O/O Journey, Numbers and Updates

Here is the 2022 recap numbers for those that may be interested. Noted above, it was a really solid year three and first full year of authority. I was able to build up my reserve account in preparation for a different truck or a motor / tranny rebuild. Also a newer trailer in the future if prices ever come down, or if not, guess I'll have to accept that.

2022 Recap

Gross Revenue
$343,406.03
Total Expenses (Incl Driver Pay)
$(238,962.27)
Total Profit
$104,443.76

All-In Miles
94486
Loaded/Paid Miles
63064
Loaded %
66.7%
Empty %
33.3%

Gross Rate
$343,406.03
Quick Pay Fees
$ 0
Loaded/Paid Rate
$5.45
All-In Mileage Rate
$3.63

Raw Fuel Cost
$(73,769.25)
Discount Fuel Cost
$(65,956.11)
Fuel Savings/Discounts
$7,813.14
Raw Cost Per Gallon
$4.63
Discount Avg Cost Per Gallon
$4.14
Fuel MPG
6.2

Best Week Gross
$11,918.32
Best Week Paid Rate (Min 1k Miles)
$6.87
Best Week All-In Rate
$4.93
Worst Week Paid Rate
$4.49
Worst Week All-In Rate (Min 1k Miles)
$2.38

Driver Pay
$73,800.00
Days Off
69
Equivalent Vacation Weeks
13.8
Nights Away From Home
0
Weekend Days Worked
0
Miles/Day (Actual Days Worked)
495
Miles/52 Weeks
1817
Miles/Week (Actual Weeks Worked)
2473

Trucking Expense Breakdown
Driver Pay
$(73,800.00)
Fuel
$(65,956.11)
Truck Repairs - Personal
$(6,514.84)
Truck Repairs - Professional
$(21,335.49)
Federal Taxes
$(23,980.00)
State Taxes
$(7,837.00)
Payroll Taxes
$(7,650.00)
IRA Contributions
$(2,175.00)
Truck Insurance
$(13,504.49)
Truck Taxes, Dues
$(3,883.94)
Supplies / Tools
$(8,103.80)
Misc Trucking
$(1,857.58)
Accounting, Legal and Professional
$(2,364.02)
Total
$(238,962.27)

 

Here is the update for January and February. Great start to the year, but things will start to taper down now. March will be solid, but April thru Sept will more than likely be hit or miss. Probably average ~25k gross per month instead of this juicy ~35-40k. Enough to pay bills and perhaps bank a few bucks.

January...
Total miles: 10,309 (8,396 loaded)
Total revenue: $43,988.24
Loaded CPM: $5.24
All-in CPM: $4.27
Truckin’ Expenses: -$1,180.24
Fuel: -$7,206.91
Driver Pay: $-6,000

February...
Total miles: 9,503 (8,256 loaded)
Total revenue: $43,010.66
Loaded CPM: $5.21
All-in CPM: $4.52
Truckin’ Expenses: -$1,299.54
Fuel: -$6,403.12
Driver Pay: $-6,000

 

Would like to thank everyone for the kind words and motivation. I am almost certain everyone commenting has more experience than me, so it means a lot coming from folks who've been riding the pavement for a long time.

I do want to remind folks that I do run a bit of a "specialized" or "niche" dry van. I have an electric pallet jack on board that needs to regularly manually load or unload 0-44k loads. I need to do this myself no matter the weather, could be -25 or 110 degrees, and a full load usually takes 30 mins in the elements (granted protection from precip and some wind) on average. Some days I stop once, some days make 10 stops similar to LTL. I did that just last week. Some days I don't use the jack, but other days I do, and it's expected to be used whenever needed and onboard and ready to go. So that does explain some of my higher rate as I do service that market exclusively.

I appreciate the comments sir. I have definitely thought about a newer truck, but I don't know. There are benefits to having ELD exemption when you are home daily, I will say no more. And I simply need to be home daily... So far it's been 3 years and I haven't missed a day. A glider would be awesome someday though.

Thank you. I agree, lots of money spent on repairs, and I stepped up this year to do more than just my own services. I started to do tires, shocks, drums, I did a starter, swapped my own fuel tanks and a few other things. This year I plan to do that plus learn to do brake shoes, possibly cams and chambers, and perhaps U joints. But I agree regardless, lots of $$ spent either way you slice it.

Thanks for the words! Agreed, finding a niche or contract is key in my opinion. Unless you're single and low personal expenses, it would be seriously hard to make it work right now just being run of the mill load board work. I am just a one man outfit, yes. Yes, taxes are a real pain, but now that I am in year three going into four soon, it will be easy for me to escrow X per week and expect pretty consistent taxes and revenue here-on out.

Thanks! I agree. Funny story was I maxed the Roth IRA this year, not expecting to exceed the income limit. So I refunded it and instead of putting it into SEP I just put it toward the tax bill. Yes I lost some $$ on that, but I have trouble letting go of cash and I had a big tax balance due so I just decided to put it toward that. No more Roth for me going forward.

I appreciate it deeply sir. Sometimes I think I am not doing well. It's good to hear reinforcement from other folks!

Yes man I agree, keeping up is a burden but also helps a ton on keeping a real-time gauge on things. I try to dedicate one night a month and a bottle of the good stuff to getting the previous month logged and in order. I have always for my whole life had trouble letting go of cash. However, I think I will try to bite on the "upgraded equipment to write off" thing at the end of this year. I have a good nest egg saved and would feel more comfortable now getting into a newer van or something and being able to save $40k (10k or so) worth of taxes.