Finding discounted fuel (62.3%) and insurance (55.2%), along with support finding and booking high-quality loads (63.4%) remain the Top 3 challenges today’s independent trucking businesses face, according to a study from SmartHop.
“In the last two years, truckers have experienced amazing spot market rates, which meant better profits and margins. But now as we enter into a market downturn coupled with increased fuel prices, owner-operators and small fleets need more support than ever,” says Guillermo Garcia, CEO and co-founder of SmartHop. “As champions of independent truckers and carriers, SmartHop set out to understand what’s plaguing the trucking industry’s most critical segment and where we can help improve their topline and margins so they can better compete with their larger peers.”
From Yahoo! Finance:
- 43.5% of respondents have been on the job for two years or fewer, indicating they entered the industry during the pandemic when many Americans reassessed their career paths. More than one-third of all respondents joined the profession because of the pay (35.3%) and over one-quarter (26.7%) cited a love for the open road.
- Retaining Commercial Driver’s License (CDL) holders remains a challenge. Half of all respondents (50.4%) said they had considered quitting in the last six months — with male drivers (52.2%) slightly more apt to quit than women (47.9%) because of long and irregular work hours (65.1%), lack of stability from a fluctuating spot market (64.1%) and burnout from higher pressure and supply chain demands (63.7%).
- Across all three segments of drivers surveyed — small carriers, company drivers and owner-operators — the Top 3 benefits trucking tech and apps have provided include more visibility into their routes with fewer calls (57.0%), improved margins (55.6%) and access to the same resources as larger companies (54.0%).
- Small carriers, for example, were more likely to see improved margins (64.8%) and more visibility into their routes (62.3%) with trucking apps than any other segments.