Become Profitable With LTL Freight
The trucking industry offers tons of job opportunities for skilled and qualified drivers. One lucrative segment of the trucking industry is LTL freight or less-than-truckload. Those wanting to break into the trucking industry should explore LTL jobs. Plus, in 2022, many LTL carriers are implementing rate increases, which is good news for drivers. Read on to discover more about the trucking industry’s profitable and growing arena, LTL freight, and how you can get behind the wheel doing LTL jobs.
Overview of LTL Freight
LTL drivers have a dedicated local route. An LTL company, like UPS, FedEx, and Yellow Freight, to name a few, combines several smaller freight shipments on the same trailer allotted for different destinations versus a full truckload to one destination. These jobs are highly sought after because they tend to be more locally driven, giving the driver more time away from the wheel and at home.
LTL freight jobs offer drivers more efficiency, flexibility, and cost-effectiveness. LTL combines partial loads to create multi-stop truckloads, improving efficiency for faster and better delivery of goods and products. Shipping costs are less because it’s based on space used, pick-up and destination locations, etc. You are shipping smaller packages to several locations.
LTL freight transfers smaller freight to different trucks between destinations. LTL uses a hub system. An LTL shipment of cargo can get moved many times before reaching its final location. So, it might take longer to ship LTL than FTL freight. Time-sensitive freight may be better suited being shipped another way.
Carrying LTL freight could be an opportunity to haul light freight and offer one-stop shopping to a customer. For a trucking company, LTL can help them avoid empty backhauls and maximize capacity on trailers.
Five Advantages of LTL Freight
Decrease expenses by combining shipments from multiple customers to make larger loads. LTL freight consists of several smaller shipments using only a portion of the truck’s available space. Businesses pay for the space they use, ensuring the cost will be a fraction of what a complete truckload shipment would cost. Freight charges are more favorable, based on the truck’s class, space, and weight, instead of the entire haul or truck.
LTL shipping improves efficiency and delivery speeds by bypassing the need for each shipment to fill a full truckload. Using LTL shipping ensures freight or inventory ends up exactly where it needs to be when it needs to be there. Small companies benefit from LTL shipping because they ship fewer goods and spend less on freight than large companies. Small businesses can take advantage of LTL services and shipping options without paying high costs for unused space.
Get to Market Fast
Instead of waiting for enough orders to maximize a truckload or send a half-empty truck, customers can book their goods immediately to arrive at the consignee ASAP.
More Service Options
When negotiating LTL rates, carriers will offer additional services. Shippers can specify needs like lift gates, inside pick-up and delivery, cross-docking, non-commercial shipments, event notifications, cargo tracking, etc.
Many LTL carriers provide tracking details, such as event notifications, where shippers can see in real-time when their goods are picked-up, in transit, on-time/delayed, and dropped off.
Breaking into the LTL Segment
The LTL segment should get more attention because it’s an excellent option for new drivers. To become an LTL driver, you need to gain the necessary experience. To qualify, you can complete the driver’s solutions program and begin your career as as driver. Many drivers start their careers in this way. After a year or so of experience driving other freight, your opportunities will expand, where you can seek better-paying jobs as an LTL driver. On average, LTL truck drivers can earn about $52,500 annually. Salaries can increase due to the additional benefits.
The 2022 outlook for LTL is promising. e-Commerce growth and the adoption of new technology in LTL services drive market growth. Truckload capacity challenges are moving additional volume into LTL. High rates and new equipment coming online will entice more drivers to the market. That will eventually affect demand and rates.
Get in Touch with CFF
Commercial Fleet Financing expands fleets across the U.S. and helps the trucking industry flourish. Join more than 10,000 customers who have used CFF to grow their fleets and businesses. Contact Commercial Fleet Financing to hear about the most flexible financing terms in the market, so you can get on the road as an LTL driver!
About Commercial Fleet Financing, Inc.:
At Commercial Fleet Financing (CFF), our pros have given smart advice to fleet owners and owner-operators in the transportation, moving, towing or construction industries for more than two decades. With CFF, finding the right financing solutions is a phone call away and most borrowers secure commercial vehicle financing with ease. To talk directly with one of our finance pros and get started with credit approval in as little as two hours, CFF’s phone number is (469) 281-2962.