This week has been hot. Very hot. Record-breaking temps across the US have made all of us seek air conditioning and pools to cool off. Agencies track the weather to know how to manage their resources. Smart truckers do the same with Trucker Stats™ to learn how to manage their business resources. So what’s your most important trucker stat?
Trucker Stat: Revenue Per Truck
If you’re running more than one truck, then one important trucker stat that you need is the Revenue Per Truck. Most of the time, revenue is tracked on a grand level. How much money did the company make during a specific period of time? Breaking it down to figure out which rig is making the most money is important when a company has to make tough decisions.
- What rig hauls the most loads? The ring with the most loads doesn’t always mean the most revenue.
- What rig makes the most money? Are we comparing long-distance loads to local trips?
There are many factors in judging how profitable a rig is. Revenue is a great place to start if a decision to replace a rig or to expand and buy another is under consideration. That makes Revenue Per Truck an important trucker stat.
Trucker Stat: Costs Per Mile
Expenses aren’t usually computed per mile. QuickBooks doesn’t even have an option for it. But it’s an important trucker stat because it’s how we get paid. If we don’t know this critical number, how can we bid on a load and know we’ll make enough money to cover the costs of hauling it?
There are a lot of brokers and shippers out there who have decided to cut corners on their costs on the backs of truckers. They want the lowest possible price to haul goods. We understand that, right? They need to make money.
So do we.
No trucker should be hauling goods for a shipper who isn’t paying enough for the load.
So how do we know how much is enough? We know how much it costs us to haul a load per mile. When we know that single number, then we know the difference between profitable loads and rip-offs.
The problem is – that’s a hard number to compute. Because it’s not just about the loads. That number has to take into account
- Maintenance
- IFTA
- IRP
- Insurance
- Loan payments
- Business expenses such as software and professional support.
So how do you break down an annual insurance payment or monthly loan repayment into a per mile calculation? (Don’t answer that. My brain doesn’t think like that.)
TruckingOffice PRO has all those numbers already entered into the program. Using the proper calculations, this important trucker stat is computed without you adding any extra numbers into the program. (As long as you make sure you enter all those numbers when you pay them!)
Then, in a second, you have that number at your fingertips. You’ll know what to bid on a load and what to turn down. What a relief to know when to say yes and when to say no!
TruckingOffice PRO gives you the numbers you need to succeed in the trucking industry.
But it does much more!
Using a single trucking management software package gives the independent owner operator the same benefits that big trucking companies have in expensive software solutions. TruckingOffice offers the best options for the solo trucker. We’ve got affordable trucking management software that handles everything. TruckingOffice PRO makes your life easier and managing your business smoother by helping you handle your tasks better and faster:
- dispatches
- routing
- invoices
- expense management
- IFTA and IRP
- maintenance
- Trucker Stats™– reports to show the state of your trucking business.
Combined with the TruckingOffice ELD, you’ve got everything you need to build a successful trucking business – even from the cab of your truck.
Contact us today to learn how TruckingOffice PRO can help you avoid loads that cost you money to deliver and to discover what equipment is the most profitable for you.
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