Taking the plunge. My journey as an O/O.

Discussion in 'Ask An Owner Operator' started by Farmerbob1, Jan 7, 2019.

  1. spyder7723

    spyder7723 Road Train Member

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    There will always be maintenance issues. So its not like you will suddenly see zero down time. Maybe not as much as you saw last year, but a difference of a weeek or two in extra up time isn't going to make a huge impact in net income. That's a difference of a couple thousand bucks, not twenty thousand.
     
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  3. Farmerbob1

    Farmerbob1 Road Train Member

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    Sure, there will always be maintenance, but are really trying to say a full engine rebuild (even if I only payed for roughly half of it,) a month in a hotel, and a month of lost driving time is a minor hit to my bottom line?

    Twenty thousand dollars of lost net income is probably close to accurate, as shop repairs and hotel expenses come directly from the net.
     
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  4. Rideandrepair

    Rideandrepair Road Train Member

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    The hotel cost was an option you chose. That cost though deductible, for all practice purposes came out of your pocket.An expensive vacation. That’s how I see it, anyway. Most of the other stuff was unavoidable. Considering all the down time, the Gross is still good. 4 more weeks working, next year, can easily make another 10k, take a real vacation, and still be ahead. The fact that you survived the major repairs, is enough to call it a good year. Most said you wouldn’t make it. Lol. The main reason you did is because you worked hard. This year if You watch the repair bills, shop around for the upcoming brake job, get at least a verbal quote, before they do any work. And stick to one repair at a time, when possible, it’s easy for them to pump up the bill, when you start stacking jobs up. And try to find some Shops with lower rates, smaller ones that want your bussiness. Dealers act like they’re doing you a favor, charge extra fees, and many times have Mechanics with less experience. I know a few who got their Training from Dealerships. Good Luck, you’ll do better, this year, I’d bet on it. Simply because You have the willingness to work hard.
     
  5. Rideandrepair

    Rideandrepair Road Train Member

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    Y will be higher, if he runs more miles. X can be counted on, and don’t forget net, I’ll call it Z. Z will be higher if he spends less money on repairs. The XYZ Trucking theory. Lol
     
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  6. Farmerbob1

    Farmerbob1 Road Train Member

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    I agree, the hotel was a cost I chose, though that choice was made through ignorance. I really had no clue how much of a mistake buying an extended warranty was. Learning experience. I'm at the house for these repairs, not in a hotel room, though I did spend a couple days in a hotel room while the truck was inspected for leaks, so I could go take a look at what they found and sign any documents required, if something like that came up.

    Speaking of which, time to call and check the status of the work. They should have started repairs yesterday, if they were open on the bank holiday, and I'm not sure they were.
     
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  7. Farmerbob1

    Farmerbob1 Road Train Member

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    Update.

    Work on the truck is nearly complete. They are waiting on one part (a brake drum) which will arrive in a few hours, and can do all the rest of the repairs while they wait for it. The oil pan gasket repair will be covered under the engine rebuild warranty. They expect the truck to be finished tonight, available to pick up tomorrow.

    I already have plans for time at home today and tomorrow, so I will be driving down to pick it up on Thursday. Then I have to return the rental car, re-pack stuff in the truck, etc. You folks mostly know the deal. I will either collect a load and park it nearby on Thursday, or grab a load and roll the whole day on Friday.

    Barring anything interesting happening, anyhow.
     
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  8. spyder7723

    spyder7723 Road Train Member

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    I thought you said the warranty covered the repair, Just dicked you around on the time.
     
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  9. Scooter Jones

    Scooter Jones Road Train Member

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    Do you use an accounting software like Quickbooks Pro?
     
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  10. Farmerbob1

    Farmerbob1 Road Train Member

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    The warranty covered the cylinder head, EGR cooler, and some of the labor. They refused to cover any of the small parts required for service (gaskets, hoses, connectors, hardware, etc) they also refused to cover the cylinder or cylinder liner or any labor associated with replacing a cylinder and re-sleeving the bore. Their total payout was 11k. I paid the rest of the full rebuild.
     
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  11. Farmerbob1

    Farmerbob1 Road Train Member

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    No, though I might move to that in a couple years. Currently, I send an image of all expense receipts to ATBS, monthly, and stash the original receipts in monthly manilla envelopes. I write a brief description of what every receipt was for on every receipt that isn't blatantly obvious, and number every receipt by month and page. 1, 2, 3a, 3b, etc.

    Relying on a third party for accounting costs me $90 per month, but the extent of my paper-jockeying is basically just writing a note on a receipt, taking pictures, emailing them, then dropping manilla envelopes in big Tupperware bins at my storage unit. If an audit happens, I will be prepared.

    One of the things I need to do today, for example, is verify what price I actually paid for the final invoice for the rebuild. Due to TruNorth being annoying about everything, I requested that only cash pricing be used for all invoicing until after they paid, then we would revisit invoicing with the Crete Pinnacle account pricing that I have access to. I'll document what I found later.
     
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