Owning a successful trucking business is no small feat. Keeping watch over a small fleet involves endless hustle to secure contracts, stay up-to-date with safety protocols and best practices, and stay in the game when the logistics and lobbying efforts of bigger fleets continue to throw curveballs.
All of that can weigh pretty heavy on a small fleet owner’s shoulders. But it’s important to remember that even the biggest name in the game started small. By finetuning your financials, solidifying your business practices, and taking advantage of truck and trailer loans, you can grow your fleet and see it thrive. Here are just a few ways to get you started growing your trucking company.
Forge Strong Relationships
Every business relies on strong customer service. Customer relationships are the backbone of any business, and it’s vital that you keep that front and centre as you bring in strategies to grow your business.
Big fleets often have better logistics, but small fleets can compete by offering the service they can’t. By focusing on attention, availability, and special offers, you can charge the rates you need to keep the lights on and your business growing.
Keep Recruiting Costs Low
A trucking company is nothing if it doesn’t have drivers. With a shortage of workers, the market for quality drivers can be competitive. But there are some strategies for attracting the best workers without spending a fortune on recruiting.
Talk to your current drivers and see if they have recommendations or know anyone interested. There’s a good chance they have connections and know of some experienced drivers looking for work. You can place free ads on online job boards. Keeping job advertising costs low allows you to spend that money on other areas that will enable your business to flourish.
Prioritize Safety
Growth can cause resources to be spread thin. It’s essential to pay special attention to safety, especially with changes in rules and regulations. You need to know that your business can withstand the increased scrutiny from the local Ministry of Transportation or the FMCSA that growth will attract. Non-compliance fines can run into tens of thousands of dollars, which will immediately dampen growth plans and potentially put workers at risk.
Look for Financing
As you grow your business, you’ll likely need more equipment. More equipment means you need access to cash. That means you need financial solutions that are more creative than banks can offer. Find a lender with experience working in the industry that will work with you to find the best solution to grow your fleet, rather than standing in your way.
If you’re looking at your small fleet and eager to see it grow, get started now. Keep customer service top of mind, attract quality drivers without spending a fortune, pay attention to safety, work with reputable and flexible lenders, and watch your small fleet grow into a large one.
