This is a bittersweet episode. Bitter, because the US Economy and trucking industry are going through an incredibly difficult time. Sweet because March was the best month Haulin Assets has ever had. Before we get into the episode, Craig and I talk about the state of the economy and the challenges we are facing because of the coronavirus pandemic we are all going through.
First, I don’t want to downplay how difficult a time this is. But… I am an eternal optimist, which I think is very helpful if you are an entrepreneur/business owner. I think there are several reasons to be optimistic about the future. I list some of them below and we talk about them during this episode, specifically some of the resources I have found to help me.
1. We are all in this together.
2. This economic situation occurred and the difficult business circumstance is no fault of your own. Most of the businesses that provide you services understand that and are very willing to work with you.
3. There are lots of ways you can get help from the government to the companies that provide you services:
- Government loans and grants
- Payment deferments from lenders
- Help with insurance
What To Expect From Episode 45
March was really good, in fact, it was the most profitable month we have had. Freight was moving well, and I stayed busy the entire month. Here is a quick overview. Craig and I talk about all the details during the episode. Scroll to the bottom and you’ll see copies of the Profit and Loss Statement and the Balance Sheet.
- Total miles ran – 12,086
- Deadhead miles – 602 (5%, right where we want to be)
- Total revenue – $22,408.00 (Best month ever. I had one month where total revenue was higher, but a chunk of that was because of lumper fees. If you take out lumper fees and look at just freight hauled, it was the best month ever.)
- All-in rate-per-mile – $1.85 (Not as good as it had been, but not too bad, either.)
- Full days on the road – 14
- Partial days on the road – 8
In the end Haulin Assets realized a profit of $8,224.22, the only number that really matters. That is a pretty good month. Hopefully, we’ll see more of those in the future.