Fuel your business with cash flow

Covering the expenses and operating costs of your business can dictate your financial flexibility when making a living on the road. Trucking can be unpredictable; that’s why you need to make sure you have the resources to keep moving forward. You need to have a solid financial business plan to make sure that your business can survive any unforeseen expenses.

When developing your business plan, be sure to factor the costs into the following items. Don’t let late fuel costs or insurance payments run your business. You can stay ahead of the game by working with a reputable factoring company to maintain constant cash flow.

It becomes possible to effectively cover costs when you get paid at a reasonable time for the charges you incur and can count on constant cash flow.

1. Unexpected expenses

Variable costs and unforeseen expenses can put your cash flow to the test. They can be related to unexpected equipment repairs, delays in the supply chain, or market fluctuations that affect your operations. Planning for these setbacks requires an emergency fund to make sure you are able to handle whatever comes your way.

Consider working with a factoring company that does not require a minimum amount of factored charges, so you can choose which clients you consider and decide how much of your weekly income should be allocated to your emergency fund. .

2. Fuel costs

In 2019 alone, 45.6 billion gallons of fuel were consumed by truckers. Fuel is a large expense for which you must allocate funds. The right factoring company does more than provide cash flow, and they have the resources to help relieve the stress of fuel expenses. Taking advantage of their fuel discounts that often come with fuel cards can help you save more with every gallon. They can also provide fuel advances, so you can make sure you have the funds to deliver your cargo on time.

The Capital Fuel Card comes with fuel discounts that will save carriers the money they need to move America forward:

  • Save an average of 20 ¢ per gallon at discount locations.
  • Accepted in over 8,000 truck stops nationwide.
  • Line of credit and prepaid options available.

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