Trucking with business partners

I’d say that the driver pay needs to be come out of the revenue just as if you hired a driver.

 

You all just jumped into it without first agreeing how to split the money?

 

You'd be better off flipping burgers at McDonald's than splitting the revunue of one truck 3 ways... This has the 3 Stooges written all over it

 

I'll just go out on a limb and say there probably isn't a contract then. One day there'll be one guy with a truck and two that are burned. Adding a 3rd person does add a twist to this common situation though.

 

All 3 of you on the title?

I say pay yourself about 80 cpm to drive, then after all other expenses are paid and you’ve put money into a maintenance fund just split the rest three ways. That way at least you’ll have money to live on when you’re trying to split zero three ways.

 

Oh boy.

If you want to remain friends and on speaking terms , y’all need to dissolve this partnership right now .

I promise you , it will cause problems with your relationship and friendship.

If there is money on the line , then arrange it as a loan with paperwork , And no partners .

I promise you, this will end badly

 

wow
Yeah
There isn’t going to be any revenue anyway after the driver gets paid , and repairs and maintenance . And insurance .


Is this truck going to be leased on with some company that provided insurance and dispatch ?

who’s name is on the title ?
Who’s name is on the LLC ?

 

One truck only supports one wage. After the driver and all the bills are paid the other 2 guys are splitting a Happy Meal.

 

Who's idea was this originally ??

 

Incorporate it as a business with three stock holders, distribute the profits through dividends and pay you as the driver a prevailing wage.