formula to figure bottom $ per mile??

[redhotxpress]

i'm wondering what formula people use to figure their bottom dollar they'll take per load. we don't own our truck so there's no payment that we have to worry about but we do pay fuel and tolls. we get 60/40 split of $1.35/mile. so how do some of you figure your bottom dollar when accepting a load? also when do you think it is reasonable to ask for full deadhead or a bonus or when do you just flat out say "NO". i know this topic has been covered but i'd just like to see if we are being reasonable. so anyone who cares to share is appreciated. just when i thought i knew the answers things change. thanks for the imput.
TC

 

[davekc]

They have a great worksheet at www.ooida.com to figure your CPM.
Just plug in your numbers and work it from there.







Davekc
owner
22 years
PantherII
EO moderator

 

[LDB]

The first and most important part is using the spreadsheet Dave mentioned to know the bottom line. In your case, you just have to know your mpg to figure out your cost per mile. Once you know how much it costs per mile to run then you have to factor in location, board position, day of the week (especially if solo), prior experience in that location (if any), and perhaps recent runs made. If you are sitting in Laredo, solo, on a Monday, you know it could be Friday before a load comes along with enough time in it for you to run it solo. Otherwise you're looking at taking it to Dallas and swapping and being stuck there. In a worst case scenario I might run for full expenses for all miles plus personal expenses providing the destination is a known good area. That way nothing comes out of my pocket at all and instead of sitting for a few days at my expense I'm in a place where I can get a good run. If I've just finished several really good runs back to back then I might wait out a 34 hour restart to see if I get something. There just isn't a one size fits all answer that I am aware of.

Leo Bricker, 73's K5LDB, OOIDA Life Member 677319
Owner, Panther trucks 5508, 5509, 5641
Highway Watch Participant, Truckerbuddy
EO Forum Moderator
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[nightcreacher]

just fig what you would make as company drivers,and with the expedite you have to figure by the month, not week,as some weeks are great some are not.Then add this to your expenses,if load pays for all this your in business
first week out is the tricky week,as if that week is great,the rest of the month is easy to figure

for instance:if you ran 20000 miles,and as a company driver you would make,$8000.00,you figure what it would cost to run the 20000 miles,then add your $8000.00 to that,and then divide,this into the dollars the truck grossed
might look like this;
20000 miles divided by 6 miles per gal.x $2.50/gal=$8325 for fuel+$8000.00 for wages=$16325 divide this by the 20000 miles,=81 cents per mile,so your loads would have to pay your share $.81/mile
@$1.35/milex60%=$.81/mile
your fuel mileage dictates your revenue,to fast less income

 

[tmbm]

I set up a spred sheet this year that is based on last years numbers. It includes not only paid miles, but allows for out of route miles (I use a percentage). I also figure MPG, and current national ave. for fuel cost (this I have to change weekly in the formula). I feel that gives me a more accurate view of what I will be spending on fuel, and my drive time. That will give me a base figure, then before accepting an offer I consider the area I am in, where the load will take me, and time involved for any extras required for the load. In my opinion there are too many factors to say this $X.XX is what I will or will not run for and have that number set in stone. BTW just for curiosity's sake I also take the expected time involved for load (miles/ave MPH and add 1.5 hrs for p/u, delivery and load securement) and divide that by 1/2 the pay (team) to figure out $/hr. I know there are many things we do that we are not paid for, so this is not a determining factor for me, just something I do for fun.