O/O Journey, Numbers and Updates

I have really enjoyed it this past year I started doing a lot of work myself. I’ve always enjoyed automotive. Worked at a tire shop and quick lube in my younger days. I always wanted the tools and space to learn more and the truck has offered me the opportunity to build my tools and try stuff out. I enjoy it a lot more when it’s not winter. I may hit the shops more if it’s too cold to enjoy it.

It’s also a bit of a failsafe. Builds skill in basic diesel repair / big truck tire changes for a smaller / backup business if things go south.

 

Was a slow few months as anticipated this summer. Back at it here in October. Changed 8 drives, patched a leak and but on 2 trailer tires also. Did my first brake shoe job - very simple. Also got new injectors and O rings and overhead done. Didn’t do that one myself. Truck was losing prime and I did everything I could think of up to that point. Fixed the issue and runs good now.

 

Poor looking four month span here. However it was anticipated as the slow period and also welcomed a new member of the family during this time. October picked up with most of that revenue.

Biggest expenses were the quarterly taxes totaling almost $15k. Insurance yearly pay at $6500. And drive tires and injectors at $8500.

July through October…
Total miles: 12,919 (8,006 loaded)
Total revenue: $34,297.04
Loaded CPM: $4.28
All-in CPM: $2.65
Truckin’ Expenses: -$33,038.73
Fuel: -$8,902.50
Driver Pay: $-27,000

 

Thank you sir! I went with Cooper LHD, I run 24.5’s. Last set lasted me over 250k. They still had 7/32 left but I wanted thick rubber on for upcoming winter. I was spinning out in rain.

My insurance is through Northland. But I have a small 300 mile radius and cheap old equipment so that definitely helps.

 

Good advice man and thanks! I agree with replacing “both sides” or whatever. Even though I find myself not doing it often… need to get better at that.

Definitely worth quoting a bunch of stuff. FWIW the great west guy I told my Northland quote to said he couldn’t get close to that. So worth a shot.

 

Hope everyone has been well in this ####e market. I am thankful and blessed as always to be safe and working and able to make a living. Hope others here are feeling the same. Personal life with the second kiddo has caught up and have not had time to post much, but have finally been able to get the 2023 recap finished.

It was definitely a humbling year as I switched out of one direct customer into a different one mid-year. Same commodity and everything but a different major player. It was a rough beginning but was able to find a groove late-year and that has carried over into 2024 to hopefully more consistent and greener pastures in the future!

Compared to 2022, I ran almost 15k less miles, grossed $74k less (about a 23% loss), but I did have about $30k less in expenses compared to 2022. I did tons of work myself - 2022 Professional (Shop) repairs were $22k but only $6k for 2023. I overpaid quarterlies in 2023 and got a sizable refund around May which was welcome! I have been running hard in 2024 and plan to post some updates when I get some more time, but for now hope everyone is well and here is 2023's Recap.

2023 Recap
Gross Revenue $269,565.00
Total Expenses (Incl Driver Pay) ($207,257.00)
Total Profit $62,308.00
All-In Miles 80171
Loaded/Paid Miles 50827
Loaded % 63.40%
Empty % 36.60%
Gross Rate $269,565.00
Quick Pay Fees 0
Loaded/Paid Rate $5.30
All-In Mileage Rate $3.36

Fuel
Raw Fuel Cost $54,896.00
Discount Fuel Cost $48,422.00
Fuel Savings/Discounts $6,474.00
Raw Cost Per Gallon $4.04
Discount Avg Cost Per Gallon $3.57
Fuel MPG 5.91

CPM/Weekly
Best Week Gross $13,604.66
Best Week Paid Rate (Min 1k Miles) $7.37
Best Week All-In Rate $5.07
Worst Week Paid Rate $4.63
Worst Week All-In Rate (Min 1k Miles) $2.41

Randoms
Driver Pay $78,000.00
Days Off 93
Equivalent Vacation Weeks 18.6
Nights Away From Home 0
Weekend Days Worked 0
Miles/Day (Actual Days Worked) 480
Miles/52 Weeks 1542
Miles/Week (Actual Weeks Worked) 2400

Trucking Expense Breakdown
Driver Pay $78,000.00
Fuel $48,422.00
Truck Repairs - Personal $10,919.00
Truck Repairs - Professional $6,283.00
Fed/State/Payroll Taxes $41,648.00
IRA Contributions $0.00
Truck Insurance $6,724.00
Truck Taxes, Dues $3,040.00
Supplies / Tools $6,497.00
Misc Trucking $4,007.00
Accounting, Legal and Professional $1,717.00
Total $207,257.00