Create Your Own Towing Invoice Template for Planning

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Towing invoice template for planning

Creating a towing invoice template for planning can simplify your billing process and help you maintain professionalism in your business dealings. With the right tools, you can easily manage your documents and streamline the signing process, enhancing productivity and efficiency.

Using the towing invoice template for planning with airSlate SignNow

  1. Access the airSlate SignNow website using your preferred web browser.
  2. Create a new account for a free trial or log into your existing account.
  3. Select the document you wish to upload for signing or review.
  4. If you plan to utilize this document in the future, consider converting it into a reusable template.
  5. Open your uploaded document to make necessary adjustments, such as adding fillable fields or incorporating specific information.
  6. Sign the document yourself and place signature fields for your recipients to fill out.
  7. Click on 'Continue' to finalize the setup and dispatch an eSignature request.

By leveraging airSlate SignNow, businesses can easily send and electronically sign documents, providing an intuitive and cost-efficient solution that enhances operational efficiency.

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Towing invoice template for Planning

[Music] [Applause] hey if you are looking to start a trucking company and you are looking for financing to maybe purchase a truck or just for working capital to get the business started and your bank or lender or even potential investor has asked you for a set of financial projections and you're kind of in the deer in the headlights phase and trying to figure out how to put together some numbers for your trucking business well you've come to the right place because we have built a trucking financial projection template specifically for you so my name is adam hooksen i'm the co-founder of projection hub and over the last decade we've helped thousands of entrepreneurs create financial projections for investors and lenders but specifically today we're talking about our trucking template which is built really well for startup trucking businesses in particular and and also can be used with some customization and work for existing trucking businesses as well so i am going to dive into the template and show you how it works and how to fill it out if you haven't already gotten the template you can look at the link in the video description below and go grab the template and then get started filling it out with us so the first thing i want to show you here is really kind of starting with that with the end in mind this is kind of your your end product at the end of filling out the different assumptions in the template you're going to get these nice charts and graphs and tables that you'll be able to provide to a lender or potential investor and kind of get a get a glimpse of what those look like here so the other thing you're going to get is five years of projected financial statements so you'll have a projected cash flow five year projected income statement five year projected balance sheet and then you'll have the income statement cash flow and balance sheet for five years but in a monthly format so if you need that monthly detail for your lender especially in that first year or first couple years we'll have that here as well so now let's jump back to the beginning here and show you how to actually fill this template out in order to produce your projections so the first thing you need to know is that any cell that's highlighted in blue is an assumption you can change and we've kind of pre-filled this template out for for a startup trucking business in mind and i'll show you how we've got this filled out so we're saying this business is going to be starting here april 1 2022 and you can change that date you're going to have a personal investment of 20 000 so we're assuming you're putting in your own money of 20 000 now if you have other potential investors you could add those investors in these cells with the dollar amount that they're planning to invest now the next thing here i want to show you this accounts receivable terms so this is saying that your 100 of your sales are paid upon delivery now that's probably not normal for most trucking businesses and so what i might actually recommend is changing that to zero and saying instead 100 of sales are on a net 30 payment meaning you'll be paid in 30 days you don't have any inventory most likely we have a spot to add fixed assets so if you have a building or other equipment other than the trucks you can add those items here but i've just put these as zero so if there's a zero here that means we're assuming there's no no buildings no leasehold improvements no other equipment so then down here in this table is where you add the trucks and so i have added five trucks and i'm assuming that you're going to start by purchasing one truck and so we've got one truck here in this drop down we have you can select purchase or lease so i'm going to say you're going to purchase the first truck for 80 000 and um years until sale so you'll use it for 10 years we're saying and after the 10 years it'll be worth 10 000 we're saying that and month one of the projection here is when you'll be purchasing [Music] and we have the amount financed per truck so let's assume we're going to get dealer financing for sixty thousand and then you're gonna put in that twenty thousand dollar uh personal investment to cover the the other the rest of the eighty and