Can owner operators make 4k per week after all expenses and taxes?

Discussion in 'Ask An Owner Operator' started by Power Meister, Aug 26, 2022.

  1. Power Meister

    Power Meister Light Load Member

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    There are the threads about "closing up shop", and "rates crashing and fuel prices to the moon", and "are we really stuck at $2 per mile?". Those threads add support to 3k per week income before taxes being accurate. And that 3k is if your operation is running smoothly the whole time. Obviously, you can sit around and wait for a load with a higher rate to appear on the load board, but you are losing money while sitting around waiting.
     
    Last edited: Aug 29, 2022
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  3. Judge

    Judge Road Train Member

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    Why wait?

    Stay “In your lane.”

    If i wait, I’m at the house, not stuck in a truck stop.
    If there’s no load I like, I’m easing towards home, if something comes up, great, if not , oh well, I’ll have a load by end of day that’ll load same day by house or the next day at latest.

    The load i got now, the defat bran, I unloaded 60 miles from this load, picked this one up on way to house friday,
    regardless about the load, I was headed home.
    When this load is dropped this morning, I’ll have two loads on the books for over $3k, got til Wednesday when I send my paperwork in through Best Mobile Document Scanning App for Truckers - Drive Axle

    Long as i send it in by 3 pm Wednesday it’ll be paid Friday.

    Some wait 30-60-90+ days.
    I’d say lease to a carrier, they make take 35%, but they deal with the headaches, you just pick a load where your spot market works, and go.
     
  4. Power Meister

    Power Meister Light Load Member

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    Right. Leasing onto a carrier saves time and simplifies things. Also, to run successfully as an owner operator you literally need 2 trucks, one parked at the shop, and the other on the road, swapping them as the break, that way it is likely there will be no downtime. And the 3k per week income is stable.
     
  5. Long FLD

    Long FLD Road Train Member

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    You don’t need 2 trucks. Maintaining a second truck and paying licensing and insurance on it just in case your truck breaks down is like buying a second house just in case the one you’re in catches fire.

    Maintaining your truck properly will alleviate against surprise breakdowns. I’m on my 4th truck and one time I broke down on the road away from my home shop. The rest of the time everything was scheduled at the shop while I was home.

    As far as leasing, I’m leased to a company that works well for me. I like what we do, and they don’t give me grief when I want to take a few weeks off. And for the most part the money is consistent. We don’t have the ups and downs like spot freight. If you want to be totally on your own then you’ll never be happy being leased on. But honestly I’m lazy. Hauling our stuff is easy. I work and get paid.
     
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  6. Power Meister

    Power Meister Light Load Member

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    Right. Leasing on seems to be the best option because it handles the work load and is stable.
     
  7. Brettj3876

    Brettj3876 Road Train Member

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    What works for someone doesn't work for someone else.

    And do not say because the avg spot rate is 2.40 or whatever that that's what people will avg if they only pull spot freight. That's just complete bs.
     
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  8. Judge

    Judge Road Train Member

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    I keep two, Theyre apportioned tagged $1700/year/each, when one isn’t hauling I put it on non commercial insurance policy, it’s $900/6 months/$150/month.
    Can pull an empty trailer, just not haul freight.

    Both trucks are paid off.
    E10CBB6F-24B7-4037-B44A-6A73BA9FACF1.jpeg

    If i need/want i can put someone in one.
     
  9. Long FLD

    Long FLD Road Train Member

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    My comment was more toward going into it thinking you need two trucks just in case. My old truck sat in my driveway for a while until I decided to sell it, but it had nothing to do with thinking I needed a spare because I was unsure of my new truck.
     
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  10. Long FLD

    Long FLD Road Train Member

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    It’s not that simple either. There are a lot of companies that will lease you on and then feed you loads off the load boards. The key is a company that is a good fit for you that has decent direct freight of their own. But even then, if your goal is to be independent and on your own you won’t be happy being leased on no matter what.
     
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  11. Power Meister

    Power Meister Light Load Member

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    If they are always driving and not sitting around waiting for higher paying loads, then how can they avoid not having to take a $1.50 load?
     
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