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  • 11.19.19
  • Factoring Basics
  • ,
  • Fleets
  • ,
  • Owner Operators

Freight Invoice Factoring – Know the Pros and Cons

If you’ve been in the transportation industry for a while, you’ve heard of factoring. It is far from a new financial service. And there’s a reason it’s been around forever: … Continue reading

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Author eCapitalPosted on 11.19.1911.22.19Categories Factoring Basics, Fleets, Owner Operators
  • 10.08.19
  • Factoring Basics

Top 10 FAQs about Invoice Freight Factoring

We factor a lot of freight invoices for transportation companies and truckers and therefore get a ton of good questions thrown our way. Here are the most common questions we … Continue reading

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Author eCapitalPosted on 10.08.1910.08.19Categories Factoring Basics
  • 08.27.19
  • Factoring Basics
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  • Fleets
  • ,
  • Owner Operators

How To Start A Trucking Company With Just One Truck

Starting a trucking company is a big decision. Becoming a business owner operator is, without a doubt, a huge responsibility, and taking the first steps can feel overwhelming. Take a …

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Author eCapitalPosted on 08.27.1909.23.19Categories Factoring Basics, Fleets, Owner Operators
  • 08.27.19
  • Factoring Basics
  • ,
  • Fleets
  • ,
  • Owner Operators

When will your business benefit from freight factoring?

Working in the trucking industry is no walk in the park. Everyday demands keep you busier than you ever thought you’d be. There’s so much to do: Finding loads Hauling … Continue…

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Author eCapitalPosted on 08.27.1909.23.19Categories Factoring Basics, Fleets, Owner Operators
  • 07.23.19
  • Factoring Basics
  • ,
  • Fleets
  • ,
  • Owner Operators

Calculate Your Cost Per Mile to Maximize Profits

In business, we know that profits are everything. As an owner of a trucking company, making sure you exceed your break-even point is crucial to staying on the road. One … Continue reading

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Author eCapitalPosted on 07.23.1909.23.19Categories Factoring Basics, Fleets, Owner Operators
  • 07.08.19
  • Factoring Basics
  • ,
  • Fleets
  • ,
  • Owner Operators

How To Choose The Right Factoring Company

There are so many freight factoring companies to choose from that it can be overwhelming. So, how do you decide who to work with? Choosing the right freight factoring company … Continue reading

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Author SophornPosted on 07.08.1909.23.19Categories Factoring Basics, Fleets, Owner Operators
  • 07.01.19
  • Factoring Basics
  • ,
  • Fleets
  • ,
  • Owner Operators

Freight Invoice Factoring 101: Solving Your Cash Flow Problem

Managing cash flow is crucial for your trucking business. Truck payments, fuel, maintenance, payroll, insurance, and taxes are costs that don’t go away. We know you need a steady income … Continue reading

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Author eCapitalPosted on 07.01.1909.23.19Categories Factoring Basics, Fleets, Owner Operators
  • 05.20.19
  • Factoring Basics
  • ,
  • Fleets
  • ,
  • Owner Operators

20 Easy Ways Trucking Companies Can Increase Profit Margins This Month

You’re a great truck driver. You know how to choose the best routes, are always reliable and deliver on time, every time. But it takes more than being a great … Continue reading

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Author SophornPosted on 05.20.1908.01.19Categories Factoring Basics, Fleets, Owner Operators
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Cost-per-mile-calculator

Step 1 of 6

16%
  • Your Fixed Costs

    Fixed costs are expenses that your company incurs whether your trucks are hauling a load or sitting in the parking lot. Fixed costs include expenses like insurance, property leases, permits and other services. We've included the national average for fixed costs numbers below. Please change each value to reflect your costs and see your results in real time.
  • If you are making lease payments on your truck, then you can enter that expense here. Otherwise, you can enter 0.
  • If you are making lease payments on your trailer, then you can enter that expense here. Otherwise, you can enter 0.
  • You can include your truck insurance, health insurance, and drug and alcohol testing expenses here.
  • You can include your annual vehicle inspection, IRP renewal, tractor & trailer registrations, driver's license renewal, state business annual report, UCR and HUVT 2290 expenses here. To get your monthly expenses, just divide the total by 12.
  • You can add your monthly ELD and home parking expenses.
  • You can include your cell phone, landline, and internet expenses here.
  • You can include your accounting software, Amazon Prime or Netflix expenses here.
  • You can include your load board, OOIDA membership or website marketing expenses here.
  • Your Variable Costs

    Variable costs are those that your company spends in operating its trucks. These costs include fuel, maintenance, repairs, meals, lodging and other expenses incurred on the road. We've included the national average for variable cost numbers below. Please change each value to reflect your costs.
  • You can include your office supplies, postage, office equipment & accessories or educational classes & materials expenses here.
  • You can include your tires, truck maintenance, truck washes, truck supplies, fuel additives, cleaning supplies, small tools, gloves or sunglasses expenses here.
  • You can include your IFTA, tolls or scale expenses here.
  • You can include hotel/lodging, shower, paid parking on the road or meals here.
  • You can include simple/large repairs, body work or corrective action expenses here.
  • You can include your monthly fuel expenses here.
  • You can include any other expenses that you incur while on the road.
  • You can include what you pay your drivers here. If you are an owner-operator, then include your pay here.
  • Your Revenue

    To determine your profits, please enter your monthly revenue and total miles driven. We've included the national average numbers below to get you started.
  • You can add up all your invoices and enter it here.
  • You should maintain a driver’s log book that includes the date and total miles driven within a 24-hour period.
  • How do you compare to the national average below?

    National Flat Bed Rates: $2.11
    National Reefer Rates: $2.07
    National Van Rates: $1.77
    Source: DAT

    Congrats! If you were able to meet or beat it.
    If not, then here are some tips you might consider:

    Tip #1: Negotiate better rates. Keep tabs on fuel pricing, supply and demand trends, and other influencers so you are prepared when negotiating rates.
    Tip #2: Provide superior customer service and build relationships with brokers and shippers that offer the best loads.
    Tip #3: Be flexible. Consider niche freight or lanes that pay higher rates.
  • The most effective way to increase your profit is to reduce your highest variable costs. Review each item to identify areas where you can eliminate small, needless expenses. It's easy to blow $5 to $10 without thinking about it.
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