You can estimate your cost per mile by dividing your truck’s miles per gallon (MPG) by the current cost per gallon for fuel and then multiplying by the number of miles you plan to drive.Īlthough you may not be able to significantly reduce your fuel expenses, you can shave off a fraction by finding your engine’s “sweet spot.” This is the RPM at which your engine runs most efficiently. Fuel expenses and tollsįuel is another major owner-operator expense, with the average cost between $50,000 and $70,000 each year. In general, you can expect truck maintenance and repair to total approximately 10% of your overall expenses, including $1,000 to $4,000 for tires each year. Instead, budget for these costs so you won’t be caught by surprise. You’re required by law to maintain your truck in safe operating condition, and putting off needed maintenance only ensures a massive repair bill down the line. It may be tempting to skip some maintenance to lower your bills, but this would be a major mistake. Truck maintenance and repair is also a very big expense for many owner-operators. But if you’re making payments, there’s typically very little you can do to lower them. If you own your truck outright, you can ignore this category. Your truck payment may be the largest of your fixed owner-operator monthly expenses. Here, we’ll cover the expenses that are typically the most necessary for running a profitable business. Exactly which ones you have will depend on the specifics of your equipment, the loads you carry, the runs you choose, and even your personal habits. There are many possible expenses that an owner-operator might face. So to maximize your income, you will want to reduce your expenses where possible. The average owner-operator runs a profit margin of approximately 5%, which means that only about $1 of every $20 in gross income actually counts as profit. The importance of reducing owner-operator expensesĪlthough owner-operator trucking company expenses may be an important part of running your business, that doesn’t mean you shouldn’t try to cut them down. Here’s what you need to know to accurately calculate your owner-operator income and expenses.
#TRUCKING OWNER OPERATOR MONTHLY EXPENSES BUDGET DRIVER#
Truck driver expenses fall into several different categories, and managing them is vital to your success. But that’s calculated before the essential owner-operator expenses that are a necessary part of running a successful business. Owner-operators can make good money, averaging more than $221,000 per year.
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