Are you an owner-operator looking to increase your business revenue?

In the United States alone, there are nearly two million owner-operators. If you are one of them, you know how important it is to be profitable. After all, if you’re going to be providing your own truck and paying for your own fuel, repairs, and maintenance, you need to make enough money to cover those costs and still have a little left over at the end of each day.

The good news is that there are several ways to increase your revenues as an owner-operator trucker. Here are some tips:

Know The Numbers

Every trucker needs to know the numbers that matter most:

• Fuel prices

• Axle weights

• Tire costs

• The price of diesel fuel.

You should also know how much it costs you to maintain your truck and trailer, including repairs and maintenance. Additionally, don’t forget insurance premiums, registration fees and tolls.

By knowing these numbers, you can figure out how much money you need to make each month just to break even on your equipment costs. That way, you won’t get into trouble if fuel prices go up or down unexpectedly.

Know what freight is available in your area of operation. If you’re looking for work in a particular area or region, find out what types of freight are available there — and how much they pay per mile or ton mile — before you start driving yourself crazy trying to find something that pays well but isn’t there.

Find out who is buying what type of freight in your area before — A dispatching service can assist with this, but we will talk about them later.

Be professional

First Impressions Are Everything: This may seem like common sense but it is very important! If your truck looks dirty or worn out, it will reflect poorly on your company and hurt your chances of getting good clients.

Make sure that all your equipment is clean and well maintained, so that potential clients will be impressed by the first impression they get from you.

Get a Professional Looking Business Card: A professional looking business card will help you in getting jobs easier. You can use it while meeting with potential clients or customers who are looking for a driver like yourself. Make sure that everything is written on the card clearly so that they can easily understand what you are offering them.

Consider Getting a Website: Having your own website would allow customers to find out about the services that you offer as well as contact information such as phone numbers, email addresses etc.

Sign Up for a Truck Dispatching Service

Dispatchers can be very helpful, especially for owner-operators who have their own trucks. One huge benefit is that you can use these dispatchers to find loads and get paid faster.

They can provide information about where there are jobs available, what kind of freight is being hauled, and how much the freight is paying per mile or per load. Dispatchers also know which companies pay on time and which ones don't. This information is vital in helping you decide where to take your loads.

The best part is that some of these services will even help you find local customers who need your services in your area so that you can make more money by doing local jobs in addition to long distance hauling jobs.

Good Record Keeping & Finances

Use an online account management software such as QuickBooks or Xero to manage your finances. This is more efficient and saves time on accounting tasks such as billing clients, paying bills, recording mileage etc.

For example, Quickbooks has an automatic mileage tracker that could provide automatic GPS tracking, with detailed mileage reports. This leads us into our fifth point of technology...

Efficient Use of Technology

Use GPS Tracking System: If you want to increase your revenue even further, then implementing a GPS tracking system on each of your trucks. This will allow you to see how much distance each truck has traveled thus far during each trip as well as how much fuel has been used.

Use a Telematics System: Using this in your truck will allow you to log every mile driven and ensure that you are not being overworked by your dispatchers or company management team.

This will help keep everyone happy and avoid unnecessary conflicts between drivers and dispatchers over miles driven per shift or day offs taken during peak times of demand for services (such as during the holiday season).

Consider Additional Equipment: For example, you might get an extra refrigeration unit or trailer that will allow you to pick up additional loads during peak times.

Choose the right Electronic Logging Device (ELD) solution: An ELD solution is mandatory by Federal Motor Carrier Safety Administration (FMCSA) and helps drivers stay fully compliant to satisfy all federal mandates. A good ELD solution will:

• Eliminate handwritten logs and paperwork.

• Provide quick and accurate reports for road inspection.

• Monitor and track driver’s hours of service and driving behavior.

• Monitor driving speeds.

• Manage routing and maintenance schedules.

• Anticipate critical violations and provide timely warnings.

• Provide a GPS system to track your vehicle in real time and better manage your fleet.

For more information visit the FMCSA’s ELD home page, or view their list of registered, self-certified ELDs.

Offer Services to Your Customers

A lot of owner-operators don't realize that they can make more money by offering service to their customers, such as loading and unloading their trailers at no charge or only charging a small fee or offering storage services when they aren't hauling freight themselves. By offering these services, you will make more money without spending any more time than normal.

Be Aware of Possible Tax Deductions

Make sure to keep careful records of all expenses related to your business so that they are easy to verify when preparing your taxes for self-employment income. The IRS has strict rules about what can and cannot be deducted on Schedule C (Form 1040) as opposed to Schedule A (Form 1040).

We are not tax professionals, so be sure to consult a tax professional before claiming any deductions or credits.

We hope that you found this information helpful and that it helps you to contribute more to your businesses and will put more money in your pockets. If you have any questions, please feel free to contact us at BNB Logistics & Dispatch Services.

Email: bnblogisticsdispatch@gmail.com
Phone: (631) 334-7032
Deer Park, NY