The Key to Profitability: Understanding Costs and Numbers in the Trucking Business with Kevin Rutherford of LetsTruck and Henry Albert of Albert Transport
Update: 2024-10-01
Description
In this episode of Freight Nation: A Trucking Podcast, host Brent Hutto is joined by Kevin Rutherford of LetsTruck and Henry Albert of Albert Transport.
Join them as they discuss:
- Strategies for increasing profitability
- Building relationships
- Controlling costs
- Maximizing fuel mileage
- Understanding the profitability of each load
Kevin Rutherford is the owner of LetsTruck, who provide a wide range of solutions for the challenges facing drivers. He hosts a radio show about trucking on SiriusXM satellite radio, and is a Nutritional Therapy Practitioner at Destination Health. Before this, Kevin was a small fleet owner for over twenty-two years.
Henry Albert has been the President of Albert Transport for over twenty-eight years; Albert Transport is an active carrier in Huntersville, North Carolina. He is involved with Trucker Buddy and is currently on the board of directors. In 2007, Overdrive Magazine recognized Henry as Trucker of the Year.
Episode Highlights:
[06:43 - 08:59 ] - Henry emphasizes the importance of optimizing basic truck configurations for fuel efficiency. He illustrates this by recounting a case where fleet trucks had their fifth wheels pulled all the way back, signaling a lack of understanding about its impact on fuel mileage. He observed that despite having advanced aerodynamic trucks and optimized idle settings, the drivers were running air conditioning and refrigerators continuously, leading to unnecessary fuel consumption. Albert underscores that even with the best equipment, not using it correctly can hinder operational efficiency, likening it to having a top-quality hammer but failing to use it properly.
[23:42 - 26:49 ] - Henry highlights the critical importance of measuring every aspect of one's operation to maintain profitability. He recalls a time when he aimed to surpass the average rate per mile of a major competitor, which was $1.73, by meticulously tracking each load, including deadhead miles. His experience underscores that measuring costs and profits—similar to how valuable commodities like gold and diamonds are tracked—is essential for making informed decisions and achieving financial success in trucking. He argues that everything of worth must be measured to understand and optimize profitability.
[26:49 - 28:44 ] - Kevin emphasizes that small owner-operators have significant advantages over large fleets, particularly in terms of flexibility and cost control. He explains that unlike big carriers with thin profit margins and extensive overhead, owner-operators can adapt quickly to changes, such as adjusting driving speed or managing fuel costs. This agility allows single-truck operators to make strategic decisions that can be implemented immediately, providing a competitive edge that larger fleets often cannot match.
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Freight Nation: A Trucking Podcast is handcrafted by our friends over at: fame.so
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