Some numbers for new O/O

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

  1. Dadetrucking305

    Dadetrucking305 Light Load Member

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    I made $110k a year just running hotshot in Texas.General freight non oilfield.How is it that this equation only makes 120k?
     
  2. Eamac2004

    Eamac2004 Light Load Member

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    Because most new o/os dont know how to change a tire. Parts are cheap. Its simple, dont buy a truck if you dont know how to use a wrench.
     
  3. Fabulous Maximus

    Fabulous Maximus Light Load Member

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    Can’t you reduce much of the wash/maintenance/storage costs? At least for the first year or two, I understand wanting to invest in commercial property to have your own shop once you have 3+ trucks, but that isn’t really necessary starting out.
    Edit: because I’m a noob to the multi quote system, haha.
    So, 265K+ a year in expenses? This can’t be right.... why is driver pay even included in ‘expenses’? I would personally take around 25% of net income per month to put in my personal account and live as spartan as possible (meaning, I would hope to barely even touch that. 75% goes into business account; Granted, I am single with no kids and I plan to remain that way for a long time.
     
    dwells40 Thanks this.
  4. DUNE-T

    DUNE-T Road Train Member

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    Detroit, MI
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    Whatever fits your needs. A family of four in the Midwest can spend a $100k per year in living expenses. A single guy can spend only $25k and invest the rest in the business.
    Driver pay is included in the expenses, because it's a business. You gotta calculate your expenses "pretending" that you have an employee
     
    KB3MMX, Bean Jr., dwells40 and 3 others Thank this.
  5. Fabulous Maximus

    Fabulous Maximus Light Load Member

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    Thanks for the quick reply, i can see where the family would be a killer in this situation. I’m just happy I’m a loner and don’t have to deal with this problem.
     
    dwells40 Thanks this.
  6. JBLogistics

    JBLogistics Bobtail Member

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    Jul 2, 2019
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    Was that GROSS?
     
    KB3MMX Thanks this.
  7. 77fib77

    77fib77 Road Train Member

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    North Jersey
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    Well having a 4k truck payment plus a trailer payment and insurance payment would be hard right now. 6500 before turning the key, yikes.
     
    Bean Jr. Thanks this.
  8. Trucker186

    Trucker186 Medium Load Member

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    That's why you buy a used truck in good shape like a old tmc truck and same for trailer then you have a small or no payment.
     
  9. KB3MMX

    KB3MMX Road Train Member

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    Orrstown, PA
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    Isn't repeatable for a business model, more of a play on luck.
    When you get that 15k repair bill and then another big one a month or two..or six later on that cheap truck.. it isn't profitable or reliable. Just another failed carrier.
     
  10. Trucker186

    Trucker186 Medium Load Member

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    Who on earth gets a 15k repair bill sounds like a failed driver unless you don't take care of the equipment and make sure it's ready before you leave meaning have a good mechanic go over it and you'll have a good truck. Everybody who has had good success I've talked to started used heck one guy started with used and created a 300 + truck company and is a multime millionaire and never finished high school. Parts are cheap compared to labor that's why I advocate learning how to repair your own equipment. My grandfather's truck (he's a non o/o) sat at KW for a week and they didn't even touch it. They had brand new trucks and they have been in the shopen way more than the 2002 Cat that truck all the ever did was normal maintenance and it just kept running and it's the spare truck now. He went for his personal best time out of shop 2 weeks without a issue. There's nothing they can find on the truck to fix it.
     
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