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Increase Profits Using Transportation Factoring

White truck on the road in a rural landscapeLooking for a way to increase sales leads for your transportation business? It’s easier than you might think.

Finding & Closing Viable Transportation Leads

To increase your transportation business’s sales leads, it is crucial to assess what you’re looking for. To find out exactly where and who you are looking to find sales leads, as yourself consider the following.

What Can My Equipment Handle

Although you may want all of the sales leads possible, it is important to consider what your business and its equipment can truly handle. For example, if you’re running a local shipping company, you wouldn’t take on a major haul across the country because your cars can’t handle the load.

When looking for sales leads, it’s important to consider just how much your load can handle. When you promise something that your business cannot deliver, it only tarnishes your business’s reputation.

Assess Current Shipping Lanes That Don’t Have Backhauls

If you have a big shipment going across the county without a back haul, it’s time to make a move. An empty truck isn’t bringing your business any profits, so it’s time to start filling it up. Your trucks should be full at all times to fully maximize every shipment.

To always have a full tuck, plan shipments strategically. Look for leads along the way that you can reasonably fulfill. Start making calls while your truckers are out so they can give your customers fast and attentive service.

Reconsider Current Marketing Regions

In any business, you have to constantly challenge yourself and your plans to ensure that your growth is going in the right direction. Take a look at your past marketing habits and assess whether or not to keep marketing in these regions or discontinue service there.

In some cases, regions have trends. If you’re not having the success you used to have in a particular region’s, it’s time to consider moving on to somewhere different. With new regions comes new leads.

Utilize Transportation Factoring To Have Fast Turnaround Pay

In the transportation business, you’re always waiting for payments from your customers. In some cases you can wait up to 30, 60, or even 90 days to receive payments, which can kill your business’s cash flow. By utilizing transportation invoice factoring, you will be able to get immediate cash for each and every job you take on. With transportation invoice factoring, a factoring company will step in and purchase your outstanding invoices to advance you up to 96% of its total with low rates. This will allow you to build a strong source of working capital for your business to:

  • Market in new areas
  • Expand fleets
  • Bid on more jobs
  • Update equipment, and more

With a strong source of capital attached to your business, the possibilities are truly endless.

There are a vast number of sales lead sources that your transportation can take advantage of for growth. After assessing the four topics above, you will be able to effectively narrow down your search and focus your research on potential clients that your business can actually use.

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About the Author:

Robert Bernfeld started in the commercial finance industry in 1974. His early years included positions with Aetna Business Credit and Foothill Group. During the next thirty five years. Mr. Bernfeld established both equipment leasing and accounts receivable factoring companies. He partnered in founding Business Facilitators, Inc. in 1999. Mr Bernfeld graduated from the University of California, Riverside in 1974 and received his Juris Doctorate from Loyola University School of Law in 1977.

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