Owner Not Operator

We're also talking 1 truck vs 300 or more trucks.

 

Megas mostly hire people without experience, who need somebody to teach them how to drive and pay for the schooling. As soon as people get their 1 or 2 years they go to a better carrier. A lot of Megas are also self insured. Small carriers can't afford to hire a rookie

 

I'm going to go out on a limb and say you've never hired drivers for your trucks before.

 

There isn't many drivers anymore just temporary steering wheel holders.
These megas churn them out like eggs driving the wage down in the long run.

 

Think Walmart vs corner grocery store.

 

Actually I did hire three guys. One owner operator. Good. One experienced driver. Horrible. One rookie. More horrible. None were bad drivers but the latter two couldn't load a car on a truck to save their lives. Didn't work in my business.

 

How much of a loss do you need to show on your taxes? Ought to be easy to lose $80-100k into the venture by year end.

 

Funny but true

 

There are options that can help you start your fleet. However, it would all depend on what your realistic profit goals are. If you are looking to make 10-30k extra a year then you could lease to Landstar, Panther, CDN Logistics, FedEx, or Meadowlark just to name a few. If you want to carry your own authority you could do power only at JB Hunt or Rudolph Freight.
The 1st problem that you are going to run into is finding a driver. Most of those companies I listed have driver requirements of 1-3 year experience and a clean MVR and PSP. And any driver like this has 3 options either work local for 60 or 70k, stay where they got the experience for 55-60k, or become an owner operator for 100-200k. Those option will be way better than running for you @ 0.40 cpm with no benefits. Unless you plan to offer benefits and pay like 0.45 -0.50 cpm. If you do that then those slim margins start to get even slimmer.
With that being said, I still haven't even scratched the surface. We haven't looked at Tags, Inspections, IFTA, IRP, Fuel Cards, Insurance, Tolls, Maintenance, Drug Testing, or Employee related Taxes.
So, while the advice to sell the truck may sound harsh, is it some sound advice if you are looking to make six figures off this one truck. I hope this helps more than those one liner answers.

 

^^^^ *might* make $10,000-$30,000 with any of those companies. That's a big *MIGHT*. Most of those companies aren't worth a crap and their pay reflects it. Actually it reflects the commoditized nature of trucks and trucking. Low pay for unskilled ordinary work. The only work that pays in this business is special work and it takes a little more to go out there and find that work than most strangers to the industry with a free truck and a little money to burn have. OP will figure it out the hard way if not listening to sound advice to get rid of that money pit. How many people know better than guys out here doing it who've seen it 10,000 times but they think they're going to do it. Have fun with the the tax write offs.