Is it worth it?

Discussion in 'Ask An Owner Operator' started by TrustyDustyIndustries, Mar 28, 2022.

  1. TrustyDustyIndustries

    TrustyDustyIndustries Bobtail Member

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    I've been in the industry for just over 10 years. I did dry van the first few months. Moved onto flatbed for 9 years. Been doing bulk pneumatics for the past year. I'm currently home every day and off weekends as a company driver making in the high 90s, low 100s. Great driving record. Im thinking about branching out and becoming my own authority hauling flatbed in the upcoming years. Is it worth it. Factoring in truck and trailer payments, health insurance, truck insurance, fuel, repairs...is there much room for profit? I assume my insurance will be high as I have preexisting conditions that require expensive medications, although it seems like I may be able to deduct the cost of my health insurance through my taxes at the end of the year if I can make the company enough profit. Seeing about the brokerage fees and such, it seems like the overhead could be as much as 20-25k a month. And brokerage fees could run upwards of 65k a year. Is it realistic to expect to improve on my current salary by going it on my own?
     
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  3. bad-luck

    bad-luck Road Train Member

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    With the cost of used equipment, current fuel prices that should answer your question for you. And it ounds like you are doing ok where you are.
     
  4. Kairen0001

    Kairen0001 Light Load Member

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    Rates went down
    Nobody wants to pay, it’s crazy. They offer $1k for 700-800 mi!
    I wonder who drives for those rates???
    So looks like you good now
     
    Bean Jr. Thanks this.
  5. Jed2009

    Jed2009 Light Load Member

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    Wowzer, if you’re making ~95k and home every day that’s tough to beat. Unless you absolutely hate your employer/working for someone else I would imagine staying put would be the best option, in this F’d up environment we’re experiencing.

    With the amount you make, you could save tens of thousands a year right now (I imagine?) and in 2-3 years when everything is cheap again you could get started with little or no debt.

    Where are you getting 65k from as brokerage fees? That seems astronomical. In my experience using brokerage quick pay services are anywhere from 1-3%. So if you gross 300k that’s 3-9k a year.
     
  6. TrustyDustyIndustries

    TrustyDustyIndustries Bobtail Member

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    Mar 28, 2022
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    I was seeing 15 to 20% for broker fees everywhere I looked
     
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  7. Rideandrepair

    Rideandrepair Road Train Member

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    Good money, home every night. You have a good deal going. The best part is, when you’re home, you’re done. I’m sure you know how some Trucking jobs never seem to end. That’s the problem with doing it on your Own. I would never discourage anyone. Sure you could do it, maybe even make a bit more money. But the time and aggravation involved will be much more, than you have invested now. I suggest if you’re happy with your current Job, keep learning, and keep it as Plan B. Might have to go Independent some day to avoid a pay cut, should things change.
     
  8. Rideandrepair

    Rideandrepair Road Train Member

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    No telling. Some claim 15%. Truth is they take as much as the Market allows on any given day, on any Load. Might be 50%. The famous saying is “ That’s all I got in it” meaning they’re making little or nothing. More like they’re at their minimum of 15-20% profit, if not more.
     
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  9. boneebone

    boneebone Road Train Member

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    If you asked that question before Covid started when equipment prices, diesel prices and rates were reasonable, I would’ve said yes.

    At this present time with the current situation, I would not recommend it.
     
  10. God prefers Diesels

    God prefers Diesels Road Train Member

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    Are you sure you're not talking about dispatch service?

    Brokers are free, unless you use quick pay, but you find and book your own loads.

    Dispatchers do that for you, but you pay 10-15% usually.
     
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