Fleet Owner/Driver question

[DooWop]

Need some info as I am considering driving for a fleet owner. The question has to do with net income. I will try to be as brief as possible.

As a solo driver for an o/o my best estimate of AVERAGE revenue to the truck would be about 80K per year.

If the owner offers 20%, him paying tolls, fuel, and all truck related expenses (you just a driver) this would come out to 16K per year.

Being paid on a 1099 at the end of the year you would have to pay double SS and also federal state local and medicare taxes. Factoring in the per diem for lets say 250 days from home, would leave you in the neighborhood,after taxes, of about 13k per year. This is very close to hamburger flipping wages. Am I wrong? Are my figures wrong? Is it worth driving for an o/o?

Regards

DooWop

 

[terryandrene]

DW:

As a driver for an owner who pays fuel, tolls, truck expenses, I would expect to receive the typical 40% of the revenue to the truck, less the fuel surcharge. 20% benefits the owner only.

 

[RichM]

That is poor percentage for you to net after expenses. There are 2 common methods that owners seem to pay their drivers. One is a 60/40 split with you paying for the fuel and tolls.
The other is the owner pays for all expenses and you receive 40%. Based on your projectd 80K gross that would be a net to you of 32K. The problem with the 40% and the owner paying for fuelhe might object ( and rightfully so) for long personal deadhead trips by you. If you were buying the fuel it would be a different story.

 

[davekc]

The only time I have ever seen anything like 20 percent is if it is paid to each driver on a team truck. That is 40 percent to the drivers total and the owner paying fuel and receiving surcharge and the remaining balance.
20 percent to a single driver would be a waste of time as you just figured out.




Davekc
owner
21 years
PantherII
EO moderator