So I plan to stay with my current steady job while starting an O/O business. I’d like to haul a few loads a month and use vacation time to cover my days off work. Doing it this way I can be established as an operator for a year before trucking on my own full time. My question is what would be the minimum number of miles you could run, and still cover all the set monthly bills such as insurance? 1000 miles? 1500? 1974??
Bare minimum miles?
Discussion in 'Ask An Owner Operator' started by Gumper, Jan 9, 2018.
Page 1 of 3
-
-
Trucking Jobs in 30 seconds
Every month 400 people find a job with the help of TruckersReport.
-
You need to run your own numbers to answer that. Some people have been parked for the last month and are doing fine. Some people lose everything running 4,000 miles a week.
Justrucking2, Lepton1, Pieter78 and 2 others Thank this. -
HAHAHAHAHAHA....
Something will happen, you will wait some time then find that you are going to miss a few days work getting back...
That's one problem...
Trucking is all or nothing. There is no bare minimum unless it's zero if you wait long enough. -
Alright well I figured 1000 miles not paying myself would cover the monthly fixed expenses. Is that realistic?
-
I use 8,500 miles a month for an annual average for everything to work it okay. Under that I have to really tighten the budget. Over that is all gravy.
-
I was considering doing this as well; however, the insurance for a new authority is pretty expensive and would cut severely into the revenues you would generate. You may be able to break even depending how much time you are able to take off though. My fear also was that a lot of shippers are closed on the weekends so pickup would have to be a Friday and delivery would need to most likely be a Monday, then you would have to deadhead back to make it to work on Tuesday.
The route I am going is to activate my authority ~2-3 months before I plan on "hitting the road", to have my authority active for 90 days, so I don't look like a completely new operation. My thought is to have insurance minimums ($750K) for this period and up the coverage to what I am comfortable with as I am transitioning to this new venture.Pieter78 Thanks this. -
That’s about where I’m at. Get my authority established, and try to make enough to cover the additional expenses of having the truck. I’d still be paid my normal salary since it’s paid vacation time, the the trucking part wouldn’t be paying out a salary to me. It’d all be to make the business break even for a few months or so.
-
There is no answer to your question. You need a set amount of revenue per day/month/year to cover your expenses. How many miles this takes is anyone's guess. One person may cover their monthly expenses in a 500 mile run. Another may need 5,000 miles to cover their monthly expenses. This is like rates, no two are alike and everyone is all over the place.
Lepton1 Thanks this. -
This isn't part time work. This is a business that needs to be attended to in order for you to be anything close to successful.
Don't take this personal but we have enough crap owners with crap trucks running around on shoe string budgets and it is why we need to eliminate a lot of these crap authorities with means testing.Justrucking2, uncleal13 and Lepton1 Thank this. -
I don’t plan on it to be part time work. I don’t see a brand new authority getting many loads, so getting that and letting time go by is what I see is a good idea. But I’d also like the truck to make some money. Hell, maybe I’d get flooded with work right out of the gate, but I doubt it. I’ve never had a part time job nor have I been unemployed since I was 15.
Trucking Jobs in 30 seconds
Every month 400 people find a job with the help of TruckersReport.
Page 1 of 3