How to Calculate Cost Per Mile as an Owner Operator (Free Calculator)

🎁 Download the FREE Cost Per Mile Calculator: https://sovrandispatch.com/calculator 📞 Want help finding better-paying loads? I will dispatch your truck 100% FREE for 14 days! Book a call with me: https://sovrandispatch.com/ 📋 Summary In this video, I show semi-truck owner operators exactly how to calculate cost per mile and find your Target Rate Per Mile (TRPM), using the free cost per mile calculator I use myself. You'll see every expense that belongs in your trucking cost per mile, from truck and trailer payments, insurance and fuel to dispatch fees, factoring fees, deductions and reserves, and how to turn that number into the minimum rate you need on every loaded mile to cover your bills, your deadhead miles and still pay yourself the monthly profit you want. I also reveal how your deadhead percentage changes the rate you need per loaded mile, and how to check any load on the load board in seconds so you stop hauling freight that leaves nothing at the end of the month. Here’s what I cover: ✅ How to calculate your cost per mile as a semi-truck owner-operator, from fixed and variable costs to dispatch and factoring fees ✅ How to estimate your fuel cost: total miles ÷ MPG × your diesel price ✅ What Target Rate Per Mile (TRPM) is and how it tells you the minimum rate to accept on every loaded mile ✅ How deadhead miles raise the rate you need (15% vs 25% deadhead in a real example) ✅ How to check any load on the load board: divide the rate by the loaded miles and compare it to your TRPM If you’re trying to stop hauling loads that leave nothing at the end of the month, this video will help you find your true cost per mile and the minimum rate you need to accept on every load. I’ll walk you through the free Cost Per Mile calculator line by line, using an example month ($30,000 gross revenue, 10,000 miles, 15% deadhead and a $6,000 monthly profit goal), so you can enter your own numbers tonight and know your cost per mile and target rate before you book your next load. ⏱️ Chapters 0:00 Do you know your cost per mile? 0:36 Why gross revenue is a vanity number 1:12 Inputs: gross, miles, deadhead and desired profit 2:04 Fixed and variable costs (fuel estimate) 3:29 Services: dispatch and factoring fees 4:26 Driver pay, deductions and reserves 5:11 Your results: cost per mile and Target RPM 6:21 How deadhead changes your rate (and how to rate a load) 7:28 Recap: the two numbers every owner-operator needs If this video helped you, hit the LIKE button, SUBSCRIBE to the channel, and share it with another driver who's a veteran owner or is thinking about making the move to owner-operator. Stay safe out there and I'll catch you on the backhaul! ⚠️ IMPORTANT DISCLAIMER This video is for educational and informational purposes only. Nothing contained herein is to be considered legal or financial advice. The information presented in this video is gleaned from reputable publications, industry professionals, and government websites. The source material is posted below for reference or further reading. Source Material: Free Cost Per Mile Calculator (used in this video): https://sovrandispatch.com/calculator IRS, About Form 2290, Heavy Highway Vehicle Use Tax Return: https://www.irs.gov/forms-pubs/about-... IFTA, Inc. (International Fuel Tax Agreement) carrier information: https://www.iftach.org/carriers/ The dollar figures in this video are an illustrative example. Your own costs, rates and results will differ. #OwnerOperators #Semitruck #TruckDriver #Dispatcher #TruckingBusiness #TruckingIndustry