Fuel Up Your Fleet Strategy for 2024 and Beyond
It’s already July, and that means some exciting events are coming up soon! We’re thrilled to be Premier Sponsors of this year’s Route Consultant Expo in Dallas, Texas, from August 2-4. It’s free to attend - and our booth is pretty amazing, if we do say so ourselves. RSVP here to join us at Expo 2024.
The theme for this year’s Expo is “Fuel Up” - which means preparing in the present, with an eye towards future success - and that’s what we want to cover in today’s blog article: How to Fuel Up Your Fleet Strategy for 2024 and Beyond.
What is fleet strategy?
Fleet strategy is a complicated, comprehensive series of overlapping business objectives. These include vehicle procurement, route optimization, asset management, team/driver management, compliance and safety, maintenance, and more.
At the end of the day, though, in our space, it comes down to something simple: delivering packages as reliably, efficiently, and cost-effectively as possible.
What makes for a good fleet strategy?
A good fleet strategy is comprehensive enough to cover the many components of running a logistics business, and flexible enough to adapt to changes in regulations, package volume, weather, and other unexpected factors like workforce shifts or repair and maintenance issues. A major part of any fleet strategy is the management of people and assets, two things we’re going to focus on today.
What is a good strategy for keeping my drivers happy?
We touched on this in a recent article - driver turnover remains a major challenge for contractors. There are numerous ways to tackle this challenge, but one of the most impactful is actually a two-for-one benefit: correctly managing your fleet assets will help you retain happier, longer-tenured drivers with better performance.
As we recently noted, “Drivers feel safer, happier, and more valued when they are seated in new, safe, reliable vehicles. That’s their office for the day, every day: you want to make sure they’re satisfied and comfortable there. However, upgrading older fleet vehicles or regularly refreshing a fleet can represent a significant cash flow challenge for small businesses - that’s why the consistent payment schedule of acquiring brand new vehicles on a lease presents such an attractive solution to contractors. Additionally, there’s a $0 down payment required to lease trucks - reducing the barrier to entry for new, safe, efficient vehicles.”
How often should I refresh/upgrade my fleet?
It’s considered a best practice in the last-mile delivery space to upgrade/refresh 10%-20% of your fleet every year.
When is the best time to prepare for peak season?
The best time to prepare for peak season was yesterday. The next best time…is today! Use your historical data and the data provided by FedEx Ground to project how many extra trucks you might need to supplement your fleet during the increased volume of peak season.
Rentals go early and for high prices with somewhat unfavorable terms (like non-negotiable early start dates or minimum rental terms), so you’ll want to secure vehicles sooner rather than later.
Hello Truck Lease offers peak season promotions for trucks every year - stay tuned early next month for our announcement of our 2024 promotion.
What role does leasing trucks play in a solid fleet strategy?
Leasing trucks (often employed in combination with purchasing trucks) represents a powerful tool in fleet management and strategy. It allows contractors to acquire brand new, Schedule B-compliant trucks with no down payment, and our full-service leases cover all* repair and maintenance, from oil and brake changes to engine and transmission repair. Additionally, leased vehicles come with an option at the end of the lease term to either turn in the trucks for brand-new leases, or to purchase the vehicles for a favorable residual - whatever makes the most sense for you and your business.
How does leasing help me run a more successful operation?
When you lease trucks, you can say goodbye to unpredictable fleet expenses. One of the biggest challenges for contractors is managing volatile cash inflows and outflows. One week might be steady, and then the next you might be making the impossible choice between repairing a transmission or making payroll. It’s our mission at Hello Truck Lease to eliminate that volatility.
For a single, consistent weekly payment, you can lease a brand new, Schedule B-compliant delivery vehicle with all the latest safety and telematics technology. Because all* repairs and maintenance are included in the weekly lease payment, cash outflows become predictable in a way that can completely change the game for a contractor.
Hello Truck Lease exists to help contractors succeed in a very challenging and dynamic environment. If you’re interested in learning more about our industry-leading lease program, and how Hello Truck Lease can help you Fuel Up Your Fleet Strategy, visit HelloTruckLease.com or click here to fill out our inquiry form.
You can Fuel Up Your Fleet Strategy for 2024 and Beyond with just a few thoughtful adjustments to your fleet management. Now is the best time to get started - reach out today!
*except glass, tires, and physical damage
