Trucking company success doesn’t come easy. A trucking business is ultimately a complicated endeavor with many moving parts. (Pun intended.) How do you know if what you’re doing is right? Do you have data that can tell you what works -and what doesn’t? If you use TruckingOffice trucking management software and ELD, you’ve got the tools you need to build a successful trucking business already – you’ve got Trucker Stats™ to tell you.
Trucker Stats™ is the set of reports in TruckingOffice PRO that combines your trip expenses, maintenance costs and driver settlements to show where the money in your trucking company is going, including your cost per mile and whether a load is worth taking.
Trucker Stats™ works load by load, too. See Profit Per Load with Trucker Stats™.
The Owner-Operator Expenses You Need to Track
Owner-operator expenses fall into two groups: fixed monthly costs such as loan and insurance payments, rent, scheduled maintenance, savings and payroll, and variable trip costs such as fuel, tolls, lumpers, tires and brakes.
The sheer amount of data you need is probably already in-house. Think about it.
You need the monthly expenses:
- loan payments
- insurance payments – business, equipment, bonds, health
- rent – office and truck parking
- scheduled maintenance
- savings toward emergency funds and replacing equipment
- paying yourself and employees (plus taxes and withholding).
You’ve got all those details already. Trucker success is simply using the data the right way.
Trucker Success In the Numbers
The problem is that those are MONTHLY expenses in a business that’s paid by the mile. Making that math work is the reason that we invented computers in the first place. (Well, that and World War II.)
That list is actually the easy part. For most of them, those are fixed expenses. It’s the randomness of trucking that gives us headaches. Fuel costs. Tolls. Lumpers. New tires and brakes. When those expenses come up for trips or for maintenance, then converting those to a monthly expenses…
What’s a trucker supposed to do?
Use a system that does the math for you.
The Calculations Done for Independent Trucker Success
But not by you? Sounds like a deal to me.
That’s what a complete trucking management software program does for you. It keeps all the numbers
- expenses from a trip
- maintenance costs
- driver settlements
and calculates what we call the Trucker Stats™. These are the numbers put together to help you get a good look at where your money is going in your trucking company.
Whether you want numbers or graphs to take a closer look at your trucking business overview report, TruckingOffice PRO has the view you need to understand the status of your company.
TruckingOffice PRO and TruckingOffice ELD (or E-Log) working together get the most accurate data. Together, you’ll get an IFTA or IRP report that’s accurate (and fast.) You’ll have the deep look into your trucking habits, expenses, income and revenue you need. Then you can change how you do business
- Know your cost per mile to run your rig
- Determine if loads are profitable or not to take – before you take them.
- Analyze trends in lanes and loads to determine if they’re the types of loads you should take.
Using TruckingOffice PRO’s customer database, you can find old customers to reach out for new loads.
The Maintenance tracker can keep your repair records and help you schedule maintenance at your convenience, not on the road with the extra emergency charges.
Together, TruckingOffice PRO and TruckingOffice ELD are the team you need to build a successful trucking business.
Trucker Stats™ FAQ
What is Trucker Stats™?
Trucker Stats™ is the set of reports in TruckingOffice PRO that pulls together your trip expenses, maintenance costs and driver settlements to show where the money in your trucking company is going. You can view the results as numbers or graphs in the trucking business overview report.
What expenses does an owner-operator need to track?
Owner-operators need to track fixed monthly expenses and variable trip expenses. Monthly expenses include loan payments, insurance (business, equipment, bonds and health), office and truck parking rent, scheduled maintenance, savings for emergencies and equipment replacement, and pay for yourself and employees plus taxes. Variable expenses include fuel, tolls, lumpers, and new tires and brakes.
Why is it hard to know if a trucking business is profitable?
Most of a trucking company’s bills are monthly, but the business is paid by the mile. On top of that, costs like fuel, tolls, lumpers and repairs come up randomly by trip, so converting everything into a monthly or per-mile picture by hand is difficult. Trucking software that does the math for you solves that problem.
What decisions can Trucker Stats™ help me make?
Trucker Stats™ helps you know your cost per mile to run your rig, decide whether a load is profitable before you take it, and analyze trends in lanes and loads to see which types of freight you should keep hauling. The maintenance tracker also helps you schedule repairs on your terms instead of paying emergency charges on the road.
TruckingOffice Trucking Management Software
TruckingOffice PRO offers the best options for the solo trucker or the fleet builder. 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
- invoice generation and tracking
- 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.
Recent Comments