How Can a Fuel Card Kickstart Your Success in Trucking?
by Hannah Marcom | September 3, 2018
We’re currently smack dab in the middle of a strong economy. Most trucking industry economic experts are reporting high spot market freight rates, ideal load-to-truck ratios, and a record-breaking truck driver demand. If you’re considering starting your own trucking company and finally becoming your own boss, there is no better time than now. It’s not all roses and daisies, though. Owning your own trucking company requires hard work.
Cash in On the American Dream
According to the National Association of Small Trucking Companies (NASTC), only 15% of newly formed trucking companies make it to their second year of operation. That’s not the most optimistic statistic, we know. There can be many reasons that contribute to a company going out of business. However, most are related to poor cash flow. That’s where we come in.
In the trucking industry, operating costs start stacking up long before profits. Which makes budgeting and accounting difficult. One thing is for sure, finding money-saving tools wherever and whenever possible is the key to success for just about any startup company. One easy step towards creating a successful trucking company is to use a fuel card to purchase fuel instead of cash or a credit card.
Benefits of Using a Fuel Card
First and foremost, using a fuel card will save your trucking company money. No matter what fuel location you choose, Apex Fuel Card clients always pay the cash price for fuel, which is typically $0.05-0.06 cheaper per gallon than the credit price. So, with very little effort they’re saving money just by using a fuel card to purchase their fuel. In addition to never having to pay the credit price for fuel, Apex clients receive bigger and better fuel discounts at in-network truck stops nationwide. We’re talking about an average of $0.33* a gallon off at in-network locations with no transaction fees. That’s pure savings. Add that up and you have an average of $3,000 in savings per truck annually. Imagine what you could do with an extra $3,000 in your pocket each year! *Average savings of 33/gallon is based on actual In-Network TCS client transactions for all of 2019.
While saving money is probably the biggest benefit of using a fuel card, there are extra tools and services, too. With the Apex Fuel Card, you can control your costs by customizing what can be purchased using the card and set dollar amount limits for you and your drivers. Each quarter you won’t have to struggle to gather receipts or banking statements to file your International Fuel Tax Agreement (IFTA) reports. Instead, all your fuel purchases can be found in one report created to make IFTA reporting easy.
Fuel is just one piece of running a trucking company. We can help make it easy so you’ll have more time to focus on carving out your legacy of owning a successful trucking company.
Are you ready to start saving thousands on fuel each year? Do you want to start your own trucking company and become your own boss? Are you currently struggling with cash flow? We can help! Discover the Apex difference by calling 844-827-4524 or get started today here!