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Nice to hear "someone" and "some companies" are making money in trucking...apparently...quite alot of it.
Who's Making Money?
Who's Making Money?
Trucking - Making Money?
- Thread starter AccountsReceivable@DRC
- Start date
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Yup ... always talking about the gross revenue. I'm guessing you're referring to Truck News ... saw something to this effect this morning.
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http://www.trucknews.com/business-m...N&utm_medium=email&utm_campaign=TN-EN05122015
The figures are US only, there's some interesting statistics there too. I'll agree with other posters for sure, revenue used to measure 'how big' an industry is can be interesting, but profit matters for long term sustainability. I'm wondering if the $700B figure including carrier revenue and 3PL revenue? If so, a bunch of the dollars are being counted twice I'd say.
Keep well,
Mike
The figures are US only, there's some interesting statistics there too. I'll agree with other posters for sure, revenue used to measure 'how big' an industry is can be interesting, but profit matters for long term sustainability. I'm wondering if the $700B figure including carrier revenue and 3PL revenue? If so, a bunch of the dollars are being counted twice I'd say.
Keep well,
Mike
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Top line is vanity, bottom line is sanity. Lots of people in this biz (both carriers and brokers) who get caught up on growth and lose sight of profit. Like brokers who hire sales reps at 60% + commission and carriers who hire owner-operators and pay them 90% of the load.
Exactly!
If I can give one piece of advice to any smaller carrier out there it is to do everything possible to own as many assets as you can. Trucks, trailers and most importantly your building.
The margins in trucking have always (past 20 years) been to thin to be considered a worthwhile investment. Sure, if all goes well you can make a half decent living and work in a business that you love. However, anyone who has ever gotten rich from trucking has probably done it through cashing out at the end and selling off assets.
If I can give one piece of advice to any smaller carrier out there it is to do everything possible to own as many assets as you can. Trucks, trailers and most importantly your building.
The margins in trucking have always (past 20 years) been to thin to be considered a worthwhile investment. Sure, if all goes well you can make a half decent living and work in a business that you love. However, anyone who has ever gotten rich from trucking has probably done it through cashing out at the end and selling off assets.
