The trucking industry can give you a lot of opportunities to move forward in the market and grow your business to new horizons, mainly because the industry carries too much potential. There are plenty of niches that you can target in the trucking industry and you can enjoy always being in demand no matter what market you choose.
From long hauls to local delivery services, you can choose to be any kind of trucker you want. Hotshot trucking is one of the most profitable and easily manageable niches you can enter. Hotshot truck requirements are pretty simple and you can check with the authorities to start your company.
Once you have started your trucking company, you would want it to grow exponentially. Here are some helpful tips to grow your hotshot truck company.
- Handle The Deliveries Yourself
When you are the owner-operator of a hotshot truck business, make sure that you are taking all the orders directly from the clients. Utilize different mobile applications and other methods to find customers. This can be very liberating for your business and reduce your profit-sharing partners.
The other way of finding customers is using a broker. This may make your task easier but every broker will charge a percentage of the profit share.
- Improve Your Fuel Efficiency
Fuel can be the biggest expense for your business which can significantly reduce your profit margins. Make sure to use your fuel efficiently. The best way you can manage fuel economy is by investing in fleet fuel cards. These cards are much more economical, allow cashless payments, and may provide you with various tax benefits in different states.
You should also optimize your trucks to improve their fuel efficiency. Regular maintenance of the engine, avoiding hilly routes, and reducing idle time can improve the efficiency of fuel and increase fuel economy.
- Utilize Multiple Marketing Platforms
You can improve your trucking business by marketing your stronger suits effectively. Make sure to use multiple marketing platforms to increase your brand visibility in the market and to target a wider audience.
Some of the most effective marketing platforms include social media marketing such as instagram, Facebook, and Linked In. You can also utilize SEO strategies to optimize your company’s website and blog if you have any. Marketing is crucial for expanding your business to new markets and attracting new clients.
- Utilize Automation
Automation can also help improve your business by reducing expenditure and maximizing work efficiency. You can use various software to improve work efficiency in your back office. Through various custom-made programs, you can manage logistics, client data, and employee information on one platform.
You can also improve your customer services by providing them with tracking IDs to see their orders in real-time. Automation not only speeds up the work but also makes tasks easier which can help you spend time on things that are more useful for your business.
- Decrease Your Idle Time
You can improve your business by reducing the idle time of your trucks and drivers. Time is of the essence when you are running a hotshot trucking company. The less time you take to deliver orders, the more orders you will be able to handle in less time. Therefore, helping you improve profit yields.
You should use a GPS tracking system to keep an eye on your drivers and keep them accountable for their idle time. You can also use generators to operate the TV, AC, heater, and other facilities in the truck to reduce pressure on the fuel. This will help you reduce fuel wastage on unimportant tasks.
- Avoid Cheap Freights
Once you have established a name in the market, try to avoid taking on tasks that are strenuous but low paying. Low-wage work should not be in your consideration. If you start taking cheap freight, it will not only ruin your reputation in the market but also put an unnecessary load on your business.
You can take orders that pay a good amount. You should also consider having enough orders to be shipped in a particular locality before you even consider it. This can reduce your fuel wastage and workload. Shipping one order in a particular locality is far less economical than shipping at least 50 orders.