Competing with large fleet companies can be overwhelming. Obtaining market share from larger fleet companies can be difficult when they receive supplier discount, use aggressive pricing and leverage their fleet to deliver goods faster.
There are many ways in which you grow your transportation business, below are four ways.
- Focus on providing the best possible service to existing customers
It is easier for a smaller transportation company to leverage on customer retention, than it is for larger transportation companies. A smaller transportation company is hungrier, more nimble and have fewer clients, providing opportunity for long-term customer relations. Clients are willing to pay a bit more when they receive exceptional service.
- Know what is required to grow your transportation business
Examine your current business operations, identify objectives and resources required to grow your business. Look at your expenses versus income required to earn a profit. The profit can be used to invest back into the business through, purchasing of top-quality first or second-hand trucks and taking drivers to advance driving courses.
As a small transporting company, it can be stressful to manage your whole fleet with limited human capital. Globaltrack’s Cross Border and Fuel Management Solution can help you effectively manage the performance of your fleet, whilst adding safety and real-time delivery to your clients’ shipment.
- Consider registering your transportation business with a freight board or association
Look for services such as Loads Hub that specialise in connecting freight carriers with freight holders. One of the advantages are access to available loads country wide, saving you time to finding extra business.
- Stabilise your cash flow and maximise on your capital
As a small transportation company, you may need immediate cash to cover fuel costs and pay your drivers. Consider building a contingency budget, so that you are still able to cover your operational costs, during tough economic times or unfortunate events. Ensure that you do not put your business in a lot of debt, rather own less vehicles and gradually expand your fleet in line with the market demand and the success of the business.
There are many ways in which you can grow your fleet, put all the information you gather to effective use.