If you are looking to improve your trucking business profit margins, here are a few ways to help cut down on costs. 

The first step is to be aware and monitor your cost by mile. This is one of the most important ways to track your overall expenses. This number can be used as a tool to help understand your company’s financial position so that you can work on maintaining or even improving it. 

While fuel is necessary to keep your fleet running, it is one of the biggest expenses for trucking companies. The good news is, there are ways to save on gas and the easiest way to do so is to take advantage of fuel cards when it’s time to fuel up. Using these will help you receive fuel discounts and other benefits through loyalty rewards. 

Saving money while buying gas is important, but it’s also crucial to minimize the use of it when possible. One way to reduce waste is to avoid idling. When a driver idles for an extended period of time, the truck is burning more gas than you may think, driving up those costs. 

Another step you can take is to invest in preventative maintenance. A major source of unexpected costs come from repairs and replacements. These costs are usually expensive and can add up quickly. Maintenance prevention includes routine checks such as monitoring fluids, replacing filters, and tire checks to help avoid your trucks breaking down, which will minimize costs. 

This Article was Written by  Stewart Hudspeth, Commercial Lines Insurance Advisor at Advisors Insurance Agency