Some numbers for new O/O

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

  1. Gdog66223

    Gdog66223 Road Train Member

    1,557
    1,913
    Dec 30, 2017
    Coal Town
    0
    Are u referring to a team?
     
  2. TallJoe

    TallJoe Road Train Member

    3,281
    4,393
    Apr 12, 2016
    Chicagoland
    0
    For an owner with one truck it could be much better, imo. The condition is that they must be decent and honest, transparent with their rates. If I could find a carrier who would guarantee me Mon-Fr work and 20K a month revenue with no more than 2000 miles a week where they take up to 15% cut then I could give up my authority for that option. Also, it is worth mentioning that own Authority involves a lot of liabilities without anybody's assistance. You have to resolve all the problems yourself. Own authority is good when you plan on expanding into a fleet.
     
    CorsairFanboy, fargonaz and Tug Toy Thank this.
  3. 77fib77

    77fib77 Road Train Member

    3,093
    6,031
    Jul 7, 2010
    North Jersey
    0
    And a free ten gallon hat.
     
    HoneyBadger67 Thanks this.
  4. Tug Toy

    Tug Toy Road Train Member

    3,912
    37,632
    Jul 4, 2015
    Corn field
    0
    Insurance, insurance, insurance!

    You a little light on the truck and GL insurance. I’ve had my CDL since 1991 and a clean record with excellent credit. Least expensive I can find is $18k yr. 3 of the 5 company’s I contacted for quotes just flat out turned me down.

    Next is health insurance...

    Me and my wife are at just over $1400 a month for health insurance.

    So those two things alone are $3k a month before you even turn the key.

    What about a place to park the truck and trailer while at home or a place to work on them? Truck washes at $100 each?

    I’m looking at a shop and parking for my unit right now. Looks like $1750 a month including the $190 insurance and $5200 year property tax but before utilities.

    So now you got $5k a moth before the truck picks up its first load or pays a dime to the driver.

    But I’m sure they got it all figured out and covered in there business plan?

    I mean after all they can just leave there truck parked at the petro and have the TA do all there repairs right? I hear loves dose factoring now too?
     
  5. TallJoe

    TallJoe Road Train Member

    3,281
    4,393
    Apr 12, 2016
    Chicagoland
    0
    I think the insurance has more to do where you are based out of. In may case: Physical Damage, Cargo, General and Auto Liability for over 13000 + financing that's 15K the first year as a new venture in Chicago area (also 15 years of experience with CDL at the time). The current year is almost 5k less. On the other hand, my property taxes are 9K a year. I seriously think of moving up to Wisconsin - Milwaukee area but then is my business related insurance and health insurance going to go higher or not?
     
  6. 86scotty

    86scotty Heavy Load Member

    983
    1,512
    Aug 27, 2017
    Appalachia
    0
    Are you building your own shop/building or something? I've got a pretty safe place for $65/month. I know that's a deal but man, where do you live?
     
  7. TallJoe

    TallJoe Road Train Member

    3,281
    4,393
    Apr 12, 2016
    Chicagoland
    0
    Oh I forgot to say...Parking in Chicago Area $150-250 per month southwest side....250-400 north west side. When guys say you pay under 100 for parking your rig, it sounds so unreal. I do know its true though.
     
    Tug Toy Thanks this.
  8. Tug Toy

    Tug Toy Road Train Member

    3,912
    37,632
    Jul 4, 2015
    Corn field
    0
    It’s an existing place with a shop or two on it. But it’s an example of what it cost to replace what I get as part of my %10 lease on with my current carrier. I meen you want a heated shop big enough for a semi truck and parking? That’s what it’s going to cost ya. Then ya got a fill it with tools.

    I have some other motives to having my own shop as well but if your going to get in this business with any kind of scale it’s something you need to be planing for?

    I’m out in the country in Illinois south of Chicago. Those insurance quotes were with a zip code of Bloomington, Illinois in 2017.
     
    blairandgretchen Thanks this.
  9. adayrider

    adayrider Road Train Member

    1,208
    1,501
    May 7, 2018
    0


    WOW
    I have my own authority and pay less than 6k a year for insurance. Less than 6k a year for health insurance on my wife daughter and myself. I park at home work on it in the driveway but do have a garage that truck won't fit in but keeps tools dry. I spend no where near 2k a month for maintenance. Only wash once every month at best. Spray it off myself for best job cause I lay on ground to wash under it. I do all my own tires, brakes, oil changes, grease.

    I can live off your overhead. Not very comfortably, but I could.
     
  10. Justrucking2

    Justrucking2 Road Train Member

    3,211
    4,202
    Sep 12, 2017
    Plymouth MI
    0
    $5 a day, first night free... ;-)
     
  • Draft saved Draft deleted