As you know, the trucking industry is highly competitive. You may have gotten into the business because you love to drive, but in this industry, the businesses that thrive are the ones that realize that trucking is a business, and driving is just a part of it.
Like any business, you must know what your revenues, expenses and profits are. That gets trickier, though, when everything in trucking is gauged on a per-mile basis. When you've got an opportunity to get a load, you need to know exactly what rate you need per mile to make money. And in this fast-paced industry, you need to know it up front - otherwise you'll either lose money, or lose the load while you're busy punching a calculator. The big operations know these numbers inside and out, and if you want to survive, you need to also.
Know Your Expenses
We often think about the operational expenses, like fuel, labor, driver and tolls, but there’s also maintenance, truck payments and insurance, which are trickier to think about on a per-mile basis. Those fixed expenses might not be the sort of thing you think about when the trucks are out on the road, but they cut into the money you're making while driving.
Sometimes you find yourself in places where rates are tough. Maybe you’re in a weak market or your primary load fell apart and you have to go to plan B. When you’re running those lower rates, you have to know what your break-even point is. You have loaded miles and you have empty miles, and the expenses need to include both.
How to Keep Track
So how do you keep track of it all? You could devise systems through spreadsheets and do the complex calculations yourself - but do you really have time for that when you're out on the road?
Getloaded Ops does all of this for you automatically. Every load is entered into Getloaded Ops, and the program runs in the background, tracking the miles for each trip. At the end of every month, we can easily calculate the miles for all your trucks, and once you put in your monthly expenses, you’ll know the expenses per mile exactly. With Getloaded Ops, there’s no extra work involved.
Now when you’re in the fast-paced environment of booking freight, you’ll know exactly where you need to be. When you’re in a tough market and you take a load, you can at least know that you’re covering your expenses.
Getloaded Ops is available on your computer or smartphone, wherever you have Internet access. Try our free one month trial today.