Fuel: What does it mean to you?
For many owner-operators, fuel is simply their largest annual business expense - a necessary evil on the path toward earning a living in trucking.
However, when you dig deeper, fuel can mean different things to different drivers:
Beyond being a large, unavoidable business expense, fuel is an owner operator’s biggest controllable expense. This gives you the opportunity to manage it in different ways depending on the economic dynamics you are in, as well as what is most important to you in your business and personal life.
Some see fuel as an expense that can essentially be ignored during times of high freight demand - potentially leading to higher revenue and profit.
For others who understand and manage their business costs well, fuel can be an expense that can be used to justify spending more time at home instead of on the road.
While still others work hard every day to minimize their fuel cost and save the most money possible on their biggest expense.
At ATBS, we see fuel as the single most dynamic expense that owner-operators manage while running their businesses.
We’re introducing a new 12-part series - this being part one - discussing fuel and understanding what it means to you and your business.
We hope you’ll follow along in our series to gain a better understanding of fuel and how it affects the businesses - and lives - of owner-operators.
Here are a few subjects we’ll be covering in the 12-part series:
Why are fuel prices increasing, and what to expect in the near future regarding prices
How to understand and analyze your biggest expense (fuel) as a business owner
Comparing your fuel spend vs. other owner-operators and industry trends
Learning great habits to help you reduce fuel costs
How trip planning affects fuel, and how to maximize daily revenue for your business
Resources for fuel cost reduction
Understanding fuel surcharge and how it affects your business’ cash flow
Our goal is to help you understand what fuel means to you and help provide you with the tools and knowledge you need to maximize its value for your business.
To read the next article in the series, click here!