$1 million Owner Operator

Discussion in 'Ask An Owner Operator' started by Big Lebowski, Jul 7, 2021.

  1. Big Lebowski

    Big Lebowski Bobtail Member

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    I am about to embark on adding 2 trucks. As I do the math, I question the limits. Isn't it feasible to keep going until I make myself a million a year? I mean, obviously if it can be done, I'm thinking those types that might make that kind of money, don't spend their days here catching up. So anybody here know anyone that got close or maybe yourself? I understand there are lots of variables, like where you run, who you get your loads from, whether you run for dedicated shippers etc. but what are your thoughts on the end goal? My math says it's actually quite easy and it's in the number of trucks.
     
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  3. TallJoe

    TallJoe Road Train Member

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    I can only guess that the "not easy" part is to find right people to drive in a fleet of about .... 100 + trucks to clear $1 000 000 in the wallet of an owner (per year).
    Maybe a millionaire trucking businessman will enlighten us here....
    How many trucks are needed to get there....?
     
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  4. Big Lebowski

    Big Lebowski Bobtail Member

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    I 100% agree on the recruiting and retention. Not to mention the management of safety and insurance costs. But 100 trucks seems high based on my calculator. But that's why I ask. I might just be naive. Because if it was as simple as what I come up with, it'd been done every day long before I got here. Thank you for your reply.
     
  5. Big Lebowski

    Big Lebowski Bobtail Member

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    I see many guys get 3 trucks, stop driving and live in that space. I may live on the road but I'm convinced I make more money than them. I don't go home every chance I get. And I am one that is never satisfied with yesterdays goals because today is a new day. I also know of another that has around 30 O/O's and he continues to drive occasionally for extra income. I've never asked but I've assumed he does very well. $1M? Not sure. He doesn't live like one. But that's not his style. So even if he was, I'm not sure i would know.
     
  6. TallJoe

    TallJoe Road Train Member

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    No. No. No. Don't thank me....I am waiting for a reply too. I am curious as hell myself. LOL
    Is a million per year even a possibility? @Midwest Trucker how big a fleet size, can you estimate, would it take to become a member of a real millionaire club?
     
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  7. wichris

    wichris Road Train Member

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    Law of diminishing returns. More you have the more expenses/unit/office/ect.
     
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  8. TheLoadOut

    TheLoadOut Road Train Member

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    Isn't there an old saying "How do you make a million dollars in trucking?"..."You start with 2 million and work your way down"
     
  9. Rubber duck kw

    Rubber duck kw Road Train Member

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    It's going to take at least 100 trucks to pay yourself a million a year, I'm not sure 100 would do it. I'm assuming that's what you're aiming for. None of the guys I know with more than a dozen or so are anywhere close to clearing that much in a year, at least not that you can tell by their lifestyle. They've got nice houses and drive nice vehicles, but so do the local Deere mechanics.
     
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  10. TheLoadOut

    TheLoadOut Road Train Member

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    And the Deere mechanics have way less headaches
     
  11. Vitkouski

    Vitkouski Light Load Member

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    I know three ways to spend money.
    The fastest - casino.
    Most enjoyable - women.
    And the most reliable one is to invest in the trucking business.
     
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