Miranda, I like how you give this presentation. I've been keeping a spreadsheet for years on my iPad in the truck. I show a breakdown per mile on gross revenue, expenses, and net income as you do with the addition of costs expressed as percentage of gross revenue as well as net income percentage. As my largest expense, I look at fuel 6 different ways, 1) total cost 2) cost % of gross revenue 3) gallons 4) Avg Mpg 5) cost per gallon and lastly 6) cost per mile. I also track my days driving & hours worked from my ELD to arrive at an average profit per day, month, quarter, Y-T-D as well as profit per hour worked. Along with my monthly report, I also do a quarterly and Y-T-D report. All three reports are updated in real time so at any given time I can gauge the performance of my business which is essential when operating in the spot freight market. The beauty about "knowing " my real numbers is that it allows me to make better decisions about the loads I move. When looking at a potential load, by inputing the estimated revenue, miles and expenses into the spreadsheet I can instantly see how moving that load will impact my numbers. I really do wish more truckers would track their performance this way and operate efficiently. As I've always said, just stating your gross tells nothing. I need to see expenses AND miles to get a clear picture of performance. After all, the name of the game is to increase profitability while reducing productivity.
I’m not an expert on flatbeds either, but I’m guessing you want look at manufacturing and construction markets, the industries that move the most raw materials. When they passed that infrastructure bill, it put a lot of union contractors to work for the first time in 2 years. Major cities in the Midwest and East Coast are likely very good for dry van and flatbed, but I think they have bigger and medium sized carriers that are mostly dedicated to them. I’m not totally sure.
Very helpful. You are the only person bringing insights on trucks and trailers. So thank you. Can you also do comparison analysis on orders, backlogs, build rate, inventory, cancellations?
Great breakdown, I've never seen anyone share their numbers so comfortably and speak the reality of the current market. Looking forward to more of your content
thank you for the the number miranda! I have a small dispatch company with multiple Carrier, market wise is tough and thanks to your information ive been able to come up with some ideas for my company!! keep up the awesome job you do!
Thank you for sharing, I had a thought halfway through about considering break even / low paying loads to get you out of a tough market, but once again you were already on top of it. Thank you again for all your efforts!
Very well put together I am doing everything to get myself ready so when time comes for me to hit the road, I’ll be ready and thanks to you and your awesome Ways of teaching definitely gives me more confidence
hi, MIranda! great job! thank you for all you've done. open statistics are our future i suppose) could you explain what the average driver salary and dispatch costs could be as a % of gross income if there is a company driver and an outsourced dispatcher?
Miranda, thanks for another excellent analysis. Very helpful. Have you ever considered starting an online based Bookkeeping and financial analytics service for truckers?
Wonderful! You have no clue how much I've learned from you. Thank you so much. I was wondering if you have team drivers and if the the net income includes the driver's salary?
To your knowledge, Which season in the year is better for each trailers ,,does reefer do good in the winter ? Or it goes by regions each and every year with each trailer?
@@TruckingMadeSuccessful happens 8 out of 10 times. Then I get ones that calls me back "oh we just sold the load for $25 less" after they accept my offer. 🤯
I was hoping to see the salary in "expenses" chart...I'm terrible when it comes to charts and numbers, but to my understanding, if net for dry van, for instance, includes the salary for the driver, it means we're indeed in the doomsday for trucking industry...:/
There is no salary in these numbers as these trucks are operated by owners of the company. However, let's say you are paying a driver 70 cpm- on the dry van your net would be 701.97...before any payroll taxes. Yep, not a great situation
@@TruckingMadeSuccessful ok thanks! But he hasn’t incurred the expense yet right? The fuel cost has to be in November when he actually drives and delivers…. Or did you book accruals?
Other includes IRP renewal, and quarterly taxes. Maintenance is high because our trailer floor had to be replaced due to a wonky load, and a full service of the trailer itself
My authority is brand new too. Only a month old. My policy cost me 12900 for the year with progressive. 1mil Liability 100k cargo with reefer breakdown 25k replacement coverage on my old Freightliner and 40k trailer interchange.
I answered that question in the video :) We paid our 10 months of insurance with 2 months "free" so no insurance expense this month. Insurance for new OO with a new CDL can be upwards of $3k per month.
Hey Mr.s Miranda Could you please make a video about Faltbed and Stepdeck and they are requirments. For example what does ramps mean, some of them says Tarp required some brokers says no tarp. If you ask from driver do you have a tarp he says yes, say same driver no tarp he says yes I don't have a tarp. If could give more details I would be appreciated. Have a good evening. @truckingmadesuccesful
Ramps are just that, ramps used and needed to load and unload a given load. Ramps are pretty expensive and if you don’t have ramps you can’t take that load. Tarping: Most loads require tarping but some don’t. The Shipper decides if they want the load tarped. Watch some flatbed channels and you’ll learn about the art of running flatbed!
