (Low-Rolling-Resistance) tires.
You will want to ensure that your truck remains in optimal condition. And you will want to look into it from the beginning of the trucking business after applying for the DOT. If you are operating in New Jersey, you will want to Get New Jersey IRP registration, which is typically annual.
This registration allows you to operate interstate with a single cab card and registration plate. Regarding truck maintenance, you will want to integrate regular preventive maintenance to help your truck perform better.
Understand Exact Costs
As a trucker, you will want to stay on top of the exact costs if you are serious about boosting revenue. If you want to boost revenue, you will want to know the costs first. You will want to assess both costs, the fixed costs and the variable costs.
The fixed and variable costs include insurance, permits, fuel, property eases, and meals and lodgings.