I have a unique situation and would like to run it by some flatbed brothers.

Discussion in 'Flatbed Trucking Forum' started by Gonehuntin1, Mar 16, 2012.

  1. Gonehuntin1

    Gonehuntin1 Bobtail Member

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    I've been truckin for 15 years, hauled just about everything. I've made a pretty good name for myself with some people in the business and I have been offered kind of a unique opportunity that I'm not sure I know how to approach correctly. I have some business partners that are willing to supply me with truck, flatbed trailer (my choice) and all the bells and whistles needed for the job. They will pay for everything, Fuel, authority to run 11 western which is what I wanted, truck maintenance and breakdowns, everything. No out of pocket expense from me towards the truck. They own the truck and the title will stay in their name. They will make me part owner of the company, company name I choose to put on the door. No lease they own the truck/trailer so no payments on that. Obviously I've never been O/O and my part is I get my own loads, deal with brokers and keep the truck (them) and myself making money. Which to me isn't going to be all that difficult because I already have brokers to run for and loads lined up in the future. I'll have to pay for health insurance for my family but I can't complain with a deal like that. It's kinda like being a company driver but I'll be broker/dispatcher and driver. So my question is how much should I come at them with for expected pay? What should I expect from them as fair compensation and so on? And some advice would be appreciated too.
     
    Last edited: Mar 16, 2012
  2. fireba11

    fireba11 Heavy Load Member

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    sounds to me like you will be a company driver if you have to split the profits up like that.
    you will be doing all the work while they sit back and rake in the money.....Doesn't sound like a good situation to me but.....I would go for a 50/50 profit split and see what they say.
     
  3. 123456

    123456 Road Train Member

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    Is there enough profit to split ?????????
     
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  4. me only

    me only Medium Load Member

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    id run far away from that .dosent sound like you gonna make any money.
     
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  5. SHC

    SHC Spoiled Rotten Brat O/O

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    Sounds like a loosing situation for you. Plus I am very sure they would want to pay you with a 1099, which in this case, would also be illegal.

    I'd pass on the oppertunity.
     
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  6. leftlanetruckin

    leftlanetruckin Road Train Member

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    "Business Partners" and "what should I come at them with for expected pay" is a little bit of a contradiction isn't it?
    Let me make sure I have this straight though, just in case I missed something.
    Some guys/gals want to buy a truck and trailer, get the authority, and all other expenses involved, and have you driving the truck and dispatching yourself?
    Sounds like a really crap company job to me. At least with a company you dont have to find a load after a 13hr work day.
    Sorry bud, money just isn't there for this kind of scam, oops, I meant business arrangement.

    Martin
     
  7. fortycalglock

    fortycalglock Road Train Member

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    Difficult situation. What percentage of ownership are you getting? I'm going to make a wild guess and say you either have poor credit or lack the capital to do this yourself as you'll be doing all the work and they're providing the cash/credit. I would go for a cpm based on industry average, and then 50% of net profit. The reason I say that is it sounds like they can't do it without you and you can't do it without them, so you need each other. If you decide to add another truck in the future, there won't be any changes to the pay structure since the pay for the driver is already defined. If you didn't have freight lined up already, I'd lean more towards the investors side on the net profit split.
     
  8. AZS

    AZS Honk if anything falls off

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    Sounds like they want to use you because you are in fact a good driver. Need more info on exactly what this "part owner of the company" entails though.
     
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  9. Clasix1055

    Clasix1055 Even when I'm wrong I'm right

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    I would say $.40 cpm 100% tarp and dentition pay, plus $200 week administration fees (dispatching and paperwork filings) along with that I would say 25% of net monthly profit, also build in a quartley fuel bonus, what ever CONTRACT you decide on I would suggest you send a copy to OOIDA to have them look it over to protect yourself.

    Now in my opinion this sounds like a horrible idea, if it was me ask these so called investors to loan you the money cost for truck, trailer, permits, fees, authority, maintenanc fund, etc ..... Say a total of $75,000 or whatever your business plan calls for, add a nice ROI for them and pay it back over he course of say 5 years....Good Luck
     
  10. blanco

    blanco Road Train Member

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    They wouldn't be family "members" would they?
     
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