The tools provided in the ooida foundations cost of operation spreadsheet will help. Lets say a penny per mile and you cover 70,000 miles a year. Jul 31, 2018 cost to run per mile worlds best tree felling tutorial. Fleettrax premier is the most comprehensive truck fleet maintenance program available for the trucking industry. At one time, we truckers accepted that as what we had to do it was a lot worse before the ifta.
Next add your figures together for steering tires and drive tires to give you a cost per mile for tires, this example for new tires has a figure of. An analysis of the operational costs of trucking american. Taking the costs out fleet management trucking info. Respondent truck insurance premium costs per mile by fleet size 33. Some drivers will enter an established figure of what it is that they wish to earn. How to calculate revenue and profit per mile rts financial. What is total cost per mile for truckload carriers.
Cost per mile is used by trucking companies of all types to monitor and control various costs. Youre shooting for an area in which you are being paid more than your costs of operation. The owner operator truck cost per mile calculator feeds relevant calculations to the truckers profit and loss spreadsheet which is the final tool that should tell the owner operator whether a load is profitable and helps the owner operator make sound load decisions before running unacceptable loads. To determine the total monthly cost per mile, simply add the fixed, variable and salary costs. This section has calculators for fuel surcharges and lease purchases, tips for working with brokers, truck leases, and other tools for running your business, whether its with your own authority or as a leased owneroperator. It was written by a software expert with the guidance of owneroperators and leased operators.
Expenses like the brokers fee, permit fees, drivers pay, equipment rental and other expenses can be entered as a flat rate, percentage or cost per mile. Heres atris breakdown of average trucking cost per mile, along with the. The fleet maintenance software of choice of over 4,000 private, forhire and public fleets, dossier lowers costs and downtime by automating control of your fleets records, pm scheduling, repair orders and histories, fuel costs and mpg, cost control with cost per mile hr, parts inventory control w auto reordering, work pending and campaign. The cost per mile calculation plays an important role in the success of your trucking operation, because it will tell you the operating expenses of your truck per mile driven. Jan, 2020 as a company grows, and implements software and standard processes, the cost of nondriving activities can be reduced significantly by 47% of revenue. The software handles inspection reporting, tire tracking, preventive maintenance scheduling, fleet maintenance history, purchase order tracking po tracking, fuel usage, equipment tracking, depreciation tracking, parts inventory, including bar code scanning and. That may sound good enough, especially during the slow months. Still not sure about purchasing cost per mile cost per mile is an inexpensive tool that will pay for itself many times over. Keystone systems company databankcentralized location to maintain information on all the companies with whom you do business. Use our free calculators to determine cost to transport a load, calculate fuel cost for a trip, calculate cost to sell an invoice and much more. The real cost of trucking per mile operating cost of a. While not all routing software is created equal, most use a similar approach to. Here is the total cost per mile for the fictional chucks trucks in the month of august.
The owner operator truck cost per mile calculator is one of the vital tools that owner operators and lease operators need to help them to quickly see if a load will result in a profit or a loss and whether the load will help to sustain their bottom line the owner operator truck cost per mile calculator feeds relevant calculations to the truckers profit and loss spreadsheet which is the final. If you learn one thing from this book, that will increase your profits. How to calculate cost per mile for your trucking company rts. If you pay 40 cents per mile, then your cost is merely 40 cents per mile. May 14, 2017 owner operator profit and loss spreadsheet truckers trip planning app. Using fleet management software to automatically calculate trucking cost per mile and total cost of ownership enables you to make datadriven decisions, maximize profitability and optimize your fleet. Our trucking software captures trucking expenses in accordance with everyday trucking business practices. Using a trucking cost per mile calculator is the best way to know your operating costs and confidently bid on loads.
You can even calculate the cost per mile without these helpful aids because it is quite simple but very important. Easy to use and affordable, truckingoffice provides a host of trucking management features that include dispatch management, load planning, driver settlement, tax filing, expense monitoring, and reporting. This example used total annual figures to calculate your operating trucking cost per mile. Rig expense tracker will track the income and expenses, truck information, and load information for owneroperators, leased operators, and company drivers. Brokercarrier business list members only, please login cost per mile spreadsheet. Some look at cost per stop, cost per hour or other. Established in 1978, keystone systems has over three decades of experience serving the trucking industry.
