Owner operator worth it

One thing I do not see in your number is do you own the trailer and if not what is the lease or rent on using someones trailer. also tires are way to low especially if you are running down rural roads .06 is more realistic that includes flat repair and rotation. where is your pm figured in to this oil changes, lubes and the like that will run around 4000 at one oil change ever 10,000 miles x $300. a lot of your number will depend on what type of truck you get and what the payment will be I do not see that figured out in your numbers either. even if you buy it out right you still have to recoup that money before you see a return

 

Not worth it for that money. Too much risk not enough reward.

 

I love all the unrealistic dreamers, who haven't learned math, or refuse to listen .Dear newbies, I'd like to encourage but please don't be that desperate company just spinning wheels to stay above water, I work with all these guys who accept that our rates are too low, yet keep buying more trucks to offset the lower profit margin, instead of saying NO, let the brokers beg us to haul it, THEY beg for more cheap freight so they can work harder for less and to have a depreciating piece of equipment, just to see thier own name on the door. Its pride of co-ownership.And in the end you could just let your bro keep working , until he's ready to do research and invest in himself. Thanks ....can I get an AMEN!

 

A buddy of mine just bought a truck and he has a really cool broker that finds him very well paying loads and generally after all his expenses are paid he still averages about $3,500 a week in the positive but if anything catastrophic was to happen like blowing up an engine those profits would disappear really quick.

 

Yes, and expenses also show up after running the tar out of a truck for 4 or 5 years, so just when u think It's about time to break even, then its time for a replacement truck, and start over and how good will the economy b then

 

I completely agree...oil changes, washes, rotations, tolls, money towards your next truck. Doesn't seem worth it. And you never did say...why exactly does this brother need to work for YOU. Why not work for a well established company and make the same amount or more? Seems like maybe there's something amiss....is there something on his record that won't get him hired with someone else? I'm still new at this...but the only way I make money as an owner is to ALSO be the operator. That way I know my money is mine and the trucks. I take more pride in what I do. I take better care of my truck. Doesn't sound like a very safe way to start out being an owner. But that's just my newbie opinion.

 

As some of the others have alluded too, if your brother is a good driver and has a clean record you will not be doing him an favors. That is a low pay for an experienced hand.

 

I could be wrong, but 35% for taxes seems a little high. Ive been reading lots of blogs that are quoting 20%. I am also looking to become an O/O soon, buying my own truck etc. I've been quoted profit from a large swing from $40k ann. to $80+k annually. It's hard to believe any of them... just gonna "jump in"!!!! Lol

 

Ive been a company driver for nearly 5 years, I'm ready to jump into the deep end. Where's your buddy leasing out of / to???

 

He has a friend that has his own authority and he's running under his friends Authority but the guy only has one truck