Are you looking for a good business in 2018? Perhaps it’s time to consider the trucking industry. It may not be for everyone, but those who are looking for a lucrative opportunity should give it a serious thought. Consider these reasons:
1. It will continue to grow.
The trucking industry has bounced back from its severe collapse during the Great Recession. The American Trucking Association predicts it will grow beyond 3% until 2023.
After that, this growth rate may decline, but it should remain to enjoy a positive outlook. Nevertheless, engaging in such business now will give you a stronger position in the next few years.
2. You can venture into different businesses.
The trucking industry is huge, and you have multiple business options. The moving service industry is picking up steam, according to a report by IBISWorld. This multi-billion enterprise will experience more rapid growth until 2022. You can also engage in dangerous goods transport.
To make it even easier for you, you can start a moving company through a franchise. With it, you can have not only a ready fleet, but also a team to help you manage your business.
3. E-commerce will thrive.
There’s no doubt that e-commerce is one of the major movers and shakers in trading. While some experts think it may slow down within the next years, eMarketer believes it will still earn a staggering $27 trillion in 2020.
But where do you come in? You help in fulfillment. Sellers, from the likes of Amazon to solo home-based entrepreneurs, will require your service to deliver the goods efficiently to their customers.
Running a trucking company is not for the faint-hearted. It does have challenges, and many of them are costly. With the right professional support, however, newbies can quickly turn into pros.