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Review My Numbers

Discussion in 'Ask An Owner Operator' started by Darkstar1, Jul 3, 2014.

Page 1 of 2
  1. Jul 3, 2014 #1
    Darkstar1

    Darkstar1 Bobtail Member

    7
    1
    Jun 30, 2014
    0
    Am doing my preliminary due diligence in figuring out what it will cost me to run a tractor and reefer as an owner operator;
    Can you all take a look and see if these numbers are in line?

    Thanks.
    [TABLE]
    [TR]
    [TD="width: 146"]Miles Per Year[/TD]
    [TD="width: 64, align: right"]125000[/TD]
    [TD="width: 84"]Fuel Cost[/TD]
    [TD="class: xl63, width: 81"] $ 4.00 [/TD]
    [TD="width: 64"]MPG[/TD]
    [/TR]
    [TR]
    [TD]Maintenenace Reserve[/TD]
    [TD="class: xl63"] $ 0.15 [/TD]
    [TD][/TD]
    [TD="class: xl63"][/TD]
    [TD][/TD]
    [/TR]
    [TR]
    [TD]Tire Reserve[/TD]
    [TD="align: right"]0.04[/TD]
    [TD][/TD]
    [TD="class: xl63"][/TD]
    [TD][/TD]
    [/TR]
    [TR]
    [TD]Cost Per Mile[/TD]
    [TD="class: xl64"] $ 1.93 [/TD]
    [TD][/TD]
    [TD="class: xl63"][/TD]
    [TD][/TD]
    [/TR]
    [TR]
    [TD][/TD]
    [TD][/TD]
    [TD][/TD]
    [TD="class: xl63"][/TD]
    [TD][/TD]
    [/TR]
    [TR]
    [TD="class: xl63"][/TD]
    [TD="class: xl63"][/TD]
    [TD][/TD]
    [/TR]
    [TR]
    [TD][/TD]
    [TD][/TD]
    [TD="class: xl63"][/TD]
    [TD="class: xl63"][/TD]
    [TD][/TD]
    [/TR]
    [TR]
    [TD][/TD]
    [TD][/TD]
    [TD="class: xl63"][/TD]
    [TD="class: xl63"][/TD]
    [TD][/TD]
    [/TR]
    [TR]
    [TD][TABLE="width: 375"]
    [TR]
    [TD]Miles Per Year[/TD]
    [TD="align: right"]125000[/TD]
    [TD]Fuel Cost[/TD]
    [TD="align: right"]4.00[/TD]
    [/TR]
    [TR]
    [TD]Maintenenace Reserve[/TD]
    [TD] $ 0.15[/TD]
    [TD][/TD]
    [TD][/TD]
    [/TR]
    [TR]
    [TD]Tire Reserve[/TD]
    [TD="align: right"]0.04[/TD]
    [TD][/TD]
    [TD][/TD]
    [/TR]
    [TR]
    [TD]Cost Per Mile[/TD]
    [TD] $ 1.93[/TD]
    [TD][/TD]
    [TD][/TD]
    [/TR]
    [TR]
    [TD][/TD]
    [TD][/TD]
    [TD]$
    [/TD]
    [TD] CPM

