March 21, 2023
Having an accurate understanding of your operating expenses is critical to running a profitable trucking business, especially during a market downturn. SmartHop’s Expense Calculator is a free trucking expenses spreadsheet built to help you better understand how much it costs to run your business. Simply add in your expenses and the sheet will update to calculate your operating cost per mile, total monthly expenses, and average monthly profit after expenses. This will empower you to know how much you’ll need to bring in every month to turn a profit.
The amount of money you bring in every month is not the same thing as your take home earnings. To better understand what you’re earning, you first need to know how much it costs to run your business.
It’s normal for the spot market to fluctuate. When RPMs are low, you’ll need to understand the minimum amount of money you need to earn each month to cover fixed expenses from insurance costs to parking fees.
Understanding your operating expenses can help you to evaluate areas where you can potentially save money.
See how SmartHop can help you maximize your profit potential with every trip to build a healthier trucking business.