we're gonna that dealer financing is gonna be at eight percent and we're going to pay that back over 60 months now what i've done here for these truck 2 through 5 i've actually selected that these will be leased so you could choose to purchase all the trucks you could lease all the trucks but i wanted to show you examples of both and instead of starting out because we're kind of again thinking about this as a startup trucking business so we're saying well maybe for the first year we just have the one truck and you're the owner operator and you're operating that truck but hopefully you grow and so here we have month 13 so the first month of year two is when we're assuming you're gonna lease that second truck and then the first month of year three or month 25 137 and 149 so basically each year you'll add another truck is the way we've built this out and again if you if you don't have if you plan to only just have one truck forever all you have to do is just um you know hover over this or you know select a cell and hit delete and you can just delete all of this so that that would clear that out for you and then we have again we're assuming 60 months of lease payments and here's the monthly lease payment that we're assuming per truck of course prices for leases could vary depending on what kind of lease you get what kind of truck you get and then a lot of different factors so keep that in mind and then down here we put in a small 25 000 sba loan and this was really the thought is to have some working capital for that first few months of insurance and fuel and just operating costs in the first month or so while you wait to well you start driving loads but maybe you don't get paid for a little while so that's what this loan here is for and you can add more loans you can add you can change this and make it a larger loan you could also make this the loan that you use to purchase the truck and so instead of putting amount financed here at 60 000 you could just make this loan here 60 or in this case maybe 85 000 from one sba lender perhaps instead of doing the dealer financing this is the idea with this is i guess more more so like dealer financing is the idea so and then once you do that you can jump over to our input revenue and cost of goods sold so here we're just entering in some assumptions i'm going to zoom in just a little bit all right so we're saying that we're driving five days per week and there's kind of two different types of driving we could do dedicated routes and we're saying the maximum miles driven for dedicated routes would be 550 miles and of course you could change that to be more or less and then max miles driven for just kind of over the road or spot freight routes would be 600 miles so we started off here by filling out assumptions for dedicated routes so i'm assuming maybe a lot of times when when people get into the business they don't start off with a dedicated route they might just start by taking loads off of load boards and kind of doing that spot freight work and so i'm saying for the first few five months here we're saying zero percent of your capacity is going to be used for dedicated routes but then in month six we're saying okay maybe maybe you are able to get a dedicated route and half of your time is now used for dedicated routes [Music] so once you do that once you fill that in you're going to be able to see you know how many actual models are driven per day for the dedicated routes now one thing i want to show you to keep in mind here so in this back up here on row 12 we have number of trucks and this would also you know basically mean each truck would have a driver as well so you can see that it jumps from one to two because in month 13 we buy that second truck or we lease the second truck in this case and then month 25 we go from two to three so that's all being automatically taken care of up here and then you know we're assuming okay once you have two trucks well now you'll be able to do two dedicated routes or we're multiplying these these numbers here by the number of trucks that you have in your assumptions now here you can enter in your average revenue per mile for your dedicated routes and a growth rate in that rate per mile that you expect to earn driver pay per mile so if you are an owner operator and you're not really paying yourself per mile you could just put zero here and then basically any of the profits would just be yours if you're paying a driver you know i would put in their paper mile if you are paying them some fixed dollar amount per week or month i would try to kind of calculate what their rate per mile is and and then put that in here i think that's a little bit easier in the model to to just calculate it that way so for example if um you're paying someone 4 dollars a month and they're to drive um you know four thousand miles to keep it easy math then you'd be paying them a dollar per mile and so you should just put in one dollar per mile so hopefully that makes sense now here are some of the other variable costs per mile now these expenses you know can vary depending on what kind of truck you have what kind of driving you're doing certainly the price of gas is has been going up a lot lately and and so you know keep an eye on on these numbers and make sure that you think these are going to make sense for your particular truck your particular routes and and that sort of thing but these are trying to get as close to kind of industry average at least for the current state of things as as a time we're recording this video okay so that will give you your projected dedicated route revenue and dedicated route