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Recourse vs. Non-Recourse Factoring

Factoring written on a notebook.

Invoice factoring is the practice of “selling” your invoices, or accounts receivables, to a company that then pays you right away for that invoice, minus a fee. This helps you increase cash flow to pay bills, finance operations, take on new business, and handle business expenses as they come up. Factoring companies may also handle

10 Steps to Create a Trucking Business Plan

How to create a trucking business plan

In his book Bounce Back: Survive and Thrive in a Business Crisis, author and long-time business broker Richard Mowrey advises: “Never operate your business without a written business plan.” If you have your own trucking business, even as an independent owner-operator, you need a business plan just like any other small business. If you’re like

17 Steps to Start a Hotshot Trucking Business

Hot shot load

What is hotshot trucking? At its simplest, hotshot trucking means hauling smaller (less-than-truckload or LTL) loads. They are often time-sensitive and usually delivered to a single destination. For example, suppose a construction company needs a specific piece of equipment delivered from one job site to another. In that case, they will often “hotshot” it, hiring

8 Ways to Get More Owner-Operator Loads

Truckstop.com user checking the load board on their phone.

One of the most important parts of being a successful owner-operator is getting a steady flow of loads. But as many as 400,000 owner-operators are driving on America’s roads. Figuring out how you’ll compete for owner-operator loads can significantly impact how much you can earn regularly, and it isn’t always easy. Find your next load

6 Steps to Get a Freight Broker License

Freight Broker Business Plan

If you want to act as a freight broker, matching goods that need to be shipped with trucking companies that do the shipping, you will need a freight broker license, or a load broker license. Freight brokers are regulated by the Federal Motor Carrier Safety Administration (FMCSA), and the requirements can be confusing. We’ve put

12 Factors That Influence Freight Shipping Costs

freight shipping costs

In an industry so large, you might think there would be a freight shipping cost standard. But there isn’t one. Because freight shipping costs depend on so many factors, getting an accurate freight shipping estimate is surprisingly complicated. Part of it is the regional nature of shipping. Some carriers serve specific regions or shipping lanes