paper trailing O/O loads and finances

Discussion in 'Ask An Owner Operator' started by snowwy, Aug 26, 2009.

  1. snowwy

    snowwy Road Train Member

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    ok folks. i'm interested in being an O/O and decided to paper trail how the loads might play out (somewhat). so i've found a sight with loads. (i'm not registered so i can't vouch for the authenticity). i also found a computer program that not only does HOS. put can also do expenses and manifests. so not only can i papertrail what weeks out at a time might play out but i can papertrail the revenue. this program has a 60 day trial. and only has 4 lines. (i heard one post mention a line 5, so i don't know what that's about or what companies use line 5).

    this is not to discourage or anything. i'm just doing a papertrail to see how things might play out. and i'm sharing the experience.

    so here's how the story is going to happen. i'm going to papertrail my life as a O/O. but use LEASE OPERATOR conditions. to see how busy i am going to be and while i'm at it, a general rundown of the what the revenue will look like. this is just going to be a basic breakdown of the worse case scenario. (as far as revenue is concerned). and this will be played out in real time. as the loads happen. and as the log book provides for hours. (although it's more of an end of day update as i have to work in real life too).

    we'll be running a brand new truck. (any truck will do). our payments will be $650 a week. (most people seem to be paying less). we'll be using fuel expenses. (i'll be looking at the prices each day i fuel up using either flying j, pilot, ta, or loves). if anyone has any other fuel names feel free to bring them up. most people seem to be getting 6.5-7 in there governed truck so we'll use 6mpg as the standard. we'll also be using a lease operator pay of .85 cpm. (that's the lowest, most seem to pay .90 cpm. and some have additional fees going back out). and the pay will be dispatched miles, not actual miles. and we'll also be spending $35 a day for living expenses. this will not take into consideration any drop pay, detention pay, FSC, or other expenses or pays. OR what an actual O/O makes running his own freight. this is strictly truck payment and fuel. and the truck holds 200 gallons. and we'll be using most of the fuel before fill up. (unless i can't find anything where i plan on stopping, then i be fueling up along the route). i'll also be using 10 hours on duty time. (give or take)

    i'll also be starting with a bank account of $0 dollars. to see how long before i start making a profit. i'll be starting with my own money so naturally my truck account is starting in the negative. and i'm lucky to have a few bones to use. so i won't be using any draws.

    i welcome ideas so i MIGHT change things around in my papertrail. as far as fees go. yes i can change my logbook program just like you can fudge your logs. and i can add or subtract my fees. i also might be fudging my logs if i find myself going down. :biggrin_2551: so this story MIGHT get edited from time to time. just hope DOT isn't reading. :biggrin_25523: it's a computer though. so my logs will still look neet.

    i'm doing this as in idea of what i might expect. and so that others can have a general feel of being a O/O, earning the same pay as a company lease operator. this is just an idea of what owning a truck will be like. this does not take into consideration the various fees that companies like to steal from you. this does not account for permits and insurances. and this does not take into consideration what bills you have at home. nor does this take into consideration your breakdowns and maintanance. so you need to think about those things. this also doesn't count for sitting time waiting for a load or unload. (we'll be hoping to keep the tires rolling).

    i bought this truck through a bank. $0 down payment. i have no permits and insurance. just a truck payment and fuel and cost of living. and i'm making the lowest pay scale offered. hauling my own loads. payday will be after each load. (if only that happened in real life). truck payment due each week.

    so here we go.

    DAY 1. 7:00 a.m.
    flying J in salt lake city, utah. pick up my brand spanking new truck. (boy she sparkles in the sun, and all that chrome is blinding me).
    the truck didn't come with one drop of fuel in the tanks. :biggrin_25510:200 gallons right off the bat. x $2.65 = $530. first load of my new career as a O/O. 8/26-8:00 a.m. is pick up, going to abbeville, SC. 1987 miles. 8/31-8:00 a.m. drop off. actual miles is 2010. half hour pre and post trip. driving time is 9.5 hours. 440 miles to cheyenne, wyoming. avg. speed is 46.5. (#### wyoming mountains). on duty at 8 a.m. parking at 6 p.m. $35 for eats and smokes. day 1 in the books. total revenue= -$565. (see the negative sign)?

    sleeper berth now. clock starts at 4 a.m.
     
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  3. SpeedyWho

    SpeedyWho Light Load Member

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    Good Luck man it allways costs the most to get the whole thing off the ground. Hope everything goes good for ya. Sure looks like you have plenty of time on that load, 5 days and 2k miles. Get that load kicked off Friday .
     