cost of goods sold and your cost of goods sold includes the labor for the driver and the variable costs like fuel and maintenance now we get to the over the road or the spot freight loads that you'd be picking up off of a load board and what we're saying here is that so half of your time is i guess half of your time starting in month six is going to be used for dedicated routes the other half will be available for spot freight and we're saying of that other half that's available we're going to fill 65 percent of it we're actually going to drive 65 of the available miles now maybe you think you're going to be able to just be completely busy all the time so you could jump this up to you know 100 or 95 that sort of thing so that will help you project miles per month and average revenue per mile here for spot freight again you can adjust this based on what kind of driving you're doing and and what the market is in your area driver pay same thing as before fuel costs same thing as before um and that will give you your total revenue for over the road work and then we combine it all here for the dedicated routes and the over-the-road work here now jumping over to our input other expenses tab so here you can see that we have a number of different expenses entered kind of some standard expenses and you can have them as fixed dollar amount or a per truck dollar amount so for example a lot of your insurance costs are going to be you know they're going to go up with each truck so you might have so for those expenses that that increase with the traditional truck we have selected per truck so these are expensive insurance expenses per truck again you need to get quotes for your specific truck your specific type of driving whether you're driving you know hazardous materials things could change here on the type of driving you're doing so get specific quotes for these if you want to be really accurate otherwise you might be able to find good estimates for the kind of work you're doing online or use these kind of as a baseline estimate numbers the other thing here i have a facility rent a spot for facility rent but we put that at zero because we're kind of assuming maybe you don't need to rent a facility at least not to start now let's say maybe as you add more trucks maybe in year four you do want to rent a even just a parking lot or something to keep store the trucks maybe that's 2500 dollars a month and that just needs to expand those cells so we can see that and then since we don't have a facility we won't really have utilities for the facility but maybe again maybe in year four we add a facility so maybe we have some white utility expenses as well and then here i just put in the first few months you have might have some legal or other startup costs that are unexpected as you just get the business started and so we put in a some some buffer here for startup expenses now lastly we're moving on to the input salaries and owner draw tab and we're kind of assuming that you're probably not going to have any employees to start with when there's just one driver there's probably not need for a dispatcher but maybe in year the beginning of year four there might it might make sense because now you have several drivers and so we have a dispatcher position that we entered in here starting in month 37 so you can change the month that they start and and if the position is going to end before the 60 months or the five years of projections you can change that as well and then we have just one dispatcher that we're hiring so we just put one here and you can add other positions that you would have here as well so again if you're an existing trucking business and you already have staff positions you can use this template fill out your uh you know existing positions and you know your existing expenses your existing routes and number of trucks and loans and that sort of thing it's just we have built this kind of out of the box for a brand new startup trucking business but there's no reason that you wouldn't be able to make this work for an existing trucking business as well so that once we fill out that salaries tab that brings us all the way back to where we started and we have a set of projections and you can see here based on the assumptions that we put in total revenue in the first year 342 000 with just under thousand dollar profit uh we're growing in the second year up to uh over a hundred thousand dollar ebitda which just means earnings before interest tax depreciation um of your vehicles so that is really the whole process and you should be able to then take this file and if you wanted to you can send this directly to a lender or potential investor the other thing you might want to do is you might want to hide these input assumption tabs if just from a presentation perspective so what you can do is right click the tab down here and then click hide and now if you ever wanted to get that tab back or let's say the lender says hey when i you know i want to see your assumptions you can right click click unhide and then select any of the tabs that you want to unhide and show those again so what you might do is you may end up hiding each of these input tabs so that when the lender or investor opens the file what they're going to see is this kind of at a glance tab summary tab of your projections and then definitely keep the these tabs available and open as well all right that's it if you have any questions feel free to leave a comment down in the comment section of the video below or reach out to us at support projectionhub.com you

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