Owner Operators

Yep, but 40-45% of that will be fuel. 10+% will be maintenance. Other expenses will vary, but as the driver, you'll have maybe 30-35% left over to take home and pay those bills.

There are so many people in this industry drawn in by the allure of hundreds of thousands of dollars of income per year, but little do they realize that's what the truck (a business) makes. That's it's gross revenue for the year, and it isn't easy to achieve with no experience driving, let alone no business experience.

A typical company driver in Canada, in most places, will make $55,000 gross in their first year, and it will go up from there based on region and specialty. If you can't drive a truck, there is no way you'll be able to operate a truck as a business AND make money doing it.

I'm almost four years behind the wheel of a truck, came into the industry with a dream to one day own my own truck and operate independently of any company. From what I've learned through those years, and what I've learned from the many experienced hands here on TTR, that dream is probably just best to be left a dream at this point.

 

That dream should be very much alive. Trucking is one of the few businesses that actually has a decent margin of profit.

Very few regular business owners net more than 3-7% a year. They do however manage to handle their taxes in a manner that gives them more.

I think even the most hard ### O/O on here will tell you. It’s good if you’re serious about it, and have the mind for it.

I owned a retail store in my younger days. I can tell you from my experience there. 300% profit isn’t enough to get me back into that. Ever!

Some people like to work hard. Some people hate people in general. Those people own trucks.

 

Eh, I've got a dedicated gravy run into northern ND right now, running M-F, home weekends and never more than a day's drive from home. It's almost all driving and I clear just enough to not get bumped into the next higher tax bracket.

I'm more than happy letting someone else take care of all the extra paperwork and business work.

 

If it works for you. I’d say you’ve found your niche

 

My Dad drove company for 20 years, City Fuel Tanker, Line haul Regional Van (Bakery Fleet) and Regional Western Canada Step Deck. In those days, Company guys had it made, and O/O wasn't really that hot of a deal (Pre-Deregulation). After De-Regulation, the Rush was to be an Independent O/O, and that was OK until about 2001. I spent 2 years company, and just about 1 leased on O/O now. From what I've seen, experienced and had close friends do. I think Company at the right place is a good job, leased on O/O power only is the sweet spot IF YOU HAVE BUSINESS SENSE/EXPERIENCE, and Independent O/O is a #### hard row to hoe! To quote @gokiddogo "If you're trying to haul anything that fits into a box or reefer, in Western Canada, as an Independent; you're committing suicide"

That pretty much sums it up, its you VS TransX/Bison/VersaCold etc etc etc. ####s crazy.

Most guys I know who got an authority/trailers in the last 5 years, have sold them and gone back to lease on O/O power only. Or they have gone ABL contractor for the big boys. I did the ABL thing as a company driver, for a power only contractor; I actually really liked it.

 

Is 250k+ NET take home pay possible?

 

My Accountant tells me, she has one guy who has a 6 year old paid off truck, paid off trailer, leased onto a company that does specialty van LTL into the US on %, paid in US dollars, he did 240K (Canadian) net company income this year. Now what did he pay himself/leave in the company, idk. I also don't know the company, they wouldn't tell me.

 

Ha ha!!! That's effing awesome!

That should be the title of my biography.

 

I've already used it for my TR profile Bio! lol @SteerTire

 

My wife and I took home 300k a year and grossed 600k+, but thats running team. And running your ### off, not just your average trips. We have kids now though....