buying my own rig??

I agree with several here that you need more time as a company driver. But when you do take the plunge, be frugal and wise. Its very easy to start spending those big checks when they clear. But if you're not paying at least 30% back to the truck for permits, repairs and maintenance, you'll be out of business and bankrupt in less than six months.

 

It seems so many want to talk about percentages of gross that you need for different expenses. I personally think this method of approaching Cost of Operation can in itself lead to failure.

IMHO, every single expense category should be broken down to CPM (Cents Per Mile) since this is how we get paid. Figuring your costs by percent, monthly or annually can lead to a large amount of confusion since your gross income will change by period.

When you know the CPM of each expense, all you have to do is look at CPM of each load, your YTD (Year to Date) loaded and your loaded/empty average.

This being said I thought it would be both informational and educational to post costs as a percentage of gross. This is my business model and individual numbers may vary. It is for running with your own authority. It breaks out driver wages and benefits as net without taxes. Taxes (Federal, State and Social Security) are accounted for in the tax breakout.


Fuel 32%

Repair/Maintenance/Tires 7%

Miscellaneous supplies 1%

Driver Wages and Benefits 24%

Equipment Payment/Replacement 10%

Insurance/License/Permits/Fuel Tax 6%

Income Tax/Social Security/Medicare 8%

ROI/Profit 12%