It takes more than knowing how to choose the best routes, on-time delivery, obtaining your IRP Plates, and others to run a successful trucking business. Running a profitable trucking company requires saving more by cutting down your expenses. You need to manage your resources and use them right, control your operational cost while fulfilling deliveries with utmost efficiency.
Managing a trucking business is not an easy task with lots of competition and rising fuel prices. Customers can also be inconsistent with their orders and payment schedules which can affect your turnover. Nevertheless, we do not want a lack of cash flow to stop you from achieving your goals. That is why Global Multi Services put together some cost-saving tips that can help you boost your profits and make your business thrive in the ever-changing world of trucking.
ENHANCE FUEL EFFICIENCY
According to reports, trucking companies spend more on fuel than on any other area of expenses. That means most companies could significantly reduce costs by enhancing fuel efficiency. There are many steps you can take to make these happen. Ensure your drivers understand the value of efficiency by maintaining proper tire pressure, acceleration rates, and many more.
You can also collaborate with companies that offer fuel cards to give you discounts and other benefits at truck stops nationwide. But you need to consider the coverage, savings, and how beneficial; it is for your trucking company before signing up for the program.
GET YOUR IRP PLATES
Saving cost in your trucking business involves registering your company and getting necessary business licenses and permits. Obtaining your IRP Plates and other permits help avoid stopping your truck by the Federal Motor Carrier Safety Administration officials. It helps stay in compliance with the trucking industry regulation and avoid penalties and fines.
You do not have to worry about delays and pullovers. Additionally, running a cost-saving trucking business need proper structure. These allow you to mitigate some risks of unexpected losses and business advantages.
REDUCE TRUCK IDLING TIME
According to the US Department of Energy, idling a heavy truck consumes fuel and increases engine wear even though the vehicle isn’t moving. It is one of the most wasteful yet overlooked habits of many drivers that need to be addressed. Being pulled over to make a quick drop-off or taking a momentary roadside break does not warrant idling.
Trucking companies need to educate their truck drivers about the effect of idling on fuel. But idling can sometimes be impossible to avoid. These include when a truck is stuck in traffic or stopped at an intersection. Nevertheless, there is no reason for a driver to leave a truck idling for no reason.
PLAN YOUR ROUTE
Trucks drivers often have exclusive routes to specific delivery locations. But in some cases, alternate routes may be shorter with lesser delay. So, trucking companies can reduce their cost by planning the most efficient route for each delivery. Checking the weather condition, traffic jams, construction delays, shortcuts, bridges, truck parking, and road limitations will help; make a smooth trip. Thanks to routing software and other apps, drivers now have access to shorter routes, saving fuel and time.