The Trucking Industry produces over $155.4 billion dollars in gross revenue annually and has long been viewed as a staple in the United States economy. With so much of the nation’s goods and products being shipped from state to state the need for companies with the ability to adequately transport them continues to be of the utmost importance. Wise Business Plans has helped hundreds of trucking companies secure funds for trucks, trailers, and equipment through their business plan writing services.
“Even with the price of fuel becoming an issue, the need for trucking entities with the ability to satisfy the demands of the market still exits”, says Joe Ferriolo Director of Wise Business Plans. “The margins for trucking companies may have dipped over the course of the last five to seven years due to rising fuel costs. But what we have noticed is that these companies are incredibly resilient and have in some areas, restructured their business models to regain the financial position they held before fuel prices began to climb”, says Ferriolo.
Whether it’s the long-freight trucking segment or local freight trucking segment, the industry as a whole has a strong outlook. Research conducted via IBISworld.com shows that they are projected to realize a 4% growth rate from 2012 to 2017. “This is significant when you consider the fact that the industry is extremely cost sensitive. To have this type of a projected growth rate speaks positively about the United States economy as a whole”, says Ferriolo. All business plans for the Trucking Industry developed by Wise Business Plans are filled with real-time information that places the client in the best possible position to succeed. Trucking business plans created by Wise Business Plans include the following:
- Key Success Factors: “The keys to success have changed dramatically over the course of the last five years. What may have worked in the past does not necessarily apply in this new environment”, says Mr. Ferriolo. With that being said Wise Business Plans uses real time information to give the client an accurate view of the industry and develops key success factors based on these and a number of internal operations factors.
- Industry Analysis: A thorough industry analysis is needed for an industry that is evolving as rapidly as trucking. “There are no innovations that allow individuals and companies to operate in a much more efficient manner. These things were simply not available in years past. It’s our job to make the client abreast of them and how they impact the industry and their ability to effectively compete”, says Mr. Ferriolo.
- Financials: “Proper financials with accurate projections are extremely important in the Trucking Industry. With the business being so cost sensitive and profits being based on the fluctuations of fuel, having sound financials in place is a must”, says Mr. Ferriolo. The professionals at Wise Business Plans are adept at developing financials that give the client an accurate view of their current and long-term financial standing.
The Trucking Industry remains a staple of the United States economy and becomes more and more important with each passing year. When the time comes to develop a business plan for your organization, let the professionals at Wise Business Plans manage all of your needs.
About Wise Business Plans
Wise Business Plans is national business plan writing company committed to helping truckers write winning business plans. The firm is focused on helping trucking companies raise capital and grow their business. To learn more, visit https://wisebusinessplans.com or call 1-800-496-1056 to schedule a consultation.