Top 9 Trucking Companies SECRETS For More Profit +8,773%

The trucking industry is always changing and highly volatile. This is evident through the falls of giants, along with the remarkable rise of the new and fastest growing trucking companies.

Oftentimes, the biggest trucking companies dominate the headlines. Nowadays, we're seeing a new group of smaller companies emerging with significant growth that often surpasses expectations and makes waves with the headlines. The new guys in the trucking industry are leveraging technology, optimizing their operations, and offering specialized services to literally carve out their niches in a very competitive market.

In this post, we're going to take a closer look at some of the fastest growing trucking companies in the USA. We'll see just what a blend of tech, operational excellence, and specialization in driving is doing to help with the emergence of trucking businesses like these below and how it makes them key players to keep an eye on in the industry for 2024. Let's begin:

Summary

Importantly, more than 200 companies made Inc. 5000 fastest-growing private firms in the US. Here, we'll take a look at the 9 best trucking companies to uncover the strategies and innovations to find out just what made them grow so quickly.

By contrast, the largest trucking companies really face hard times. This is how the momentum shifts when the market demands in freight shipping start changing—making it an opportunistic quarter for the SMB Trucking business.

Keep reading as we explore some valuable tips and a case study on how to grow fast and be on your way to being among the biggest US trucking companies as a new trucking business owner.

9 Fastest Growing Trucking Companies in the USA

1. MyFBAPrep

MyFBAPrep is a high-tech e-commerce warehouse network. They cater to enterprise brands such as Amazon sellers and aggregators. As a transportation and logistics company, they are based in Sunrise, FL and provide solutions designed to streamline operations for e-commerce businesses across the globe.

How they got there:
‍MyFBAPrep leveraged a network of warehouses across the United States, Canada, Mexico, and Europe with services inclusive of unified billing, real-time inventory tracking, and analytics via Preptopia ®. This technology-based approach allows them to fulfill most logistic requirements with ease.

Achievements:

• MyFBAPrep achieved a staggering 3-year growth rate of 8,773%.
• This trucking company developed Preptopia® to enhance billing, inventory management, and operational analytics for e-commerce sellers.

Future goals:

• Continued expansion of their warehouse network.
• Their aim is ongoing enhancements to Preptopia, to offer more advanced analytics and integration capabilities to their clients.

2. AFC Logistics

As one of the fastest growing trucking companies, AFC Logistics is based in Tampa, FL. It's a third-party logistics (3PL) company. They specialize in flatbed, van, and refrigerated transportation services for manufacturers. They've built a reputation for efficiency and reliability.

How they got there:
AFC Logistics has invested heavily in technology. They use tech to enhance service efficiency and customer satisfaction. In 2022, they launched a new website that featured advanced functionalities such as instant quotes, automated dispatch records, and real-time shipment tracking.

Achievements:

• AFC Logistics recorded a 3-year growth rate of 7,609%.
• They built strong, trustworthy relationships with over 1,000 customers, including numerous Fortune 500 companies.

Future goals:

• Continue to invest in technology to improve service offerings.
• Expand their customer base and service capabilities.

3. Red Lab Logistics

Up next on our list of fastest growing transportation startups is Red Lab Logistics. This logistics company is located in Charleston, SC. They're focused on providing both exceptional and transparent services under their namesake, Bentley, a Red Labrador. And just like Bentley, the company places value on loyalty, persistence, and readily adapts.

How they got there:
Red Lab Logistics started out by focusing solely on transporting high-value produce. This way, it established itself as an industry expert. The company then expanded its services. They now include truckloads, drayage, expedited service, dry vans, and consulting with 24/7 support along with real-time tracking.

Achievements:

• Red Lab Logistics achieved a 3-year growth rate of 3,830%.
• Grew from handling around 100 loads in its first year to projecting nearly $50 million in revenue by the end of 2024.

Future goals:

• Further expansion of service offerings and geographic reach.
• Greater financial stability and transparency in service delivery.

4. TransLoop

TransLoop is among the logistics firms that use AI-powered algorithms to optimize freight matching and streamline operations. This company provides real-time tracking to shippers and carriers. They're based out of Chicago, IL.

How they got there:
TransLoop developed transparent, reliable connections between shippers and carriers and offered customer service around the clock, 7 days a week. The company has grown into multiple locations, including Nashville, Birmingham, Ft. Lauderdale, Columbus, and Denver.

