Expedited Trucking Business Opens New Facility
Under normal circumstances, certain aspects of the trucking industry tend to move slower than others. The expedited trucking business usually handles freight that is sent over due to problems like tight capacity, strikes, congestion, or other similar issues. This means that, traditionally, these organizations don’t get as much business.
However, V3 Transportation has proved to be an exemption to this rule as of late. The Brunswick, Ohio company which was founded in 2013 has opened up a new headquarters in Seville, Ohio as its business and fleet continue to expand. Bob Polous, CEO and co-founder of V3 Transportation said: “We’ve bucked the trend. This has not been an easy year, supply and demand have been inconsistent. Length of haul is down, rates are down, but every KPI (key performance indicator) in our business is up.”
Bob Polous and fellow industry veteran John Sliter founded the company with only two laptops and two cellphones. The organization has certainly come a long way, as the new facility will feature 100,000 square feet of office space and 6,000 square feet of maintenance room for the owner-operator trucks.
The organization’s diversified customer base and low turnover rates have contributed to its ability to grow. The growth can also be attributed to the business’s ability to capitalize on sluggish conditions in the general freight economy. While they boasted an impressive $12 million in revenue last year, they’re now experiencing a $25 million, 12-month revenue run rate. The organization has no plans of slowing down and projects even more growth in the future.
Bob Polous said: “In our world, supply and demand revolve around instability of the supply chain. And the reality is, there’s instability in the supply chain. You’ve got model changes, parts changes, supply interruption. This goes for any just-in-time manufacturing supply chain.”
The company is also planning to pursue acquisition opportunities soon.