Well still at home. The truck got out of the shop today and the tire pressure equalizer things should be in tomorrow. I need to see the accountant tomorrow but I put most of it together and I am not happy with what I am seeing.
My first load was at the end of July and I had the issue with the fifth wheel so I was down for a little but I have billed a total of $60,909 just for the loads (a little bit more for TONU, detention etc) and have spent $20,192 on fuel for truck and $2,500 for reefer fuel (That actually wasn't so bad). So that means a full 1/3 of my revenue goes to fuel. Is this what is customary? Anyone know what a big company pays as a percentage of their overall revenue for fuel?
You know they say most business aren't profitable until after two years but I think trucking is a little bit different. Of course it does take time to build up a good client base and find a niche but I mean you buy a truck and log on to the load boards and negotiate a good rate.
A lot of my expenses were stuff setting up the truck. $200 for a fridge and the other million things that are needed to get things going. I'm hoping next year is better as I will have a lower insurance rate when I get 2 years on my license. Also no dispatch fee (unless GMAN will take me on
) and I have what I need for the truck. Also I have included things like I would have had anyway. My cell bill (and aircard) is like $250 a month but it was that amount before I started considering it a business expense (family plan with 4 phones)
Also up front you have to pay for licenses and permits so for the rest of the year it should be more profit (hoping no major breakdown). I have no idea whatsoever how people get into this with no money.
The good thing is the freedom the we as O/O have which is invaluable. I can't tell you how many people tell me they want to come with me. Of course it's all attitude and two people could take the same trip and one could bitch the whole way and the next one love it. By that I mean when people ask me how's it going I always have a positive comment (except I say I hate the cold). I was talking with a CPA today and he was telling me that he detests being in an office and would love to go with me on a trip.
Of course he's got the house and the kids and all the other things which won't allow him to get up and quit. The same could be said out here though if you need to take cheap freight to make the truck payment then that's not being free either.
In the end even with fuel the way it is, I think there is money to be made out here. If nothing else I think it is a good stepping stone to move onto something else.
