Canadian good and bad trucking companies

Where else can you take a 250k investment and net 120k annual and after 4 years sell that asset/truck and have made 480k plus sale of truck proceeds.

 

Where the #### are you gonna NET $120K per year?

Doing what for who?

Just wanna know if you thought this trough Fully?


Pete

 

I paid off a new truck doing CAN/US LTL and Reefer and then dedicated LCV. I worked on my own stuff and used one shop I've known for 20+ years. I had 1 major breakdown which cost me 5K USD total (including hotels). I paid myself 80K a year, and never went into debt. When it was all said and done, and I sold the truck. I had 60K in the company account once everything was paid and settled. That was also during the prime time freight years of 2018-2022, got out just as it began the crash out.

So yea, I had an 80K job for 4 years, and had a 60K lump sum when I cashed out. I got VERY lucky, an accident or a couple big road calls, would have been a different story. I also took all the risk, which was stressful. I had to work way more than I wanted to, which was stressful. I had to work on the truck, on all my days off and resets, which was tiring. Most of the guys who went O/O when I did, are 60-100K in the hole and can't sell their trucks now.

I personally think the time to own trucks has passed, and its not coming back.

Just my 0.05c

 

Youre telling me O/O running full hours with no truck or trailer payments are not netting minimum 120k...? I know company drivers making 90k LTL.

 

Show me your math.



Pete

 

That's a joke, right?

 

He’s not wrong. My last year with Xpo, I grossed 138 k doing Linehaul to the states. Granted that’s 70 hours in 5 days, so basically a full and part time job in 5 days.

 

I don't doubt that, but I 'd still like to see the OP's numbers on how HE thinks HE is gonna NET 120K running his own truck?


Pete

 

This is what I mean. Anything can be typed online, however their never a receipts of the gross to net when stated. Yes, possibly could of happened but in this market talk is extremely cheap. 99.9% of those who say, 'I'm up from the trucking business, never had any real loses, made almost $500k' so on and so on. Never show the real books. Its like going online knowing that your an average Joe but state you're net worth is $4.6 million and have a cash flow in your account of $1.2 million. Yes, possibly but who is going to real know besides those on a forum? I am not one to be pretentious.

 

I'd remove J&R Hall from that list if you're looking for city P&D work.

January 2025 they started to (intentionally?) misclassify city drivers as highway drivers to avoid paying overtime. Federally regulated highway drivers get overtime for all hours worked in excess of 60 hours in a week. City drivers are supposed to get overtime after 9 hours in a day, and/or 45 hours in a week. As a city driver, you're never going to hit 60 hours in a week, therefore essentially removing any overtime you would normally have received.

Playing with definitions from the federal government. City drivers are drivers that stay exclusively within 16 km of the home terminal. If you leave the 16 km, you're a highway driver. If you do both, you should be held to the mixed employment standard and be paid overtime depending on if you're inside or outside of the 16 km radius for the majority of the time. I guess they decided it was easier to just classify everyone as highway to save a buttload on overtime wages instead. No raises in a long time, for me going on 3 years.

Nice equipment, great people at my home terminal, but the nickle and diming from head office has gotten pretty bad.

My hourly wage is in the mid to high $20s. Highway drivers are paid at $.53 cpm to start, LCV is a $.20 cpm bonus to the base rate. The mileage rates include an $.08 cpm road expense. It's basically the meals and stuff you normally claim end of tax year, but it's included in the mileage rate already, so you can't really claim it end of tax year anymore as it was already paid out.