My numbers as an O/O leased to Crete

Just read this whole thread and wanted to thank you for putting your numbers out like that. It has helped me in my research. After 16 years as a company driver I will make the move into being an O/O next year (Lord willing). I am in SoCal so there is a lot of freight around here. I plan on buying an older well maintained truck under $20,000 and getting my own authority running percentage loads within a 400 mile radius. I am in the process of writing my business plan and getting all my ducks in a row.

In your last post it sounds like you may be going back to being a company driver. Did I read that wrong?

 

Knowing you, and the way you maintained that truck, if I had $25,000 I would buy it in a heartbeat

 

Yes I will be going to a private fleet here in TX if all goes well.

 

Me too.........

 

Thats pretty good. Much better that a company driver would get at .44 a mile. 108646 x .44 = $47,804 - taxes.
I really appreciate you taking the time to give people the specifics that you do, as it helps us determine the way it actually is.

 

I will post my October numbers in a week or two when the CPA posts my P&L (profit/loss) sheet. It will be my last. I have sold my truck & the sale will finalize Nov 15th. I will be taking a driving position at Poly-Trucking after Thanksgiving. I would prefer to remain an O/O but with no raise in mileage pay & a drastic increase in equipment & maintainance I cannot justify another truck payment.

 

I know a guy with Poly that runs out of Henderson,Nv and he loves them.

 

That's a shame but you did what you had to do. And at least you did it on your terms. A well executed exit strategy Still think you would have done much better at the right company on percentage regardless of living in a bad freight area. Maybe you'll get bored with taking orders and be up for a challenge again.

 

From looking at a lot of numbers of O/O's, you did better than most leased to a carrier on a mileage program. But you had to work your butt off. This is a great example of why I tell anyone that will listen (or not) that you have to get on a percentage program. Mileage pay will wear you and your equipment out just to get by. Some small exceptions but in general any 80% or better pay program will be much better for overall income and quality of life.

Hope you found a company with quality CSA score. Protect your score. It is going to be vitally important in the years to come as shippers are starting to ask about this before contracting or allowing broker to book a spot market load.

 

I won't disagree that a percentage type of pay can, and usually is, better than mileage plans. But due to where I live this just wasn't the case.

As to going to a company with a good CSA score, done. I was hired by Poly-Trucking last month and will be in orientation on the 29th of this month. It's my understanding they take a long time to hire a driver (2-3 months). Which is why I submitted my application Oct 6th; thinking I would probably start there (if hired) after the first of the year. This would give me time to save some money without a truck payment and disolve the business at the end of the year.

However, as I found out during the hiring process, due to my CSA score (0), stable job history, and other favorable factors my application was expidited.

I'm looking forward to being able to get home more often and driving for a semi-private carrier that pays well (.45 p/m on hub miles) and treats its drivers as an asset and not an expense. This I say based on what current Poly drivers have told me. So I reserve the right to post otherwise.