Picking the right trucking market is essential to trucking business owners for the survival of their business. Therefore, it becomes an important decision that requires careful consideration and professional advice. Like all the other industries, the trucking industry was also affected by the pandemic in 2020. Spot load market increased from an average of about 12 to 15 percent and rose to an approximate percentage of 23. Call our Atlanta trucking consultants for advice when picking the right market gap for your business. Picking the wrong market increases the chances of your business struggling early on.
Here is a guide on how to select the right market:
This is a tough market to enter. Going the dry van route can cause significant challenges for you. The main benefit of a dry van is that it is flexible and there are low barriers to entry for new participants. However, it also faces a lot of competition from owners with huge resources and other new operators. Increased competition will mean that you will experience challenges securing direct shippers, who eventually become regular customers. You will have to stick with load boards and brokers.
Investing in a market where your competitors avoid maybe a space you could enter. This will be beneficial provided that you can manage the complexities that make large carriers prefer other markets apart from specialized loads. This is an open opportunity for you as specialized loads have a wide-open market for new participants and small fleets. Location and the permits you have will determine the range of specialized loads you are allowed to handle. These permits include the drivers’ experience and skills. You will never lack a market for this type of load.
Fresh Refrigerated Loads
Consider the following if it is your first time starting your own trucking business. The produce and meat industries are some of the easiest and fastest industries to support. The main advantages of these types of loads include consistency. This means that it is possible to get regular shipping orders from one shipper because fresh produce and meat is transported regularly. Shippers are easier to find as you could opt to approach wholesalers directly letting them know about your reliable transportation services. Overall, it pays well to transport such loads and people gotta eat. Therefore, it is harder to lose business during a recession.
Other Specialized Loads
There are other options to choose from as a new operator in the trucking business. They include cattle and livestock, flatbeds, and tankers. Flatbeds are profitable although large carriers avoid them. The suitability of transporting cattle and livestock will depend on the location of your business.
Work With A Trucking Consultant
There is a myriad of markets you can choose from as a new owner starting a trucking business. The most ideal thing to do before you start your business is to speak to a professional business consultant for advice when starting and running your trucking business to minimize the chances of failing before making profits. Schedule an appointment online or call our offices directly at 770-874-9951 to choose your trucking package and get started.