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Cost-per-mile-calculator
Step 1 of 5
20%
HOW TO USE THIS CALCULATOR
In order to operate profitably trucking companies must first know their “all-in”
cost-per-mile
(CPM). Knowing this cost, is the only way to set a freight rate that will generate enough revenue to pay costs and generate a profit.
Enter your trucking company’s costs in each of the following fields to calculate CPM. Perform your CPM calculation on a regular basis, at least once per month should be the minimum. Be careful to include all costs, but ensure you don’t duplicate costs by including any one expense in more than one field. To calculate your trucking company's unique cost-per-mile, you must consider both
fixed costs
and
variable costs.
NOTE
: costs are to reflect the period you are reporting (ie: one week, one month, one year)
ENTER DATA IN FIELDS:
Use the data from your company’s accounting books and tax preparation reports to enter data in the fields below. Enter numerical values only (do not enter “$”).
COST CONVERSIONS:
Monthly Costs =Annual Cost / 12
Weekly Costs = Annual Cost / 52
Weekly Costs = Monthly Cost x12 / 52
ENTER YOUR FIXED COSTS
Fixed costs are static expenses that your company must pay whether your trucks are hauling a load or sitting idle in the yard. Fixed costs include expenses like insurance, property leases, permits and other services. We've included sample monthly fixed cost numbers in each field below. To calculate your company's unique CPM change each value to reflect your company’s actual costs.
How much do you pay for your truck payment?
If you are making lease or loan payments on your truck, then you can enter that expense here. Otherwise, you can enter “0”.
How much is your trailer payment?
If you are making lease or loan payments on your trailer, then you can enter that expense here. Otherwise, you can enter “0”.
How much do you pay for insurance & medical?
You can include your truck insurance, health insurance, and drug and alcohol testing expenses here.
How much do you pay for your license, permits & registration?
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.
How much do you pay for your office overhead?
You can include your home office expenses or commercial office rent/mortgage payments,. Plus any office personnel wages, supplies, office equipment, utility costs, office phone.
How much do you pay for business development?
You can include your load board, association membership, website marketing expenses, recruiting fees and expenses.
How much do you pay for ELD and home parking?
You can add your monthly ELD and home parking expenses.
How much do you pay for your phone & internet?
You can include your cell phone, landline, and internet expenses here.
How much do you pay for software & services?
You can include your accounting software, Amazon Prime or Netflix expenses here.
How much do you pay for miscellaneous expenses?
You can include training costs, special event costs and any other miscellaneous expenses.
ENTER YOUR Variable Costs
Variable costs are related directly to the operating of trucks. These expenses include fuel, maintenance, repairs, meals, lodging and other costs incurred while on the road. We've included sample monthly variable cost numbers in each field below. To calculate your company's unique CPM change each value to reflect your company’s actual costs.
How much do you pay for drivers’ salaries?
You can include what you pay your drivers here. If you are an owner-operator, then include your pay here.
How much do you pay for fuel?
You can include gross fuel receipts, including taxes and additives minus any fuel surcharge generated for the same period of time.
How much do you pay for maintenance & supplies?
You can include your tires, truck maintenance, truck washes, truck supplies, fuel additives, cleaning supplies, small tools, gloves or sunglasses expenses here.
How much do you pay for truck repairs?
You can include simple/large repairs, body work or corrective action expenses here.
How much do you pay for taxes?
You can include all state and federal taxes plus your quarterly IFTA tax. Divide annual taxes by 12 and quarterly taxes by 3 to get a monthly tax amount.
How much do you pay for travel expenses?
You can include hotel/lodging, meals, shower, tolls, fines and paid parking while on the road.
How much do you pay in fees & professional services?
You can include lumper fees. broker fees, collection fees, quick pay, advance or factoring fees and any professional services you engaged.
How much do you pay in miscellaneous expenses?
You can include any other expenses that you incur while on the road.
ENTER YOUR REVENUE & MILES
To determine your CPM and profits, please enter your monthly revenue and total miles driven.
What was your total in accounts receivable?
You can add up all your invoices and enter it here.
And finally, how many miles did you drive?
You should maintain a driver’s log book (ELD) that includes the date and total miles driven within a 24-hour period.
YOUR RESULTS
The fields below display the calculation results from your entered data.
Your Cost per mile
Your profit per mile
Your profit per month
Your average rate per mile
How Did You Do?
The two most important financial goals in trucking is to
improve profits
and maintain
positive cash flow
to keep your trucks moving. Is your CPM less than your Rate per Mile? The greater the difference, the greater the profits.
How to Improve Profits
Tip #1:
The most effective way to increase your profit is to reduce your highest variable costs. Negotiate better rates with suppliers. 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 paying loads.
Tip #3:
Be flexible. Consider niche freight or lanes that pay higher rates.
Learn more about
how to improve profits
How to Improve Cash Flow
The fastest, easiest way to create and maintain positive cash flow is to factor your invoices to gain immediate access to working capital.
Learn more about
Freight Factoring
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