I want to register an o/o company, I am living in Queens New York, anyone gives me a suggestion should I open a trucking company in NY or NJ?
Some numbers for new O/O
Discussion in 'Ask An Owner Operator' started by DUNE-T, Aug 23, 2018.
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bigguns Thanks this.
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Risk vs. reward. In 25 years with a company I had 0 risk and about the same reward. Now I have plenty of risk and plenty of reward. No going back for me. I have some money saved and other safety nets in place now that I'm older and attempting to be wiser.
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wow thanks for the great break down. I appreciate your time and thoughts.
At the end of the day will I have enough work to cover my expenses right? What would you suggest for guys just want to work with Amazon or Convoy?
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By these numbers might as well lease a truck to the spot market... I mean is that even possible? -
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First time uploading pics. Looks like I hit the button to many times. Anyhoo y’all look at these numbers and tell me what you think. She says she has 250 owner operators that are tickled pink to be running for this company. I’m still trying to figure out where the $1000 went from the freight rate to the settlement rate.
Bean Jr. Thanks this. -
Coffey, LameMule, Bean Jr. and 1 other person Thank this.
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All the other deductions are quite high too especially Bobtail, Cargo & Liability, Trailer and Trailer insurance - assuming these are WEEKLY.
Look at the fuel rates, the fuel discount at GCL is horrible to say the least. Comparing my companies discount to Fernley, NV - this driver is paying $2.658 per gallon, my company's rate is $2.05. In Youngstown, OH - this driver is paying $2.499, my company's rate is $2.03. I am using today's rates for fuel purchase this driver did in June - fuel was even cheaper for me then.
At the end of the week, this driver is grossing $3348.40 - which some would think as a good week - using loaded miles, it's $1.08 per mile - BUT WAIT - you need to factor deadhead miles too - so add another 1624 to the 3089 load miles = 4713 and run that into the net paycheck and you get $0.71 per mile.
Again - not bad, I have seen and experienced worse but the deductions at this company are a too high for me. Plus, I do not care to drive 4700+ miles in a week to make this amount of money. I drive approximately 2400 per week and net (after expenses but before the tax man) $1.32 - but I own my own truck and the company I lease onto does not charge trailer fees, etc.
Not sure about your statement - "I’m still trying to figure out where the $1000 went from the freight rate to the settlement rate." - as all the numbers compute for me.
Best of luck...
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