How To Maintain Profits

These days, running a profitable trucking business is complex and demanding. Sky-rocketing fuel costs, strained supply of fleets, and inflation reaching a 40-year high are just a few of the challenges trucking business owners face. These factors and others directly impact your profits.

Maintaining profits in this unpredictable market can be an arduous task. Cutting expenses may or may not be an option for you. So, what are your options? Do you raise your rates? Do you purchase another truck? Add another driver to offset the expenses with more revenue?

Many questions about how to maintain profits are forcing fleet owners to be more innovative in their approach to help boost their profits and grow their companies. Commercial Fleet Financing (CFF) offers valuable methods, such as the Budget Builder Tool, to help its customers calculate profits and make more informed buying decisions.

Along with using modern tools, like Budget Builder, and working with financial experts like Commercial Fleet Financing, truck owners can make better decisions about new or used truck or equipment purchases so they can continue to operate and grow their businesses. The outlook ahead is bright, too. According to the U.S. Freight Transportation Forecast to 2022 by the American Trucking Association, freight tonnage in the U.S. will grow 24 percent by the end of 2022. Revenue in the industry is expected to rise 66 percent.

Plan and Grow with Budget Builder – Know Your Expenses Before Your Purchase

Commercial Fleet Financing’s Budget Builder tool is essential to being profitable with your next purchase. It helps you determine the profitability of your desired equipment purchase. Whether you are buying a truck, trailer, tow truck, yellow iron, day cab tractor, big rig, cargo van, straight truck, etc., assess your profitability with the Budget Builder tool.

You can use the Budget Builder tool in the following situations:

  • Before you buy new equipment or trucks.
  • If you are thinking about upgrading your equipment.
  • If you are going after a new contract and need to buy more equipment to fulfill the contract.
  • If you are thinking about raising your prices and want to see if it will impact your profits.

Before you buy any equipment, use the Budget Builder tool to your advantage. You can customize your purchase based on cash flow needs, your revenue needs, your desire to equity build, and more. Play with your numbers to get the maximum benefit of the tool. Think about changing the monthly terms.

It takes less than a minute to answer the questions and click Calculate to determine the profit you will generate with the piece of equipment that you want to purchase.

Stay Focused on Growth – Now is the Right Time

It may be nearly impossible to cut your expenses when everything is so high, so our advice is to grow.

Some trucking companies have one truck in their fleet. And other trucking companies have thousands of units in their fleet. What is the difference? The owner with thousands of units of fleets focused on growth. Open-minded and forward-thinking truck owners do anything they can to grow their businesses, regardless of the state of the economy, regulations, etc. They had the confidence to enter the marketplace and extract enough market share to meet their goals.

At CFF, we believe the economy will flourish for the next two to three years. We think that the government will provide a stimulus for rebuilding infrastructure, bridges, and schools. And that’s going to cause tremendous demand for the products that are on trucking company’s trailers. Now is a great time to grow, but you need to believe in your business and goals.

CFF’s president, Matt Manero, said, “You need to have total confidence in yourself as a business leader; you have to have a great group of people that work with you. You have to have great client relationships, and you have to say to yourself, the marketplace is so big, and I need such a little sliver of it that it doesn’t matter what factors happen.”

2022 Outlook – Bright and Sunny

Don’t wait to purchase a new truck or grow your fleet. In 2022, the freight landscape will be dominated by the 70% share of freight transport conducted by trucks.

Many trucking companies expect to see the same challenges from 2021 to 2022. Fortunately, a strong economy and new strategies, like evaluating your profit potential with the Budget Builder tool, will create a positive environment for transportation sector operators.

There will always be obstacles to overcome. Running a profitable trucking company requires thorough planning centered around careful financial management. Cost-cutting strategies, pricing, and cash flow planning play an important role in maintaining a good trucking business.

Contact CFF to learn how we can help you get on the road to success with simple strategies and flexible financing options.

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.

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