4 Most Profitable Types of Trucks for Your Trucking Business
The trucking industry has become one of the most lucrative sectors in the nation. Staking your claim is easier than ever— but your success lies in getting the right truck types.
The COVID-19 pandemic continues to challenge many Australian businesses. From financial constraints to healthcare hurdles, these challenges have taken their toll on different industries…
Especially in the case of the trucking sector.
But this is about to change.
Trucking businesses have more opportunities than ever before now that the economy is on the rise. With orders piling up and economies recovering, it’s definitely a good time for truckers on the road.
But if you are still on the fence about having your own trucking business, here’s a message that’s worth hearing:
There’s no better time to start a trucking business than now.
If you want to succeed in the trucking industry, it pays to take the right steps. And the most important step of all is choosing the right trucks for your business that will give you heaps of profit.
And this article will shed light on the 4 types of trucks that will increase your chances of having a profitable trucking business. You’ll also discover 3 tips on how to achieve success in the industry.
The 4 Most Profitable Truck Types In Australia
Type #1. Car Haul Trailers
Car transport is one of the biggest markets for the Australian trucking industry. Unsurprisingly, this means that car haul trailers can make for lucrative investments.
These types of vehicles help carry out the efficient transport of passenger vehicles. It’s because car haul trailers have built-in ramps that can conveniently load and unload cars between points.
It’s worth noting that the size of a car haul trailer and the level of profit earned have a direct relationship. Bigger car haul trailers can help you earn more profit because they have the capacity to haul more cars.
But how much do car haul trailers cost?
Car haul trailers are available at different price points depending on the size of the truck. Here’s a list of the common ones and their starting prices:
- One-car trailers start at $3500
- Two-car trailers start at $10,500
- Three-car trailers start at $15,000
- Five-car trailers start at $28,000
- Six-car trailers start at $42,000
Type #2. Refrigerated Trailers
Aside from car haul trailers, refrigerated trailers, or reefers, are one of the most commonly-used trucks today. This type of truck serves the needs of those in the pharmaceutical and food transport sectors, in particular.
They’re equipped with insulation and cooling systems to protect the goods they’re hauling. This means reefers can easily transport frozen perishables while protecting them from spoiling.
But how much do refrigerated trailers cost?
On average, a refrigerated trailer in used condition can cost anywhere between $55,000 to $100,000.
Type #3. Tanker Trailers
These are versatile trucks that are built to carry liquids and certain solids. And unlike other truck types, tanker trailers serve a much larger pool of industries.
These vehicles tend to be especially profitable investments for trucking businesses. And it’s because they can transport various products, such as:
- Gasoline and petrol
- Liquid food
- Chemicals
- Dry bulk—such as sand or fertilizer
- Gaseous materials
But how much do tanker trailers cost?
The price range of tanker trailers is much wider than other truck types—they start at $7,000 and can cost up to $85,000.
Type #4. Flat Deck Trailers
These are, by far, the most common and versatile types of trucks on Australian roads today.
Commonly regarded as a cornerstone of logistics, flat deck trailers come with wood or metal loading decks. This particular feature comes in various sizes suited for different needs.
Another distinguishable feature of the flat deck is its open nature, which makes it easier to haul goods of all sizes. And unlike the other types on this list, flat deck trailers make it much easier for forklifts to load and unload items such as:
- Wood
- Sacks of dry goods
- Heavy equipment
- Housing materials
- Furniture
But how much do flat deck trailers cost?
When purchased new, flat deck trailers cost $50,000 on average. Used flat deck trailers, on the other hand, usually sell for $10,000.
3 Tips to Make Your Trucking Business Succeed
The formula for having a successful trucking business has two parts:
- Choosing the right types of trucks
- Following best practices.
Let’s say you’ve chosen the right truck types for your business. You can follow these three key tips to make your trucking business succeed.
Tip #1: Select a Profitable Niche
Profits from trucking businesses don’t only come from hauling as many products as possible. And by serving as many clients as they can.
A trucking business can achieve success if it caters to a profitable audience. By choosing a profitable niche, you’ll have an easier time:
- Determining the services you can offer to your chosen market
- Avoid the mistake of competing with larger, established companies
- Plan your finances
- Buy the right equipment
- Come up with the right rates
Tip #2: Estimate Operating Costs
Knowing how much you’ll spend dictates how much you should price your services. This is crucial for setting profitable prices.
When estimating the operating costs of your trucking business, you’ll need to:
- Know what you’ll be spending for in your chosen niche
- Understand the different kinds of taxes you’ll be dealing with
- Set accurate revenue targets
Tip #3: Automate Processes
Thanks to technological innovation, trucking businesses now have the option to work smarter. But there’s one key innovation that you should look into the most:
Process automation.
In the context of a trucking business, you can automate certain processes such as billing and ensuring compliance.
Having the right automation solutions in place can help you:
- Save time
- Reduce labour costs
- Carry out smoother collections
- Avoid regulatory fines
Build a Successful Trucking Business
Finding success in the trucking industry only happens when you make profitable decisions. With the economy rebounding and more customers to serve, there’s no better time to start your trucking business than now.
Consider adding any of the four truck types in Australia mentioned in this article to your trucking business. It can help you get closer to profitability faster.
Want to kickstart your trucking business with the right types of trucks? Check out the different options available at Truck Dealers Australia.