First year net earnings

[nofear]

I'm hoping to start my expediting career soon, I'm doing some number crunching and I hope my expectations are not too high. I know in trucking ANYTHING can happen to affect a net income. My question, is $50,000 too high of a expectation to net in my first year as a solo straight truck owner operator?

I live in Minnesota, I will be willing to deliver too NYC, Boston, and Canada. Willing to stay out 6 months with 1 month break, and then back out for the remaining 5 months of the year, I'm looking to purchase a $25,000-$30,000 truck with upfront cash, I'm hoping too lease the truck on with Premium Transportation Logistics, and my truck will have a lift gate.

I know no one knows my personal expenses, and this is just too help with my business plan, but is $50,000 net as a solo straight truck driver too high?
Thanks.

 

[Skyline]

Minnesota is not a great area for a solo, in my opinion, but if you are willing to run in the midwest and north east, then you will be fine. I would say that your net would be between fifty and sixty with a paid truck and little experience.

 

[nofear]

Thanks for your answer, Skyline. I understand MN isn't a typically good freight area and I'm willing to be away from home.

 

[fr8hlr521]

We are also from MN and run as a team. Over the past three years we have found that the Rule of Thirds is pretty good for a ballpark estimate. $150K in revenue = 50K in fuel, 50K to the truck, and 50K to your pocket. Even with no truck payment , at your price point you will want to set more aside for maintenance. Also, will not likely be able to run California (not necessarily a bad thing!)

 

[runrunner]

Depends a lot on how many repairs you end up doing,that can eat up a lot of gross! Good Luck!

 

[paullud]

I'm not sure that you would net $50k as a solo in your first year. From what I have seen and heard I would expect more like $35-40k.

 

[Skyline]

There are definitely many factors that can change your bottom line. I have been a solo for 5 years and net well above that amount. Watch your expenses, conserve fuel, hopefully you can do most of your repairs yourself. Ask and research on this forum If you have mechanical or electrical problems. Good luck.