Achievements:

• Recorded a 3-year growth rate of 3,692%.
• Established a strong presence in a number of key logistics markets throughout the United States.

Future goals:

• Improvement and further expansion of Artificial Intelligence capabilities.
• Increased market penetration and diversification of services.

5. FreightPlus

FreightPlus is among the fastest growing trucking companies. It's based out of Quincy, MA. They provide intelligent logistic solutions, focusing on enhancing customers' productivity in freight shipping. FreightPlus has harnessed a data-centric approach toward better logistics performance.

How they got there:
Through tailored and fully customized services, FreightPlus demonstrates a commitment to the simplification of the most complex logistics with a focus on high standards and customer-centric solutions.

Achievements:‍

• Achieved a 3-year growth rate of 3,576%.
• Well-known for their commitment to leveraging technology and data to provide exceptional services.

Future goals:

• Continue to place a focus on technology and data to improve service offerings.
• Expansion of customized solutions to meet specific clients' needs.

6. BroadRange Logistics

BroadRange Logistics is one of the fastest growing truck companies. Based in Forest Park, GA, it offers both short- and long-term end-to-end warehousing and supply chain solutions to a wide spectrum of industries, including but not limited to e-commerce, retail, manufacturing, and automotive.

How they got there:
‍BroadRange's flexibility is designed to meet the needs of the clients. They have strategically put up warehouses that span over 7 million square feet across the United States.

Achievements:

• BroadRange Logistics recorded a 3-year growth rate of 3,198%.
• Utilized advanced technology for optimal warehousing and logistics operations.

Future goals:

• To increase their warehouse network and technological capabilities.
• Continued flexibility to meet the evolving needs of their diverse client base.

7. FlyCore Distribution

Next up, for fastest growing trucking companies, we have FlyCore Distribution. This company is located in Dover, NJ. Their specialty is distribution of name-brand beauty products. Additionally, they offer custom fulfillment services. FlyCore Distribution has a niche within the beauty industry.

How they got there:
‍FlyCore Distribution has built its reputation in the delivery of high-demand beauty products at competitive bulk and wholesale rates. They have customer-specific solutions on fulfillment, from listing on Amazon down to processing orders, managing inventory, handling quality control, and a few more.

Achievements:

• FlyCore Distribution achieved a 3-year growth rate of 2,972%.
• Well-known for protecting the intellectual property of the brands they distribute through Minimum Advertised Price (MAP) enforcement and brand IP protection.

Future goals:

• Expand fulfillment services and customer base.
• Continued focus on protecting brand integrity and enhancing service offerings.

8. Fluid Truck

Fluid Truck is among the transportation and logistics companies that have grown quickly. They are an on-demand commercial vehicle rental platform, located in Denver, CO.They offer 24/7 access to trucks, vans, and electric vehicles. Their platform offers the simplicity needed by businesses for reliable transportation.

How they got there:
‍Fluid Truck has created an easy, hassle-free, vehicle-rental process using only a mobile application. They have aggressively grown their electric vehicle fleet to aid businesses in reducing their carbon footprint and formed key partnerships with major companies like Lyft and IKEA.

Achievements:

• Fluid Truck recorded a 3-year growth rate of 2,880%.
• This trucking company closed a $63 million Series A funding round in 2020, led by Bison Capital.

Future goals:

• They aim for continued expansion of the electric vehicle fleet.
• Fluid Truck looks ahead with the ongoing development of mobile app and service offerings.

9. Summit Logistics Group

Lastly, on our list of fastest growing large trucking companies, we have Summit Logistics Group. This third-party logistics (3PL) is based out of Wilmington, NC, and provides thorough logistics and supply chain solutions. They place a focus on building strong client relationships and investing in employee development.

How they got there:
‍Having been able to create a customer-centric mindset, Summit Logistics Group has been in a position to build long-term client-carrier relations. It provides an expansive portfolio of logistics services that include freight brokerage, career services, and supply chain management.

Achievements:

• Summit Logistics Group achieved a 3-year growth rate of 2,834%.
• Known for their commitment to employee education and development.

Future goals:

• Continue to focus on client and carrier relationships.
• Expand service offerings and market reach.

A Look at The Biggest Trucking Companies in the United States: How Are They Doing?

