Rigbooks lets you get a better view at your bottom line by tracking your expenses. The cost of trucking has been trending up for the past decade and shows. 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. Paying a flat per mile rate makes it easy to calculate the cost of trucking per mile. You can even calculate the cost per mile without these helpful aids because it is quite simple but very important. Some look at cost per stop, cost per hour or other. Com already know average truck driver pay per mile 2019. Way more information than you ever wanted on how to fell a tree. 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. Still not sure about purchasing cost per mile cost per mile is an inexpensive tool that will pay for itself many times over. Some drivers will enter an established figure of what it is that they wish to earn. 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.
While not all routing software is created equal, most use a similar approach to. Or want know average truck driver pay per mile 2018. May 14, 2017 owner operator profit and loss spreadsheet truckers trip planning app. Divide the total cost of the trip by the number of miles in the trip 501 680 73. Jul 31, 2018 cost to run per mile worlds best tree felling tutorial. It was written by a software expert with the guidance of owneroperators and leased operators. The latest data from the american transportation research institute atri says the average trucking cost per mile in the u. Here is the total cost per mile for the fictional chucks trucks in the month of august. 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. 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. Respondent truck insurance premium costs per mile by fleet size 33. Keystone systems company databankcentralized location to maintain information on all the companies with whom you do business. That may sound good enough, especially during the slow months. Owner operator profit and loss spreadsheet youtube.
Our success in the trucking industry is based both on our expertise in computer software and our commitment to developing customerbased solutions. 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. 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. 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 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. To calculate the cost per mile, divide the cost by the number of miles you drove that month. How to calculate cost per mile for your trucking company. Using a trucking cost per mile calculator is the best way to know your operating costs and confidently bid on loads. 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. 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. The real cost of trucking per mile operating cost of a. Our trucking software captures trucking expenses in accordance with everyday trucking business practices. With truckingoffice you can manage all your dispatches and expenses and stay on top of your invoices to your customers.
Truckingoffice supports multiple driver payment models such as pay by percentage, pay per mile, manual pay entry, and fixed monthly pay. If you pay 40 cents per mile, then your cost is merely 40 cents per mile. 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. Heres atris breakdown of average trucking cost per mile, along with the. This example used total annual figures to calculate your operating trucking cost per mile. How to calculate revenue and profit per mile rts financial. There are separate software packages to figure out the ifta payments per state that will require every mile to be entered. What is total cost per mile for truckload carriers. Our trucking software helps manage revenue for each truck load transported. Fleettrax premier is the most comprehensive truck fleet maintenance program available for the trucking industry. Taking the costs out fleet management trucking info.
Calculating the real cost of trucking per mile quick. Trucking tools, owneroperator independent drivers association. 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. As a company grows, and implements software and standard processes, the cost of nondriving activities can be reduced significantly by 4. Increase operational performance establish an accurate control of your costpermile, pervehicle. Youre shooting for an area in which you are being paid more than your costs of operation. 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. Without this knowledge, how will an individual know what they need to earn in order to both cover their costs and pay themselves. How to calculate cost per mile for your trucking company rts. 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 milehr, parts inventory control w auto reordering, work pending and campaign. Cost per mile is used by trucking companies of all types to monitor and control various costs.
Ooida fighting for truckers land line magazine land line now ooida pac. You can use a simple form or a computer program to calculate your cost per mile. 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. How to calculate owner operator trucking cost per mile. Owner operator profit and loss spreadsheet truckers trip planning app. If you prefer an easier method, many trucking software programs will do this for you automatically. It is critical to know your costs and to continually search for ways to reduce those costs. Paying a flat permile rate makes it easy to calculate the cost of trucking per mile. 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.
Knowing your trucking companys cost per mile benefits you in many ways. It helps identify spending patterns and areas where you can cut back. The software that gives you the tools to always know what loads are making money and which ones lose you money. Which tires or types of tires are the most costeffective lowest cost per mile to run. At one time, we truckers accepted that as what we had to do it was a lot worse before the ifta. An analysis of the operational costs of trucking american. If it seems high, you may need to take on additional loads to increase your profit and help drive down the cost per mile. Cost to run per mile worlds best tree felling tutorial.
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. Calculating your cost per mile is something that seems difficult at first but is actually pretty simple, if occasionally tedious. To determine the total monthly cost per mile, simply add the fixed, variable and salary costs. Cost of operation spreadsheet tools ooida foundation. 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. Trucking business consulting innovative logistics group, llc. Chad also founded the rate per mile masters group on facebook. 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. 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. Knowledge is power in the fastchanging trucking industry. 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. The tools provided in the ooida foundations cost of operation spreadsheet will help. Salaried calculations are a little more involved, but still not difficult. The cost of trucking operations in the united states vertrax.
Lets say a penny per mile and you cover 70,000 miles a year. 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. What to do about truck driver pay per mile before its too late. Established in 1978, keystone systems has over three decades of experience serving the trucking industry. For both leasedon owneroperators and those under their own authority, knowing your cost of operations is vital to success. Cost of operation spreadsheet for both leasedon owneroperators and those under their own authority, knowing your cost of operations is vital to success.
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. If you learn one thing from this book, that will increase your profits. Owner operator independent drivers association, trucking. 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. However, use the formula the same way if you wish to determine the costing for.