Rates on Loadboards

The best way to go and you'll see all over the place is getting direct contracts, and it can be a daunting task but you can be profitable working load boards. It's their profit margin or yours....bad part... drivers will sell themselves short and that's where the market gets screwed.

 

My overhead is through the roof! But my main priority above all is taking care of my drivers. I've never driven a truck and I have no idea what it is they go through so before I make any decisions i consult them even though they are my employees. They know better. I'm a student and esentially I'm in their world.

 

The thing is I'm new tone this industry, and I'm coming in as someone that wants to start a small fleet, so I've been doing my research. And so far the best way to do this in my opinion would be to lease my equipment onto a company, hire a driver, this way the carrier I'm leased onto, could take off some slack of me having to handle the back office stuff.

 

I'm in the same situation as you except, my driving experience is from Fed Ex for the past 17 years, but not a semi, just a step van, and not OTR, but I'm familiar with Dot, because of the job requirements, I'm dot certified,. The only difference is learning the freight Lanes of course It's a larger vehicle but for the most part if you understand how the business works it's not as complicated as at as a sound at least from my perspective in my understanding and for what I've been learning and researching

 

What's the secret in finding good drivers and keeping them

 

Back office stuff is the most important I believe. Data reaserch, its the strongest weapon you can have. Study lanes, trends, movement of freight. I take notes and record every move we make. Fuel, weight and how it affects my truck, weather....I'm like a mad man when it comes to data my friend.

 

Finding good drivers is like sifting for gold. Good driver's are NOT STUPID! And know they're weight. I conform to their needs within a reasonable agreement.

 

Do you feel it's possible for me to still profit some, if I start with 1 truck , dispatching my driver, but considering their needs, I plan on financing the truck.

 

It dpends on your cost of living. I look for balance. If I want to run this company to the ground I can. I can get greedy at any given moment and expect more in my profit margin because I decided to get hefty with my house, car, clothes or what ever it may be. You can make a living and have a little extra...but that extra can be deceiving. Work within your means. I work for myself now and the only person that can screw it all up is ME not a person that considers me a number. Short answer is yes my friend. But use it your profit wisely.

 

No, once your truck goes down for a repair and it takes a month to fix it, your driver will leave you. But if you pay him just to sit and wait, then you won't turn any profit