Need Advice on my Job offer 50% of net after 10% off gross

Discussion in 'Ask An Owner Operator' started by Heavy Heavy, May 15, 2022.

  1. Heavy Heavy

    Heavy Heavy Bobtail Member

    10
    12
    May 15, 2022
    0
    I’m thinking of going back to work for an O/O family friend offer is 50% of net after 10% taken off gross for dispatch and factoring(his own authority)splitting fuel cost and insurance(my parts 500 a month). Max I pay for repairs on truck is 250 no matter what goes wrong with it unless I hit something then it’s 1000. I worked for him before in 2021 the market was great was grossing 10k plus every week. I am able to go home every 2 weeks for up to 4 days or keep running.Heard freight is not as good now. Is this a great deal really not feeling otr right now but the money is calling. Btw I am able to book loads from brokers and I do see the actual rates of whatever loadboard and we often 3 way call the broker so I know he’s not hiding costs unless that insurance price is too high(500). Is this more then fair or am I just looking for excuses not to leave my comfy home?
     
    Last edited: May 15, 2022
  2. Truckers Report Jobs

    Trucking Jobs in 30 seconds

    Every month 400 people find a job with the help of TruckersReport.

  3. ProfessionalNoticer

    ProfessionalNoticer Road Train Member

    2,257
    5,561
    Apr 25, 2021
    0
    The market is tanking right now. Does he have contract work or will you be running spot freight?
     
  4. roundhouse

    roundhouse Road Train Member

    1,788
    3,580
    Jul 11, 2018
    0
    Sounds like a complicated pay plan
    I can tell you that there is no way I would get involved with such a complicated pay plan , and no way I would split the fuel costs of someone else’s truck .

    Why not just buy your own truck and get your own authority ?


    I know several drivers that get paid percentage , but it’s usually a flat % of the gross .

    The driver I know well enough that he’s told me what he gets paid , gets 20% of the gross to the truck .

    if the truck gets $5000 for a load, he gets $1000 .


    And to clarify : you are saying that when your works for this guy previously ,
    That you took home $10k a week before taxes ?
     
  5. xsetra

    xsetra Road Train Member

    4,467
    5,441
    Aug 21, 2011
    0
    Why did you leave before?
    Why are they factoring and what is the cost?
    What happens if the company doesn't get paid for a load.

    The way I see your terms. You are taking on business liability without business ownership.

    I would work for a flat percentage. I understand the business wanting you to have some interest in controlling costs, to keep expenses down.
    It's tough doing business with friends and family. Some issues may be hid in silence until it becomes an unforgivable problem.
    Daily communication is important. Minor issues most be presented in real time.

    Keep it simple.
    Good luck.
     
  6. Heavy Heavy

    Heavy Heavy Bobtail Member

    10
    12
    May 15, 2022
    0
    Ya it’s spot market rates
     
  7. Heavy Heavy

    Heavy Heavy Bobtail Member

    10
    12
    May 15, 2022
    0
    No I was taking 2k-3500 and thats with going home every other week b4 taxes. Will not buy a truck at these insane prices 140k for a kw with 450k miles no freaking way. You absolutely cannot buy a new truck right now mega carriers can’t really get them let alone regular people they are on back order
     
  8. Heavy Heavy

    Heavy Heavy Bobtail Member

    10
    12
    May 15, 2022
    0
    It’s really not complicated if you think about it. Never had that problem as far as factoring. As long as I did my part correctly with scanning paper work on time. He factors because sometimes they don’t pay for awhile worked out so far
     
    Last edited: May 15, 2022
  9. ProfessionalNoticer

    ProfessionalNoticer Road Train Member

    2,257
    5,561
    Apr 25, 2021
    0
    I wouldn’t do it then, my friend. You'd do better off as a company driver. Unless there's some reason you have to be 1099 (like garnishments or court orders etc etc) I'd go with a w2 job where you can walk away at any time AND you get unemployment and workers compensation in case something really goes south.
     
  10. Lyle H

    Lyle H Heavy Load Member

    898
    1,754
    Apr 16, 2014
    0
    Sounds like a great deal ……for the other guy.
    You won’t be family friends for long with those terms.
    He better put your name as part owner on the title of that truck, because with those terms you deserve it.
     
    Heavy Heavy and Diesel Dave Thank this.
  11. AModelCat

    AModelCat Road Train Member

    24,397
    121,997
    Jul 7, 2015
    Canuckistan
    0
    You lost me when you said you had to pay for half the running costs of a truck you don't even own.........
     
  • Truckers Report Jobs

    Trucking Jobs in 30 seconds

    Every month 400 people find a job with the help of TruckersReport.

  • Draft saved Draft deleted