The trucker market is at an all-time-high. Due to truckers’ increased demand, there is time to capitalize on the industry. Thus, independent owner-operators can reap the benefits. Along with new technology, being a trucker now means more flexibility, control and access of loads.
As the industry keeps climbing, truckers climb with it. Due to the trucking shortage, drivers are being offered contracts or increased pay to entice and keep drivers driving. Although, trucking does have a high turnover rate, from an intensive lifestyle.
This existing market for drivers is highly competitive. The roaring rates, increased profits and intense competition are steadily rising. With e-commerce contributing to the growing industry, and people constantly more reliant on e-commerce, all signs point to truckers’ demand increasing even more!
Taking advantage of the shortage.
Firstly, employed truckers most likely aren’t getting as much of their business’ profit as they would like. Currently, independent owner-operators have the upper-hand. This is no longer a shippers market, and independent truck drivers can take advantage of that. More truck capacity, while keeping costs in check, means independent drivers can provide a more light-footed approach by adjusting to constantly changing shipper needs and speed up deliveries.
Next, it is in a trucker’s best interest to take advantage of the new technology. New transportation tech offers independent drivers access to large shipping companies in need of delivery without a middle-man. In the past, truckers couldn’t connect directly with shippers due to a lack of record keeping of driver data. Now, there are technological solutions that manage driver information. Technology can also make the transition to becoming an independent
Lastly, it is important that truck drivers keep market conditions in mind. Truck drivers working for large carriers should consider self-employment. Likewise, already independent drivers should consider expanding their one truck to multiple trucks.
This is the best time to be a truck driver in over 30 years. It’s time to take advantage of it.