Picking my own freight baby! My journey to & of being on Schneider choice, the Adventure & Numbers!

Ok, I am in my 10 month all good so far. Wasn't a company man before so I had a little learning curve as to where Schneiders core customers were located where the mega dead zones are etc. I spent first 3 months running each region. I have made a profit every month and last week put my name on a new Volvo 780. I will have it paid off in 3 years.

When I look at your spread sheet I have a few questions are you going to become an LLC and pay yourself "per mile?" If not I am betting that 125 a week in child support will double or triple. I also couldn't see what you had for payment and reserves. I also don't see any money's for professional services lawyer accounts. I see no money for health insurance. I see no money for 401k. I see no funds for a Viper (car of choice for the IC). I would not do it for a thousand in profit risk vs. reward isn't there.

I would strongly suggest you read this entire thread.

Be Safe Out There


Captain Dave

 

Professional services are included in the red lines along with truck payment as fixed expenses, the pic below is easier to read and for the same company, their insurance will run 330 a week for me bc they don't have an employee plus child, but I know I can shop elsewhere and get that for alot cheaper, child support I'm already paring maximum amount for 1 child in TN, car is covered in the 1250 misc n food budget, 401k is not shown as that is personal through etrade already put into it what I want and can make withdrawals without tax penalties from cash coming out before taxes, as for the LLC it's a smart thing to do tax wise for any and every owner op to help avoid some of the taxes

 

Here's how to do it. Throw the spread sheet in the trash. Find freight and the cheapest possible truck. This is risky. Remember overhead. This is where your personal expenses come into play. See the forest for the trees and don't sweat the small things. Did I mention this is risky ? Above all have a good understanding of the industry. if you don't understand the industry and can't stomach risk there is always good money to be made as a company driver.

 

Yes but 0.36 a mile sucks lol, I know I can do the owner op thing and be successful, I'm just trying to figure out where I can get the truck I want and make the most I possibly can

 

I just think he should use some of the examples shared here and then take a look and if he likes what he sees in the best case and worst case scenarios, then hey go for it. You are right it's about risk, you guys have helped me decide to monitor the program and wait a bit and put more money aside because even living in the Midwest, given the competition I don't have the funds saved to buffer me as I learn the program and come up to speed.

@TANKn8er may be different and may have the flexibility to take in the risk, although I would recommend he sit with a knowledgeable tax expert and go over the business plan before jumping in (or join OOIDA and use there services) to help him understand his real earnings.

So many people tell prospective leasee's that they need to do their homework, at lease he's mostly trying

 

Well, given the latest changes at Schneider, I think they have taken themselves out of the running for new owner operators that are looking to get into this with low overhead. They are going to require a 2010 or newer truck. Opinions very, but that means the best option if you are going to do this with Schneider is to pursue a Glider, and forget about California.

If you want to go into this with an older truck, which is actually a good idea, then you need to look at other places to lease on with, or pursue your own authority.

 

You back to work yet ya slacker?

 

Nobody that I can think of and not anywhere close to that a fuel surcharge was that high if you'll be over four bucks a gallon LOL