Some numbers for new O/O

Discussion in 'Ask An Owner Operator' started by DUNE-T, Aug 23, 2018.

  1. Dadetrucking305

    Dadetrucking305 Heavy Load Member

    954
    2,558
    Sep 15, 2011
    Cibolo,Texas
    0
    I made $110k a year just running hotshot in Texas.General freight non oilfield.How is it that this equation only makes 120k?
     
  2. Truckers Report Jobs

    Trucking Jobs in 30 seconds

    Every month 400 people find a job with the help of TruckersReport.

  3. Eamac2004

    Eamac2004 Light Load Member

    85
    59
    Jan 20, 2015
    0
    Because most new o/os dont know how to change a tire. Parts are cheap. Its simple, dont buy a truck if you dont know how to use a wrench.
     
  4. Fabulous Maximus

    Fabulous Maximus Light Load Member

    85
    129
    Jun 29, 2019
    0
    Can’t you reduce much of the wash/maintenance/storage costs? At least for the first year or two, I understand wanting to invest in commercial property to have your own shop once you have 3+ trucks, but that isn’t really necessary starting out.
    Edit: because I’m a noob to the multi quote system, haha.
    So, 265K+ a year in expenses? This can’t be right.... why is driver pay even included in ‘expenses’? I would personally take around 25% of net income per month to put in my personal account and live as spartan as possible (meaning, I would hope to barely even touch that. 75% goes into business account; Granted, I am single with no kids and I plan to remain that way for a long time.
     
    dwells40 Thanks this.
  5. DUNE-T

    DUNE-T Road Train Member

    6,366
    14,939
    May 10, 2015
    Detroit, MI
    0
    Whatever fits your needs. A family of four in the Midwest can spend a $100k per year in living expenses. A single guy can spend only $25k and invest the rest in the business.
    Driver pay is included in the expenses, because it's a business. You gotta calculate your expenses "pretending" that you have an employee
     
    KB3MMX, Bean Jr., dwells40 and 3 others Thank this.
  6. Fabulous Maximus

    Fabulous Maximus Light Load Member

    85
    129
    Jun 29, 2019
    0
    Thanks for the quick reply, i can see where the family would be a killer in this situation. I’m just happy I’m a loner and don’t have to deal with this problem.
     
    dwells40 Thanks this.
  7. JBLogistics

    JBLogistics Bobtail Member

    8
    2
    Jul 2, 2019
    0
    Was that GROSS?
     
    KB3MMX Thanks this.
  8. 77fib77

    77fib77 Road Train Member

    8,543
    48,546
    Jul 7, 2010
    St Louis
    0
    Well having a 4k truck payment plus a trailer payment and insurance payment would be hard right now. 6500 before turning the key, yikes.
     
    Bean Jr. Thanks this.
  9. Trucker186

    Trucker186 Medium Load Member

    447
    365
    Jan 29, 2019
    0
    That's why you buy a used truck in good shape like a old tmc truck and same for trailer then you have a small or no payment.
     
  10. KB3MMX

    KB3MMX Road Train Member

    3,057
    2,572
    Dec 29, 2014
    Orrstown, PA
    0
    Isn't repeatable for a business model, more of a play on luck.
    When you get that 15k repair bill and then another big one a month or two..or six later on that cheap truck.. it isn't profitable or reliable. Just another failed carrier.
     
  11. Trucker186

    Trucker186 Medium Load Member

    447
    365
    Jan 29, 2019
    0
    Who on earth gets a 15k repair bill sounds like a failed driver unless you don't take care of the equipment and make sure it's ready before you leave meaning have a good mechanic go over it and you'll have a good truck. Everybody who has had good success I've talked to started used heck one guy started with used and created a 300 + truck company and is a multime millionaire and never finished high school. Parts are cheap compared to labor that's why I advocate learning how to repair your own equipment. My grandfather's truck (he's a non o/o) sat at KW for a week and they didn't even touch it. They had brand new trucks and they have been in the shopen way more than the 2002 Cat that truck all the ever did was normal maintenance and it just kept running and it's the spare truck now. He went for his personal best time out of shop 2 weeks without a issue. There's nothing they can find on the truck to fix it.
     
  • Truckers Report Jobs

    Trucking Jobs in 30 seconds

    Every month 400 people find a job with the help of TruckersReport.