Unfortunately, this has led many trucking companies to failure. The ones who are not tracking and controlling their operating expenses and processes might soon face going out of business.
Remember: The trucking industry is a tough market, and in order for your trucking company to stay the longest in this industry you will have to pay attention on your bookkeeping and on the calculation of your costs per mile.
Thereupon, the best way for trucking companies to calculate their revenue and profit per mile is by calculating all the costs per mile- including the fixed costs, variable costs, salaries and so on. If you try to calculate just one cost per mile you won’t be in the position to see the real picture.
Thanks to the technology nowadays trucking company owners can enjoy the benefit of using accounting software or similar products that will help in reporting all costs for a small amount of money.
Further, in this article, you will have the chance to read and to learn more information how you can calculate the revenue and profit per mile for your trucking company. So, let’s see!
Know Your Fixed Costs
Running a trucking company and not knowing what your real costs are can lead you to improper calculation of the real revenue and profit that your fleet is making.