CONTRACTOR Blog

Advice and industry insights for logistics contractors and prospective investors from a non-biased point of view.

Why You Need Asset Management in Your Logistics Business

Your delivery business is made up of many moving parts, and keeping track of all those parts can be difficult at times, especially as the company grows and expands.

Scheduling drivers is of course extremely important, but what if the drivers were missing their scanner? Or their gas card? Or even their truck?

Luckily, asset management, and our very own Fleet Tracker Tool, will get you on the right track.

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The Key Profitability Metric for Logistics Contractors

Money in > money out.

When it comes to running a profitable business, this equation is key. But for many logistics contractors, figuring out exact costs can be a hassle.

As a business owner, you’re expected to go up to bat for your company and negotiate a profitable contract. That’s why knowing your Cost Per Mile (or Cost Per Stop) is so critical.

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The Importance of a Driver Referral Program

Finding good drivers is a challenge for most contractors we’ve met.

The average new hire costs $3,500 in our line of work – including advertising, screening, interviewing and onboarding. And even then, on average annual turnover is about 50%!

But there’s a way to make each new hire cost less, and increase their tenure: referrals.

As owners, we trust our employees with the well-being and image of the company each and every day. Nobody knows the requirements of the job better than the drivers already doing it. That’s what makes them ideal to be on the front lines for recruitment efforts.

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FedEx Businesses Are Not Turn-Key

“Great management team!”

“Owner will stick around.”

“Best manager and drivers in the whole station.”

These are a few of the phrases that catch the attention of anyone looking to purchase FedEx Routes.

Not coincidentally, these are the same lines used by brokers to sell potential owners, ready to spend hundreds of thousands of dollars, on a business that is advertised to them as turn-key.

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Tips For Managing Volume Spikes Outside of Peak Season

Tax returns. Mother’s Day. Valentine’s Day. Outside of our regular peak season in the fourth quarter, there are other volume spikes that put a strain on our operations. Some may even pop up unexpectedly, such as the recent increase in residential demand due to the COVID-19 outbreak.

Peak season is extremely challenging in itself, and these “mini peaks” can be easy to overlook after such a busy season. This can lead to contractors being underprepared for these huge spikes in volume during other times of the year.

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Logistical Resource Group is not endorsed, sponsored, approved or otherwise affiliated with FedEx, Amazon or any other companies.