Check My Numbers V.2

I understand that, but both go together. You have to take that into consideration. If you don't have the funds to pay for maintenance and repairs and equipment payments, your not going to survive. The best advice I can give you, is when you become an owner operator, always put away as much as you as you can for maintenance and repairs, even when you have really good weeks.

 

Try $2 a mile and less miles.

 

Where is DEF costs?
And only one scale per month? Really?

 

These numbers are very unrealistic. 46 weeks a year working is going to be so hard. If you ever have to wait for a part your whole week will be screwed. With a financed truck and a trailer on spot freight there is no way you will ever be able to pay yourself $1 a mile. With deadhead you will not do better than $2.25-$2.50 a mile currently.

Have you done any research to see how many owner operators fail? What I and other owners that I know of did was start the business paying ourself just enough to survive. I think my first year was $22k and my second year was $28k so I could build things up and invest in the business.

 

I like the fact you're crunching the numbers, and not being argumentative when challenged. I wish more new entrants would do the research before jumping in. There are many good points made above.

We did it like this, and as @Kshaw0960 stated, until we were debt free in the business.

1099 revenue comes in the door for the week . . . .

• 15% off the top, into 'TAX' account.
• 30cpm into 'MAINTENANCE' account
• 15cpm into 'EQUIPMENT UPGRADE' account
• .40 cpm driver wage processed as an employee (I'm the driver) - and paid into our personal account.
• Remaining revenue into 'COMPANY' account.

Out of the 'COMPANY' account, loan payments were made, any business related expenses that were not maintenance.
TAX account - paid quarterlies, payroll taxes, and end of year taxes, including CPA fee.
MAINTENANCE - obvious.

The first 6 months we just crossed our fingers and rolled. The accounts built up, we lived on less than $30k in wage, until all equipment was free and clear.

The goal wasn't to work 46 weeks of the year though. It was so she could retire early, and I could sustain the household working less than 6 months/year.

I guess what I'm trying to say is I think you're doing a great job of examining every tree, down to every branch and leaf, but you need to put the drone in the air and get a good look at the forest.

 

Good point - DEF needs included.

On board scales would probably reduce any CAT scale costs significantly, the Right weigh units are super accurate.

Where are the costs for RETIREMENT and HEALTH INSURANCE ?

Oh - tires is probably too high. One set of 18 tires may run you about $10,000 - and should last the 185k miles you're basing this on annually.

 

Depends on if you do it yourself or take it to the dealer.
I do my own for around $600 a year. The dealer would probably be around $2k.