Leasing at Prime

Zero experience and you're gonna lease? Excuse me, team lease?

Do you even have a co-driver? How you gonna split the business? If its just your business, then you are gonna have to pay your co driver. What if you only make enough to pay him and not yourself one week? Or multiple weeks.

Sounds like a good way to ruin a friendship if things go south... Even worse if you rope in somebody you don't even know.

 

I was thinking 3 cents on top of his salary

 

Taxes taxes taxes why! Ha and no dependants even better so IP are you still using 5.6 as the amount that you set aside every week for your quarterly taxes

 

Well since its been stated elsewhere that you can only be held to .15/mile by Prime, that sounds like highway robbery. .18 a mile team driving.

Anyone who takes that is a fool, and you ain't gonna keep then long when they find out how much you are taking advantage of them. What happens when they learn the truth, that they could team with another company guy and make .20, plus fuel bonus plus team bonus plus regular pay raises? Stuff you can offer but can't garauntee?

Say you have a bad week, he gets his .15/mile. How you gonna pay him his extra .03 when you get zip... Or possibly negative, so your in the hole for next week.

how you gonna get this guy to sign on to your truck for .15 plus a gentleman a agreement of an extra .03? You can't TNT for at least 3 months... A year to be a instructor.

.06 above training wages, that's a solid business plan.

 

What do you recommend for starting capital? I'm thinking since the tractor is warranted, 3k to 5k be ok?

 

thnx for the info the cpa we have is good coming from what I see I plan on calling my rep on mon to discuss somethings further im currently in the process of separating business/personal

I agree with what you said in the post above about leasing most definitely want to have money put back before you start

 

listen to IP none of us are trying to tell you not to lease just to wait until ready. In full disclosure I did lease right out of TNT I had business acumen and money to back my business but if you run the numbers that first year I would have been better off company. Now well into second year things are leveling out. In that first year I fell broke ribs and was out for a month, during that time the truck being run by someone broke down was fixed only to need more fixes. All the while the guy running my truck was late 3 times once causing me to eat the freight charges. Then as I was back on the positive side of that cash flow crunch my sister died suddenly meaning the truck sat for a week. Then the truck broke down in bfe Montana in the dead of winter. Then the blizzard hit and was stuck in bfe Maine for 4 days. In all of this yes I made money enough to have a profitable year, and prime worked with me through it all. But still if I would have run company for a year and then leased it would have been better. The real crunch comes when after these "things happen" as they always do freight slows due to normal cycles and your cash flow is further restricted.