The Road to Expansion: How and Why to Grow Your Trucking Fleet

Identify the Need

 

 

Understanding the Current Market

Diverification as a Growth Strategy

  • Access to New Markets:. By handling different types of freight, you can cater to a wider range of customers, from local businesses needing quick deliveries to larger companies requiring specialized cargo handling.
  • Reduced Risk Diversification spreads your operational risks. If one market segment experiences a downturn, your business is not entirely vulnerable because you have other types of freight services to rely on.
  • Increased Revenue Opportunities: Different freight types can command different rates. For example, specialized or urgent delivery services often have higher rates compared to standard freight services.
  • Adaptability: Diversifying your services makes your business more adaptable to changing market conditions. You can shift focus between different freight types based on demand, seasonality, and profitability.

Simple Strategies for Diversification

  • Exploring Local Opportunities Start by exploring opportunities within your existing routes. Are there businesses along your routes that might need different types of delivery services?
  • Building Relationships with New Clients: Networking with potential clients outside your usual customer base can open doors to new types of freight jobs. Networking with other truckers might lead to finding the perfect partner.
  • Take Baby Steps. Start off small with one additional truck. Invest in a decent used one that won’t break your bank. Several of BLF’s clients (including our largest) added a few box trucks to their tractor fleet because the entry (and risk) was lower. These clients have been better positioned to handle all the drama from the last few years and are still growing.

Think Outside the Box

 

Current Trucking TypeAdditional Freight TypesDescription
FlatbedCar TransportUsing flatbeds to transport vehicles such as cars, often requiring additional securing equipment.
ReeferDry Goods TransportUtilizing reefers for dry goods when not transporting temperature-sensitive cargo, offering flexibility.
Box TruckMoving ServicesLeveraging box trucks for local moving services, catering to residential and small business needs
TankerLiquid and Dry Bulk TransportUsing tankers for both liquid and dry bulk materials, suitable for a variety of industries.
Dump TruckConstruction Material TransportExpanding services to include transport of construction materials, leveraging the dump truck’s capabilities.
HaulerHeavy Equipment TransportUtilizing haulers for transporting heavy equipment like construction machinery, requiring proper rigging and securing.

Conclusion

 

Scroll to Top