MOTOR CARRIER PERMIT: HOW TO CONTROL YOUR BUSINESS EXPENSES

Managing a trucking company is not an easy task. Overseeing the loading and unloading process, organizing the safest routes, communicating with dispatchers monitoring, and documenting all activity associated with your company, are just a handful of the responsibilities you need to tackle.

But one of the most crucial parts is understanding and effectively managing your business expenses. Knowing how to balance and prioritize your finances is essential because if not properly managed, your company could fall victim to a financial crisis that may affect your employees. Fortunately, Global Multi Services have put together several guidelines available to aid control your business expenses and acquire helpful management tools where needed.

REGULAR MAINTENANCE

Performing maintenance service on your trucks instead of waiting until something breaks down can aid in cutting unnecessary future repair costs. Regular maintenance cost less and have proven to be more effective. Skipping maintenance services can put your truck out of commission for days or weeks. These could affect your cash flow and reduce revenue. Therefore, you need to schedule a maintenance service with a professional truck mechanic. These help to detect issues that could potentially turn into a big headache if not handled.

CREATE A BUDGET

Budgeting is the soul of every business, and it determines its failure and success. Proper budgeting helps you to allocate money to every relevant business area more appropriately. It keeps track of every penny that goes in and out of your company. Ignoring budgeting causes mismanagement, and you may end up pouring money down the drain that can affect your business. Staying on top of budgeting help you cut cost and avoid unnecessary spending while ensuring your business's success. You can also work with a professional accountant to make a profit and loss statement.

OBTAIN YOUR MOTOR CARRIER PERMIT

Motor carrier permit is mandatory for trucking companies participating in intrastate, interstate, and international commerce. It serves as proof of registration with the Department of Motor Vehicles. It also shows the trucking company has met all the requirements to operate commercially in the United States. Obtaining your motor carrier permit helps avoid penalties and fines that can affect your cash flow.

INVEST IN TMS

Handling logistical operations can sometimes be confusing and overwhelming. But, investing in a transport management system will make it easier. TMS provides detailed reporting and statistics on your business through analytical data. It helps you manage loads, simplify payroll, create invoices, and many more. TMS aids safe and timely travel that is cost-effective. It also cut the amount of time you spend on office tasks, saves money and energy.

UNDERSTAND YOUR BUSINESS NICHE

The trucking industry has a different niche, and your business niche often defines the types of trucks you will buy. Their financial rewards, competition, and availability are also separate. For example, the transportation of fresh produce and meats is relevant all year round with less competition. Dry van, on the other hand, is more competitive in the industry. Understanding the trucking industry niche helps you choose the one that works best for you.

IFTA Fuel Tax Return: How To Operate Safely In The Trucking Industry

The trucking business may sound simple to those who aren’t familiar with the trucking industry. Some believe trucking companies only load trucks and head off to their destination. However, the reality of the trucking business is a lot more complex than that. It requires planning, transporting, and safety measures. They also need to adhere to rules and regulations such as filing IFTA Fuel Tax Return.

The rules given by the Department of Transportation and the Federal Motor Carrier Safety Administration ensure safety, avoid crashes, injuries, and fatalities. These safety standards are guides in reducing trucking risks. Below, Global Multi Services take us through how to operate safely in the trucking industry.

REGULAR TRUCK MAINTENANCE

The safety of your drivers and freight starts with the truck. Trucks with no maintenance are more likely to break down on the road. So, trucking companies need to schedule regular inspections, repair, and maintenance of their fleets. These ensure the trucks are in good condition and can safely operate on public roads. 

Your mechanics can also create preventative maintenance schedules based on mileage, days, previous breakdown history, and many more. Through regular maintenance and repair services, you can ensure your trucks are in top shape so drivers can avoid breakdowns on their routes.

PRE-TRIP AND POST-TRIP INSPECTION

A pre-trip and post-trip inspection ensures the truck is safe before driving. They are also part of safety regulations required by the Department of Transportation regulations.  A thorough check of oil levels, horns, mirrors, engine health, brakes, and many more is vital to avoid breakdowns and accidents.

It always helps detect any unnoticed problem before hitting the road. Therefore, trucking companies must protect the safety of their drivers by ensuring all inspections are thoroughly done and accurately documented.

FILING IFTA FUEL TAX RETURN

Trucking companies traveling across multiple jurisdictions must obtain IFTA and file IFTA Fuel Tax Return in their base jurisdiction to operate without being penalized. IFTA is an international agreement signed between the Continental United States and the province of Canada to make fuel tax reporting easy for motor carriers participating in international and interstate commerce. Failure to file an IFTA Fuel Tax Return will result in the hefty penalty or suspension of their IFTA License.

HANDLE FREIGHT WITH UTMOST CARE

Freight can shift during transit if not loaded, secured, and balanced well. These can cause problems for the company and driver. According to reports, improperly balanced loads are one of the leading causes of death of truck drivers. Unsecured freight can push through the back door of a closed trailer, cause overturning, injury, accident, or death. So, it is crucial to ensure every single shipment is loaded carefully and well secured.

ADHERE TO HOS REGULATION

The trucking industry prioritizes safety, and it helps reduce the number of accidents that occur each year. Spending too much time on the road can be dangerous for both truck drivers and other road users. According to the Department of Transportation, truck drivers must not drive more than 11 hours per day. These help decrease driver fatigue and fewer fatigue-related accidents. 

