How To Grow Your Trucking Company

Writen by Marco Terry

Running a successful trucking company requires three things.

1. Finding truck loads of freight
2. Moving the truck load from point A to point B
3. Managing all the little details so that 1 and 2 happen successfully

Sounds easy, doesn't it? However, most trucking companies fail because of the little details that go wrong. Repairs are missed, so trucks stop working. Drivers are not paid on time, so the drivers quit. Fuel is not paid for, so the trucks stop moving freight. Although the problems may look entirely unrelated, they are connected. They all indicate that there are cash flow problems. What is worse, your company may be doing great and invoicing a lot, and still have cash flow problems. That is why most owners don't find out about the problems until it is too late.

Trucking companies need money to keep running. Actually, they need more money than traditional companies. Money to pay drivers. To pay for fuel and repairs. To run their business. In the transportation industry, you surely need to spend money to make money. Otherwise, try hauling a load in a truck that does not have fuel….or a paid driver.

The biggest cash flow challenge that trucking company owners have is waiting up to 60 days to get paid for their freight bills. Slow paying clients can limit your cash flow and potentially drive you out of business.

Fortunately, trucking companies have a great financing option that is easy to qualify for. It is called freight bill factoring. Freight bill factoring provides you with immediate money for your freight bills and eliminates having to wait to get paid by your clients. It provides you with the necessary funds to repair your trucks, pay your drivers and keep up with fuel expenses.

Freight bill factoring is really easy to do and set up. And more importantly, once you set it up, it can provide you with ongoing continuous funding. This enables you to turn invoices into cash almost immediately, and use the money to grow your company.

Growing your trucking company does not have to be a financial challenge. Freight bill factoring can help you finance your way to success.

About Commercial Capital LLC Moving truck loads of freight? Need business financing? Use freight bill factoring to finance your growth. Call Marco Terry at (866) 730 1922 for a consultation and a quote.

3 comments:

The only way to get out of the cash flow rut is to find a way to Freight Factoring on your slow paying invoices. The best tool to do this for a trucking company is called freight bill factoring.

June 10, 2010 at 12:00 AM  

Because qualification is based on the creditworthiness of your customers (ie: not yours), you can still qualify for factoring even if traditional lenders have turned you down.

Source: http://www.accutraccapital.com/

August 29, 2013 at 8:22 PM  

Great post on trucking business and thanks for 3 main points to make it better.

May 12, 2016 at 5:33 AM  

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