So you want to "own " your own company

Well might as well call it 12 cents for every mile you travel in oregon,,, #### thats highway robbery!!!!

 

As far as just starting out I would like a few opinions from the veterans on this board on how I did with the first load that I booked, pulled, etc.... For the background I have a seperate job that allowed me insight into the trucking world and from that I decided to buy a rig, hire a driver (friend), and see if I can make it happen. After the mountains of paperwork involved in getting the Authority, Insurance, IRP, IFTA, UCR, etc....I paid for the truck ( 06' Peterbilt ) and the trailer ( 04' Strick 53" Dry Van ). We picked up the trailer in Atlanta this morning. I have subscribed to the Get Loaded Board to see what I can do from that aspect and posted that I had a truck out of Atlanta for the 8th - had quite a few calls and eventually booked a load out of Cleveland, TN to Tampa, FL (577 Miles) that initially paid $1000 however I asked for $1050 for the deadhead miles ( 118 ) If I had the Delorean from Back to the Future it would have been $150 I had asked for but that was Lesson Learned Number 1!

At the end of the day I booked a load paying 1050 for 695 total miles = $1.51 a mile. Out of that my driver gets $250 and the fuel is will approximate out to $350 + / - 3%. Add in the $14 per day insurance cost X 2 = $28 and the truck payment of $46 per day = $92. All said and done I should = $330 to me as the owner on a good day and $270 if it works out for me in a worse way.

With that information I would like an honest opinion from the veterans on here what there honest opinion of my first time out as an owner is. Do you think I will go broke, maybe make it, decent job, or whatever.

Granted I understand the load is going to Tampa, FL and trying to find a decent paying rate out of there will be tricky but again I am looking for honest opinions. Also fuel was assumed at $3.00 per gallon and 6 mpg for the calculations. As it is a new truck I am trying to figure out what exactly it will get, etc....load was 40.

At any rate I appreciate any responses in advance!

Thanks,

GP

 

I think you'll do alright as a part time income. You can dead head out of Tampa for about 300 miles and make your way to PA for $2.00 per mile.

How are you paying your driver, a flat rate of $250 per day?

If it were you running the truck you can afford to sit for a few days but when you have a driver in the seat you have to keep that truck moving all the time at any cost.

 

Sounds like 25% of the gross. If you can find good freight, and keep the dead head down, you may do OK. Just remember dead heading wears out a truck just the same as a light load will. Be sure to count D/H into your calculations in the freight rate.

 

Thanks for the opinions - yes I am paying the driver 25% of the gross. In this case I kept the extra $50 for the fuel to d/h to TN. The idea is to get it to a full time operation after slowly getting my feet wet. I based the 25% to the driver based off the business model of one of my more succesful clients ( trucking insurance is what I do when not getting myself in the deep end of the trucking pool ). I did factor the d/h miles into the calculation and as far as the sitting around factor this driver doesnt seem to be too concerned and as of now trusts my judgement on what too accept. Meaning he doesnt want to drive all day to just make $87 as some of these freight brokers are obviously proud to pay. His house and personal truck are paid for so while he does want to make money it isnt an at any cost scenario. In this particular case the truck is new to me and him and his brother lives in Tampa, FL so he was going to see him for the wknd and obviously I have to book a load soon.

Thanks again for the opinions!

I have a meeting shortly with a guy in Atlanta about some $2.05 per mile stuff so obviously I am hoping that goes well. Thanks!

 

Now I just need to find me a tutor haha.

 

That's kinda what I was going for by sending somebody to that thread, so they can see how wrong their "O/O plan" can go without experience.

 

Matthewseed or Pipeliner could you please elaborate a little more as to what exactly I did wrong on this particular one. I realize it is the first load however by all accounting standards it was a profitable one. As I have mentioned I appreciate all opinions and yes, even ones I may not want to hear. Please just elaborate on the quick notes or perhaps share the financial info on your last load.

Thanks

 

I think there's been some confusion, I believe there are a couple different conversations going in this thread at the same time, my comment wasn't directed towards you, sorry about that Marlin.

 

Hello, I'm 24 have around a year in experience, married no kids looking to become a owner/op. I plan on buying the truck with cash and maybe a trailer but I havnt decided on that yet. I don't have much knowledge in the legalitys of insurance and licincing but I've learned some from this website already. I was looking into a Peterbilt 389

The wife would be with me so I need a large sleeper

I don't have over the road experience would that effect me getting jobs? I've seen a few companys that are all owner op should I try to get with one of those?

Also would insurance be crazy high considering my age and experience?

I really want to get away from working for someone else that dosnt give a #### about me or mine and only thinks of the bottom line!