Highest Paying O/O Company?

Discussion in 'Ask An Owner Operator' started by M.Enterprises, Apr 17, 2009.

  1. M.Enterprises

    M.Enterprises Medium Load Member

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    Yes the 70k includes repairs for the truck, the truck purchase, the trailer purchase, the interest on loans,"bailout" money for Dad, authorities, tickets, taxes, business start up costs.

    My business plan was designed for success and actually worked for the starting month. I revise it as I learn new information. What more can I do?

    I'm not taking to the idea of selling the truck because it is one and the same with bankruptcy. There is no sell out option here.

    I know you may not have known this previously, but selling the truck is throwing in the towel 2 months early. Nothing I am interested in. Business wise, or family wise.
     
    Last edited: Apr 21, 2009
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  3. Pawnd

    Pawnd Medium Load Member

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    There are times to fight for survival and times to end. As I have learned over the years, you can fight to long. Knowing when to get out and minimizing losses is part of being in business that is not taught anywhere. It is something only learned by experience.

    Losing less is always better than ALL.

    If you are going to proceed, you need to calculate a break even point. I use 150K miles for variable expenses, and 75K miles for fixed. You should know your fuel economy by now, take actual and subtract 0.5 mpg and use that number. I use $3.00/ gl for fuel cost. The point is you need to come up with a monthly number for your gross receipts. Then you can calculate the number of miles necessary to reach your break even point at any freight rate.

    Any omissions or oversights, will result in losses. My method is to provide a cushion, if you run the numbers to tight, anything unexpected will be painful or worse. When you have a business there is always miscellaneous expenses popping up. Until you have several years experience these are difficult to account for.








     
  4. rjones56

    rjones56 Heavy Load Member

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    You have almost no chance of hiring a competent reliable driver with one truck that you can`t/won`t drive yourself.By the time everything is paid each week what little profit you see will probably be spent on antacid meds or sleeping pills.
    If I needed a driver (for 1 truck) i would want family first.You didn`t mention whether or not you`lltry other options such as doing your own maintenance to save money.You will probably find that after your other career that 1 truck will comsume a great big part of your leftover life. If its heading for bankruptcy now wait 2 more months with the wrong person driving .Having owned several trucks and going thru all the B.S. that went along with employees, I don`t envy your position.Good luck.Let us know how it turns out.
    By the way,do you mind telling me what type(make and model,also) of equipment you bought??
     
  5. M.Enterprises

    M.Enterprises Medium Load Member

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    Knowing when to get out and minimizing losses is part of being in business that is not taught anywhere.

    It is one of the first things an entrepreneur looks at when forming a business plan. It is called an exit strategy. Such information is available on Wikipedia, for those that have not attended Universities across the world.

    Sorry, Pawnd, but this post sounds like a weapon of mass depression. The nay saying is falling on deaf ears, as the logical choice would be to change from the only attemped strategy among dozens of options.
     
  6. Old Man

    Old Man Road Train Member

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    If you decide to lease to a company you will have to have a driver first that they approve. If you start today it will probably take 4 weeks before the truck starts making money. You need to make a decision soon.
     
  7. jlkklj777

    jlkklj777 20 Year Truckload Veteran

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    The best paying carrier I have found to date is an outift called SLT. A division of Expressway Group. They haul explosives for the government. I believe they pay o/o's between $1.40 and $2.03 per mile.

    Company drivers are compensated up to $1.06 for DOD (Department of Defense) loads.

    The catch is you must be able to pass a background check and obtain security clearance.
     
  8. M.Enterprises

    M.Enterprises Medium Load Member

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    Wow that is incredible! I have a plan underway and am confident it will not only solve my problems, but improve my lot in life. I expect a total turnaround within 6 months.

    That idea is something I will look into in the future, though.
     
  9. MedicineMan

    MedicineMan Road Train Member

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    You also have to run a TEAM because these loads require one person to be on the truck at all times.
    and the rates are down considerable from what they have been in the past. the arms and amunitions hauling is not immune to the effocts of the undercutting scumbags
     
    jlkklj777 Thanks this.
  10. Pawnd

    Pawnd Medium Load Member

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    It was not meant to be a "post of mass depression", only to sit back and do a reality check. Having an exit strategy is great, knowing when and if to execute it is another. I was not nay saying, only responding to the information you posted. The reality is I truly wish you well.
     
  11. M.Enterprises

    M.Enterprises Medium Load Member

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    The reality is I truly wish you well.

    Thank you! Things are looking up already.:biggrin_25519:

    BTW, the exit strategy would include cues of when to execute each step. There would be multiple steps in shutting down a business. Just because you start the process does not eliminate revival. Exit strategies are complex, and often need to be amended.

    My business model is a living document. For once I see some light at the end of the tunnel.
     
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