Let me start off with some history about myself, I've been driving about 6 years, with a mix of van, flatbed, and heavy steel experience. I've somewhat forayed into ownership before, pulling RVs out of Indiana. I have a decent amount of business sense and know how to look at and figure my books.
I have enough cash to pay for a good used truck outright (around $60k), with a maintenance reserve, and to float the family for 2-3 months. As far as the truck, I'm thinking a 379 with a 6NZ (hopefully with a recent overhaul). Based on my research, I feel this is the best option to limit downtime.
I'm looking at Forward Air's LTL division. For those of you that aren't familiar with it, it's light loads (usually less than 20k), all drop and hook between their terminals. Yes, the rates are far from the best. $1.09 loaded and $0.98 empty, plus $0.02 if you have Hazmat. I feel that these rates are justified because of what this arrangement offers: No dealing with outside customers/brokers, no (or at least very limited) delays with loading and unloading, and no looking for loads and haggling rates. I feel like this mitigates my risk. Another reason I like this setup is because if all goes well, I plan to add a few trucks over the years, and this would take out a lot of the hassle of the day-to-day operations, at least while I'm also still on the road.
So my questions to the community are:
Is there anyone on here with current or very recent experience with this division?
Does this sound like a reasonable venture, or am I talking myself into it?
Does anyone know of better/similar operations?
Thanks in advance to everyone, I appreciate your time.
Looking at Forward Air
Discussion in 'Ask An Owner Operator' started by mpotts90, Sep 30, 2019.
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REEFERman450, Cabinover101, SimpleTrucker and 2 others Thank this.
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You can’t say you have a decent amount of business sense and then go on to justify working for such a low rate.
Sounds like you have your mind made up already, good luck.Brettj3876, dunchues, Midwest Trucker and 11 others Thank this. -
Do they pay for your fuel? Or does that come outta the 1.00 mile you get paid
jamespmack Thanks this. -
1.13 solo hazmat
Some lanes (<400mi) have extra pay or flatrate to make up the shortfall.
Recruiter might state solo 3k miles per week but driver faq pdf states 2200-2500 with peak weeks of 3000 which is pretty accurate to start.
What does " somewhat forayed" into ownership mean?
Have all the resources to work on your own truck at home? Even on the road?
Is $2300 avg settlement pre tax per week enough for roi and family overhead?
Seriously, after you are done feeding everyone, how long to replace the 60k AND have enough for a replacement truck?
Otherwise you're buying a hobby.
If you buy all your truck insurance plates etc through faf your deduction will be $125 per week ongoing plus $100 per week for the first 25 weeks for the security deposit.
Can you afford to walk away from 60k and look your family in the eye?
Who pays your medical?
"Does this sound like a reasonable venture, or am I talking myself into it?"
Yes.Brettj3876, autopaint, REEFERman450 and 3 others Thank this. -
This week .39 calif .22 midwest.REEFERman450, jamespmack and Coffey Thank this. -
I had a pretty good feeling that's exactly where it was going. If it were as good as they say it is, everybody would be doing it.
By that, I meant that I bought a dually pickup and pulled single RVs to dealerships. No brokers, IFTA, insane insurance, etc.
I can some basic PM at home, but that's about it.
$2300 I can live with. I live pretty frugally, so I would say that I could replace the money in about 2 years. That's granted everything goes right, of course.
But that is exactly what this money is for, I just need to be sure to do the best possible thing with it.
Last edited: Sep 30, 2019
jamespmack Thanks this. -
Why don’t you just go get a good paying trucking job? With a clean record in a lot of places you can make 90-100k without the expenses. Plus you get good bennies.
Super-Trucker, jamespmack, ChevyCam and 1 other person Thank this. -
jamespmack and Coffey Thank this.
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It takes 1.63cpm to operate a truck and trailer and pay a average wage to driver. The trailer is worth .10-.15 cents. So 1.53cpm tractor. Now I would never work for that, but it's the figures. If you plan on paying yourself you best go someplace else. You would be a fool to run a Cat in that operation. If your gonna own your own ride, get the big miles idea out of your head. You will end up with worn out equipment and no money. Figure out how to run less miles for more money.
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