When owning your own trucking company one of the most crucial parts of the business is determining profitability. Although it may seem obvious, it can be a very daunting and complicated process. Tracking money in and money out is a key part to calculating revenue and profit per mile. This will help determine you company's financial health.
Always begin this process by tracking any of your expenses. After analyzing your miles and learning your cost per mile you can then begin by examining your companies revenue. By simply subtracting the cost per mile from the revenue per mile will begin to determine the amount of profit for every mile your trucks drive. If you have trouble calculating these numbers you can always consult a certified public accountant to help you. In turn, once you have these numbers start to find ways you can grow the profitability for every mile driven. Are there quicker solutions to reduce downtime or are there ways to haul more for each mile driven?
How This Helps Your Business
Knowledge is power in the fast-changing trucking industry. You need to identify what markets to serve and which lanes that will generate the most revenue. It is equally crucial to know how much money your trucking company needs to charge in order to post a profit. Understanding how to calculate cost, revenue and profit per mile arms you with information you need to successfully negotiate rates with shippers and brokers.
There are several aspects to financial management for your trucking company. It all starts with knowing what it takes to be profitable. Calculating cost, revenue and profit per mile is a key step to putting your trucking company on the road to success.
May 01, 2019
Tarpstop, a Toledo-based tarpaulin & load covering company for the trucking industry, will be hosting a grand opening at the newest location in North Jackson, Ohio on May 23rd. This newest location is meant to make Tarpstop more accessible to their customers that have had to travel from the East Coast.
Toledo native and operator Trey Newlove will be managing and overseeing the new branch and all its going on. Having worked with the company for over 7 years since 2012, he has worked in almost every position and is uniquely qualified to grow the branch.
“I'm very excited to be apart of Tarpstop's newest branch. I was trained in every department in order to provide the best customer service, the best quality and the best knowledge the industry has to offer. I plan on building a team with the same knowledge I was taught in order to service all of our customers' needs and wants. It's truly amazing to see how much our company has grown and I'm very thankful that I was given the opportunity to be apart of it. ”
- Trey Newlove
The grand opening will provide an impactful experience for all customers to see just how far Tarpstop has come and what the new location has to offer. The new location is setup with 11,000 square feet of floor space for customers to be serviced in every way possible. Hot dogs, burgers, chips, drinks and more will be served that day for all the customers stopping by.
TARPSTOP TOLEDO, OH
12000 WILLIAMS RD
PERRYSBURG, OH 43551
TARPSTOP YOUNGSTOWN, OH
11550 Mahoning Ave.
North Jackson, OH 44451
6 JunJune 06, 2018
This year the annual International Road check for 2018 has been announced and it will take place from June 5 to June 7. It is a three-day inspection event that happens across North America. According to the CVSA, during the 72-hour period, an average of 15 vehicles are inspected every minute.
The focus of International Roadcheck 2018
Although inspectors generally conduct Level-1 inspections, each year the CVSA also puts extra emphasis on specific aspects. In 2016, the special focus was on tires. In 2017, the focus was on cargo securement. This year, the focus is going to be on hours-of-service compliance.
Things to remember are that AOBRDs are allowed to be used instead of ELDs up until December 2019 if fleets were using them before the 2017 ELD deadline of Dec. 17. And the latest guidance allows a motor carrier that installed and required its drivers to use an AOBRD before Dec. 18, 2017, to install and use a new ELD-capable device that runs compliant AOBRD software until the December 2019 full compliance deadline.
What Might be Seen in a Level 1 Inspection
Level-1 inspections are considered the most thorough. It is a 37-step procedure which includes an examination of vehicle-related violations as well as driver compliance and driver-related violations.
Driver inspection includes:
- Commercial driver license (CDL)
- Hours-of-Service (HOS) compliance
- Medical examiner’s certificate
- Possible alcohol and drug use
- Records of duty status (RODS) compliance
- Seatbelt usage
- Skill performance evaluation (SPE) certificate
- Braking, electrical, exhaust, and fuel systems
- Cargo securement, hazardous material, and cargo tank specification compliance
- Coupling and lighting device operations
- Driveline/driveshafts and steering mechanisms
- Emergency exit and windshield wiper operations
- Open-top trail
30 AugAugust 30, 2017
Soon to take effect on December 16th, 2017 will be the new ELD or (electronic logging device) mandate. With this new rule drivers will no longer be required to keep and maintain paper logs. They will, however, be required to maintain supporting documentation and submit them to their carrier or, for owner-operators, keep them on file. The new mandate, however, will not apply to drivers of vehicles built before the year 2000 — a change made from 2014’s proposed version of the rule. This still holds some challenges for owner operator's and how they are going to adjust to this.
