The trucking business is a very competitive business, there are so many great truck drivers who tried to get into the trucking business and failed in that attempt.
There are statistics that 970 carriers with five or more trucks were forced to close their business in 2013. The line between profit and loss is very thin, one wrong decision can bankrupt the company.
Starting and growing a trucking company on your shoulders takes a lot of hard work and dedication. Leading your company takes a disciplined approach. You need to know how to deal with people in a business sense, to make the right decisions and to take the right actions.
Is it really profitable like people think?
If it was so easy to do, in the last few years we would not have thousands trucking companies who have lost their equipment and gone bankrupt.
Source: www.stateofthemarkets.com
The factors that directly influence the trucking industry are
- Variations of the fuel prices
- Ups and downs of production of goods
- Big competition
- Regulatory requirements
- Unpaid invoices or payment delays
Over the last few years trucking industry was in the golden years, with high profits, not so much regulation, steady fuel cost. Because of this positive income, many trucking companies were opened.