  4. bullhaulerswife

    bullhaulerswife Forum Leader/Admin Staff Member Administrator

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    Ok, I get it, your setting up a fantasy trucking company. LOL Nice idea. :biggrin_2559:
     
    broncrider Thanks this.
  5. snowwy

    snowwy Road Train Member

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    yes, it's my fantasy and i'm' not sharing. :biggrin_25522:

    isn't the first to do when planning a new step in life is to do a papertrail? or a business plan. of course, the papertrail don't mean squat when it comes to reality. but i'm trying to learn ALL angles. i only wished i had a actual road atlas so i know where all the rest areas, scales, and fuel stops were to do this papertrail. PLUS, a general breakdown of all expenses. (permits, insurance, etc.) for now i have FREE. and i once i figure out EVERYTHING i can go back and change things. then have a more perfect picture of what to expect.

    this weekend i might actually buy an atlas from one of the truck stops. or gps software if i can find the one i seen mentioned somewhere on this sight that supposedly has everything just like an actual map. for now all i have is google earth.

    and by sharing this i have notes to review AND others can gain some perspective of trying to be an owner operator
     
  6. snowwy

    snowwy Road Train Member

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    day 3

    left cheyenne wyoming at 4 a.m. stopped in north platte, ne for fuel at flying j. 110 gallons x 2.65 = 291.5. only did $25 for living today. starting to feel the weight added on. so skipped breakfast. parked at 3 p.m. made kansas city, 636 miles, 10.50 driving duty. gotta love flat land and a non governed truck.

    sleeper birth. clock starts at 1 am.
     
  7. rollin coal

    rollin coal Road Train Member

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    One thing you cant factor in is the unknown. I just started a month ago and already had an exhaust manifold crack and had to replace themostats that's cost me $1500. Warranty should cover you in a brand new truck but the downtime alone is going to put a real crimp on your finances starting out with zero in the bank plus that $650 weekly truck payment - I just don't know how anyone can handle that kind of pressure.
     
  8. snowwy

    snowwy Road Train Member

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    yeah, i'm just trying to get an idea of what to expect. and so that others might think twice before leasing.(students come to mind). hopefully someone will come along and post what other expenses come to mind so i can change things accordingly. (such as permits and insurance). looking at financing for used trucks i'd be better off financing a new truck. for basically $2 more. (so to speak)

    i'm looking at how i can actually get into being an O/O. if it all possible. i would consider something used from some backyard if i thought it would last long enough to actually make some money b efore downtime. i seen shneider actually has some of the best deals on some 2004 FL's. cheap price and decent mileage. but only 370 hp. and there's the local auction next month. about 200 rigs for sale. defenitly gonna see what happens there.

    with the economy and all. this is a #### good time to get in the game. before things start picking up again.
     
  9. TURKER

    TURKER Medium Load Member

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    HEY SNOWWY.I enjoy the concept very much.I am one of the driver thinking to be O/O Iam sure it will have effect on my desicion at the end. Thanks
     
  10. snowwy

    snowwy Road Train Member

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    your welcome

    i've seen a lot of posters give negative remarks to a computer logbook software. you all would rather prefer the books. and that's fine and dandy. but i'll say this. $60 for the program. and it's well worth it. it will save your arse day after day. it does all the adding for you. it has all the violations programmed for you. it will do everything it needs to too keep you out of trouble. it will make your life much much easier to run the program first BEFORE you go writing down in the books. PLUS. it comes with expenses. and it's soon to be upgraded to use a gps so you don't have to figure out where your at. i will most defenitly be buying this program when my 60 days are up. if not sooner. $60 bucks is cheaper then DOT fines. and a tax write off comes in handy.

    but hey, who am i to argue if you want to spend 2 hours doing all the math and scribble marks making sure your books are NEAT AND LEGAL. watching the sweat roll down your forehead becuase dot knows your illegal becuase you didn't take precautions in making sure you didn't overdo it. the program can be fudged also. and it comes with red flags AT NO ADDITIONAL COST.

    i've seen another program. cost the same price. but i didn't see it having any features for expense tracking.
     
    Last edited: Aug 28, 2009
  11. snowwy

    snowwy Road Train Member

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    day 3 ALMOST down. fueled up in st. louis, MO. 149.5 gallons x 2.49 = $372.25. + $25 living expense. ($-1308.75)

    we're still in the negative folks. but only 290 more miles to delivery. (AND PAYDAY)(or maybe not. LOL).

    1 p.m. smithtown, tennessee. 3 p.m EASTER TIME. sleeper birth. these days the docks aren't working weekends. from what i've gathered. so we're hear for the weekend, getting a fresh 48 hours. 290 miles left, 4 1/2 hour drive. won't make time before closing tonight. or i would be doing some illegal fudging to get the load off and hopefully be ready for next load on monday.

    looked at the loadboard. most loads within 100 miles pick up at 8. NO GOOD, as we'll be unloading what we have. looks like 55 mile deadhead to augusta georgia. picks up at 1 p.m. going to blanchester, OH. 543 miles. load delivers next day so there 2 paydays to start the week off. bad news is that #### truck payment.
     
    Last edited: Aug 28, 2009
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