$15-$30K Net Profit Owner Operator in 2022?

Not a clue. I go nowhere near the northeast. Might go to Jersey or PA once or twice a year.

 

Ok. Do you have a P&L’s showing a net of 30k. Or just one for the year showing a net of 300,000?

Look, I’m not saying you or anyone in particular is lying. I’m also not saying I am doing better than anyone. I showed my good month for Q1. I actually lost money in January and basically broke even in February. But, I only know a couple people here personally and will take them at their word. Everyone else I’m skeptical of. I also know what kind of numbers a few others are doing. No one that I know is making 30k profit consistently. That would be over $300,000 a year. Or even $160,000 profit for six months in pure profit.

Like I said. I thought I was doing well, but if you guys are doing that I need to make some changes. But I need to see some actual numbers. Because…. well frankly I don’t know you and I only trust my friends.

 

I don’t blame you for not believing the numbers. I hauled livestock and oversize for 15 years and thought that would be the best money I’d ever make. But I’m doing a lot better the last 7 years than I ever was before. I don’t have a P&L to show. But I’ll list my last 4 weeks. Week 3/5/22 $10,350. Week 3/12/22 $8,105. Week 3/19/22 $12,430. Week 3/26/22 $11,520. Those are my $’s to the truck. You have to take out fuel and insurance and maintenance yet. But my fuel cost isn’t out of hand because I get reasonably good mileage. Insurance is $560/month. And my maintenance isn’t much because I do all of my own wrenching.

 

Even a P&L doesn't take into account payments and depreciation, or replacement cost.

I guess that's why I am dubious when folks state what their net is.

 

That’s why I prefer to run older equipment. No payments to make. And the depreciation on a 20 year old truck is basically zero. Once the truck reaches a certain value, as long as it’s maintained both mechanically and cosmetically it won’t hardly ever drop in value. And for my business model I have absolutely no desire to update equipment. I’ll keep rebuilding my two trucks until I can’t get parts anymore, then I’ll hang up the keys.

 

I have never done 30k net profit per month. Far from it. In the last two years I exceeded 20k a few times but it were busy months when running out of 70s was very close.
The rule of thumb is that the gross profit - before you pay yourself- is about half the gross for a own authority. While this phenomenon cannot be proven mathematically as to why it should apply to everybody, it was noticed by callers on Kevin Rutherford' show, it was noticed by me on consistent basis and others too. Mind you it is a dry van freight.
So in order for me to net more than $150 000 before even paying myself I need $300 000.
For a dry van, and for that matter a reefer, in the last 10 years, it is not a number easy to attain.

If someone makes 30k net profit per month, on sustainable basis, that means that they are netting more than $1000 000 in 3 years.

I would also have to see it to believe it. I've been long enough at it to know better and would not just take it at a face value.

However, if it is true for or not for a given individual is irrelevant here.
The important thing to say is that this is not the industry standard but abysmally far from it, so people are not under false impression that you can expect such good results when they contemplate getting own authority or buying a truck.
Simply put, such money does not exist here for owner operators who work off loadboards.

 

Well said. That’s pretty much the point I was trying to make. I just wasn’t saying it well.

 

Well I’m not gonna show bank statements to prove my numbers. If you don’t want to believe it, that’s no skin off my back. I was just answering the original question about whether or not it can be done. I’ll agree it’s not the norm. But that wasn’t the question. I only drive about 7 months out of the year. The other time is spent farming.

 

I don't. I have before expense and post expense. Numbers.

 

You don't have to do it on my account. And please do not take it as an affront to you.
I would like to trust you and to a certain degree, I do trust you. Perhaps, I am skeptical about whether or not we are understanding such terms as the gross income, gross profit, and net profit the same way but I do realize that my so far modest achievements can hardly be any measure of what others can or cannot accomplish. Maybe you are the guy who knows it better. Very much possible.
What I am saying here is that your exceptional achievements cannot be generalized into a statement that "it can be done". It can't. If you say something along the line "If I can do it, then everybody can" then you also want to show who the carrier/employer is, the exact freight you are servicing, miles, etc. Of course, I don't expect you to, due to the job security and not wanting others to jeopardize your "niche". But that's my point. An individual miracle "job" can't be a message saying "the trucking will make you a millionaire within a couple of years". This would be commensurate to saying "A housemaid career in a short time can lead to great wealth".
Or in other words, for every 100 new authorities entering the field may be only 5 can expect to escape the market forces to which they are subjected. The rest will wallow in the same mire as others, or when the good times come, they will bath in something better.