trucking business funding Archives - Small Business Funding Online

Marketing Strategies For Trucking Businesses At Different Stages

As with any other industry, the trucking industry is also competitive. Given below are three effective marketing strategies for trucking businesses that can be implemented using merchant cash advances from commercial truck business financing agencies at different stages.

Marketing strategy to spread the word

The aim of all marketing at the initial stages of a trucking business should be to get word out about the business. Handing out flyers and brochures, advertising on print and on air in local media, setting up billboards, getting listed on the yellow pages, etc. are just a few of the many strategies that can be adopted to spread word about the business. Trucking business funding agencies hand out merchant cash advances to new businesses with no credit history and this is the best source of capital for the marketing required in the initial stages.

Marketing strategy to bring in new customers

Once, the word is out that a new trucking business is in town, you should focus on bringing in new customers. The easiest way to do this is by offering opening sales and discounts. Attractive offers that best those offered by competitors will help bring in new customers. Offers inevitably are an expense point and trucking business funding can be availed to pay for running these sales and offers.

Marketing strategy to retain customers

Success is guaranteed only when customers keep coming back. This should be secured by quality of service. A few marketing strategies can also help retain customers. The most effective strategy is to offer to customers monthly subscription packages at a slightly reduced price. This will secure business for a duration of time. The capital required to put this strategy into place can be availed from commercial truck business financing agencies.

How Does Funding for Trucking Companies Help Keep Your Business Afloat

For those in the trucking industry, maintaining your trucks and keeping drivers satisfied can be a challenge. With commercial truck business financing, you can efficiently deal with sudden emergencies, such as a truck breaking down or being involved in an accident or any other unforeseen expense. If you are an independent contractor and want to expand your fleet or upgrade to new trucks a cash advance is very beneficial. Larger companies can also avail of quick cash advances, even if they require large amounts.

Funding For Regular Truck Maintenance

Many companies opt for commercial truck business financing to meet maintenance expenses. Quite often, business owners may neglect regular maintenance to reduce overall costs, but this eventually leads to more expenditure as your truck may end up requiring extensive repair. A part of maintenance includes keeping track of the distance traveled, the type of load carried, the kind of roads traveled on, and the weather conditions. There may be times where extensive maintenance is required and this is when a cash advance can be helpful.

CashAdvancesforAdministrative Expenses

Commercial trucking companies also require cash advances for administrative expenses. Administrative costs could include registration fees, certification fees, insurance costs and even driver salaries. These costs are usually incurred on a monthly basis. Further, during months that require larger capital investment, especially for the renewal of various policies, trucking funding for business owners is useful.

As a trucking business owner, there are many costs that may be tough to handle by yourself on a regular basis, which is why a cash advance is extremely useful. Irrespective of the regular or urgent expenses incurred by your trucking business, such as hiring and training of drivers, maintenance, leasing/buying of trucks, administrative needs and general business expansion, ensure that you identify a suitable and reliable cash advance lender to help you meet your business needs.

What is Trucking Business Funding Used For?

An uninterrupted cash flow is a necessity to ensure the success of a trucking business. However, this cannot always be ensured by the business owners on their own, and this is where trucking company funding comes into the picture. Given below are the most frequent purposes for which such funding is sought.

For meeting maintenance expenses

Trucks require frequent maintenance. Avoiding periodic maintenance will affect the efficiency of the truck, and eventually affect the success of the business. Maintenance of trucks depends on the distance travelled, the type of load carried, the roads travelled on and the seasons. Some months call for more extensive maintenance than others, the cash required for these months is usually availed through trucking business funding.

For meeting administrative expenses

Trucking company funding is also sought to pay for the various administrative costs that are incurred in running a trucking business. This includes registration fees, certification fees, insurance costs, etc. While administrative costs are usually steady across months, some months require greater capital investment, particularly for renewal of various policies and repeated compliance.

For meeting expansion expenses

The expansion of a trucking business primarily involves procuring additional trucks. Such procurement can be by means of complete purchase or by taking trucks on a lease. Whatever be the method of procurement preferred by trucking business owners, trucking company funding is usually preferred to meet the cash requirements that arise.

For meeting hiring and training expenses

Hiring and training expenses are also usually met by trucking business funding. With increased business, the need to hire more drivers arises. Once competent drivers are hired, it is necessary to train them on the various safety regulations followed through seminars. All of these expenses can be easily covered by means of trucking business funding.

Smart Ways to Use Commercial Truck Business Financing

If you’re the owner of a trucking business, you may be already aware of the areas that need an infusion of funds. To take your business to the next level, you need to invest in certain areas to increase profitability in the long run. This is where trucking business funding can help.

Recruiting the Right Team

Unless you have skilled operators handling your fleet, you run the risk of accidents, which may even have legal implications. With trucking company funding, you can hire experienced and trained drivers. Apart from recruitment, as a business owner, you also need to ensure good working conditions as your staff may be involved with loading, lifting, and other dangerous activities.

Covering Maintenance Expenses

It’s a well-known fact that this business has a high overhead cost. From repairs to gas, there is a number of expenses that simply can’t be ignored. Just a couple of months of slow business can drain your finances, and you may find yourself in trouble. To combat this, you can apply for commercial truck business financing in the form of a merchant cash advance.

Meeting Government Regulations

When you have adequate funds in your business bank account, it makes it easier to follow new regulations instituted by the government. From necessary paperwork to investing in electronic monitoring, you can adhere to safety and health standards that are practiced in the industry. Further, with COVID-19, you may have to spend extra on sanitization and maintenance.

While running a trucking business may be expensive, you can meet your financial requirements by applying for a cash advance. This simple application process and flexible structure for repayments will reduce your stress off your business. Contact leading lenders in the market who offer trucking business funding.

Three Smart Reasons To Apply For A Trucking Business Funding

To an outsider, a trucking or transportation business might appear like a straightforward business model. One that seems highly profitable once you have invested in purchasing the fleet. However, the reality is that, like any other business, it also requires constant upgrades and has its share of operating costs. In fact, in a trucking company, the nature of the business and the equipment demands even higher running expenses than other small businesses. From dealing with breakdowns and accidents to insurance and workforce training costs, a trucking business owner will have much to pay for the whole year round!

Naturally, having access to easy business funding can be extremely helpful for running the business smoothly. But beyond that, trucking fleet owners can do much more with alternative online funding. Here are a few ideas:-

Upgrade And Add Technology

You can use trucking business cash advance to enhance the productivity of your entire business. There are many new, specially designed devices in the market that can help you become faster and more efficient. From next-gen GPS to track your shipment to company-wide CRM software to automated web portals to connect your clients to their shipments – simple one-time upgrades and integrations can help you deliver better customer experience AND cut down wastage. Use trucking business funding to add these without stressing your cash flow.

Training

Training and compliance are critical to stay safe on the road and to avoid massive insurance costs and fines. We have seen many of our clients from this industry using a trucking business funding to stay on top of the stringent government safety norms by providing the latest driver safety training required by the Federal Motor Carrier Safety Administration (FMCSA).

Advertising

Trucking businesses must also contend with the competition. Getting new clients and retaining old ones doesn’t just happen organically. It requires constant marketing efforts to stand out in a crowded industry. You can use trucking company funding to build your reputation and launch a professional advertising campaign.

Are you already using alternative lending funding offers in your trucking business? Do tell us how you are leveraging easy alt-finance capital to grow your business in the comments section below!