Is it viable to be a solo owner operator?

Instead of focusing on mountains of gems, diamonds and good things in life try to make a list of what it costs to own, tax, drive, license, tag, fuel, tire a big truck.

It will be a bit of a learning curve. Don't do it until you have the resources, understanding etc.

In my time I bought a midroof for 41K which at that time was part of a facility school designed specifically to train company drivers into becoming a O/O over 4 years with a incredibly structured situation. The outfit was not more than a few hollars east of 81 above Carlise at that time period in the 90's when I got involved. Before I signed that paper I had spent three months carefully talking with one of the people there asking many questions. They were more than patient with me.

The reasons that was not successful has nothing to do with the situation other than the owner of the facility did discriminate against my hearing (In which we did not hear a word about up until I actually bought one of his trucks believe it or not...) and decided that he wont be having me in the program. And that was that.

That was a long time ago. At that time we were fixing to see a range between a break even of 1.10 to about 1.50 freighting fuel mileage was supposed to be around 5 or so average and so on. 10% was to be set aside against a engine failure if that ever happened and you did not have funds, it's the end of that truck and your business potentially. I think it was a 425 cat on a rockwell short 9 with about 200K something odd on the clock, probably good for 750K if not more miles within 6 years to 8.

That's all I have for you that is specifically about buying a truck and going into business for yourself as a owner operator. It's not very much at all but it's something. There will be many others who do own and run trucks, some paid for, some soon to be others cutting costs etc.

 

I'll start you off with one item that is easy to figure. Fuel.

Using FFE's Century with 340 gallon tanks, we were a team filling 300 plus every 24 to 30 hours give or take a little bit. The truck reports a 6.5 miles to gallon average. 300 or so gallons is good for 2000 miles.

Now if fuel was 3.00 a gallon times 300 gallon, the bill is 900... ergo .45 cents a mile so far for that fillup.

HOWEVER...

one time we were sent to Salinas Americold by several dispatchers pleading with us, code red emergency get there now. So we did. At the dock office they said nuh uh sit there until we call you.

50 hours later were down to less than half tanks, reefer about dry and needs 100 gallons (Started transferring tractor fuel at this point...) and Salinas Truckstop not too far away hopefully.

THAT was a VERY expensive sit for a team of two in a prefrozen reefer howling in high range expecting a cold load.

I'll leave it to you to see just how much fuel it took just to get out of Salinas to go east with it.

 

In addition to that .45 a mile, payroll to wife and I is around .75 or so to the truck per mile. So fuel plus payroll = $1.20 a mile.

There is more to consider. But I think that's enough for me tonight. others can fill in.

 

Just go for it. Learn it 101 style.

 

I don’t do a breakdown sheet. I just pay my self a bi monthly salary and everything else goes to the truck fund. Basically I do it blind sighted, why you ask, cause I been it long enough to know my costs in my head when I do each load. In this business, it’s up and down, fuel is primary. You base it on an average. Anyways..... to much to explain and I don’t have the patience. Btw, before I became O/O, I drove for a small O/O outfit for 4 years and learned it all I needed to know, from servicing the truck, changing tires, to doing the books, etc. But this was back in the day. I have had my ups and downs which is normal. The main thing that you have to remember is, learn all you can about the trucks, what i mean is learned how to fix all you can in that truck before you take it the stealerships.