As a trucking owner-operator, it may seem like a struggle to make enough money to cover your expenses, let alone put any savings in the bank. Luckily, there are some simple ways to put more money in your pocket.
Our experts share their top tips for planning and finding solid resources. Read on.
1. Get the best rates
Make more money per mile by negotiating the best rate on your loads.
Then, look for a load board that shares information like rate trends and spot market rates so you can find and negotiate the best deal. We’re DAT Load Board affiliates and offer free 30-day trials to our clients.
2. Make great relationships
You’ve heard the saying, “It’s not what you know, it’s who you know.” This is true for the trucking industry, too. Try to form lasting relationships with trusted brokers who know to call you first when a load becomes available. There are several trucking industry organizations where you can make solid connections.
3. Plan ahead
Avoid deadhead miles and make more money per trip with a little extra planning. A good load board or dispatch partner make it easy to plan multiple trips with fuel efficient routes and gives you visibility to backhaul loads you can pick up.
4. Lower your fuel costs
Fuel is a huge expense for owner-operators. On top of careful route planning, you can also get major fuel discounts when you become a fuel card program member. The Transcap fuel savings card offers up to $.20 off per gallon and covers 100% of all diesel purchases so you’re never stuck at the pump waiting for funding to come through.
5. Avoid cashflow roadblocks
Don’t wait to get paid. You might wait 60-90 days for invoices to be paid – delays waste your time and money. Freight factoring clears your path to cash by paying you in advance on your invoicing. Factoring companies like Transcap help you instantly boost your cash flow so you can stay on the road and purchase fuel, pay insurance, make payroll and more.
Make More and Save More as a Trucking Owner-Operator
Growing your trucking business doesn’t have to be hard. Good planning, the right resources and a strong freight factoring partner can help you make more and save more to accelerate your business growth. The friendly experts at Transcap are here to help! Schedule a free, no-obligation phone call to learn more about our lightning-fast funding here.