Download Cheat Sheet: 10 Secret Tips to Increase Profit Of Your Trucking Business
To do this you need to pay attention on your cash flow and the cost of deadhead miles to make the correct calculations.
Source: www.pcgfactoring.com
Cash Flow – You bought new trucks and you spend a lot of money on that? That is great, but if you get to the point where you cannot pay the regular expenses in the next period, you will run out of cash.
This is the point where you, with the new trucks will not be able to transport loads which means unnecessary downtime of your vehicles. This is very bad for your business, but your competition will love you for that.
If you spend a lot of money and rely on customers to pay on time to continue your freights, you may face an empty pocket and no position to keep up with your work.
As a trucking company you have to know that you should not rely on randomness. Having a slow-paying client is part of the job and by the way one of the worst enemies for every trucking company. Be prepared for everything!
DISCOVER 100 BEST TOOLS TO RUN TRUCKING BUSINESS
Hey! I'm George J. Magoci and I will send you a FREE eBook where you can Discover 100 Best Tools to Run Trucking Business.
It is always a good way to have some money on the side to cover your spends like fuel, drivers, unexpected repairs in case your client pays latter.
