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8 Steps to Run a Profitable Truck Transport Business

 


India has the second-largest street network globally, and the transport sector contributes around 6% to the country’s GDP. Despite this, the trucking industry is largely fragmented and full of small players, making it an ideal industry for creating a profit-generating business without investing a huge amount of capital.

Here are some things to keep in mind to run a profitable trucking business in India:

1. Choose a Specific Industry

The great thing about the trucking industry is that almost all other industries are dependent upon it to function. Choose any one of those industries and make it yours. Instead of starting as a generic truck transport company, become a company that moves medical equipment or a company that transports only agri-products. On the Vahak platform, you can engage in online load booking and find a variety of loads PAN-India!

2. Know Your Truck and its Properties

Choose your vehicles like you would choose a life partner! Before you start providing transport services, know everything there is to know about the trucks/lorries you like. Study and analyze their features, and see how compatible they are with your chosen industry. When it comes to finding leads on an online load booking platform, having full details of your truck is important. Instead of relying only on written features, talk to people who have used the vehicles and understand their real-world performance before making any decision.

3. Lease or Rent a Truck if You Can't Buy One

If you have the funds at hand or an easy loan you can get, buying will burn your pocket less in the long run. Most successful truck transportation services providers have their own lorries! But for a company that is just starting up, leasing can offer a safer alternative, allowing you to use those funds in other crucial areas. Do your risk-benefit analysis for both cases and choose what is correct for you, regardless of popular opinions. Once you have a lorry, you can easily secure loads on the Vahak online load booking app.

To see some of the most popular trucks purchased by Indian truckers, refer this great blog by PolicyBazaar!

4. Keep Your Paperwork Safe

India still relies heavily on paperwork for all the licensing and registration processes involved in the industry. It is important for transportation services providers in India to have documents like GST and the E-way bill if they are transporting interstate! Additionally, there are a lot of legal formalities and tax laws that need to be adhered to. If you are a novice in the industry, it can be overwhelming to do it all alone. Join online transport communities for help or hire a legal advisor if you can. Do not forget to choose a proper insurance plan as well. Before you begin online load booking on Vahak, it is important to get all your documents right!

5. Determine Your Costs

The best way to keep the customers happy and still generate consistent profits in any business is to lower the operating costs. Measure and estimate your operating costs very carefully, accounting for worst-case scenarios such as accidents and delays. You will be saving a lot of costs and time when you avail online load booking services at Vahak! Determine your fixed costs such as truck payments and permits and variable costs such as fuel consumption, toll taxes etc. Optimize for lowering your variable costs.

6. Create an Efficient Strategy

The trucking business is not just about moving stuff from point A to point B. It is about finding the best way to do so. Research the various routes available and look ..... ...... .....


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