Trucking Factoring Companies
Doubling Up
The trucking industry has been ever changing the past few years. The one thing that has been constant for the last five is the slow decline of available drivers. In response, there have been ideas floating around that include adding extra trailers to a tractor to increase what the driver hauls. Nearly 70% of trucking companies plan to buy more trailers to add to their routes.
Since the recent Hours of Service regulations that has reduced the hours that truckers can drive and increasing the breaks that they must take, it has been more difficult to add extra routes. Another way to increase productivity with limited drivers is to have a quick turn over process with hauls. Having extra trailers already loaded and waiting to be picked up will make the process go quick. The drivers can drop off and pick-up their freight at a faster rate.
Hiring Trends of Trucking Companies
As of this year, the economy still needs about 107,000 additional drivers according to Bloomberg Business. This drop in drivers has carriers nervous about the thought of their business shutting down. Including adding trailers, there’s another way carriers have been getting back on their feet, and it’s promoting women truck drivers. There has been a large outreach from companies such as J.B Hunt, extending their employment to qualified female drivers. There has been a great deal of change as far as pay, hours, and benefits go that can be appealing to women who would like to be home at the end of the day.
Ready to Jump in?
Is your trucking company thinking of buying extra trailers to quicken the pick-up/drop off process? It might cost you a pretty penny to fund this expense. It may even cause you to run into some financial issues. It doesn’t have to be this way. Partner with a trucking factoring company and you will be able to buy trailers, make payroll, and even hire new drivers with no stress. How is this done? Invoice factoring for trucking companies is an easy solution that advances your invoices to you without having to wait weeks or months to get paid by your customers. This is a debt free process that will never leave you without capital to run your business. Don’t let your business fall victim to the tough economy this year.
