This is a post i made a while ago, and recently received a request to re-post it, so here goes:
In figuring your earnings, you might want to figure on 10,000 loaded miles per month for a team. Calculating 25% deadhead, that has you driving 12,500 miles per month. If you say that you will gross (pay to the truck) an average of $1 / mile, YOU will actually be making $4,500 - $6,000. Your biggest expense will be the fuel. If the truck gets 8 - 10 miles to the gallon, you can plan to spend about $2343.75 / month on fuel (12500 miles divided by 8 mpg times $1.50 per gallon). Now you're down to netting $3656.25 / month, and that's if you're getting 60%. Divided by the 12500 miles you'll be driving to get that amount, you will be earning $0.2925 / mile, with NO benefits, and lots of other expenses -- motels when you get claustrophobic in the sleeper; meals on the road; health insurance; social security payments; computers; calculators; ComData service charges; the list goes on and on. Driving for an owner is a good way to "test the water," but not a real money making proposition. Even driving for yourself, (and you SHOULD do a Cost Per Mile worksheet for yourself) a basic figure for Cost Per Mile is $.50 / mile that it costs to run your truck, so you're still only making about $.50 / mile -- again, with NO benefits. Anyone getting into this business to make their fortune is going to be sadly disappointed -- you can make a living, but you aren't going to get rich!
Hope this helps you -- and doesn't depress you too much! LOL
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Godspeed to all of you out there on the highways and byways!
In figuring your earnings, you might want to figure on 10,000 loaded miles per month for a team. Calculating 25% deadhead, that has you driving 12,500 miles per month. If you say that you will gross (pay to the truck) an average of $1 / mile, YOU will actually be making $4,500 - $6,000. Your biggest expense will be the fuel. If the truck gets 8 - 10 miles to the gallon, you can plan to spend about $2343.75 / month on fuel (12500 miles divided by 8 mpg times $1.50 per gallon). Now you're down to netting $3656.25 / month, and that's if you're getting 60%. Divided by the 12500 miles you'll be driving to get that amount, you will be earning $0.2925 / mile, with NO benefits, and lots of other expenses -- motels when you get claustrophobic in the sleeper; meals on the road; health insurance; social security payments; computers; calculators; ComData service charges; the list goes on and on. Driving for an owner is a good way to "test the water," but not a real money making proposition. Even driving for yourself, (and you SHOULD do a Cost Per Mile worksheet for yourself) a basic figure for Cost Per Mile is $.50 / mile that it costs to run your truck, so you're still only making about $.50 / mile -- again, with NO benefits. Anyone getting into this business to make their fortune is going to be sadly disappointed -- you can make a living, but you aren't going to get rich!
Hope this helps you -- and doesn't depress you too much! LOL
*********
Godspeed to all of you out there on the highways and byways!