10 Pieces Of Financial Advice For Small Carriers

Money

1)  Make sure you understand more about the science and art of logistics. You can find out more about it through courses and publications, particularly ones directed toward shippers.

2)  Calculate the break-even points of each of the tractors you have in your fleet.

3)  Take a serious look at cutting down your excess costs and make it priority.

4)  Recalculate your profit range targets.

5)  Figure into these hauling rates a reasonable and fair compensation for your company and contract truckers.

6)  Revisit all technical specs that determine the hauling rate range of every piece of equipment you operate.

7)  Develop freight lanes with customers that fit within the revenue requirements you’ve set to be profitable.

8)  Improve your CSA compliance by revising your maintenance schedule. Perhaps investigate a new mechanics service to reduce costs.

9)  Calculate new targets for revenue. Plan new avenues for customer acquisition. Investigate new shipping companies whose needs may align with yours.

10) Revisit the other 9 goals every month during 2012