How much money do you need to stay in business every week? The best way to know is to know your Trucker Stats with TruckingOffice PRO. Your trucking business success depends on knowing the numbers that show what you need.
Trucker Stats Revenue – What Do You Make Per Week?
Trying to figure out how much an owner-operator earns per week is a challenge. Do we look at
- How much came in?
- How many invoices got paid?
- How many loads we hauled and can expect to get paid for?
How much revenue you’re bringing in this week is important. Knowing how much you bring in gives a trucking business the ability to make predictions about income and make plans.
There’s a lot of unpredictability in the trucking industry. Fuel prices go up, pay per mile goes down. For a trucker who gets all their loads off a load board, it can be complicated.
Revenue per week vs. per mile
We’ve talked in previous posts about knowing how a trucker needs to know their expenses, revenue, and profit per mile numbers. We have to know per mile because that’s how we’re paid.
But it’s not the only analysis we need to make of our trucking business finances.
Knowing that we need to make a certain dollar figure per mile in order to avoid taking a loss on a load, it’s important to know how much we need per week to meet our expenses, make a decent living, and put away money for the future. That number per mile doesn’t make a lot of sense when we’re sitting in front of our bank website, trying to pay bills.
We live in time, not in miles.
So think about these numbers that way. How much money do you make per week?
Which takes us back to that first question. How do we decide?
Trucker Stats: Revenue and Expenses
Costs of… well, everything… are going up this year. The economic indicators aren’t looking good. Which is why we need to evaluate our business regularly. If a trucker has a certain lane, is it really producing the profit they need?
If Annie has a regular route that picks up daily with a load that’s going to take a total of 7 hours on the road, she can do that in one day, no problem. No hours of service issues there. But is 7 hours per day enough to support her business and family? Maybe – but maybe not. If Annie can consistently find a load between the delivery and the next pick up, then yes, it’s probably a good deal for her. But if she can’t? She may need to rethink this contract.
Maybe how we figure out our revenue per week is less important than that we do it consistently in the same way. When we know our revenue per week, we have a good handle on how the business is doing. An owner operator who supports a family needs to know what’s coming in.
The per week number works for families. It’s not hard to know what a family needs on a weekly basis to sustain them. When the trucker can compare the income from the trucking business to their family’s needs, then the financial picture becomes very clear. That’s why TruckingOffice PRO produces trucker stats: revenue, expenses and profits.
TruckingOffice PRO Trucker Stats
Trucker stats from TruckingOffice PRO trucking software allow a trucking business manager or an owner-operator to look at their data in many ways.
Annie can look at that 7 hours per day lane and see if that’s profitable for her. Short-distance loads may be convenient for truckers who want to be home more, but that 7 hour load cuts in half the amount of time a trucker could be driving and making more money. Committing to a short load schedule might sound good, but there should be benefits for the trucker, including getting paid enough to turn away other loads.
Per Mile? Per Week? Why Chose?
After all, do you know how many miles you’ll drive in an hour? (That includes all the time sitting in the yard, waiting for the shipping crews to do their work.) You know how many hours per week you can drive (14 hours per day, 5 days a week) so looking at a per day rate of revenue gives you a clear cut view of how you’re doing.
Why choose which way to see your finances? TruckingOffice PRO gives you the options to look at your finances from the per mile to the per day or even per week or month. When you need to know your trucking business finances, TruckingOffice PRO allows you to examine them how you want to. When it comes time to plan for the future, you’re looking at time, not only miles. So know your trucker stats revenue per week numbers and make the smart decisions for your future.