Hauling cheap freight is always a consideration, but it just may keep you from being profitable and becoming a money-making trucking operation. Your first thought should be whether or not you have a truck payment that you must cover every month. That alone could require you to opt for cheap freight opposed to taking more time at load boards searching for better paying freight or even waiting for freight rates to improve.
As an owner/operator, you are the captain of your ship and in the end, all business decisions rest on your shoulders. Some finance service companies will defer payments for up to three or four months. That could enable you to either haul cheap freight to keep operating or park your truck while waiting for freight rates to rebound. If you choose to park your truck while waiting for better rates, you must remove the plates and let your insurance company know your plan so you can save on payments to them.
Whatever you decide must be based on knowing the per/mile cost of your current expenses. That will enable you to be aware of just how low you can accept a per/mile rate for hauling cheap freight. Knowing your monthly household expenses must also figure into your decision.
But being an owner/operator, you may want to investigate specializing to keep away from hauling cheap freight. There are specialized operators who find lucrative niche hauling. Some viable options for greatly improving earnings are hauling hazmat freight such as chemicals, fuel, and explosives. A drawback to this niche is that it requires special training and can be dangerous.
Another high paying option is pulling a tanker trailer. This choice may require you to supply the trailer, or you may sign on to a carrier which supplies trailers. Tanker transportation loads and delivers liquid freight like chemicals, oil and gas. It is another high paying specialty which requires training, physical ability, and involves a level of danger.
Consider Hauling Refrigerated Cargo
A specialization that is much easier to enter and operate is hauling temperature sensitive goods in a refrigerated trailer. We’re talking about fresh produce, fresh seafood and fish, frozen foods, and pharmaceuticals. It may require you to purchase or lease your own trailer, but doing so can increase income and may be offset by higher earnings. Some loads like greens, fresh corn on the cob and some seafood may require blowing ice over the load to preserve the goods. Such is a minor inconvenience depending on the length of your trip. The goods you haul are always available and ever in demand by consumers. Another bonus is the fact that refrigerated goods are mostly no-touch freight.
Specialization may not be for everyone, but it definitely is more lucrative. Think about it. And if you consider it, you just may improve your income and your life. Motor on and make money.