New Authority Blog
For new trucking company owners, the ramp-up work doesn’t stop once you’ve paid all your startup fees and you have your operating authority. Now it’s time to find yourself drivers. You may certainly decide to be your own company’s driver, in which case you would be a one-person operation. But if you choose to hire truckers to haul your loads, you have decisions to make that go beyond merely seeking a trustworthy driver who can safely transport the goods. Are you looking for an owner-operator, independent contractor, or a company driver? What’s the difference? Why does it matter? Well, let us help you decide and explain what you need to know. So that come tax time you’ll understand what makes them a 1099 or a W-2 employee.
Truckers need to get paid fast after hauling loads. Steady cash flow is crucial to keep a small to medium-sized trucking company in business. The steadier the cash flow, the better the chances for success. Yet most carriers are lucky if they get paid in 30 days for hauling a load. That’s just the nature of the trucking industry. Luckily, today truckers do have a choice. The new blynk™ digital payment system for Apex Capital factoring clients gets trucking companies paid quicker than quick after their freight invoices are purchased. No other factoring company offers this type of payment, so no one pays you FASTER – guaranteed!
In the middle of a national pandemic, we all switch to survival mode. We wear masks. We practice social distancing. We make keeping ourselves and our loved ones safe the number-one priority. Truck drivers don’t have the working-from-home luxury during this national health crisis. And a trucking company’s survival depends on delivering the goods that we use daily. But during a national pandemic, those goods may not be moving as quickly and plentifully as usual. So, how can trucking companies keep their businesses going?
When you run any business, especially a trucking company, you spend money to make money. Running a trucking company and managing a fleet, whether it’s one truck or 100, comes with fixed and variable expenses. Planning and budgeting are key, but so is knowing when to save and when to spend.
How Your Trucking Company Can Survive Economic Shifts All industries experience peaks and valleys. That’s the nature of business. One year you’re red hot making money, and the next year you’re cool blue breaking even. The trucking industry isn’t immune…
Truck parking is a national issue with an estimated 90% of the 3.5 million truck drivers in the US experiencing problems finding designated spaces. According to a study from the US Department of Transportation Federal Highway Administration, “existing demand for truck parking spaces outstripped the available supply.” In other words, there are way more trucks on the road than there are truck parking spaces.
Money, cash, bills, notes, or capital. Call it whatever you want, the cold hard truth is that we all need it. Cash flow keeps the doors of your trucking company open and the freight moving. Cash flow problems are common in the trucking industry, so what are the biggest causes affecting trucking companies? As a freight factoring company, we’ve helped trucking companies solve cash flow problems for nearly 25 years, so let us share some of the biggest causes and give you options to help avoid or solve them.
You’re a good company driver with a solid two-year record of dependability and over-the-road excellence. You’re also the type of person that can’t help but stare lovingly at the truck on the next lane, the one with the 7-car carrier and the neatly stacked array of shiny, colorful vehicles. Well, then you’ve come to the right place. Do you dream of owning your own car hauling business? As a trucker with valuable experience in your back pocket, that dream could certainly be a reality. You already have an advantage from your years of safe driving. And we’re here to help you make that dream come true. So, we put together a checklist that leads you to owning your car hauling company.
Commerical truck insurance is one of the top 3 largest expenses for all trucking companies – whether they are seasoned or startups. Don’t have it? Well, you don’t run legally. Period. But there is a lot of misinformation regarding commercial truck insurance, especially when it comes to planning and pricing. We talked with trucking insurance experts John Mondics, President, and Jonathan Mondics, Vice President, of Plano, Texas-based Mondics Insurance Group, for a two-part series answering top-of-mind questions about factors that affect commercial truck insurance rates.
Whether you have been in business for years or you are a startup company, you know that trucking insurance is one of the top 3 largest expenses. Like fuel and maintenance, it’s a necessity. You don’t run legally without it. But there is a lot of misinformation regarding trucking insurance, especially when it comes to the planning for insurance and, of course, the pricing of insurance. So, we decided to lighten the load on the heavy topic. With the help of trucking insurance experts John Mondics, President, and Jonathan Mondics, Vice President, of Plano, Texas-based Mondics Insurance Group, we put together a two-part series answering top-of-mind questions about factors that affect commercial truck insurance rates. Part one focuses on the planning stage, the ramp-up to getting a quote and securing insurance.