Truck trailers help get goods across Australia
The Transport and Logistics industry in Australia has an estimated annual revenue of $96.65 billion, adding $39.95 billion to the Australian economy in 2017. Read more about the industry and our client's part in this sector's success story.
There are just under 50,000 registered businesses in the road freight transport ranging from single truck operators to large multi-national corporations according to Australian Industry Standards. These businesses carry 30 per cent of domestic freight by road. Spending on parcels has risen 8.8 per cent recently, likely driven in part by online sales.
With the outlook for growth looking positive, business owners can gear up to expand their fleet. Expansion can include taking on more drivers to ensure succession of the workforce, where the average age is now 46 years. There is also the option of more investment in technology as Electric vehicles start to enter the market, and automation options expand. Recent news includes SEA, a Victorian-based automotive technology company that has developed electric vehicle drive trains which can be fitted to a number of donor platforms, so rendering them fully-electric vehicles.
From starting his transportation business in 2008 providing local trucking in Victoria, our client has now 62 prime movers transporting all sorts of goods Australia-wide. His success has been based on building excellent customer and supplier relationships. Providing great service means getting more repeat business and word of mouth recommendations.
Funding this growth has needed help from finance to smooth the cash flow.
Each additional truck or trailer is expensive. As a business owner you have options as to whether to acquire new or used, together with which supplier to use. Where fleets are in place another option may be to acquire more trailers, axles and other parts to improve the delivery performance to customers.
These second hand double curtainside trailers were sourced with other items through auction with finance, and provided the client with a major saving.
Classic Funding Group was able to provide a secured loan over 60 months to enable this business to keep growing. So don't just think about your banks for finance, either talk to your local broker or call us directly.