How to keep your owner-operator truck business up and running

These days, the supply vs. demand in the trucking market indicates that there are far more services and goods that need to be transported than there are owner-operator truckers available to actually transport them. Being an independent owner-operator means that you can have many opportunities with which you can maximize your profitability on a daily basis.

The majority of owner-operator guidelines and manuals are usually quite light when it comes to this particular area. You can read various impressions, such as the Status Transportation reviews, and get a glimpse of how other companies handle their business or go through the contents of this article. Its purpose is to serve as some sort of a guide for you, which will help you come up with some sound strategies, as well as improve your ROI and your compensation.

Charge trip miles on every single load

Any individual owner-operator or trucking company who is not charging round-trip miles on their outbound loads, usually leave almost 50% of their revenues on the table. If a company rents a truck and hire a truck driver, it will still have labor and fuel expenses on the return and outbound runs. Therefore, make sure to charge your clients and customers for round-trip expenses, otherwise, your business will certainly fail.

Make sure your trailer is loaded at all times

Every mile costs money, whether the truck is loaded or not. Once you have delivered a certain load, the costs of your new shipment will include the number of miles and days required to finish the next shipment. Load and shipment planning is one of the most critical aspects of any trucking business, and those who fail to properly handle it are highly unlikely to ensure profits. As an owner-operator, you need to be familiar with the importance of detailed and thorough planning. Load and shipping planning applies to both multiple and individual truck operations. Regardless of the size of your truck hauling enterprise, effective load planning should be one of your key priorities.

Maximize your revenue by combining inbound and outbound loads

A number of recent studies have shown that almost 45% of all owner-operator truck drivers crisscross the United States with partially or completely empty trucks. This is a clear indication that almost half the owner-operators in this country need to review and reconsider the efficiency of their businesses. In order to make your trucking business as profitable as possible, you must carefully look for returning loads, as well. Keep in mind that your shipping expenses include food, gas, maintenance and lodging, all of which do not simply disappear once you arrive at your outbound load destination. Remember that you will incur the exact same expenses on your return trip as well, so always try to pre-arrange a return load whenever there is a possibility.

More efficient management of return loads than outgoing loads

If you are expecting 2, 3 or more shipment in the future, make sure to plan the loads for each truck, so as to assign a load to every trailer, before reaching its destination. Try to match your loads, and determine the shortest route between two locations. Also, try to deviate as little as possible from a straight route line. Remember that every time you stray from that straight line, in order to deliver or pick something up, your expenses and rates will reflect the distance and the time you spent out of the pre-determined route.…

Proper accounting services – A key to your business’ success

The accounting tasks present a critical lifeline for any business, without which they cannot expect any success in today’s business environment. Many consider accounting as a simple number crunching game. However, it is much more than that. Experts in this field need to synchronize all the calculations and concepts with utmost precision and perfect timing. A reputable accounting firm, such as the Fortis Accountancy in Middlesbrough, is nowadays a necessity for any business endeavor, both small and large.

The accounting needs in Middlesbrough

The city of Middlesbrough is one of the largest and most advanced cities in England. It is also a large industrial town, which all kinds of business call home. For that reason, Middlesbrough is also home to a large number of successful accounting firms

Accounting outsourcing

Thanks to its experienced and skilled staff, an accounting firm can help a business in a myriad of ways. A good number of companies decide to use their own, in-house accounting experts, to handle these tasks. However, finding and hiring accounting professionals is a complex and costly affair. That is why many businesses, especially smaller ones, decide to outsource their accounting tasks to accounting firms. These firms are staffed with highly educated and experienced professionals, who can handle all the accounting activities of a particular company.

Since every business enterprise has its set of services, products, target audience and strategies, it can be said that every business has its specific set of requirements. That is why, if you run your own business, you need to look for an accounting firm that will suit your specific needs and requirements.

An important decision

Selecting an appropriate outsourcing accounting firm can be a bit confusing. However, to ensure your success, you must dedicate some time and effort in doing that. With its help, you will be able to keep pace with today’s constantly shifting market. Keep in mind that creating tax reports and bookkeeping is a very time-consuming and arduous process, which requires a lot of knowledge and skill. If handled improperly, it can cause a whole slew of problems to your endeavor.

A good accounting firm will ensure that does not happen. Spending money to hire the services of such a firm is a very sound financial decision in the long run, and can save you a lot of money in the future, by not having to pay large sums for all kinds of tax fines, etc. Also, outsourcing your accounting activities to a dedicated firm is always a cheaper option that hiring in-house accounting experts.

Financial bookkeeping

When it comes to expanding your business, you will have to know exactly where it stands on the market. And, without proper accounting, that is not possible. Here, the critical aspect is good keeping of financial records. A good accounting company is more than capable of recording your daily financial transactions and using these files so as to improve your business in some critical areas.

Finally, with the professional help of a reputable accounting firm, you and your staff will have much more time and energy to focus on other, more important aspects of your business. This way, you will be able to reap increasingly larger profits and steer your business in the right direction.…