I'm asking for some assistance to see if what I am thinking makes sense. I am preparing to lease and have been crunching some numbers taken from a different drivers settlement sheet and adding my own numbers where applicable.
I have figured this out on 2500 miles a week as I would surely hope I'd be running more.
Took my fixed costs (truck payment, insurances, and misc) = $1023/wk
Took that and divided that by 2500 and came up with .41cpm
I then added maintenance and fuel tax and extra maintenance account (for piece of mind. A little extra towards the buisness never hurt) We arrive at (.52cpm) fixed operating cost
I will be receiving fuel discounts through company but figured it @ $3.00/gal but company average is $2.50 right now. I know this will fluctuate as will my MPG which I estimate at 7mpg (2016 T680 w/Paccar) We arrive at a fuel charge of .44cpm
That gives me a total operating cost to the truck on 2500 miles at .96cpm
If we boost that to 3000 miles my operating costs drop to .88cpm
On 2500 miles pay to the truck would be .06cpm + FSC
On 3000 miles pay to the truck would be .14cpm + FSC
Anything over 3000 miles a week would just sweeten the pot.
Now I have estimated on the higher side all my costs so my actual operating cost should be lower. My question is am I doing this correctly to determine my operating costs?
Took weekly fixed $1023 and divided that by 2500 = .41
Added .11 for maintenance and arrived at .52
Fuel: I took 2500 and divided by 7mpg = 357.14 gals
Divide that by price per gal. In this case $3.00 = $1071.43 fuel cost
Fuel cost $1071.43 divided by miles 2500 = .4285 rounded up to .44 for my own estimated costs
Which is how I came up with .96cpm operating costs for the truck.
Does this seem correct?
Thanks
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Working the numbers!!!
Discussion in 'Lease Purchase Trucking Forum' started by PXI Incorporated, Sep 16, 2015.
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Are you planning on paying a salary to yourself or "the driver"?
blacklabel and PXI Incorporated Thank this. -
Also, are you factoring in your fuel surcharge? Employment taxes? Health insurance? Who is tagging the truck? Is there an escrow? Are you setting aside more money than a maintenance account to cover hotels, business expenses and missed income at home in case of a lengthy breakdown?
Hard to tell because your fixed weekly expenses aren't broken down by line item.PXI Incorporated Thanks this. -
Does your pay come out of the .06cpm?
blacklabel, Smooth_Operator, PXI Incorporated and 1 other person Thank this. -
One thing I have learned from reading these forums, never depend on the FSC to pay your expenses or yourself! It changes and it's not a guarantee, especially if fuel prices keep dropping.
Ok big boy and PXI Incorporated Thank this. -
KB3MMX and PXI Incorporated Thank this.
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The fuel I kept separate as it is and will fluctuate.
The pay to myself will be minimal as I will be investing most of any profit back into my business plan.
I have a unique opportunity as I owe nothing else. I have no family at home, I have no bills. I figure if I can show a true profit at $1.02 mile then I can flourish at $2 and even better at $3.
Let's just call what I'm about to do "a social experiment" lol!!! -
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This will be no different. I will be placing whatever income minus very humble living expenses (food, shower) back into my company so as to advance it as quickly as possible -
The maintenance is a flat rate paid per mile. As far as parts being thrown at issues, I won't allow it. That's my business and unneeded costs are not part of my plan. I have a network of resources and knowledge that will minimize this from happening including but not limited to diagnostics software as well as professional mechanics which happen to be personal friends and available to me 24/7. My truck will be diagnosed prior to making arrangements to be towed to local shop for repair and I'll have a pretty good idea of what needs to take place. I'm not OK with how these shops just waste our hard earned money.TruckerNerd Thanks this.
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