should I run on my own truck

It might be an option. Without knowing the industry it will be difficult to earn more than a company driver would earn. My advice to you is to drive a truck for a small company who will respect you as a human being. I have to assume by being retired you are entering "the golden years." Owning your own truck brings MANY hardships. Even more than just being on the road. The real profit of owning your own truck is once it is paid for, then you can pocket more because the payments have disappeared. Even if you can pay cash for your truck does not mean you should not be budgeting for the price of the next truck. Another note about owning your own truck, you may desire to see the entire country, but if the freight isn't there, or is paying so little, then it would be a financial mistake to take those loads. These are much less costly by driving for someone else who has already been around the block a few times. In trucking there generally isn't a whole lot of time that you can stop to see the sights you really would like to see. Nevermind finding a place to park the truck, a place you feel safe enough to leave it.

The amount you can make per mile is a very very vague question. It will depend on what kind of freight you pull. Refrigerated? Dry van? Flatbed? Tanker? Containers? It also depends on where you live and what freight is moving around you.

If you run your own authority you will need to find your own loads, keep up with regulations, do your own billing, the works. If you run under someone else's you will be paid either a percentage of the load or by the mile. There are even variables in that. Short loads may pay more but there is no miles in it so it has to be a balance. Long loads might pay less per mile but in the end you have more dollars to show. But, you have worked harder and put more miles on your truck for it.


Bottom line: You need to think about what you want to accomplish in trucking. If you want to see the country, drive a company truck. If you want to be your own boss, DRIVE A COMPANY TRUCK FIRST, LEARN LEARN LEARN, then, re-evaluate.

 

How much a mile will you make is a loaded question. There's guys out here running for $1/mile gross, and others that are averaging well over $3/mile. Even on up to heavy haulers who may average way more than that. What area do you want to run ? all 48 ? do you plan to get home every week or stay local and get home everyday ? pulling a van or flatbed, RGN ? Do you want to lease on with a company or operate under your own authority ?

 

If you take the time to go through all of the threads that already go over this. You'll find all the answers to your question. That's what I've been doing the last few weeks since I joined this forum. Lot's of great info already on this forum. Just take the time to go through all the threads and use the search window in the upper left.

Good luck!

 

No!
Run for 2 years and you will hopefully see what I mean

 

I wouldn't jump right into it as an owner operator. The industry has an extremely high turnover rate. Your best bet is to run as a company driver for a couple years or more and learn the industry first. Then if you still like it take the next step forward.

 

It's true there is a lot of turnover and a lot of guys fail. But if you can pay cash for truck and trailer I don't see how you can come out too bad. you can hire people pretty reasonable to help you get your plates and permits in order.

You don't want to look at it as all profit though. You're putting up money for that truck and trailer, you're paying $2000/week on fuel, you're paying $700/month on insurance, you're paying some $7500/yr or so for plates, taxes, and permits.... you need to be paid fairly for your services and make a good profit on this venture if you do it. You may want to find a good company to lease too, that can insure you have good freight and can run somewhat the way you want. Or if you're deadset on as much control and calling your own shots, it is possible to work the load boards or develop your own accounts. Try to stay in areas with good freight volume and hold out for loads worth pulling. It's usually advisable to start in the spring rather than the fall or winter though. you might want to just do your homework over the winter, spend plenty of time finding the right truck and trailer, shopping for insurance, fuel cards, getting your books set up, and then try to get everything together for next spring.

 

Few people can buy a truck and make money without very deep pockets or experience. You will need to buy a truck and trailer if you plan on running under your own authority. There are a few carriers who will allow you to pull their trailers if you have your own authority, but most brokers and shippers require the carrier have their own trailer. There is a lot to learn in this business. Most think that all you need to do is drive the truck. You will need to learn about the paperwork, logs, compliance, finding and booking loads, negotiating, billing and collections. There is a learning curve to any business. Truckers are a target for states that don't know how to manage their budget. A small mistake can cost you thousands of dollars in fines.

I would recommend that you find a company driving job and spend at least a year or two learning the basics of this business before you consider buying a truck. You may find that you would rather stay a company driver or even not like the business. Impatience is your enemy. Buying a truck is expensive. Maintenance, permits and all the other costs of ownership is not cheap. I paid almost $2,000 for my base plates this year. Insurance is costly, even for those of us with many years of safe driving experience. Owning a truck can sound like a great idea. In actuality, it is a good way to lose your shirt if you don't understand what you are doing. There is no need to get in such a hurry. I have spoken with several experienced owners in recent months, who have decided to sell their trucks. They are finding it difficult to make money in this volatile economic environment.

There are some good carriers where you can get a good start. I think you will be glad that you waited until you learn something about the business rather than going out and spending money before you fully understand what you are getting yourself into.

 

Did he just say he's retired @ 39 years old with pension and benefits? Playing xbox all day..is this true I don't believe my eyes