Is it worth it, finanically speaking, to O/O...???

If one wants a toy you're right but my idea of a "toy" is something fun. You know like a convertible sports car, boat, etc.

 

I purshased my 1st truck when I was 23 in january 1980. That right 1980. Been leased, my own Authority pushing 20 years. I own one that I drive and have lease guy thats been with me for 7 or 8 years now. I can give some help if you like. Nobody really help me in the beginning. It was a hard row to hoe.

 

we could take that advice anywhere

there are some who graduated college, who work at mcdonalds
there are some who went to med school and work at walmart

but there are some millionaires who started out with pennies

i dont see how any "company driver" can save up to buy a truck

i know O/O's that clear $2k/week,

now, how many company drivers can make over $1,500 on a consistent basis?

most are barely making $1k, and some are even happy with $400/week

a man can live in fear his entire life, or he can always take a chance, hopefully, an educated chance, but a chance, nevertheless

i started out with nothing, i have my own truck and trailer and cant complain about my income, not one bit

my truck could have broken down on day one or day 100 or even tomorrow, such is life

but i am not going to cower in life over what could have happened, one way or the other

 

Its an attitude and passion you have for business. Drive a business with a truck. If just a job a large company can suck the life from it, till you hate it, then back driving a wheelbarrow.

 

Please tell me how one can clear $2k a week with a dry van or reefer? Also the OP asked if it's financially worth it to go O/O and based on what I have seen and heard it's not. I knew or met not one guy selling his truck to go back to being a company driver. If it was so lucrative why would they do that?

 

You need to look at that closer.

Along with the income statement.

That "$3000" is NET profit. After ALL expenses, household AND business are paid.

That would be AFTER paying myself a $3000 monthly salary.

AFTER paying $1500 equipment payments.

AFTER paying 13% to F2F

AFTER paying all the fuel for the month.

AFTER all the fixed AND variable expenses are paid.

And that IS a typical month for me. Or at least it WAS a typical month for when I was pulling a DRY VAN.

Now that I pull a reefer, I make more money AFTER all the expenses are paid. My capital equipment expense went up only $130 per month when I bought the reefer.

My Variable fuel expense for the reefer has only added $400 a month. Granted, this has been winter, it's likely been running less than summer, so I can see it going up to about $650 a month.

My increased GROSS revenue went up about 65 CPM on 7000 miles on the reefer compared to the dry van. That's about $4500 MORE in gross revenue. To cover $780 in increased expenses.

Another $3700 in NET profit over what I was making of $3000 NET profit after expenses with a dry van.
And it's allowed me to spend $1200 to $2600 to make repairs to the equipment to MAKE IT RELIABLE to the point that I don't spend much on maintenance anymore.

I spend less than HALF on a used truck as I did on a NEW (er) truck.

That means I am making (Net profit dry van) $3000 + (Increased Net Profit)$3700 = $6700 monthly.

Or about $1675 WEEKLY earnings AFTER expenses.



That must just blow your preconceived notion to pieces that someone can come in and buy a truck and make money with it and not spend a lot of money doing it.

 

You can net a taxable income if of .80 a mile if ypu do things properly as an O/O with your own authority. And feel very comfortable on saying there are many who net .80 per mile taxable income who are leased to certian carriers. I suspect they pull there own trailers. I cant say for leased trucks pulling company trailers? I am asuming pulling non OD loads and driving 100 - 120 k miles total empty and loaded total.

 

I try to keep it under 7000 miles a month to run. I don't care to work that hard.

And I do own my own trailer.

I just cannot fathom WHY someone would NOT own their own trailer unless they needed specialized equipment.

 

Household expences are personal should and do not have a thing to do with the business. If you have 3 carpenters making 20 an hour, how in the world does what they do with their pay have anything to do with the business if they are self employed or not. What you do with your net is personal and the market ,ie truck rates, cant and has not ever adjusted rates based on an operators abilty to make good or bad business or personal decesions.

 

I went back and corrected my numbers. Cuz you are correct. I pay myself that $3000 salary. It pays ALL of my household expenses. Meaning, the truck has turned a $6700 monthly profit. Or about $1675 a week net profit.