Cost to run per mile worlds best tree felling tutorial. Trucking business consulting innovative logistics group, llc. Paying a flat permile rate makes it easy to calculate the cost of trucking per mile. Or want know average truck driver pay per mile 2018. The owner operator truck cost per mile calculator is one of the vital tools that owner operators and lease operators need to help them to quickly see if a load will result in a profit or a loss and whether the load will help to sustain their bottom line the owner operator truck cost per mile calculator feeds relevant calculations to the truckers profit and loss spreadsheet which is the. Knowing your trucking companys cost per mile benefits you in many ways. Which tires or types of tires are the most costeffective lowest cost per mile to run. The cost per mile for an owneroperator isnt just a number its vital information to help a trucker make decisions about taking loads and passing them by. Perhaps the largest expense for any trucking company is the cost of fuel. Owner operator independent drivers association, trucking. It helps identify spending patterns and areas where you can cut back. Rigbooks lets you get a better view at your bottom line by tracking your expenses. How to calculate cost per mile for your trucking company. The trucking cost per mile app was built based upon suggestions by both the new owner operators who didnt quite understand the importance of knowing their truck operating cost per mile and more experienced owner operators who wanted an app that was simple to use yet provided a much clearer representation of the cost per mile they need in order to determine the true impact of their load.
Our trucking software helps manage revenue for each truck load transported. Owner operator profit and loss spreadsheet truckers trip planning app. Rigbooks lets you get a better view at your bottom line by tracking your expenses, which means you no longer need to keep your receipts. The cost of trucking has been trending up for the past decade and shows. Way more information than you ever wanted on how to fell a tree. Without this knowledge, how will an individual know what they need to earn in order to both cover their costs and pay themselves. Cost of operation spreadsheet tools ooida foundation. Owner operator profit and loss spreadsheet youtube. Cost of operation spreadsheet for both leasedon owneroperators and those under their own authority, knowing your cost of operations is vital to success. If you prefer an easier method, many trucking software programs will do this for you automatically. You can use a simple form or a computer program to calculate your cost per mile. Truckingoffice supports multiple driver payment models such as pay by percentage, pay per mile, manual pay entry, and fixed monthly pay. The trucking cost per mile app was built based upon suggestions by both the new owner operators who didnt quite understand the importance of knowing their truck operating cost per mile and more experienced owner operators who wanted an app that was simple to use yet provided a much clearer representation of the cost per mile they need in order to determine the. Our success in the trucking industry is based both on our expertise in computer software and our commitment to developing customerbased solutions.
The transportation and trucking consultants of innovative logistics group have helped countless independent owners, across the united states, implement our proven solutions and programs designed to keep your business on the road and. Calculating the real cost of trucking per mile quick. Chad also founded the rate per mile masters group on facebook. The software handles inspection reporting, tire tracking, preventive maintenance scheduling, fleet maintenance history, purchase order tracking po tracking, fuel usage, equipment tracking, depreciation tracking, parts inventory, including bar code scanning and compatibility. How to calculate owner operator trucking cost per mile. There are separate software packages to figure out the ifta payments per state that will require every mile to be entered. As a company grows, and implements software and standard processes, the cost of nondriving activities can be reduced significantly by 4. It is critical to know your costs and to continually search for ways to reduce those costs.
If it seems high, you may need to take on additional loads to increase your profit and help drive down the cost per mile. Ooida fighting for truckers land line magazine land line now ooida pac. Salaried calculations are a little more involved, but still not difficult. The software that gives you the tools to always know what loads are making money and which ones lose you money. Increase operational performance establish an accurate control of your costpermile, pervehicle. What to do about truck driver pay per mile before its too late.
With truckingoffice you can manage all your dispatches and expenses and stay on top of your invoices to your customers. Rigbooks is an owneroperator trucking software that lets you choose the most profitable loads by recording cost per mile, profit per mile, and average miles traveled. The cost of trucking operations in the united states vertrax. In general, the cost per mile decreases as the miles increase. The costpermile calculation plays an important role in the success of your trucking operation, because it will tell you the operating expenses of your truck per mile driven. Divide the total cost of the trip by the number of miles in the trip 501 680 73.
However, use the formula the same way if you wish to determine the costing for. Paying a flat per mile rate makes it easy to calculate the cost of trucking per mile. For both leasedon owneroperators and those under their own authority, knowing your cost of operations is vital to success. The latest data from the american transportation research institute atri says the average trucking cost per mile in the u. It is something that you should be doing regularly though, because it keeps you informed about how your business is performing, and optimally, its probably something you want to track on a monthtomonth basis. Nov 14, 2019 truck driver pay per mile average pay per mile for owner operator truck drivers an awareness of the path to success and the industry is the sole way to make certain that a truck driver receives the salary thats deserved for the value given. Knowledge is power in the fastchanging trucking industry. Com already know average truck driver pay per mile 2019. Calculating your cost per mile is something that seems difficult at first but is actually pretty simple, if occasionally tedious. To calculate the cost per mile, divide the cost by the number of miles you drove that month. Trucking tools, owneroperator independent drivers association.