Planning for future O/O

Ok, I know and have been reading through the numerous posts, threads concerning becoming an O/O, which is worth more than any of these Mills charge for tuition. I have one question that I haven't been able to find an answer to yet.

I'll be starting my career within the next week or so, driving for a small family company pulling an end-dump. They pay percentage, not CPM. What I want to do, from the start, is to start figuring and saving towards purchasing my own rig. I've read the break downs, based on CPM, ie; .02 for maintenance. I'm setting up a spreadsheet, to track the number of miles I drive, the weight of the product, and then what it pays. Would this be a somewhat accurate way to produce some numbers on what I need to be setting aside?

For example if the truck is paid $1,000, I just use the miles I hauled it to determine a figure for the CPM? I'm thinking that carriers may reduce the pay by some amount, then pay a percentage of that, or use that reduced figure to pay a CMP.

I'll be training, by follow-the-leader, with an O/O leased on to this company. So I know I can get the actual numbers on what the shipper is paying, and where to look for it on the BOL.

I'm new to this whole thing, but I want to start from the get-go on looking towards owning my own rig, tractor and trailer. I may be nuts, but I think doing this from the start, I may stand a better chance of achieving it.

 

Thanks for both your replies. What I would probably do is continue with the same company. They haul salts from the Lyons / Hutchinson KS mines, along with rock, flyash, potash, ect.

The driver that will be training me, has been leased on to this same company for 19 yrs now. He seems to be doing quite well. He runs a real nice Pete 379 and his own end-dump trailer. He's a real good friend of mine, known him for a very long time.

While it's way too premature to know exactly what truck/trailer I want, I do however know that if at all possible it will be a Pete, either 379 or 389, 13spd. I'll have to see what make/model of trailer they're using, how they handle.

I guess what I'm more interested in now, is a way to figure out, if possible, what the CPM would be if being paid on percentage. Is there an accurate way to determine that?

 

I'm not in a hurry, though it may sound like it. I just was thinking why not start running some numbers from the start. I wouldn't entertain going O/O without having at least 2yrs driving. Will I like it? You're right can't make any sound decision on that yet. However I have one advantage going into this, something that most all you don't. The guy that's training me, trained me as a deputy years ago. He's an O/O, been leased onto this company for about 20yrs now. To you that may not mean much, but this is a man that I trust with my life, have had to. He's the type that if things are a little iffy, not going as he likes, he takes his toys and goes home. For him to stick with them for that long, something's got to be right about it.

I'll be pulling end-dumps, for a small mom/pop operation (55 trucks). They also have pneumatics. It's not skateboards, what I wanted, but we all have to start somewhere.

That's what I was thinking, but since it's percentage, any deadhead miles is not paid so to speak, It may be figured into the percentage somehow, but I doubt it. So I just ignore any deadhead miles? I'll be running about 50-100 deadhead miles a day. I'm not sure if I'm explaining of where my question is, should or should not be. I think to arrive at some accurate figures, I would somehow have to account for those miles too, where with percentage pay, they're not part of the equation.

Heck, I probably will not be out all week for a couple of weeks, I know the guy training me is home almost every night, so I'll have to follow his routine until I'm finished with training.