so how much can you make as a an O/O?

The thing about running a paid for truck is replacement. So many leave that out of the equation. I got used to no truck payments so naturally the last truck we bought we paid for it and drove it home. Nice not to have payments

 

yes he has other revenue streams we did not go into. I think he does some broker work as well. He also owns another business that his wife heads up. They have been business owners for about 18 years now and have a pretty good chunk a change I would expect. He didnt go into details on everything they had going was just nice enough to show me some of his numbers showing you can make a good profit owning a trucking company. Only thing for him is his wife and him are having marriage issues so hes prob screwed lol.

 

Are you paying for health insurance for your family and drivers off these trucks ?

 

That's in between me and my drivers, but yes, partially.

 

My point is your calling it all profit......... Your leaving out some important expenses.

 

thats part of my payroll expense...that was taken out before my "profit". im not leaving out anything

 

First off, arguing about what is and what isn't an owner/operator is purely semantics. Second, asking an owner/operator how much he makes induces a need to fudge the numbers. Most O/O have a need to make themselves look better on paper. Maybe it's small phallic symbol syndrome, maybe it's the fact of the dream. I can't explain it, nor could a PhD in psyschiatry. I'm still about 3-4 weeks out from running my own truck and trailer under my own authority. Before I made the decision, I did some EXTENSIVE research on income/expense comparisons. Looking at, take fuel for example, national average of $3.97, I added $0.28 to my cost for a rounded $4.25. I figured on average a truck will get between 6 and 8 mpg, so I will get 5mpg. In my case, you can see where I am "speculating" to spend much more than the average. Other drivers will try to be within the penny. Also, my forecasts are based on a 20 day a month calender at 500 miles a day. Again, you see where I have padded myself. Other drivers, again, choose to make a full month when figuring the operation. And yet again, there is the type of operations that have to be factored. Van, flatbed, reefer...all have vastly different rates and vastly different expenses. I will be running reefer and dry van, so my rate was figured at the dry van national average minus 10%. And yet again, some drivers will have a good standing account that can run much higher than my $1.85 per mile rate.
After I've planned out insurance, renewal of permits, maintenance, tires, equipment replacement in 5 years, emergency break down funds, my payroll is a meager $0.30 per mile. Could I make more as a company driver? Most probably. Would I be as happy as a company driver? Been there, done that and got a hat and coat; definitely not. To me, money is not the be all end all. Freedom of running my own business and not making someone else richer through the fruits of my labor is what drives me. If you are thinking of getting into trucking as a get rich scheme, I suggest getting into day trading in the stock market; the risk is lower there and the payout potential much greater.

 

2009 Gross $ 117,000 Net $ 19,000
2010 Gross $ 132,000 Net $ 26,000
2011 Gross $ 192,000 Net $ 47,000
2012 Gross $ 210,000 Net $ 45,000
2013 Gross $ 200,000 Net $ 43,000

 

Some of us do tell the truth after my expenses and what I run for I'm lucky to walk away with $.80- dollar per mile and only drive 60,75,000 a year

 

It's not accurate to use truck payment for the net income. Payment can give you a monthly expense, but then when truck note is paid off you have cash equity. I'm not sure what financing term you're using, but suppose it's 5 years and $25,000/year ($0.25/mile @100,000 mi/year) in payments. Then when you pay it off suppose it's worth $50K and you drove 500kmi. Then you get $0.10/mile credit giving you net expense $0.15/mile.
Same thing when truck is paid off it is still depreciating so there is always truck expense. Only thing you save is bank interest.