The poin is those guys have their own trailers. I really don’t understand PO fresh MC guys who expecting the same money) Those guys always need LOT to move and always depend on drop trailer location. Really wasting time on such people
How do you guys stay alive with running $2.2 per mile this is unsustainable in long run.. if you add interest for truck and trailer minus truck expenses insurance permits , and pay driver 70 cents it’s pretty much zero profit
She did another video breaking down her CPM….they paid cash for truck and trailers and and also paid they insurance upfront…I believe she said they’re cost per mile is like $0.77 cents that’s how they staying alive
Indeed some struggle some gave up like me it is what it is nothing you can do all around I hope things change soon if not am going to donate my truck for my soul since nobody want to buy it well come to trucking Sudden death
‘’Courage taught me no matter how bad a crisis gets ... any sound investment will eventually pay off."
Sounds like plan, how do you put money to work?
@Dan Romero Thanks for replying me, I've heard so many people talk about investment but none had said how to do it right.
Am hoping on you can explain more on how you make extra income from investments
Financial freedom is absolutely the perfect freedom
@Dan Romero This is awesome, please can you be of an assistance to me how can I connect with your broker?
Miranda, I like how you give this presentation. I've been keeping a spreadsheet for years on my iPad in the truck. I show a breakdown per mile on gross revenue, expenses, and net income as you do with the addition of costs expressed as percentage of gross revenue as well as net income percentage. As my largest expense, I look at fuel 6 different ways, 1) total cost 2) cost % of gross revenue 3) gallons 4) Avg Mpg 5) cost per gallon and lastly 6) cost per mile. I also track my days driving & hours worked from my ELD to arrive at an average profit per day, month, quarter, Y-T-D as well as profit per hour worked. Along with my monthly report, I also do a quarterly and Y-T-D report. All three reports are updated in real time so at any given time I can gauge the performance of my business which is essential when operating in the spot freight market. The beauty about "knowing " my real numbers is that it allows me to make better decisions about the loads I move. When looking at a potential load, by inputing the estimated revenue, miles and expenses into the spreadsheet I can instantly see how moving that load will impact my numbers. I really do wish more truckers would track their performance this way and operate efficiently. As I've always said, just stating your gross tells nothing. I need to see expenses AND miles to get a clear picture of performance. After all, the name of the game is to increase profitability while reducing productivity.
Yes! This formula definitely has stopped me from accepting loads that aren’t worth it after all expenses!!
I’m not an expert on flatbeds either, but I’m guessing you want look at manufacturing and construction markets, the industries that move the most raw materials. When they passed that infrastructure bill, it put a lot of union contractors to work for the first time in 2 years. Major cities in the Midwest and East Coast are likely very good for dry van and flatbed, but I think they have bigger and medium sized carriers that are mostly dedicated to them. I’m not totally sure.
I'm flatbed and we are very steady!!! Thx for info!
Thank you for sharing Miranda. Your company is blessed to have you! You are helping more of us than you know! Thanks!
Very helpful. You are the only person bringing insights on trucks and trailers. So thank you.
Can you also do comparison analysis on orders, backlogs, build rate, inventory, cancellations?
Great breakdown, I've never seen anyone share their numbers so comfortably and speak the reality of the current market. Looking forward to more of your content
thank you for the the number miranda! I have a small dispatch company with multiple Carrier, market wise is tough and thanks to your information ive been able to come up with some ideas for my company!! keep up the awesome job you do!
Thank you for sharing, I had a thought halfway through about considering break even / low paying loads to get you out of a tough market, but once again you were already on top of it. Thank you again for all your efforts!
Very well put together I am doing everything to get myself ready so when time comes for me to hit the road, I’ll be ready and thanks to you and your awesome Ways of teaching definitely gives me more confidence
I believe some drivers stay south for the winter and that will open up some lanes in the reefer market in the MW to NW. 👍
I’m a freight rep in California and there are several loads leaving California moving east(daily).
Another great video! Thank you for your hard work compiling this information.
Another awesome analysis! Thanks😊
Insightful, thanks!
hi, MIranda! great job! thank you for all you've done. open statistics are our future i suppose)
could you explain what the average driver salary and dispatch costs could be as a % of gross income if there is a company driver and an outsourced dispatcher?
Hi, are you worried about the upcoming diesel shortages? Do you think is going to have a negative impact on your business?
Nice job ❤
Miranda, thanks for another excellent analysis. Very helpful. Have you ever considered starting an online based Bookkeeping and financial analytics service for truckers?
Thank you :) I have not considered that at this time no
I would love to see this comparison for a whole year But thank you for all the information
Will make one at the end of the year!
Wonderful! You have no clue how much I've learned from you. Thank you so much. I was wondering if you have team drivers and if the the net income includes the driver's salary?
I dont have team drivers and these are numbers for the owners who do owner draws :) No driver salary here
Amazing 😊
To your knowledge, Which season in the year is better for each trailers ,,does reefer do good in the winter ? Or it goes by regions each and every year with each trailer?