    [/TD]
    [/TR]
    [TR]
    [TD]FUEL
    [/TD]
    [TD][/TD]
    [TD="align: right"]83333.33333[/TD]
    [TD="align: right"]0.67[/TD]
    [/TR]
    [TR]
    [TD]Salary[/TD]
    [TD][/TD]
    [TD="align: right"]65000[/TD]
    [TD="align: right"]0.52[/TD]
    [/TR]
    [TR]
    [TD]MAINTENANCE[/TD]
    [TD][/TD]
    [TD="align: right"]18750[/TD]
    [TD="align: right"]0.15[/TD]
    [/TR]
    [TR]
    [TD]Insurance[/TD]
    [TD][/TD]
    [TD="align: right"]19000[/TD]
    [TD="align: right"]0.15[/TD]
    [/TR]
    [TR]
    [TD]Tractor Payment[/TD]
    [TD][/TD]
    [TD="align: right"]14400[/TD]
    [TD="align: right"]0.12[/TD]
    [/TR]
    [TR]
    [TD]Trailer Payment[/TD]
    [TD][/TD]
    [TD="align: right"]7000[/TD]
    [TD="align: right"]0.06[/TD]
    [/TR]
    [TR]
    [TD]Lodging[/TD]
    [TD][/TD]
    [TD="align: right"]5200[/TD]
    [TD="align: right"]0.04[/TD]
    [/TR]
    [TR]
    [TD]Tires[/TD]
    [TD][/TD]
    [TD="align: right"]5000[/TD]
    [TD="align: right"]0.04[/TD]
    [/TR]
    [TR]
    [TD]tractor down payment[/TD]
    [TD][/TD]
    [TD="align: right"]10000[/TD]
    [TD="align: right"]0.08[/TD]
    [/TR]
    [TR]
    [TD]licenses[/TD]
    [TD][/TD]
    [TD="align: right"]3200[/TD]
    [TD="align: right"]0.03[/TD]
    [/TR]
    [TR]
    [TD]trailer down payment[/TD]
    [TD][/TD]
    [TD="align: right"]3000[/TD]
    [TD="align: right"]0.02[/TD]
    [/TR]
    [TR]
    [TD]truck wash[/TD]
    [TD][/TD]
    [TD="align: right"]2500[/TD]
    [TD="align: right"]0.02[/TD]
    [/TR]
    [TR]
    [TD]lawyer[/TD]
    [TD][/TD]
    [TD="align: right"]2000[/TD]
    [TD="align: right"]0.02[/TD]
    [/TR]
    [TR]
    [TD]accountant[/TD]
    [TD][/TD]
    [TD="align: right"]1000[/TD]
    [TD="align: right"]0.01[/TD]
    [/TR]
    [TR]
    [TD]Scale Fees[/TD]
    [TD][/TD]
    [TD="align: right"]1000[/TD]
    [TD="align: right"]0.01[/TD]
    [/TR]
    [TR]
    [TD]Load Board[/TD]
    [TD][/TD]
    [TD="align: right"]500[/TD]
    [TD="align: right"]0.00[/TD]
    [/TR]
    [TR]
    [TD]MC Number[/TD]
    [TD][/TD]
    [TD="align: right"]300[/TD]
    [TD="align: right"]0.00[/TD]
    [/TR]
    [TR]
    [TD]communications[/TD]
    [TD][/TD]
    [TD="align: right"]400[/TD]
    [TD="align: right"]0.00[/TD]
    [/TR]
    [TR]
    [TD]LLC Cost[/TD]
    [TD][/TD]
    [TD="align: right"]200[/TD]
    [TD="align: right"]0.00[/TD]
    [/TR]
    [/TABLE]
    [/TD]
    [TD][/TD]
    [TD="class: xl63"][/TD]
    [TD="class: xl63"][/TD]
    [TD][/TD]
    [/TR]
    [TR]
    [TD][/TD]
    [TD][/TD]
    [TD="class: xl63"][/TD]
    [TD="class: xl63"][/TD]
    [TD][/TD]
    [/TR]
    [TR]
    [TD][/TD]
    [TD][/TD]
    [TD="class: xl63"][/TD]
    [TD="class: xl63"][/TD]
    [TD][/TD]
    [/TR]
    [TR]
    [TD][/TD]
    [TD][/TD]
    [TD="class: xl63"][/TD]
    [TD="class: xl63"][/TD]
    [TD][/TD]
    [/TR]
    [TR]
    [TD][/TD]
    [TD][/TD]
    [TD="class: xl63"][/TD]
    [TD="class: xl63"][/TD]
    [TD][/TD]
    [/TR]
    [TR]
    [TD][/TD]
    [TD][/TD]
    [TD="class: xl63"][/TD]
    [TD="class: xl63"][/TD]
    [TD][/TD]
    [/TR]
    [TR]
    [TD][/TD]
    [TD][/TD]
    [TD="class: xl63"][/TD]
    [TD="class: xl63"][/TD]
    [TD][/TD]
    [/TR]
    [TR]
    [TD][/TD]
    [TD][/TD]
    [TD="class: xl63"][/TD]
    [TD="class: xl63"][/TD]
    [TD][/TD]
    [/TR]
    [TR]
    [TD][/TD]
    [TD][/TD]
    [TD="class: xl63"][/TD]
    [TD="class: xl63"][/TD]
    [TD][/TD]
    [/TR]
    [TR]
    [TD][/TD]
    [TD][/TD]
    [TD="class: xl63"][/TD]
    [TD="class: xl63"][/TD]
    [TD][/TD]
    [/TR]
    [TR]
    [TD][/TD]
    [TD][/TD]
    [TD="class: xl63"][/TD]
    [TD="class: xl63"][/TD]
    [TD][/TD]
    [/TR]
    [TR]
    [TD][/TD]
    [TD][/TD]
    [TD="class: xl63"][/TD]
    [TD="class: xl63"][/TD]
    [TD][/TD]
    [/TR]
    [TR]
    [TD][/TD]
    [TD][/TD]
    [TD="class: xl63"][/TD]
    [TD="class: xl63"][/TD]
    [TD][/TD]
    [/TR]
    [TR]
    [TD][/TD]
    [TD][/TD]
    [TD="class: xl63"][/TD]
    [TD="class: xl63"][/TD]
    [TD][/TD]
    [/TR]
    [TR]
    [TD][/TD]
    [TD][/TD]
    [TD="class: xl63"][/TD]
    [TD="class: xl63"][/TD]
    [TD][/TD]
    [/TR]
    [TR]
    [TD][/TD]
    [TD][/TD]
    [TD="class: xl63"][/TD]
    [TD="class: xl63"][/TD]
    [TD][/TD]
    [/TR]
    [/TABLE]
     
