I is free!

I think you are responsible for your repairs. The $.12 cents just goes into a maintenance account and builds for when you need it. The company in actuality loans you the money to get your repairs done if there is no money in your maintenance account right away. Be prepared because if you do breakdown they will pay for it but they will also be taking a hefty chunk out of your pay until it is paid off. Its good in that your account won't be drained and leave you belly up with no way to make money but by no means don't be mislead in thinking they are going to "pay" for your repairs. You will get the bill!

Also there will be a lot of expenses that will occur that they may have not necessarily gone over with you. One of them being an overmileage fee. Usually kicks in around 11,000 miles. As long as you are running team or training you shouldn't exceed this too much. Another bigger expense is going to be insurance. As a lease operator you cannot utilize your companies policy. You maybe able to get a discount though. So start shopping or keeping your eye out for good medical insurance. I would recommend the OOIDA website. They have a lot of really good links on their site for owner operator services and needs. There are many other little costs that you will stumble upon when you first get out there. Just make sure to have a plan when you run into them. You said you have a business background so I'm sure you know how to write a good business plan. Stick to it! Not sure if they include this in your lease plan but you will need a good accountant too. ABS is pretty good and they make it very easy on you. Keep your taxes up to date and pay quarterly.

When fueling don't just look for cheap prices, keep taxes in mind too! Everyone thinks Georgia is the cheapest to buy fuel but later on down the road they are going to tax you on it and you will find it to be more costly then a lot of states.

Here is a biggie! Now that you have a year behind you and a notch in your belt you should be fairly decent at your driving skills. However, you are no longer a company driver and must really refine your skills if you want to make money out there. Every single little drop of fuel is going to make a difference. Pretend that truck is governed at 64mph or less! You will be blown away at how much more money you will make! Its summer time too, don't fuel in AZ at 3pm! The cooler the fuel the more you get! Do whatever you can to conserve fuel. Watch how you accelerate and when ever you leave the interstate its going to cost you money. I'm sure you know about idling. If your not hot don't run your A/C. More stress on the motor and burns more fuel. Also bang through your gears as quick as possible without bogging down the motor. You won't to keep your Rpm's down as low as possible. The quicker you get through your gears the slower that motor burns up that expensive juice. You can skip shift too when empty or light. Within reason try to minimize your downshifting too.

Tires - No dry turns! Refine your backing. Ever see all that black dust in the truck stop parking lot? That's tire dust from all the backing and dry turns etc... Slow around curves and corners. Every single day check your tire pressure and also keep them rotated and inspected. Tires are a big expense but like I said, if you have refined your driving they will last a long time.

Brakes - Same deal. Use your Jake whenever you can. Its actually possible to drive the truck with out using the pedals by using the cruise control and Jake. If you aren't using your Jake then use your hand brake. This way you are using company brakes and not yours.

STAY OUT OF THE TRUCKSTOP!!! CHROME SHOP TOO!!! Can't tell you how many drivers blow most of their earnings in these two places! Would you rather have a shiny truck or money in your pocket? Your truck is a money making tool, you wouldn't chrome out a hammer if you were a carpenter would you? Another really big cost is DVD's and or entertainment. Not much else to do on your down time right? Wrong! Try excersizing or something else to pass the time. Eat out of the truck and get your groceries at Walmart. Going to save you a ton of money! Make it a treat to eat out once a week or so at one of your favorite restaurants. Here's a biggie that drivers don't think about too; bottled water! Seriously?! Get a gallon jug and refill it at the little sink or fountain machine when you go in the store.

Sorry man to ramble, just trying to give you a few little tips. Make it a game out there. See how many pennies you can pinch and how many drops of fuel you can conserve. I'm sure it will take you a bit to get yourself in the groove but you can do it. You've done pretty good so far!

Good luck man if you need anything holler! Drive safe!

 

If this is none of my business just say so; but what was you're approximate gross in this first year?
What was the biggest challenge you had to overcome?

 

Good job, Digger! You should have many years of success, it seems you've thought this through.

 

Congrats that's what I did and got about a .10/mi pay increase.

 

Thanks gravdigr. That sounds about right.
You're a man of great fortitude.
Keep it up!