profit and loss

i havnt owned a truck since 95 just drive for some one else no more 24 7 headaches

 

I own my truck, and I am leased to Swift.
Your profit per mile is very close to mine. I average 70 cpm net.
My loads pay me $1.24 per mile (includes the FSC) so my expensives run about 54 cpm. That includes 10 cpm for maint.

I think you are doing well.

 

You guys need to refigure your profit and loss statements, theres more than just fuel and maintenance to figure, food on the road, tax and a hole list of other things, thats the problem with so many o/os they don't know there true cost to run the truck.

 

not counting the deductions that you can take for doing office work at your kitchen table. Or the deduction for just parking your truck in the driveway.

 

And PAYING yourself a WAGE , When I read "so my expensives run about 54 cpm " its like ok and your paying yourself ?

My CPM includes , fuel , license , insurance , wage , TRF ( truck replacement fund as I have no truck payment ), cell phone , wash jobs , oil changes , grease jobs as well as $ on trailers.

 

Sorry but I would like to know what your expenses are that total .54cpm. We take away .10cpm for maintenance. So that leaves you with .44cpm. That may or may not cover your fuel cost. I am sure you have no plate of permits to buy but if your truck is paid for you still need to set aside replacement cost, your wages and taxes plus their is other things you need to figure. I bet if we really got a good cost per mile $1.24 is not all that good. If I hauled for that with my expenses per mile being a $1.00 a mile and that doesn't include my wages I would only be making .24 cpm for driving it talk but going back twenty years. I am sure you are figuring in Swifts miles and not hub miles.

 

Not trying to be rude, however you need to rethink what you are doing.

Base line for all trucks should be $1.15 per mile.
Cost per mile for fuel and wages should be around $.90 however most O/O "DO NOT" include what they should be paying themselves to drive the truck.
Then you have to consider IRP plates, insurance and truck maintenance. That should add another $.25 per mile however this one changes since mileage is not a constant.

Don't forget, eventually you need to replace the equipment. This could add another $.10 per mile.

Therefore the average cost per mile to run a truck is around $1.25.

This is only if you own the equipment. However some people don't and they should add another $.25 per mile for monthly payments. Now you are sitting at $1.50 per mile.

 

I agree on some of your things but your $0.25 per mile for truck payments yeah if they are over $2000 a month maybe but someone might have a $500 a month payment. Also his plate is paid for and he set's aside $0.10 cpm for maintenance cost and his insurance I am sure is pretty low so with those three things wouldn't even come close to your figuring of $0.25cpm. My cost are at $1.40 a mile and that includes what I pay myself to drive the truck on all miles. My profit above that varies depending on a lot of things, but it isn't to bad.

 

Now you're gettin' it!

There's a very good cost per mile spreadsheet on the OOIDA website.