    Darkstar1, Jul 3, 2014
    Darkstar1, Jul 3, 2014
    #1
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  3. Jul 3, 2014 #2
    gokiddogo

    gokiddogo Road Train Member

    8,786
    14,769
    Mar 5, 2012
    Ontario Canada
    0
    I would say those are good estimates. Are you planning on running your own authority or under someone elses?
     
    gokiddogo, Jul 3, 2014
    gokiddogo, Jul 3, 2014
    #2
  4. Jul 3, 2014 #3
    jbatmick

    jbatmick Road Train Member

    2,199
    2,507
    Dec 1, 2009
    hastings, Fl
    0
    Remember you will run more miles than you are paid for. Maybe 10 to 20 %.More fuel to buy than you figure.. You need to figure in reefer fuel and maintenance. Units ain't cheap to run.What about tolls ? Four cents a mile for tires is a little low.Lumpers ? Taxes ?

    Really hard to project costs without more information.
     
    jbatmick, Jul 3, 2014
    jbatmick, Jul 3, 2014
    #3
  5. Jul 3, 2014 #4
    Ridgeline

    Ridgeline Road Train Member

    22,678
    121,556
    Dec 18, 2011
    Michigan
    0
    Really really think about that LLC crap before you pull the trigger, especially if you think you will be protected from any lawsuits or want to save on taxes.
     
    Ridgeline, Jul 3, 2014
    Ridgeline, Jul 3, 2014
    #4
    BigBadBill Thanks this.
  7. Jul 3, 2014 #5
    fortycalglock

    fortycalglock Road Train Member

    6,162
    6,604
    Jun 25, 2011
    Tourist Town, FL
    0
    Insurance is high, but I don't know your record. Lodging??? That's 100 nights at $50!!! Eliminate the scales with onboard scales, much cheaper. Why are you paying a lawyer $2k? Where are tolls?
     
    fortycalglock, Jul 3, 2014
    fortycalglock, Jul 3, 2014
    #5
    bstadele Thanks this.
  8. Jul 3, 2014 #6
    fortycalglock

    fortycalglock Road Train Member

    6,162
    6,604
    Jun 25, 2011
    Tourist Town, FL
    0
    A single owner operator/driver will have zero protection from lawsuits with an LLC or corporation. However, if you elect S-corp tax status on your LLC, you can save some taxes.
     
    fortycalglock, Jul 3, 2014
    fortycalglock, Jul 3, 2014
    #6
    bstadele Thanks this.
  9. Jul 3, 2014 #7
    Marlin46

    Marlin46 Medium Load Member

    504
    299
    Mar 17, 2010
    Atlanta, GA
    0
    Withdrew comment.
     
    Last edited: Jul 3, 2014
    Marlin46, Jul 3, 2014
    Marlin46, Jul 3, 2014
    #7
  10. Jul 3, 2014 #8
    BobcatVolvo

    BobcatVolvo Light Load Member

    171
    132
    Feb 23, 2014
    Western Ohio
    0
    Unless you're planning on driving until you fall over dead, put a line item in for retirement savings. I do about 8-10 CPM. Otherwise, your insurance number seems high, and I don't think I've spent $5k on lodging in 5 years. Once you get all set, you won't spend $2k on lawyer fees, but depending on how you use them, accountants can be a bit more. Mine costs about $1200 a year.
     
    BobcatVolvo, Jul 3, 2014
    BobcatVolvo, Jul 3, 2014
    #8
    double yellow and scottied67 Thank this.
  11. Jul 3, 2014 #9
    bstadele

    bstadele Bobtail Member

    29
    6
    Jun 14, 2014
    0
    Good finally someone know , can you elaborate more about what type and why please !....
     
    bstadele, Jul 3, 2014
    bstadele, Jul 3, 2014
    #9
  12. Jul 3, 2014 #10
    dannythetrucker

    dannythetrucker Road Train Member

    2,856
    4,032
    May 26, 2011
    everywhere, man
    0
    You can get an EIN as a sole proprieter. I wouldn't recommend incorporating for looks.
     
    dannythetrucker, Jul 3, 2014
    dannythetrucker, Jul 3, 2014
    #10
    jbatmick and bstadele Thank this.
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