"Net income" after expenses and taxes.

Those who entered the ownership not too prematurely and that means having gathered enough capital, sure make more money than what they did as company drivers. Every now and then, there is going to be a company driver saying he makes this much or that much, undermining the sense of being o/o on a strict money level, but they won't tell you the number for their company recruitment though. That means that there are not too many CDL jobs available to allow lucrative earnings of 80 -120K a year.
Such a simple idea as a net income, unfortunately is never too clear. Some include in their costs items that are very arbitrary such as driver's pay, payroll taxes, maintenance fund, replacement fund, health insurance, their own SEP IRAs....diluting their arithmetic business profit to minimum, yet retaining control over the money that were never really spent.
In my view, not including these arbitrary things in the costs, one truck owner operator with a dry van should clear at the minimum $80K a year at all times at 100k miles (work intensity level). Less than that should be a little embarrassing IMHO. I guess, the median net income for owner operators is somewhere between 80 - 120k a year at 100K miles a year. This year so far, unlike the previous years 2015/16/17, allows to stay, relatively easily, above 2 dol a mile for a dry van with all miles loaded and empty. So 100K could be a very realistic target for everyone. Some may have a bigger overhead than others e.g. truck/trailer payments and they have to compensate with better rates or mileage to reach their target.
In 2017, my first year as a new MC# I cleared 60K @ 94K miles (embarrassment in my standards.) This year, I am at 65K profit already at 50K miles so far. I am completely dependent on a spot market and there is little you can do, if they start paying 1.5 dol per mile again, once the cycle goes down.

 

Lol I pay my driver 1500 to 2000 a week

 

I run flatbed with a small company. I'm paid 85% and need a trailer. Here are my numbers broken down weekly.

I usually do like San Antonio to Philadelphia or something similar. Then a load right back.

Income
Depends on loads and freight but I would say $6,000-$7,000 avg for 7 days.

Deductions
$366 insurance, plates, logs, trailer rental
$1800 fuel

I think the lowest net income I've made was $3,900. I average $4,300.

Truck is a 2003 and is paid off.

Edit: to answer a few more questions, I wish I did this a long time ago. I never in my dreams thought I would be making over $4,000 a week. I've even had a $10,000 gross check more than once. My advice is to save money, fix problems asap on your truck and never wait, find a good mechanic that is willing to work outside of their shop, and build relationships. Actually do a PTI every day and I would pay yourself a salary and save the rest for future truck or repairs.

 

Reason I'm posting this is I want more people to be owner operators and stop being honey bees for a queen bee.

 

That's one question too far. LOL Perhaps PM him...it may be too sensitive info to disclose publicly.

See, that's the problem. People thinking of buying a truck are often impressed by what is said by some owner operators (not only here) about their income and perhaps life in general and then they think that they can replicate the same. It is better to expect more moderate level, not 4K a week all the time, especially if you don't want to do a long haul when you're out of the house for more than a week and wind up doing 34 hours somewhere on the road.. I am not saying that netting 4K a week can not be happening but it is like with company drivers - despite the fact that some will make over 100K a year- the vast majority will be in 60-70K range and that's the reality prospective CDL holders should expect, so that they are not frustrated. Another thing, people in general have tendency to talk about how well they're doing, but few will say that they are miserable. Only few will show up on this forum and say that they had high hopes with their truck purchase but it turned out to be a major f...up that complicated their lives.

 

It is never that simple is it I had a really good friend and hard worker watch me for years and try to replicate my success ...it ended up reaking havock on his finances and I bought a truck to put him to work ...
The sacrifices we made to get ahead what we gave up to build our reputations the weeks spent in a hot truck with no ac etc etc to get where we are now that is never mentioned I agree ....or the number of frogs we kissed to find our deal now

 

Despite my efforts, I cannot even replicate my neighbor's lawn. It is always greener than mine. I did spent quite a sum on it over the years too.

 

That's just it.

Those of us doing really well now could show our numbers and someone with no idea of what it took to get to this point will want to get a line of credit, finance a truck and be under illusion that they can replicate the same thing immediately from the get go.

Everything can be made to look good on paper. But the reality of what is involved to maintain it, the effort and struggle it took to make it to this point are things people don't see. Everyone wants to be CEO. Few people understand what it takes to get there and even less have the work ethic and tenacity to invest the years it takes to make it happen.

Net income and gross income for me are a direct variable of how hard I want to work.

I will say this. And this is not meant as an insult towards those who only see low numbers, but $1200, $1500, even $2500 weekly net would be a really bad week for me.

Hurst

 

Wish I never bought my first truck. But after all this time (decades) id never go back to being a company driver now.