Starting a small fleet

I definitely see your point thats why I was thinking if I only make 35k off each truck low end that is still 70k a year, and yes I know the upkeep of these trucks are expensive. I have put about 3k on top of the 20k I paid for them to just do so called minor things buying parts and paying my friend, I got these trucks in the condition now that I would feel safe driving them and be happy, I am also learning though as well. I learned a lot of stuff mechanically, I would love to drive myself first which I can if I get my own authority and pay the crazy insurance but I am still pretty new at this and think putting my trucks under another s authority I will learn faster without all the risk of being a complete OO. I know stuff happens on the road and again I will have it fixed asap and know I need to keep my drivers happy as they are the asset that makes all this work specially if they are running hard so I have no problem paying them out of pocket if they need to stay at a hotel or for layovers, I was already thinking like $150-175 a day if that happens plus hotel fares. I do have some capital saved and about 300k in credit lines so Im prepared to do what I have to do to keep my drivers happy and to get this show on the road, my goal is to keep growing to 5 trucks with 5 good drivers, I also have other revenues of income owning an atm machine route, stocks, and I still work myself for Swift at the moment, and possibly after another 1yr when I have 2yrs I might buy another truck and drive myself, Just want to get the trucks I own right now on the road making money and I don't like sitting around, I am determined, any venture or job I go into I am always looking at the business end. I don't want to be 80yrs old which a guy at my Roehl orientation was having to drive a truck. Also my mechanic/best friend will do some stuff basically for free so if there is an issue with the trucks I can bring them back to where I am at and have him work on them for a fraction of what a shop is gonna charge at 90-120 dollars an hr labor rate.

 

Again sorry I just signed up for this forum yesterday and you have given lots of good advice, driver wise, I meet these drivers that are working for big companies like the Swifts/Us Xpress/Marten....etc and they have 10yrs of experience and are only making 800-900 a week, if I can pay them 1500plus a week I think they would be happy, and again I will make sure the trucks are always taken care of, I have to find drivers and have them do a Rafa app to make sure they are good for their insurance then my application. I am looking though what is the best way to set this driver up cpm percentage? I want to do 1099 as I am not a huge company, I just do not no what the best option is. I want the drivers to be happy but I also need to be profitable to keep my company a float.

 

I was thinking about setting them up as 1099 contractors, I know that is a big grey area, my friend owns yellow cab in the area where I am at and he had everyone set up as 1099 since 1995 when he bought yellow cab, and 1 girl went to get Unemployment back in 2016 and they audited him and fined him 60k and gave him a list of about 30 reasons why his workers weren't truly IC's saying they didn't pay for the cab, did not paint the cab, were told when they had to work, told a given price to charge....etc I talked to a lawyer an accountant as I owned a taxi business as well and they told me its a grey area where as long as you have so many reasons why they are a IC to combat the reasons they aren't you have a case then. So I was looking at just setting up drivers as an 1099, but again I have not spent the money talking to lawyers and the legality of it just yet, was just trying to get other people's opinions first on the best way to set everything up driver wise and how to pay them, and real numbers before I start paying a lawyer $$$ just for their time, I calculated my own numbers off what I have learned and talking to other owner ops and RAFA and was looking at giving the driver %27 which I think they should make 1500 plus but as a 1099. Also yes I know I won't make 1k every week, thats why Rafa even said anywhere from 35-50k, lots and lots of variables to consider I was just looking at the low end. Thank you

 

Wow thanks jerk, I am not pretending to be anything or screw with anyone's life, thats why I posted to get more info from people doing the same as I would like to do, and yes I will talk to a cpa and lawyer just wanted to get some input from others first that own a small fleet and have drivers, I want everything to be set up completely legal, just wanted some advice before I am spending hrly rates with a lawyer an accountant. thanks

 

sorry I did not know jerk was vulgar language, I am only looking for advice on running my own trucks, I got it, lots of people say to sell them, and maybe that is my best option, I was just looking at if I do get them running otr what's my best option and how to set up drivers, I am open to all advice but don't tell me I am screwing with other people's lives, I have not done anything yet to screw peoples lives and thats why I came to this forum to learn not to be bashed, yes I can pay for lawyers and a cpa but I wanted to hear real life experiences of others on how their experiences were, and I am not putting any drivers in my trucks till I know everything I can and have them set up to their advantage. Truly I appreciate everyone's voice but I came here to learn on how to start a small fleet and talk to people that have or are doing it thanks anyways.