The largest trucking companies in the US may be established and recognized as a household name, but they continue to face challenges when it comes to adapting to meet the constantly changing demands within the market. The oldest trucking companies have extensive fleets, global and national reach, and thousands of employees, yet they're struggling to hold onto their competitive edge.

Importantly, larger companies have established a reputation and long-term contracts with major clients. However, they find it harder to pivot due to their size and operational complexity. Here's a look at the decline in growth for some of the biggest names in the freight industry:

The Challenges

Even the largest US trucking company will face its own set of challenges. Some of the biggest challenges we're seeing in US trucking industry trends include:

• Shifting Demands and Huge Operational Costs: The biggest truck companies are experiencing the high cost of maintaining extensive fleets and adapting to new market niches.
• The Rise of Operational Costs: Companies like Yellow and Convoy have faced things like increased costs, high driver turnover rates, and stricter emission standards, all of which lead them to be on the list of recent trucking company bankruptcies.

Opportunity for Small to Medium Trucking Businesses

In spite of the challenges that large trucking companies are seeing, this opens up the more niche demand for smaller businesses to fulfill. Small to medium-sized businesses (SMBs) can meet the market demands by offering more tailored services. These services can be sustained at a lower cost, shining a light on a more flexible and cost-effective solution within the trucking industry.

Case Study: How A Fast Growing Trucking Business Got to 1 Million Revenue in 1 Year

When it comes to opportunities for truck companies in the USA, nothing resonates quite more than the success of a 17-year old entrepreneur with his own trucking fleets:

AJG Transport's rise in the trucking industry is a case worth noting, especially for those aspiring to be trucking entrepreneurs. Founded by Andrew Gomez, AJG Transport started with just two trucks and zero capital investment. In only two years, this has grown to a company fleet of 95 trucks, which demonstrates rather vividly that new entrants into the trucking sector can be very successful in an extremely short time.

• Expenses: In the case of AJG Transport, this meant $1,700 per truck financed, plus insurance, fuel, and driver salaries to bring the total cost to roughly $3,500-$4,000 per truck. The maintenance and repair cost represented 10-12% of revenue. Due to bulk purchasing, Gomez was able to get a special rate for new freight liners that were typically sold at $195,000 to $200,000 for $174,000 per truck if he ordered them a year in advance.
• Analysis: Despite controversies over the actual size of AJG Transport and intense scrutiny following Gomez's background, his story comes out to become an inspiration to young, passionate owner-operators. Although the challenges are business-specific, along with their resolution, Gomez's journey underlines key takeaways: that persistence, hard work, and an incessant urge for solution-finding are very important. Sometimes it just takes one strategy to get things right.

Biggest Reasons Trucking Companies Fail in the First Year

The Knowledge Gap

For small trucking businesses that are just starting out, there are many reasons that could cause them to fail in the first year. Among those is the knowledge gap. Many of those new to the business may find it challenging to understand and comply with regulations, including the Federal Motor Carrier Safety Administration (FMCSA) rules, hours-of-service (HOS) regulations, environmental laws, and safety standards.

In some instances, new business owners may lack formal training or certification in logistics and transportation management to implement best practices in order to maintain compliance as well. However, it's not simply educational. In the world of big trucking, it also has to do with experience in things such as financial management, operational efficiency, driver management, and fleet maintenance that oftentimes lead to early failures.

Financial Struggles

Another reason that trucking businesses tend to fail in the first year is that they often underestimate the amount of capital needed to sustain operations. This would include things like purchasing and leasing trucks, insurance, fuel, maintenance, and driver salaries.

Profit risks during operations are high. An example of this would be where one flat tire could wipe out a week's worth of profit.

Additionally, there's sometimes a lack of cushion to manage cash flow. An example of this would be where a small trucking company might complete a job but have to wait to receive pay for 60 days. In that timeframe, the small trucking company would still have to account for the payment of fuel and the driver.

Customer and Market Relationships

Newer transportation companies and owner operators also tend to fail due to the lack of connections and market presence that's needed to secure consistency within business. Building customer relationships can be quite the challenge and can exacerbate existing financial struggles.

Driver Shortages

Yet another challenge that can lead to failure for all trucking companies starting out is in finding and keeping qualified drivers. According to Trucking.org, the industry itself is notorious for a high turnover rate because drivers have the tendency to switch between carriers. What's more, a study in 2022 revealed that the average age of a truck driver in the US is 47 and continues to rise, making retirement more prevalent and recruitment even more difficult.

