Are my numbers even close?

STARTUP COST



* I have already purchased a 2003 volvo for $9000
* I plan to apply to Truckers advantage and factor my way through fuel cost. 2.5% factoring is cheaper than a line of credit at 7%



INCOME / EXPENSES


* I will be the "Company Driver" for about the first year


Please advise on where I am off. I have factored in a 30% margin of error to the bottom line.
If interested I can send you the XLS spreadsheet

 

$214,500 will be kinda hard to acxhieve your first year WITHOUT your own customers....

and if you plan on factoring..........2.5% is a great rate for a 1 truck factoring what?? $15 k per month?

That old Volvo gonna keep you in the shop once a month....Plus a decrpit wagon for 5k? lol......Your gonna sink another 5k into it for brakes/drums/slacks/chambers/seals and bearings PLUS structural integrity too..(new A posts-Roof-cross-members-radius panels)

Good Luck and I wish you much $$$$ and success

 

Are you a single truck operation????

PLATES/HVUT 3000.00
FUEL TAX is high..
AUTHORITY IS ONLY 600.00/USDOT 10.00/INTRASTATE??? DEPENDS ON WHAT STATE YOU RUN IN
DRUG CONSORTIUM 125.00 a year
ADMIN 1000.00 A MONTH FOR WHAT??

 

.13 is low maintenance for old truck and trailer. 1.95 for every mile, on a new startup, pulling a van, is........let's call it optimistic.

 

suggestions?

 

yes single truck.
The 1000 is just start up admin
The 10000 year admin is legal, CPA, cell phone, plates, and all the other various things that add up quickly.

 

ok so shop for a trailer in the 10K range?
whats the most common reason Ill be in the shop once a month?

 

What is your background in this industry? Do you have shippers lined up? Without knowing the answers to these types of questions, it's hard to say. MC authority is only $300. I'm guessing the $3k includes plates and 2290?

 

Because it's a $9000 truck. Move that maint number to the low .20's to start and trim it in as you go. Fuel $ is too high , mpg is good...where is the FSC you will collect? and get rid of the 030 slush fund.

MM is right too, no on the 215K off the boards / broker etc. Your own dedicated gig? Maybe otherwise no.....

Forget the 5k trailer too, it's nothing but iron, step up to a better unit and it will serve you well.

Work the numbers again bud....

Good luck
JMO

 

Old trucks break down. Do you have the mechanical skills and tools to troubleshot and repair? On a breakdown where your truck becomes immobilized, the tow truck can run more than the repair. We're not trying to discourage you, simply bring you back down to earth a little bit.