With this new rule, one of the biggest concerns on the horizon for drivers is downtime and service. Time on the road is now a chief concern, especially when getting either a small patch or service to their system. It is incredibly important that drivers start to make sure the service they are getting when down is considered a top priority. Some of the most important topics to research are not just how much a system might cost, but after you have the system how much does it cost to repair, how long will you have to leave the system with that company and do you get charged for service immediately or only for the work done. These are just a few of the questions to think of when doing your research.
With the time getting closer and closer to this mandate becoming official Tarpstop wanted to reach out to say we've heard the concerns about this new rule. This is why Tarpstop wanted to state that it is now more than ever we stand behing our pledge to always be "Running Through Walls" for our customer's. We know just how important it is to make sure that you're not just buying a product but you are also investing in a relationship. Interested in learning more call one of the below locations today.
June 6th through 8th is sure to be an interesting time. The CVSA will be conducting its 30th annual International Roadcheck. Make sure that all your tags are properly showing their load limits and that everything is strapped down correctly. They will be checking everything from brake systems, cargo securement, coupling devices, driveline/driveshaft, exhaust systems and more. This year the CVSA will have a heavy focus on cargo securement. That was also the focus in the 2015 Roadcheck and more than 2,000 citations were issued.
Inspectors from the CVSA will primarily be conducting the North American Standard Level I Inspection, which is the most thorough roadside inspection. It is a 37-step procedure that includes an examination of both driver operating requirements and vehicle mechanical fitness. International Roadcheck is the largest targeted enforcement program on commercial motor vehicles in the world, with nearly 17 trucks or buses inspected, on average, every minute in Canada, the United States and Mexico during a 72-hour period. Since its inception, more than 1.5 million roadside inspections have been conducted during International Roadcheck campaigns.
THINGS TO REMEMBER
- In Canada, any sort of damage to the strap such as cuts or wears is a violation.
- Knots are not acceptable! Tie downs along with other securing devices must be secure.
- Make the tag visible! If it is not visible, it’s out of service.
- Always use a rated strap as your main source of cargo securement.
Interested in learning more. Call one of the below locations today.
TARPSTOP TOLEDO, OH
12000 WILLIAMS RD
PERRYSBURG, OH 43551
Some of the most dependable securement straps to use when transporting cargo are Ratchet Straps. Unfortunately, due to sharp corners and constant rubbing these straps are usually some of the first items that need to be replaced. However, with proper care and minimal effort, a well-made ratchet strap can be utilized for years. Below are a few tips that we have put together on how to maintain your strap and keep it going.
Keep your ratchet straps out of the sun. If one of your ratchet straps gets wet or damp, allow it to dry thoroughly before storing it away to prevent mildew. Sunlight has ultraviolet light which has the ability to make the fibers in the strap incredibly brittle as well as discoloring them. As they break down they potentially lose their strength and durability.
When using straps, apply lubricating oil, such as dry silicone spray or WD-40 to keep the moving parts of the ratchet handle assembly working. One thing to always keep in mind is not to get the lubricant on the webbing, as it will attract dirt and eventually cause the strap to bind. Our Exaloy straps are double tagged to allow the working load limit to be seen and easily accessible from any angle.
Don't forget to always inspect the straps during and after use. Look for frayed fibers where a sharp edge may have come into contact with the strap. To prevent further damage from corners, use rubber corner strap protectors; they are cost-effective and protect not only the strap but the cargo you are transporting.
Interested in learning more. Call one o
April 21, 2017
According to the Federal Motor Carrier Safety Administration, when transporting cargo there are generally three methods approved for containing, immobilizing, and securing that cargo. Additionally, specific securement standards apply for certain loads, including loads that are commonly carried on flatbeds, such as lumber, building materials, metal coils, paper rolls, etc, so be sure to research and comply with any specific requirements that may apply.
In general, all types of cargo must meet one of the following three conditions:
Cargo is fully contained by structures of adequate strength. This situation applies to sided vehicles – think van trailers, as tarp systems obviously do not provide adequate restraint against movement of cargo! Ensure that the following conditions are met:
- Cargo cannot shift or tip.
- Cargo is restrained against horizontal movement by vehicle structure or by other cargo.
- Forward force: 0.8 g (80%)
- Rearward force: 0.5.g (50%)
- Sideways force: 0.5 g (50%)
Cargo is immobilized by structures of adequate strength or a combination of structure, blocking, and bracing to prevent shifting or tipping.
To prevent shifting or tipping, cargo is immobilized or secured on or within a vehicle by tiedowns along with:
- Friction mats.
- Other cargo.
- Void fillers.
- Combination of these.