Owner operator worth it

hi guys I have a couple questions I am buying a truck and putting a driver in it (my brother been driving for yrs) we are from Pennsylvania and being home on weekend are important to our family. I have started gathering info on the numbers involved and want your input in if my numbers are wrong or off. As for what were hauling still figuring what company to lease onto.

Please if u don't got anything good to say don't post this is a very important time for me and need to know the truth if my numbers are right.

Please remember this is all ruff numbers miles and all just going off internet research and other family owner operators


2750 miles per week
132000 miles per yr

Truck- .06mile per yr 8806
Cargo insurance .04 per yr 5,280
Fuel .50 per yr66,000
Tires .02 per yr3600
Driver .40 per yr52,800
License and permits- .01 per yr1320
Taxes .01 per yr1320
Repairs .04 per yr5280
Work comp .02 3400 per yr

Total- $1.10per mile.

BREAK EVEN POINT

$147,800 per yr
$3079 per week


$211,200 gross at $1.60 per miles average at 132,000 miles per yr
$63,400 net pay after truck expense
-.35% taxes
$22,190
=$41,200 take home

 

? This is why I am here. I talk to a lot of family members who are owner operators and get the sense they butter up the money a lil bit or expenses. I put my numbers up I am hoping someone can add to it if I'm low balling something or add numbers if I am forgetting something.

I am really just a bank here I got the cash to buy the truck and wanna help my brother out by putting him in my truck would love to raise his pay but not going to till I see where we are at.

I'm not planning on paying myself anything for steady the first yr or more till I can get 30,000-35,000 saved if possible.

 

I talked to him now he works 2weeks and then off a weekend and he wants to keep it that way so it's not home every weekend. And my miles per week could be more these are just the numbers I've been givin by my dad who owns his truck

 

And he runs 4000 miles a week now.

 

Based on my numbers are they realistic? It really comes down to I need to profit around 40k a yr to feel safe. As far as capital goes I could float a lil but am crossing my fingers to make it at least 4montgs

 

If I make it 4minths no break down 1000 a week profit being saved in a business account I'll have 16k saved

 

Does my expenses seem right? Does my profit seem right?

I tend to overthink a lot of business decisions lol and being new here I need u guys to help my mind lol and tell me if my goals are realistic.

And load wise it's not freight it's either milk and cream or grain.