Owner operator worth it

I didn't read through other posts, not sure if something's are mentioned.

Positives: I wish more owner operators understood how to break their numbers down. You at least understand that part. This is good cause you can always see what will make financial sense and adjust your business properly. Also your brother will be driving and he gas expirience.

Negatives: You haven't included ifta, and your calculations are off. Are you buying a truck in cash? Older truck? New truck? Older trucks will cost your 15k a year f you're lucky. Also TOLLS!! Are you going to be running a lot of toll roads? Rather you buy a new truck or a used truck with everything your operating costs should be around 1.50/ mile including driver pay. Now are you leading to a carrier? What's their cargo insurance? Also what's their percentage from the line haul?

If you can have everything cost your truck to operate at $1.50 a mile including driver pay, and you can stay above $2.00 a mile avg, after carriers lease percentage,you may see your goal and make 40-50k if everything goes smooth.

Re work your numbers a little bit, and see what the carrier you're being leased will offer.

 

GUESS WHO will make a truck have lower expenses, the driving style, work ethic of the driver.Does he sleep at his drop point to take advantage of his clock.A GOOD driver can save or waste$ 10 -20 annually. The guy paying all the bills is usually the most careful.If he's got 11 years of experience ,he's about halfway where he needs to be...Unless it was 11 years of being an actual o/operator , then its a lil better. I like the idea of matching your brothers investment, or just helping him with a loan.Or maybe be smart and help him get a state job so he won't be broke and broken like MANY of the 3600-4000 mile a week club is.Last week I made $5k gross.About 950 miles. Under $1000 in total expenses for the week.Yet every year I net $60-70 k.Oh yeah and my ### was in the seat for over 70 hours.Never base numbers off of great weeks, there are weeks that the numbers flip and u drop 4 k to get 1 back. Should START with enough to replace the TRUCK, not the motor cuz Murphy's law is REAL.

 

OK I've changed my opinion, YES YOU SHOULD DO IT! I've read every post, good folks have answered you honestly and sincerely. You've ignored almost every one, because they didn't say what you wanted to hear. You have thanked almost no one for their input, or for the time it took them to offer you solid advice.

You have been a member here for 3 days, by your actions and somewhat nasty replies, I think you're a troll. You're looking to just stir the pot, and seem to have no intentions of actually going ahead with your poorly planned approach. So I assume you're really here just to argue with good people, for your own amusement.

I have friends who have hauled milk for years, doing farm pickups, they don't do big miles. Farms are usually located in rural areas, not right on the side of an interstate, more often on back country roads, where you just can't do miles. Maybe your talking about drop and hook, so I could be wrong about farm pickups, which always take time to transfer from holding tanks to loading the tanker, and taking milk samples from each and every pickup. They don't have the option of skipping a pickup, even when the weather is terrible. If the state doesn't shut the roads down by an emergency order, they crawl from one stop to the next. A 10 hour shift can easily turn into an 18+ hour adventure.

You've mentioned that you're a state employee, if that has the same meaning as the state where I live, you probably make great money (overpaid), have a benefits that no private employer could ever equal, 4-8 weeks of paid vacation a year, and virtually have a job for life, with little regard for your actual performance on the job. You have even ADMITTED in a post here, that you are doing this exploration for your brother, WHILE YOU ARE AT WORK, that is THEFT of government property / services. WHAT DOES THAT SAY ABOUT YOU OR YOUR INTEGRITY?

So I say take your $40k, buy a truck, doesn't matter what numbers you choose to use, and go for it! Just stop wasting everyone's time here.

One last thought, what if your brother has an accident in your truck, and it results in injures or fatalities. The liability insurance you buy, for $1 million in coverage, is far exceeded by the liabilities you owe, they're not gonna take your brothers house, they gonna take YOURS. All because you wanted to be a banker, who thought he was smart enough to double his money in a year!

 

How do you hit thank 50 times?

 

OP, is there a reason your not getting your own authority and choosing to be a lease operator?

 

If you're "gross" revenue is less than $4000 a week you will lose. Instead of thinking about how to pay for a used truck, if you can't be profitable paying for a new truck, there is not enough revenue there. Just my .02

 

What are you including in your first calculation labeled truck at .10 per mile?