New O/O Is this deal OK??

It sounds like an ok deal, but the problem is why settle for somthing you do not want..... You bought that truck to be your own boss, If you don't
want to be out "7-10 days out" then find a company that has better, home time......you and your son, will be happier..
As far as haveing to make $1.50 to make, It depends on you, The thing that makes me laugh the hardest, is when owner operaters complain about
how they are not makeing enough money, it's aways the ones with the BIG W900L WITHE FULL FENDER'S 86' SLEAPERS,ENOGH LIGHTS TO LIGHT THE EASTERN SEA BOARD,bIG HOUSE AT HOME,FANCY CARS(WHICH THEY NEVER GET TO SEE), i don't feel sorry for them....You sound like you have a level head, based on the fact that you bought a used truck,which might make it harder to find a company(a lot of companies age restrictions on for tractors). as for the $1.50 that most of the time is only when loaded, would you rather make $1.50 only when loaded or $.89 for all miles? My dad has 7 trucks out of his fleet leased on as perentage drivers with two outside companies, thats another option you have, but you realy have to know what you are doing,to maxamize your profit's... hope this some what helpful... good luck

 

You are very smart, it took my dad 34 years to get close to the forty trucks he has, and that is exactly why He Took His Time....The tortis beats the hair, no matter how many times you read it... good luck!

 

you really need to be out 7 to 10 days these days to run your own truck. you also want to get your own authority in the future so you can keep more of the revenue for yourself and come home when you want to. One thing I have always tried to do is get something for empty miles,at least the cpm it cost you to run your truck expenses. There are some companies paying 90 cpm on all miles and reimbursing your tolls also,and a fuel discount too. Where you live the tolls could kill alot of your profit. Good luck with your endeavor.

 

The question of whether or not is is a good deal comes down to your operating cost. If you can manage to keep your costs down enough, then you can make money. It's not the most lucrative deal out there, though it matches up fairly well with the standard deal that most of the van companies do. The two keys here are that the truck has to pay for itself, including putting away a maintenance fund for future expenses, and it has to actually pay you for your efforts, so that you and your family don't have to make box macaroni and cheese a staple in the household.

You have to have money put away for emergencies, and repairs. I have been on the phone lately with a driver who has a newer truck than yours, and he is spending about 700 per month on maintenance,and he has had one or two items that were still covered under warranty. So the expenses on an older tractor are going to be that much, and maybe more.

You need to look at the specifics of the deal, and find out exactly what they are paying for. A trip down 294 is going to run into 30 dollars, so the tolls are important, and some times the best route is through downtown and onto the skyway if you have to run Chicago. You need to know how they calculate the miles you run, and keep track of the miles you actually do run so you know what your costs actually are.

Bookkeeping is going to be critical, because that's the only way you will know if you are actually making enough money, or if you should get out of the truck and run as far and fast as you can. And you are going to have to economize as much as possible. Limit idling, keep the speed under control, and use all the fuel saving tricks you can since every drop comes out of your pocket.

 

what are you hauling?

 

Do the math...... fuel is gonna cost you 50 cents a mile...... leaving 37 cents a mile = drivers wage. Wheres the money gonna come from to pay for everything else like truck payment,highway use tax, maintence & repairs, new set of tires every year, brakes every year, etc. etc etc...... Plus this guy is probably going to pay you in short miles @ 87 cents a mile... Thatsnot even in the ball park and i say NO DEAL

 

.87 a mile? are you joking? What is the fuel surcharge? There are LOTS of companies that pay .92 a mile + FS.

I leased to Hill Brothers for 2 months and about went bankrupt at .88 a mile. They told me great stories of fuel surcharges and drop/hook and this and that... When it came down to it, I wasn't bringing anything home after my road expenses and truck payment ($1500 a month).

I would seriously suggest you look around. I'm coming out of being an independant O/O and found a few companies that pay $1.40 a mile to the truck. I need .75 a mile just to pay insurance, fuel, and food. That isn't including truck payment, house rent, utilities, and life.

Don't jump without investigating. You'll regret it.

 

Hey UJ, How's it going? I see you found my new hang out!