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I cant give a simple formula. The way I do it is I look at my last years, and 5 year average repair cost to determine my estimated annual repairs per machine. It also depends on the driver. My repairs run 30% more on the tractors I dont normally drive (what the hired help uses). For trucks I take fuel cost per mile (avg 15 mpg on $2.50 diesel); 2.50/15. Insurance and taxes per year divided by last years miles driven. Repairs average calculated above divided by miles driven last year. Straight line depreciation, estimated miles life divided by purchase price. Miles per hour divided by my hourly wage. Add it all up and multiply times 110% (10% profit) Add in lodging if needed, and a 'convenience factor'. If someone wants it done now and I have a date tonight, its gonna cost extra for the flowers and the better date Ive got to come up with later. Bottom line with me is $2.00 a loaded mile, and a minimum of $15 for me to start a pickup, $40 for a truck and trailer. There are always people telling me that so and so does it cheaper, my response, then get them to do it. Only had one this year that took me up on it.
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