Profit/Expense calculation per month. Is this right?

And I personally don’t need practice doing it for nothing whether I own the truck or not.

don’t know why we are wasting money on factoring either but I wish I could get away with $200 in tolls a month


How many miles/days/hours are you running for all this?

 

I think, the limit is $250K per account, not per institution, so he can open up multiple savings accounts at the same bank and be all right.

If the rates continue to slide, in a few months - up to a year, there should be a good time to add trucks, if someone has ambition to expand. The real skill would be to populate the truck seats with the right drivers.

 

At least you've got a good attitude about this. You'd be surprised how many uneducated (in the industry) folks come on here , ask what you have - then tell us we're all stupid.

Answering the question - most successful guys I know offer something above the rest of the pack - service, specialty - whatever.

They run their own equipment, take care of it, and MAAAAAAAYBE have one or two other trusted drivers.

And - as said, they prepare for times like these in the industry.

 

One could think that out of all places on social media, what site if not this one would be adequate enough to ask such questions, after all.
It is all right for some newcomers or ambitious types with their premediated, self-hatched business idea to polemize for a little bit too. They need to ask more questions, and lose a few arguments to be put back to the right level. I was a company driver for 12 years before going o/o and certain concepts such as difference between own authority and being leased on to a carrier, factoring, brokers, load boards, direct customers, insurances for cargo, auto-liability, general liability, back office safety and regulatory paperwork requirements, not to mention another animal which is maintenance cost management, were of little interests to me but then I had to ask questions and look for affirmation, encouragement or discouragement too.

 

None of us were born with all the knowledge we have now or have yet to acquire

Whether it was dad. A friend or a forum like this
We all had to learn whatever it is we know

There should be no such thing as a dumb question but it’s those who ask and feel that they are ready to jump that drive me to think more need to do way more listening before jumping and to weed out or find the middle to the two distant opposites and find the middle that works for you

####
That sounds good in my head

 

Ease off on the tequila.

I hear ya though.

Watch the sunset, and hug your family - and we'll see you in the morning.

Frustrating - is it not?

 

Oh my!
That did sound better in my head.
I had to edit it a little but still doesn’t read the same as I thought it…..,

 

And this is why rates go down

You’re already undercutting @F4T6UY

Both need to hold your ground
He will obviously buy more trucks at that rate and there will be plenty to go around

 

In all fairness, is the OP really off the mark by that much with this number? Would that include all taxes, insurance, and benefits that the employer pays in that number?

While I'm just a company schmuck, I could see a driver costing close to that. Being generous and saying $8k in actual wages, $1500 a month in healthcare coverage (last I knew for a family plan where I work was $1350/month and that was 3 years ago), 401k match at say $300, and let's not forget the employer portion of the SS tax, workers comp insurance, and whatever else may be missing. I could see getting within $3k of that 16k. Again, I'm just a company schmuck, but still....

 

Those must be some WM or Sysco own fleet benefits...
Small carriers, let alone owners of a few trucks, don't pay all these things. Rarely, have I heard, that they would even give you paid vacation. You may get paid more per mile, much more per mile, but forget about the other stuff or perks. Also, quite often it is done on 1099 too.