The Old School Curse

Times are changing and new trends are emerging in the trucking industry. We know that well at Cota Systems - which is why we help small to medium sized trucking companies pick up extra loads and focus their effort where it matters most. That's in increasing money made for every mile driven, no dead-heading, and applying the use of tech to ensure their trucks stay full! LTL (Less-Than-Truckload) shipments are gaining popularity in this new world of eCommerce. Learn more about how we help truckers, brokers, and shippers benefit in the world of trucking.

5 Do's & 4 Don'ts If You Want to Grow Fast

Do's

If you really want to grow fast and become one of the biggest trucking companies out there, follow these "Do's":

• Have the Opportunities Before Buying Your Truck(s): A truck tends to be a cost barrier for most starting out. Be sure to secure contracts so you can prevent financial strain.
• Leverage Technologies to Optimize Efficiency: Use advanced technologies like GPS tracking, route optimization software, and trucking dispatch software.
• Take Good Care of Your Trucks: Even large trucking companies know that regular maintenance and use of things like a CDL Pre-Trip Inspection Checklist is crucial. This can prevent breakdowns, extend the lifespan of your fleet, and minimize downtime.
• Create a Professional Website: A user-friendly, informative, and search-engine-optimized website establishes credibility and attracts customers.
• Account for Ongoing Maintenance Costs and Rising Fuel Prices: In order to maintain financial stability, consider using some of the best fuel cards for truckers and avoid unexpected expenses that could jeopardize operations.

Don'ts

If you're new to the trucking industry scene and you want to become like the successful, large trucking companies, here are your "Don'ts":

• Underestimate Cash Flow Management: Don't run out of cash. Always make sure you have plenty of money to cover operational expenses and manage payments between clients..
• Overextend Resources: Don't overextend yourself or operations. Avoid expanding too quickly without proper planning and resources.
• Ignore Regulatory Compliance: Don't forget the rules! Failing to comply with industry regulations can result in fines, legal issues, and shutdowns.
• Skimp on Driver Training: Don't allow your drivers to just scrape by. Ensure drivers are skilled and knowledgeable about safety protocols and regulations.

Fastest Way to Get Customers as a Startup

When you're just getting your feet wet, the biggest challenge for new trucking businesses is getting customers. Here's some quick ways to find clients that you can likely satisfy and maintain when you're well on your way to becoming one of the fastest growing trucking companies:

Reach out to Brick and Mortar Businesses

A great way for new trucking businesses to get customers is by networking with local businesses. Oftentimes, they may need transportation services and may prefer working with local companies for both convenience and reliability. Engaging with these businesses can help identify specific industry demands and build a customer profile.

Trucking Company Overflow

Another great way to find customers is through established, large, trucking companies. They may have more work than they can handle and subcontract some of their loads. In this case, you can get partnerships with these companies along with a steady flow of work. Additionally, this can also help you gain experience in negotiation, build your reputation, and develop industry connections.

Use Broker and Load Boards

For those starting out in trucking businesses, one of the most efficient ways to build customers is by using brokers and load boards like Cota Systems LoadBoost™ to find available loads. LoadBoost™ offers AI-powered load matching features to increase your income per mile and avoid deadheading. What's more, you can request loads to fill your truck capacity for free. With Cota Systems, you can streamline your up-and-coming small to mid-sized trucking operations with a powerful, hassle-free load board.

Offer Incentives

Another way to find customers like the biggest truck companies do is by offering special incentives. This could include referral bonuses to customers who send new clients your way. Or they could be discounts offered to first-time customers. This is a great way to attract new clients and help you build a customer base quickly.

Final Thoughts

Whether you want to be among the fastest growing trucking companies, like the ones on our list, or you're simply looking for the best trucking companies to work for, it's inevitable that the trucking industry will never stop evolving. It's driven by advancements in technology, along with innovative business models. These 9 business models offer valuable lessons on the importance of leveraging technology, building strong customer relationships, and maintaining flexibility. No doubt, as the industry continues to change, it'll be exciting to see these fastest growing trucking companies continue to grow and adapt.

In the end, the future of the trucking industry will be shaped by those who readily anticipate and respond. As we look ahead, it's clear that the lessons from these thriving companies will continue to inspire the next generation of those in the trucking industry for years to come.