The U.S. over-the-road trucking industry is facing tremendous labor shortages. Nation-wide, there is a shortage of almost 48,000 workers needed to meet the demands of buyers and suppliers. Unfortunately, with more than 25 percent of the trucking labor force over the age of 55, the shortage is expected to grow by almost 900,000 within the next decade. The American Transportation Research Institute claims that this labor shortage is the number one threat to the future of the trucking industry. The question is – what is there to be done?
While most industry workers have sat around, waiting for a miracle, one Minnesota entrepreneur addressed the issue head-on. Craig Kruckeberg, former CEO of Minimizer and founder of the Bandit Big Rig Series, admits that trucking “is probably one of the most boring industries to be in” and believes that the best way to save the trucking industry is to generate excitement about the possibility of pursuing a career in trucking. And what better way to get the American people excited than watching 80,000-pound trucks fly around a race track at maximum speed?
In attempts to create excitement about the over-the-road industry, Kruckeberg founded the Bandit Big Rig Series – a racing series that puts Semis on race racks built for cars that weigh six percent the weight of a semi.
To spread awareness for the series and attract racing teams from around the country, Minimizer (a Minnesota-based fender manufacturer that Craig was CEO of before leaving to focus on the Bandit Series) invested 500,000 of its marketing budget.
The March-October series, which included 22 drivers and nearly 600,000 dollars in winnings, saw tremendous success. The company’s Facebook Page now has nearly 70,000 followers and its fan base continues to grow with every event.
As the second series rapidly approaches, Kruckeberg is projecting tremendous growth both in the Big Rig Series with aspirations to take the series to larger race tracks and eventually even to pay-per-view.
With every Bandit event comes increased awareness and excitement about the trucking industry. Hopefully, as the series continues to grow, American residents entering the workforce will see the excitement surrounding the industry and pursue a career in over-the-road hauling.
As the labor force grows in the trucking/hauling industry, TCI Business Capital is prepared to assist in any capital-flow problems that arise with our accounts receivable factoring solutions.
If your company is being held back by slow cash flow, or if you need money to meet those daily expenses, call TCI Business Capital at (800) 707-4845, or contact us via the web for a free, no-obligation factoring consultation and quote.