Wanting my own truck???

I came across this site and thought I would ask some of you what you think of my desire to buy my own truck. I am a company driver who drives daycab, pulling doubles out of local coal mines. I am home every night. I have been doing this for almost ten years. Our company has been hiring leasers lately and I am considering buying a used truck and leasing on to my company. It appears that they are making triple the money I am doing the same work. I know the costs are far higher than what I have but I have checked the rates against truck payments, insurance and maintanence costs, and it appears that i can make some decent money. They are paying 80% of the haul pulling their trailers. Was considering a truck with a flat top sleeper that way I can go over the road when times are slow here. Thanks.

 

Well i quess i am asking if It is worth the expense to really be your own boss?

Just wanted to throw some numbers at you guys. I have done some research and this is what I have.

Permits-$675
Insurance-$750 Month based on approx. $9000 year. ( includes cargo, bobtail, liability)
Truck Payment-$750-$1000 month (looking at a 2005 volvo daycab around $800 month)
Medical Insurance-$650 month

Company is looking to pay 80% of linehaul pulling their Trailers. They will maintain trailers.
$2.42 a ton, average load is 43 ton= $104.06 per load- 20%=$83.24 to the truck per load. Load is based on the short run of 1.12 hours ($83.24 x 1.12 = $93.23 per load)
So I average 10 loads a day, but we will base my figures on 9 loads a day. (9 x 1.12 = 10.12 hours) (10.12 X $83.24 = $842.38 Day)

So I figure 5 days a week ($842.38 x 5 = $4211.94)
Month- $16847.77

Fuel would be an average of 100 gal per shift at 2.80 gal = $280 day,$1400 week.
Month-$5600

I would put 10% or .10 mile per week in a reserve account for repairs and maint. ($421.94 week, $1684.77 month) is this to much? only run about 350 -400 miles a day.


$16847.77-gross revenue
$5600 -fuel
$1684 -reserve acct.
$2256.25 -Truck ins, payment, medical, permits
$7307.52 -net

This is just me driving the truck for 12 hours a day one shift. If I add a driver for second shift you double the figures and minus the wages.

$33695.54-gross month
$11200.00-fuel
$3368.00 -reserve
$2256.25 -Truck pay, ect.
$3542.00 -wages (17.50 hr x 10.12 hrs day = 202.4 hrs month)
$13329.29- net per month

I want to start out with 5000 in the bank first along with a months salary before starting out also. right now I average between 160 to 200 dollars a day, about 3500 month working 6 days on 2 off. I just would like to know if my numbers are realistic. I know we can not predict the future and there will be low times. We see about three a year and they last a week to two at a time. The extra money left over after I pay all the bills at the company and home I want to put away for those rainy days.

Just wanted to throw this out to you experienced owner operators to see if this looks like it might work for me? Thanks

 

It is harder on a truck than running longhaul but its all on pavement. The wear and tear comes on the tires and transmission, due to the grade of the road in the mountains and the weight of the load. Double belly dumps with a total weight of 128,000. looking for a truck with a small sleeper to due this in case i have to go long haul during slow periods. I am looking for some of you to comment on my figures, do they look like it could work?