If you’re currently running a small fleet of trucks, maybe you’re thinking it’s time to grow. But how do you decide what type of vehicle to buy? Being a strategic fleet builder requires data to make the right decisions to grow and not just take on useless debt.

Your Fleet’s Truck Profits

When it comes down to the bottom line, it’s the bottom line that matters. What trucks make money for your company? Do you have vehicles that aren’t carrying their weight when it comes to make a profit? (Yeah, that pun was intended.)

Many times, the decision to buy a trailer is made by default. Lots of loads need a dry van.
Buy a dry van.
Compete with everyone else who has a dry van.

Some fleet builders look around. They check the load boards. They look at local businesses. And they might see that the local steel mill needs flat beds to haul metal. Or the local food production company needs refrigerated vans.

Other fleet builders go a little deeper. They do the research from various organizations about specialty hauling and what makes the most money. That kind of strategic fleet builder knows that there’s data out there that can help them make a smart decision.

It’s based on profits.

Why would you buy a trailer that won’t make money?

And how will you know if that trailer is making money?

Figuring out the profits of a single vehicle in a fleet is complicated. It’s not just about what’s coming in. It’s also about what’s going out.

Expense reports per truck

It’s not just fuel and the driver pay and the maintenance.

Vehicles have all sorts of expenses. Some of them are obvious, such as

  • fuel
  • driver payments
  • maintenance (scheduled and emergency)
  • tolls
  • factoring fees
  • Taxes – IFTA, IRP, HVUT.

But there are others

  • vehicle insurance
  • employee benefits
  • loan repayments
  • driver training
  • support staff compensation
  • office rent.

We don’t always remember to add all the expenses of running a trucking company. If you have six trucks, those expenses get divided into the income generated by the fleet.

Breaking down the expenses per truck gets complicated. It’s not a simple math problem. You have to go deep into the data.

How Do You Decide Which Rig to Buy?

Good question.

If you have more than one rig, then you have some data that is critically important to making that decision.

The strategic fleet builder will use that data to understand where they’re making money. Which truck is making a profit.

Sometimes, it’s not easy to tell.

If a new truck has a monthly loan repayment, is it smart to compare it to a 10-year-old rig that doesn’t have a loan repayment, but has maintenance expenses that the new rig doesn’t?

(See? We said it’s complicated.)

If you use TruckingOffice PRO trucking software, you have access to the data you need to figure this out – without adding any extra numbers into the system.

TruckingOffice PRO is a complete trucking management system. You track all those expenses for billings, right? You track your maintenance for taxes. You pay your insurance and loans and record it and you’ve got the data you need to start making strategic truck business decisions. Not just based on what catches your eye this week.

Trucker Stats™, Unit Reports, and Trucking Company Reports

TruckingOffice PRO offers a wealth of reports you can use to help determine the right purchases for your company. When we’re talking $20-30K for a dry van or over $100,000 for new day cab (or close to $200,000 for a sleeper!) this isn’t an investment you make lightly.

When you can look at the numbers, you can make smart decisions about when you buy a new truck – and when to get rid of one that’s not making you money.

The strategic fleet builder knows sometimes you gotta get rid of a vehicle that’s costing you too much. That’s why Trucker Stats™, trucking business reports and vehicle reports are so critical to the fleet builder.

Become a Strategic Fleet Builder

It’s simple, really. Use TruckingOffice PRO’s reports.

Our Unit Operating Income report can show you which vehicle is working for you the hardest. Which one is making you the most money, and which one is costing you money. Maybe it’s just a matter of changing the trailer. Maybe it’s time to shed some lanes that aren’t producing the income you need.

When you have a fleet, it can be hard to drill down to which vehicle is your MVT (most valuable truck) and which one has issues you can address. The Unit Revenue Per Mile report gives you a comprehensive look at your fleet, one by one, to help you make data driven decisions, not just the wild-ass guesses that are sometimes based on frustrations or unexpected expenses.

TruckingOffice PRO is here to help. Why not give us a trial run today?

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