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Done for you in 10 minutes.
Evaluate the financial viability of buying your own rig or launching an independent hauling business.
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Transitioning from a company driver to an owner-operator is the ultimate American road trip toward independence, but it is also a massive financial leap. This feasibility study is your essential roadmap to determine if buying or leasing your own rig will actually put more money in your pocket or just leave you with crushing debt. You need this rigorous evaluation before you sign a lease-purchase agreement, visit a used truck dealership, or apply for your own authority. A highly effective feasibility study goes far beyond guessing your average per-mile rate; it meticulously calculates your true cost per mile, maps out your target freight lanes, and projects your financial survival runway during inevitable freight market downturns. By looking honestly at both fixed and variable expenses—including diesel, commercial liability insurance, and a realistic maintenance escrow—this study transforms a high-risk career gamble into a structured, highly profitable business launch.
You should have a minimum of $10,000 to $15,000 in cash reserves specifically set aside for maintenance and fuel before buying your truck. This buffer ensures you can survive the first 90 days of slow-paying broker invoices and unexpected mechanical issues without shutting down. Relying solely on credit cards to fund initial operations frequently leads to early business failure.
Leasing onto an existing carrier is faster and cheaper because they handle the operating authority, dispatch, and primary insurance, though they take a percentage of your revenue. Getting your own authority gives you 100% of the load payout and complete freedom, but requires you to manage your own compliance, secure expensive commercial insurance, and find your own customers.
Currently, a realistic cost per mile ranges between $1.80 and $2.20, depending heavily on fuel prices, truck payment size, and insurance rates. This means any load paying below this range will result in a net loss for your business. Accurate CPM calculation must include your own salary as a fixed cost rather than treating leftover profit as your only pay.
To find your break-even point, add your weekly fixed costs like truck payments and insurance to your estimated weekly variable costs like fuel and toll fees. Divide this total dollar amount by the number of active, billable miles you realistically expect to drive each week. The resulting number is the absolute minimum rate-per-mile you must accept from brokers just to cover your basic operational costs.
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