Running your own lorry transportation business

by Groshan Fabiola I try to cover as many topics as I can

Freight trucking is the lifeblood of the supply chain. Instead of investing in their own fleet of vehicles, big and small enterprises utilize trucking companies so as to save time and money. Competition is fierce in the lorry transportation business. There are many heavy goods vehicle drivers who have tried to penetrate the market and have failed miserably. However, this doesn’t mean that it’s impossible to be successful. Running your own lorry transportation business offers you a great deal of freedom, not to mention money. The outcome depends on you. Managing a successful company takes more than knowing how to drive a HGV. Make sure to follow these steps.

Get insurance for your vehicles

So, you offer trucking services. Having insurance is a must, no matter if you’re a small business or a big corporation. Doing business is risky, which is the reason why you need liability coverage. Protect yourself from the risk of liabilities imposed by lawsuits by taking out insurance. Looking for insurance for your vehicles can be challenging. The type of heavy goods vehicles that you’re carrying ultimately determines that type of coverage that you’ll be needing. you deliver other people’s good for a living. Get haulage insurance. Coverage of this kind protects the carriage of goods. Determine if you want basic coverage or specialized coverage. Basic coverage covers the costs associated with accidents and damage to your vehicles. On the other hand, specialized insurance covers the loss of the cargo too.

Obtain the best customers

Maybe you’ve been using online matching systems. There is nothing wrong with that. Many people use them. However, online matching systems don’t guarantee long-term relationships. If you want your lorry transportation business to flourish, get your hands on the best customers there are. Looking for new clients is probably the last thing you want to do right now, but you don’t have a choice. Start with making sales calls. Call prospective clients unexpectedly and give them a sales pitch. It’s recommendable to make a specific list. The more specific your list is, the better chances you have of getting through to people. The most profitable customers are clients are the ones that return time and time again to purchase the service.

Invest in safety technology

One of the most important aspects of running a transport business is making sure that your drivers are safe. Truck drivers, in particular, are exposed to many dangers. They are paid by the mile, so chauffeurs often choose productivity over safety. Installing HGV safety technology like a video recording camera is a good idea. Video in transportation is recorded in real time. You’ll be able to know what your lorry truck drivers are up to while on the road. Driver behaviour shouldn’t be punished. Far from it. have a talk with the chauffeurs and explain to them that it’s not okay to work dangerously long hours.

Experts at Traffic Angel recommend investing in automotive safety sensors. Systems of this kind ensure audio-video warning, so the driver knows if cyclists, pedestrians or other obstacles are present. An Led light changes colour the moment that there is an intrusion in the blind zone. Hazard occur in a matter of seconds, which explains why it’s necessary to have automotive safety sensors. It’s best to avoid things like frontal, side, and rear collisions. There are many other technologies that can be fitted to your heavy goods vehicles. Do some research of your own.

Pay your employees on time

As an employer, you’ll want to make sure to pay your workers on time. You depend on reliable HGV drivers to keep the business running, so you too need to be dependable. This translates into paying your employees on time, every single time. It’s paramount to adhere to a regular pay schedule and respect it. If you fail to do so, you could possibly face legal repercussions. What you should care most about is the employee-employer relationship. When you have a strong relationship with the lorry truck drivers the entire business benefits. If you can’t pay the workers more, at least give them more time off. According to studies, even the most dedicated of employees look forward to escaping on a vacation. Just think about it.

Maintain a healthy cash flow

Cash flow transforms into payment for things that keep your lorry transportation business running, such as expenses and salaries. It’s up to you to maintain a healthy cash flow. Don’t underestimate the importance of maintaining a positive cash flow. But how are you supposed to do that? Here are two suggestions:

· Use up-to-date technology – if you’re not efficient, then you won’t be profitable. It’s best to use modern technology. Logging devices are just an example of how you can increase the efficiency of the transport business.

· Factor freight bills – freight bill factoring allows you to finance slow-paying bills. The moment that you haul a load, send the freight bill to the company and you’ll receive cash payment right away.