Some numbers for new O/O

Discussion in 'Ask An Owner Operator' started by DUNE-T, Aug 23, 2018.

  1. Arctic_fox

    Arctic_fox Heavy Load Member

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    Sep 16, 2016
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    So as a new O/O and now that i got my first check under me i figure i will post some numbers from my first month includeing the truck purchase here for any new O/O to give you some food for thought.

    Keep in mind I went into this with what i thought was a HUGE oh #### fund and it was STILL only just enough money to make my first month. Numbers are rounded up for ease of reading.

    Expenses:
    Truck down payment $16,000
    Trailer lease $4200
    First truck and trailer payment $3000
    Tows $2000
    Wetkit $6000
    Batterys and battery box rebuild $1200
    Removing roof ferring $600
    fixing window switch $250
    APU repairs $2200
    Fuel $5500
    Incorperation fees: $1500 (includes laywer to insure everything was legal)
    taxes and licenseing $3200
    Davie4 tool to read and clear idiot lights $1400
    Tools $1000
    Required equipment (triangles, fuses, oil, 5th wheel grease, ect) $200
    ELD $1200 (device+plus tablet+subscription+data plan)
    Drive cam $400
    CB radio $250
    Inverter replacment $1100
    Steer tires $1700
    Drive tire $390
    Man door for trailer: $1400
    Tarp bows: $250
    NoX sensors $350 due to warranty
    5th wheel rebuild $850
    replacment hoses and body work due to failed 5th wheel $1200
    Weight guages so i dont end up illegal $1700
    new mattress $600
    hydraulic fluid for wet kit $900
    Prepaid legal fees $350
    Accounting software and hardware (laptop quickbooks scanner) $800
    Misc other items like brooms and storage boxes $150

    Total $61,840

    Profits:

    Pay: $2250
    Sold roof ferring: $600

    Total: $2850

    Thats right i made all of $2800 to offset almost $62,000 in startup costs. Granted a huge part of that was my down payments and due to the 3 to 4 week delay on getting my first paycheck, and is further compunded by my going into specialized work where i NEED certain equipment. But for those of you thinking $30K is enough i want you to reconsider that stance VERY hard. Trucks break, equipment fails, bad luck happens.

    Being an O/O aint easy and even going into this prepared for the worst i still got bent over in my first month.
     
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  3. drivinhome

    drivinhome Light Load Member

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    Sep 16, 2009
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    wow. I don’t even know how to respond to that. $2,850 revenue and $5,500 in fuel. You may want to look into some aerodynamics.
     
    Jarhed1964 Thanks this.
  4. Arctic_fox

    Arctic_fox Heavy Load Member

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    Keep in mind that is over 4 weeks of working and includes almost 1700 deadhead miles the week before i actully started working getting my truck and trailer from half way across the country from each other as well as the initial 300 gallons just to fill the bloody tanks up as they had literally less then 10 gallons in them when i bought it so there is 1k right there. Then ive done about 9ish k miles this month while actully working or around 550-600 miles a day not counting the 4 days of downtime getting stuff fixed and the 200 odd miles deadheading to do that. i would need to go through quickbooks to check exact milage though.

    Besides thats actully pretty good for end dump work. Most rigs i know of that do this fall in the 3-5 range while mines running around 6.5-7 average total. First check was so low due to only haveing 2 short deliverys on the settlement and having to pay my initial insurance and tag costs from it anyway. Next one should be a lot better now that im past the 4 week delay and i will start actully getting decent money.
     
  5. drivinhome

    drivinhome Light Load Member

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    Sep 16, 2009
    Southeastern Mass
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    Good deal. Hopefully you are good to go now. Time to pay those bills.
     
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  6. Arctic_fox

    Arctic_fox Heavy Load Member

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    Hay as long as i can avoid my 5th wheel literally falling off the truck again ill be good i think. Next check SHOULD be about 4k after fuel.
     
  7. dancecanyon

    dancecanyon Light Load Member

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    decided to start own thread....still had to write something here....
     
    Last edited: Apr 11, 2021
    Jarhed1964 and Coffey Thank this.
  8. roundhouse

    roundhouse Road Train Member

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    That’s what I with I had done when the engine blew in my second truck.

    i had a turbo disintegrate and then oil from the turbo line fed the engine into a runaway.
    WheeeeeeeeeEEEEEEE ——- boom .
    Split two pistons in half , bent two rods , broke the crankshaft.

    I got my engine replaced In Five weeks which I guess was actually pretty fast, but the lost revenue was a killer.

    truck was paid for , I financed the first truck , actually. Did a lease purchase with a honest company who had plenty of freight and didn’t pay a percentage, they paid a combo of daily, mileage and stops, with a fuel surcharge if the fuel went up, and detention pay after three hours.


    This was in the late 90s I was earning $1000 a month pre tax at my job, and made $5500 profit the first month driving the cabover international 9670.
    Wrecked the cabover with ONE payment left, but I had saved enough earning $5000 a month but still used to living on $800 a month to easily put $8k cash with the insurance payment for the wrecked one to pay cash for another used truck. Which is the one that had the engine runaway. But I should have just found another good used truck and been back in business in a Couple of days.
     
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  9. roundhouse

    roundhouse Road Train Member

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    Because there’s not enough profit to make up for the risk.

    The best passive income verses risk, is real estate . Either a house or joining in a syndicated apartment complex purchase, where 10 or 12 or 15 people all put in $30-75k each for the down payment.
    And take shares of the profit equal to their percent of down payment.
     
  10. rodknocker

    rodknocker Road Train Member

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    Southeast
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    I bought a couple trucks in the late 90's. Was an owner op for 10 years. It was good to me. That was then. I was looking to do it again when I retire but the truck I want is $200,000 so it's just a dream. I wouldn't go back into the buisness without a 389 pete or kw. Keeping in mind it's not for the money, it's just get paid to travel to certain areas when I want to go and trucking is in my blood
     
  11. roundhouse

    roundhouse Road Train Member

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    Yep

    You could actually make decent money in the late 80s thru the late 90s

    in 95 I was grossing $1.25 a mile.
    Fuel was around a Buck a gallon , insurance wasn’t outrageous, a pretty nice used truck as long as it wasn’t a 389 Pete or W900, was about $15k

    you could literally borrow or pay $15k cash for a truck , lease on to some place that had freight and all O/Os , no company drivers to compete with, and clear $1200-1600- 1800 a week after all expenses easily.
     
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