Are you an individual or company looking for ways to cut down on large expenses? Here we will break down some tips to help save money and reduce trucking expenses. See how these can help you or your company save money in the long run:
Tip One: Invest in Technology
Trying to save on trucking costs is no easy feat, and there is a way to let technology help you figure this out so you’re not alone. Platforms such as QuickLoad can help shippers, as well as carriers, be more efficient in their day-to-day business.
QuickLoad is a one-stop shop with its ability to create instant quotes and make sure you’ve got everything you need to schedule your deliveries at your fingertips. Small fleets can now utilize QuickLoad in their operations, and individual truckers can utilize it to simultaneously complete their company moves as well as using the app to find new loads. Using QuickLoad does not require any hidden fees, and gives you the freedom to be your own boss. As a bonus, you are paid within 48 hours and support is offered 24/7.
Learn more about how QuickLoad can work for you by visiting www.quickload.com.
Tip Two: Figure out where the expense cuts need to happen
You can begin by making sure your drivers are tracking their expenses as thoroughly as possible. From there you can come up with a more viable budget and see where there is room for changes. The two types of expenses are fixed and variable. Fixed expenses are those that you cannot control and are necessary such as the equipment, taxes, etc. Variable costs can change each time such as meals and fuel. It is more helpful to focus on saving on variable expenses as you move forward.
Tip Three: Create a profit and loss statement to further analyze budget
Having a profit and loss statement done at the end of every month is an important step to finding areas of expenses that can be cut or scaled back. Whether you do this in-house or hire an outside financial professional, this will show you where you are losing money and how this can be prevented in the future.
Tip Four: Perform regular checks on equipment
By making sure the equipment is working effectively, you can save for the long haul. Finding broken or ineffective parts early on will be beneficial as the cost to repair may be smaller the earlier it is found. Some things to check regularly before and after a long trip are that tires are balanced and aligned, tire valve caps are on, and that tires have the correct pressure. Professionals should perform more thorough checks on the engine and other important parts regularly as well.
Tip Five: Get your drivers on the same page
The drivers need to be informed and on the same page about trying to save on expenses as a lot of it depends on them. Driving at fuel-efficient engine speeds or not idling unnecessarily are two ways to cut cost on fuel in the long run and reduce wear on the equipment. Having drivers be aware of the goal to reduce trucking expenses will keep everyone on the same page moving forward. Because fuel is something you have no control over cost-wise, areas to focus on reducing the use of fuel lies mostly with the driving habits of your drivers.
Tip Six: Keep your employees happy and healthy
While this may not be an obvious tip, keeping drivers happy and healthy will reduce your trucking expenses in the long run. Sicknesses or fatigue could increase the trip length as well as cost your business money and potential clients. Educate your employees on important self-care tips for their physical and mental health.
Another way to keep employees happy is by offering health benefits, allowing time off, and encouraging camaraderie.
Tip Seven: Choosing a time to start and go from there
Commit to a start date on these expense saving measures and get your team on board. Start small and stay committed, and in the long run, you can watch your cost savings soar!