What Type of Trucking is Most Profitable?
The profitability of a trucking business depends on a variety of factors. These include variable and fixed costs. You can read more about the different types of trucking below. Among these are Long haul trucking, dry van trucking, shared truckload, and oversize load hauling. Each type of trucking has its own unique benefits and disadvantages. The most profitable trucking businesses often combine fixed and variable costs to achieve a greater level of profitability.
Long haul trucking
Long haul trucking is one of the most profitable ways to make money. However, it is not without its challenges. For starters, the trucking industry is very fragmented. It is dominated by independent owners-operators and smaller fleets with fewer than six trucks. The shippers and freight brokers are also highly fragmented. This fragmentation has led to intense competition and plummeting rates for truckers. By the early 1980s, the industry was in a state of turmoil. Drivers’ wages were cut and employers were forced to reduce costs. At the same time, bigger and more sophisticated shippers demanded that freight be moved further.
As a long haul trucker, you’ll be away from home for long periods of time. Although some truckers come home on weekends, the majority of drivers spend weeks or even months on the road. This means that truckers will miss family time, holidays, and special occasions.
Oversize load hauling
Oversized loads are items that are too large to fit onto standard truck trailers. Federal regulations dictate the maximum legal dimensions for such loads. These shipments require drivers to have special equipment and follow strict regulations. Drivers may also be required to hire an escort crew. These loads can be very lucrative because drivers earn more than other types of freight.
This type of trucking is more difficult than other types, so drivers must have extra training and certifications to be successful. However, if you are willing to put in the time, this type of trucking can pay off in the long run. Average pay is $54,000, and some drivers earn more than a six-figure income. It is not recommended for new drivers, but it is a great choice for those who are hard-working and want to earn high wages.
The biggest challenge in oversized load hauling is handling the size of the load. This type of load is much larger than the average truck trailer, and requires additional equipment and drivers. However, it does come with a few perks. Besides the extra money, oversized loads are more difficult to handle, so drivers should take extra care while handling them.
Dry van trucking
One of the best ways to make money in trucking is to drive a dry van. These trucks are easy to load and unload, and their features help expedite the shipping process. For instance, they offer side and back doors, which make it easier for your customers to access your cargo.
Drivers who work in dry vans haul non-perishable goods. The most common size of a dry van is 53′ x 8′ 6″. These trailers can be made of composite materials, such as aluminum. The trailers are also usually equipped with a hardwood floor. Drivers of these trucks typically earn about 8 cents per mile more than those in other trucking types. In addition, drivers in this type of trucking often receive a Hazmat endorsement.
Flatbed trucking is another lucrative type of trucking. Drivers in this type of trucking are responsible for hauling different types of cargo, such as oversized items and large machinery. In addition, flatbed jobs require more precise loading and maneuvering than those in dry van jobs. Flatbed trucking jobs are a good way to make extra money because the trucking industry is facing a nationwide shortage of drivers. This is especially true of specialty trucking jobs, such as flatbed transport.
Shared truckload
Shared truckload is an efficient trucking business model that pools freight from multiple shippers to maximize profits. By sharing deck space with other shippers, shared truckloads can save truck space and time, and improve efficiency. Additionally, this solution prevents long dwell times, which can lower revenue. This method has many benefits for both shippers and carriers.
This mode offers the highest profit potential because it provides the most efficient service to shippers. Using shared truckload means drivers can focus on overall load shipment density, which is vital in avoiding higher rates. In addition, it helps reduce the overall environmental impact of the trucking industry.
Sharing truckloads also save space and reduce carbon emissions. This innovative shipping solution helps meet the needs of businesses without saturating the earth’s resources. It also eliminates the need for hub-and-spoke structures and reshipping. It is the only trucking mode that reduces carbon footprint.
