Keep separate account for truck

Start a separate account for the truck. Think of the truck as a separate person. The truck gets 16 cents per mile for every hub mile traveled. The only reason money can come out of that account is for truck expenses, such as truck service and repairs. When you get $20,000 in that account, don’t yield to the temptation to rob that account for personal use. One must think of that money as belonging to the truck. An in-frame will use most if not all of that.  Then you won’t be like the average OO and only be in business three years. There are a lot of “was an OO” out there, and they didn’t have a separate account for the truck, that’s why they “were” an OO, and now are company drivers again.

Steve Heglmeier | Fleet management | Heglmeier Transportation Services LLC

The Business Manual for Owner-Operators
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