Is your transportation company performing as well as its industry peers? You reviewed your financial statements from your accountant, and you are making money. That is great, but what else are the numbers on the paper telling you?
Utilizing benchmarks is an easy way to determine how well your transportation company compares to others in your industry. Below are benchmarks regarding five major subgroups in the transportation industry:
- Public School Bus Services
- Chartered Bus Services
- Local Freight Trucking
- Long-Distance Freight Trucking
- Airport Operations
Note: Every transportation company is unique, and the below standards will not apply to all. These metrics should be used as a guideline. Statistics and information provided from the IBISWorld Industry Reports, April 2020.