ROI

Read this thread (and various other threads and posts) by @haider99.

 

You can make a good living as an owner operator, there is no doubt about it. My dad does well with his own truck, but he has been in the business for nearly 50 years. Unless you start out with an awesome guaranteed contract, it’s too unforgiving to learn as you go with the initial investment, all the rules and regs, and that a simple mistake can cost someone their life (not to sound too dramatic).

I am not familiar with trucking companies in Canada, maybe @Chinatown could provide answers. Once you learn the freight lanes, freight types, cost per mile, etc you will have a better plan of attack. That’s why you can get a good company job and learn the industry, then go out on your own.

 

Your numbers are not far off but you're forgetting one large expense
TRUCK PAYMENT

You need to think with 2 brains
Fire up a business... that business is worth $0.
It needs to borrow money from somewhere to buy a truck. To pay for fuel, Insurance, a driver, road taxes, all that crap, and at the end, still turn a profit, or it will die.
So where does your business get startup money? A: from a lender. If your business is very lucky it will find a sucker willing to lend it money at 0% interest or even never repay the loan, when that lender could have otherwise put that money in another investment that may increase its value by 5,7,9%, whichever.
So do you want to find some dummy that will lend you money for free?

If you add a truck payment of a new truck you're looking at 3500 a month or so (cdn$). Or 42,000 per year. So where is that money coming from? Payroll or profit line?

Also your fuel cost is a little low. Figure 0.65 cdn per mile. Reefer? .70-.75. Which includes fuel taxes paid at the pump which many states are rapidly increasing and there is talk of a .25 per gallon federal increase. This can account for def use also; it is a minor expense and your cost of fuel and mpg will fluctuate so this is why I use these numbers.

Brain #2
Is you as a driver
How can you make the amount you want and work the amount you want at the same time? How is it better than working for another carrier just driving? Why would you go and drive 160,000 miles in your own truck if you can draw 65000 if another man is willing to pay you 80000 to drive his 160,000 miles a year? That really is the goal here. Less work and better work life/home life balance AND more dinero on the dinner table.

Make sense? I try not to sound negative but this is a numbers game. Many have come before you and failed. So we can sound like a bunch of a holes here or we could blow sunshine up your ssa and when you fail maybe someone will buy you a coffee at the counter of infinite wisdom someday....

 

Curious if you’re talking Canadian money in your breakdown, or American?

 

I’m not sure what the going rate in Canada is per mile, but $1.50 (~$1.18 American) is way too low. You’re not making money, and not doing other truckers any favors.

 

Scotlynn will pay you 1.50 to pull their trailers and enough miles to run the wheels right off your truck....
They'll even finance a brand new big hood truck with lots of shiny or lights whatever you like as well................

 

Pm me an I can send you my proforma. It's been pretty close so far