Grow your company profits this year by landing high-ticket jobs.
We believe the transportation industry is bouncing back in a big way in 2020. You’ve got to strike while the iron’s hot, which means it’s time to put our vision glasses on to map out a clear path to bigger profits.
You can increase revenues and profits this year by going after loads that pay more. As you know, the rates you get for loads depend on the load type, mileage, licensing and experience level you have.
As you’ll see from our list, many of the highest-paying jobs involve higher stakes – expensive, difficult or dangerous loads and/or tougher terrain. As a rule of thumb, you get higher pay for increased skill required to perform the job.
Before we get into the top five, we can’t fail to mention the job that’s probably the single most profitable of all hauling jobs this year, ice road trucking.
Yes, ice road truck drivers are some of the biggest earners, bringing in $30,000 to $40,000 in just 3 months. But these guys earn every penny! You see, these drivers haul across the frozen roads of northern Canada to get goods to miners during the winter. The roads up there are dangerous during the winter, which takes a highly qualified driver to navigate. That’s why many people who apply for these jobs don’t make the cut.
There are more pleasant ways to grow your fleet than getting stranded on an icy road somewhere close to the north pole. Let’s take a look.
Luxury Car Hauling
Luxury car hauling proves the logical point that you get paid more to deliver cargo that cost more. In the right setup, your truck drivers can get paid $100,000 a year hauling luxury cars. So, your fleet will bring in more money going into this niche than many others.
Keep in mind though, this is a highly skilled job. Your drivers don’t need special certifications to do the work, but they will need to have a stellar driving background.
Hazmat Hauling
Hazmat hauling is another highly profitable niche to get into. But the pay is higher because it also carries a lot more risk and danger. Your truck drivers will be hauling explosive materials that include corrosive substances, flammable liquids and explosive gases.
YIKES! Still, if you have safe protocols and proven training taught to excellent drivers who pay attention to details, it can be profitable.
Drivers will need a hazmat endorsement in addition to their CDL. To get this, they will need to apply and pass a test. Many companies pay to certify their drivers, so you might consider doing the same – because this is such a lucrative and high-demand niche.
Tanker Hauling
Tanker haulers get paid good money to deliver hazardous and non-hazardous liquids – like water and milk – although lactose intolerant people would probably argue that milk is definitely combustible in other ways.
Point is, tanker drivers can get paid $60,000 a year, which makes this a lucrative move to consider for your fleet.
You will need to consider providing pay for one of two certifications your drivers will need: an X endorsement or an N endorsement. An N endorsement qualifies you to drive loads of 1,000 gallons and up. An X endorsement includes the N endorsement and a hazmat certification.
Over-sized Load Hauling
Moving over-sized loads requires additional certifications and a higher degree of skill, so this work comes with higher pay – as to be expected. You can haul heavy construction equipment or even small houses in this type of work.
That’s why over-sized load truckers earn an average of $54,000 a year, and with the right experience, can earn six figures. That means you will be able to provide more profitable opportunities for your truck drivers than with other types of hauls.
Mining Industry Trucking
Here’s a niche that requires talented drivers. Mining companies need skilled drivers to transport coal and other materials out of mines and to destinations. When moving materials out of mines, sudden movements and bumps can cause collapse, so it’s a quite risky job.
The need for highly skilled labor is one of the big reasons this work pays so well. In fact, mining industry trucking falls just behind ice road trucking compensation, without the freezing weather and needing to be located all the way up in northern Canada!
With the right certifications and the right experience, you can take advantage of these higher paying opportunities and make 2020 your most profitable year yet!
President of CFF, Matt Manero, goes over the top 5 most profitable fleet jobs of 2020.
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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 a credit approval in as little as two hours.
CFF’s phone number is (469) 281-2962.