PA is one state that has decent rates for dry van
Shtuchka matematichka👍🏻
Miranda!!❤❤
It does take hrs and hrs to find 1 decent load. Sometimes after 20+ calls and still end up with nothing for the day.
Dont you love the "This was covered" 2 seconds after the load comes out?
@@TruckingMadeSuccessful happens 8 out of 10 times. Then I get ones that calls me back "oh we just sold the load for $25 less" after they accept my offer. 🤯
A lot of super truckers would add a new word to their vocabulary soon - REPOSITION 😅
I was hoping to see the salary in "expenses" chart...I'm terrible when it comes to charts and numbers, but to my understanding, if net for dry van, for instance, includes the salary for the driver, it means we're indeed in the doomsday for trucking industry...:/
There is no salary in these numbers as these trucks are operated by owners of the company. However, let's say you are paying a driver 70 cpm- on the dry van your net would be 701.97...before any payroll taxes. Yep, not a great situation
You say early on that the Flat Bed guy grabbed a load that delivered in November. How is the income and expense treated here for that future load?
Goes under October. Income is counted from pick up dates
@@TruckingMadeSuccessful ok thanks! But he hasn’t incurred the expense yet right? The fuel cost has to be in November when he actually drives and delivers…. Or did you book accruals?
Where is dispatch/factoring cost though?
Factoring cost is under Other for the flatbed. No factoring for reefer or DV. Dispatch not included in this as many OOs dont use dispatch services.
Hey are you still making that how to start up a trucking company course?
Yes, still working on it! :)
Why is the maintenance so high for the dry van and what is included in Other? They almost account for $7K in expenses
Other includes IRP renewal, and quarterly taxes. Maintenance is high because our trailer floor had to be replaced due to a wonky load, and a full service of the trailer itself
3079 dollars in insurance for the flatbed. Is that monthly 3079 every month? Thats crazy expensive!
Every month. Newer authority!
My authority is brand new too. Only a month old. My policy cost me 12900 for the year with progressive. 1mil Liability 100k cargo with reefer breakdown 25k replacement coverage on my old Freightliner and 40k trailer interchange.
Don’t think there will be a rush for the holidays
Don’t have your hopes up for peak season. Economy is terrible
And is your dry van hazmat because I looked at my average per mile for October all miles is 3.07 per mile
No we dont do hazmat
Thank you for answering back And I really do like your Content
Why $0 insurance on the dry van? Also, how much can a new owner op expect to pay for insurance on one truck (dry van) typically?
I answered that question in the video :) We paid our 10 months of insurance with 2 months "free" so no insurance expense this month. Insurance for new OO with a new CDL can be upwards of $3k per month.
Because you're an idiot who didn't watch the video.
Hey Mr.s Miranda
Could you please make a video about Faltbed and Stepdeck and they are requirments. For example what does ramps mean, some of them says Tarp required some brokers says no tarp. If you ask from driver do you have a tarp he says yes, say same driver no tarp he says yes I don't have a tarp. If could give more details I would be appreciated. Have a good evening. @truckingmadesuccesful
Hi there! Unfortunately I don't have experience with flatbeds or step decks yet but once I do I will make more videos about this type of equipment
Ramps are just that, ramps used and needed to load and unload a given load. Ramps are pretty expensive and if you don’t have ramps you can’t take that load. Tarping: Most loads require tarping but some don’t. The Shipper decides if they want the load tarped.
Watch some flatbed channels and you’ll learn about the art of running flatbed!
@@RaoulThomas007 If you know the flatbed chanels please give the link. Thank you in advance
@@TruckingMadeSuccessful Thank you. Wish you best for channel and your subcribers become a million at least🙏
@@КирпичКамень-я8щ If Miranda allows the mention of other channels, I’ll name some of them.
How much of the net income do you get? If you don’t mind me asking.
It varies from month to month
Let’s gooo!
The poin is those guys have their own trailers. I really don’t understand PO fresh MC guys who expecting the same money) Those guys always need LOT to
move and always depend on drop trailer location. Really wasting time on such people
Where is your accent from?
Half Ukrainian half Georgian :)
@@TruckingMadeSuccessful Good job, you really know your stuff!
Seriously? Flatbed should be the worst
I do flatbed, market flatbed is horrible
How do you guys stay alive with running $2.2 per mile this is unsustainable in long run.. if you add interest for truck and trailer minus truck expenses insurance permits , and pay driver 70 cents it’s pretty much zero profit
She did another video breaking down her CPM….they paid cash for truck and trailers and and also paid they insurance upfront…I believe she said they’re cost per mile is like $0.77 cents that’s how they staying alive
Indeed some struggle some gave up like me it is what it is nothing you can do all around I hope things change soon if not am going to donate my truck for my soul since nobody want to buy it well come to trucking Sudden death
Which load board u use
Love the content. Are you able to share this spread sheet if I send you an email?
Sure!