Return on Investiment

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5 questions Using Your Own Business Calculations

For each item below, keep the following in mind - If you could ride in each of your vehicles every day, your people would be more conscience of direct routes, realistic lunch and break hours nearer to the job, less personal usage / time, less lingering after the job is complete, avoiding "personal jobs-on-the-side", and other factors (speeding or poor driving, stopping at questionable establishments, etc.)...

Question 1
A 15% reduction in vehicle mileage driven, at $1.00 / mile, for vehicles averaging 1,500 miles per month is a cost reduction, per vehicle, of $225 per month (this cost is far more significant with long-haul activities and driver pay-by mile).

Calculate your average vehicle operating cost per mile times X% (that amount saved per month due to more direct routing, lunches nearer to the job site, reduced personal use or side jobs, etc.). If you could ride with each person, every day, what differences would be realized here?

Question 2
30 additional billable minutes each day, per person, at $50/hour adds up to more than $1,100 per month in increased revenues, without additional hires and added equipment.

How many extra billable minutes per day could you realize, per vehicle, if you rode with them every day? Using your billing rates, calculate this newfound revenue per month.

Question 3
Assuming that just 2 hours of overtime per week can be eliminated, at a $21/hour overtime rate, this figure would equate to over 8 overtime hours reduction per month, or a cost reduction of $56 per month per person.

Using your most cautious estimates, calculate your cost reductions per month due to increased staff productivity

Question 4
Watching and managing your employees speed, more efficient vehicle usage (means less miles driven and at risk on the road), monitoring that vehicles are not used personally or stopping at bars, and instant theft recovery of vehicles and their contents, all add up to reduced insurance rates with most carriers. $15/month per/vehicle may not seem like much but it all adds up.

Estimate your insurance cost reduction per vehicle. [Figure X% (usually 5 - 25%) savings per vehicle as indicated by your insurance rep].

Question 5
10 extra-billed minutes each for just 6 service stops out of an entire week equals an extra hour of billings per week, 4.2 hours per month, possibly per person! At $50/hour, that's over $200 a month.

Corrected billing (actual time on-site versus rounded (usually down) estimate time by rep) - Estimate how much corrected billing you should realize each month and keep in mind that these objective figures (the vehicle stop reports) also make for better customer relations and dispute resolution.

ROI

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