IRP PLATES: HOW TO BOOST YOUR TRUCKING BUSINESS ?

With the vast growth in the trucking industry in the United States, it is obvious the trucking business yields a lot of profit.  But it is very challenging, just like every other business.  Trucking companies need to consistently search for new customers and stay in compliance by obtaining their IRP Plates.  The newbies in the industry also have to compete with the leading trucking companies in the industry.

Therefore, you need strategies specific to the trucking industry to continue growing your business and boost your reputation. Although it might seem time-consuming, simply utilizing these basic tactics will likely help you build your customer base. Read on as Global Multi Services takes us through how trucking companies can boost their reputation.

INCORPORATE DRIVER RETENTION PROGRAM

Driver retention is one of the key elements to a successful trucking business. According to reports, retaining truck drivers is currently one of the main challenges in the trucking industry. A recent survey also shows that more than 20% of drivers resign within three months of being hired. Also, 40% of them stop working within the first six months of employment.

Additionally, trucking companies find it difficult to employ new drivers due to the current driver shortages in the trucking industry. Hence, retaining and maintaining truck drivers can help eliminate driver shortages, delivery delays, and other problems. It also helps the company maximize profits by keeping recruitment and hiring expenses at bay. The availability of truck drivers also ensures the constant generation of revenue.

OBTAIN YOUR IRP PLATES

The ability to stay in compliance with federal and state laws will impact the success of your trucking business. By adhering to government regulations through obtaining your IRP Plate help avoid unnecessary fines and violations. It also boosts your reputation and customer satisfaction. The Federal Motor Carrier Safety Administration often changes regulations over time, but staying abreast and keeping up with the changes is possible. With the help of Global Multi-Services, you can stay informed of the changes in regulations.

PROVIDE A FRIENDLY WORKING ENVIRONMENT

Creating a better environment for your employees is one of the best ways to boost your trucking business. A comfortable and homely environment allows them to operate better and feel safe. They also work hard to improve and ensure the growth of the company. Here are points to consider when planning a healthy environment for your workers.

• Carry out surveys to figure out what’s important to them
•  Introduce salary increment programs based on work ethics.
•  Provide performance-based bonuses.

PERFORM REGULAR MAINTENANCE

Performing regular maintenance avoid experiencing potential problems in the middle of your operations and untimely freight delivery delays. Staying on top of fleet maintenance prevents your fleet from experiencing any breakdown and puts your customer satisfaction at risk. Regular maintenance allows your mechanics to inspect and spot damaged parts. Having them replaced before the condition escalates into a full-blown mechanical disaster helps you reduce unnecessary expenses.  These processes ensure your fleets are always in good condition, avoid delay or customer dissatisfaction.

MOTOR CARRIER PERMIT: CHALLENGES TRUCK DRIVERS FACE IN THE TRUCKING INDUSTRY

Truck drivers are vital in the trucking industry. They provide necessary service around the country by transporting goods for several hours or days to meet customer needs. But they face some challenges in their everyday lives at work. These include obtaining Motor Carrier Permit, Sleep Apnea, and many more.

Life on the road is not easy. It can be a lonely life and risky despite how fun it may sound. The job requires drivers to be strong both mentally and physically and capable of driving for several hours for many miles without sleeping behind the wheel. These can be very exhausting and frustrating, especially when tired.

Although the job has its benefits, it doesn’t change the challenges they face. Understanding what truck drivers are going through every day is essential, and Global Multi Services will explore some of the most common challenges they face.

PRESSURE TO MAKE DELIVERY

One of the biggest challenges truck drivers faces is to ensure they deliver the goods in perfect shape. With truck driving, even a tight turn or sudden braking can affect the freights. So, they need to pay extra attention while driving on the road to avoid such sudden moves that could put them or the goods they transport in danger.

Besides the pressure of delivering the goods in perfect shape, they also need to be delivered on time. Also, many companies set unrealistic goals in terms of delivery and timing, which makes truck drivers go the extra mile to meet those goals.

POORLY MAINTAINED TRUCK AND BAD ROAD

Poorly maintained trucks are a burden to truck drivers. They are not safe for driving and require a lot more mental effort from the driver. Bad roadways, traffic, and congestion also affect truck drivers. The potholes on the road are resurfacing and are costing truckers a lot of extra money in addition to truck operating costs such as fuel consumption, tire wear, and deterioration.

SLEEP APNEA

It is common for truck drivers to spend long periods driving. They drive for many hours, late at night, and cover a large number of miles at once. These are all factors that contribute to sleep deprivation. Truck drivers are also easily distracted, making it harder to respond quickly in pressing the brakes or changing lanes. Driving also makes them drowsy because the road is monotonous. These increase the risk of having a bad accident.

MOTOR CARRIER PERMIT REGISTRATION

The Department of Motor Vehicles requires truck drivers to obtain motor carrier permits to transport freight across various states. The MC Permit serves as proof that they have registered their carrier identification number with the Department of Motor Vehicles and have met all the requirements to operate commercially across the country. Obtaining the permits can sometimes be stressful and complicated because of the paperwork involved.

LACK OF HOME TIME

Truck drivers spend a lot of time outside their homes. They miss out on spending time with their friends and family. These can cause homesickness. But technology has made it possible for truck drivers to stay connected to family and combat the loneliness they experience while driving. Staying connected to their friends and family makes them feel closer to home.