My numbers as an O/O leased to Crete

I wish you success in your planning.

 

I generally drive at 60 mph. That's 1350 rpms, with 3:58 rear gears and a direct 10 speed, that seems to be my sweet spot.

It's also really sweet because it will generally keep me from getting a "go fast" award. This helps keep my money where it belongs....in my bank account!

And, NO! Traveling that speed does NOT make me less productive.
However, having to match my log book to the Qcomm does cramp my style quite often. But then again, I'm legal at all times, and that seems to aleiviate some strees.

 

Wide singles...my research says no, unless the truck already has them when you buy. I checked about a year ago, and to have 4 new rims and tires it was going to cost $1000 per rim and then the cost of the tire (don't remember what the price was). I think the total cost was $6k +/-. Since I can get 8 recaps for under $1200, I could afford to replace them every year, and still come out cheaper.

Also, when you have a blow out, you sit where you are till it gets fixed. A new tire bought on the spot and a road service call, can easily negate any savings.

I curently use the FS2500 oil bypass filter. It does the job. You must get an oil anylisis ($15 +/) each time you change the bypass filter, every 10K miles (per their recommendation) at a cost of $26 +/- per filter.

However, for my own piece of mind, I've adjusted my maintainance plan as follows. Every 15k miles I lube truck and change bypass filter. At 30k miles lube truck change all filters, including the bypass, change oil, and get an anylisis.

Remember, these are just MY experiences. Others my have a different view. Therefore, be a sponge, and get others educated input. This will help you avoid some mistakes when you decide to become an O/O. And some decisions you make will be based solely on personal preference, and probably will not make any financial difference in your operation.

 

Re: Financial Statements – Via Web
John, following you will find your December 2008 monthly financial statement.
The December numbers represent your final financial statement for 2008. They
should agree with Schedule C of your federal income tax return although there
may be some adjustment as additional income tax information is received.

In looking at the December financials, you are showing a Net Profit of $63,090 for
the year-to-date period. This comes out to $0.436 cents per mile and is based
on 144,536 paid miles. Your Net Profit is $10,997 less than a year ago due to
higher depreciation expense.

You averaged 12,045 paid miles per month this year compared with 12,586
monthly miles you averaged last year. You were out on the road 322 days
through the end of December 2008 (88% in service) and averaged 454 miles for
each day you were out. By comparison you were out on the road 333 days last
year and averaged 449 miles/day. You were out 11 less days and averaged 5
miles/day less resulting in 6,491 less paid miles in 2008 versus 2007.

Your maintenance expense for 2008 was $7,296 or $0.050 cpm and your tractor
supplies expense was $555 or $0.004 cpm. Together your variable tractor
expenses end the year right in line with expectations, but $0.015 more than a
year ago.

Fuel costs averaged $0.550 cpm less fuel surcharge reimbursements
of $0.420. This results in a net fuel cost of $0.130 which is excellent and $0.025
less than in 2007.

Your tractor depreciation expense for 2008 was $27,833 or $0.19 cpm. 2008​

was the third year of a five year depreciation schedule for your tractor.

My total revenue for Dec. was $10,060 on 8,393 total miles. Variable costs (fuel, fuel/roed taxes, maintainance/tires, supplies, trk washes, misc.) were $3535.00, Fixed costs (Tractor depreciation,intrest, license/permits, cell phone, qualcomm, physical damage/bobtail ins., cargo/liability ins., workers comp., office supplies, CPA, misc.) were $3660. deadhead % for the month was 8.2.

Total revenue for 2008 was $197,432 on 144,536 total paid miles with 7.9% deadhead. Annual variable cost were $91,279, fixed cost were $43,063. I've paid a total of $9,200 in quarterly taxes this year.

Conclusion, while my miles were down this year, my revenue was up. Unfortunately, my net income was down. This was mostly due to the 11 fewer days on the road and the acounting trick of higher depreciation. Atleast with the higher fuel prices we encountered for most of '08 did not sink my boat! Thanks to the fsc and 100% pass through of fuel discounts. My total fuel bill for '08 was $79,509.

Am I doing any better than a company driver? NO!!! BUT, I still enjoy being an O/O.
My current goal is to find a niche, either with another company or on my own or even at Crete, that will allow me to drive less miles and generate more revenue. However, I've been looking for awhile, and I'm still here. The current economy doesn't help
either!

All constructive critosisim, or other observations and questions are welcome. I'm here to learn as well.

P.S. I hit Bambi Wed. at 0545 am. Right side bumper is bent back, and some cracks in the fiberglass below the right headlight. That's the extent of the damage. I have to get a couple of estimates and cover the $1000 deductable. Atleast I can still drive it. It just looks bad!