Hello I'm on here trying to make heads or tails of becoming an owner operator for the hotshot freight sector traveling all 48 states I've come up with a monthly expense break down and I'm wanting to have it looked at by those of you in the industry, it's below.
Insurance (liability & cargo): $1,200
Truck payment: $750
Gas (8K miles): $1,500
Food($7 per meal): $450
Maintenance(oil change): $150
Tire fund: $200
Hotels: $2,250
Total = $6,500
I'm looking at $1.23 per mile to break even, the issue I'm having is I want to be able to own a house and have a family. Is it possible and probable to make more than the $1.23 per mile so that I can have the life I want, tell me your thoughts and if you'd like to correct my budget please do so I'm here for your expertise.
Thank You in advance
Owner operator expense inquiry
Discussion in 'Expediter and Hot Shot Trucking Forum' started by Menchaca0807, Jun 5, 2017.
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2.00 a mile is doable I THINK if you are a gasser your upkeep fund should run about .25 a mile and about a .40 a mile fuel charge LOLL kittypower
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If you're going to do this, you need to add a sleeper to cut out that motel expense. And in my opinion using a gas rig really isn't a good idea. A lot of guys convert their back seat into a bed. It doesn't meet federal sleeper berth dimensions so most guys who have converted the back seat log off duty instead of sleeper berth. Do the math on motels in a years time versus buying a sleeper. $80.00 a night over a 5 year period comes to $146,000.00. A sleeper is going to cost a one time fee of approximately $4,000.00 to as much as $14,000.00 depending on which one you get.
With a diesel, most of us are servicing our trucks every 10,000 miles. Oil change, fuel filter/filters, engine air filter. I change my own fuel filters, and air filter but I let the dealer do the oil change at a cost of $95.00. I don't want to deal with hauling the oil off. I buy my fuel filters, and air filters online and save a lot compared to going to the dealer to buy them. Oil change, fuel filters and a air filter run me right at $225.00 a month.
You can add anything you want into your operating cost but I wouldn't advise it. Me personally I don't add food in because I'm gonna eat whether I'm in the truck, or at home. I pay for my food out of my paycheck always have. Never had a job where the company picked up my food bill.
Your monthly tire amount looks spot on for buying a new set every year. Might want to add in a couple tires for an occasional blowout. And of course you're going to want add more, for things like brake jobs, etc. typically what I do is I have a separate maintenance account where I dump money in every month. If I need it for repairs, i don't have to stress, it's there. If I get through the year, or several years without depleting the account I just let that money build up in there.brian991219, Hammerhandle and TN_Chief Thank this. -
hey I am also looking into getting in the business and not to take away your post but what insurance are people running?
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Most Brokers and Shippers want to see you have $100,000.00 Cargo. And $1,000,000.00 liability before they'll load you.
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