Stressed!!! Please help my anxiety.

not with one truck operations.

 

his blog detailing all his finances he posted on the first or 2nd page. i had to take a careful look at that to make sure i was reading correctly. that just seems incredibly low for that high of a gross. that does include every possible expense he incurred for the year... but still. might as well be a company driver if that's all he's taking home for an entire year

 

Through in his fuel bill,and you already over 10 grand/month.Sheesh

 

He had a rough start up.

He purchased a used truck in cash, put new tires on it, and had several thousand in repairs, ended up with low oil pressure and he still had the original problem (if I remember correctly), and traded for (what I thought) was a brand new truck. I thought I read somewhere that he had to put new tires on the new truck also... All in one year.

So between all the expense with the old truck and the payments on the new truck and trailer, alot of his profit got eaten up. It's gotta be tough making money with the big payments and the big insurance.

But he survived all that. It will be a better year for him, especially if he can get the trailer paid off and work on getting that truck paid off.

I hope that someone more kmowledgeable than myself can guide him on the best path with the expenses that he has. He certainly has the right work ethic to be successful.

I wish you good luck, higb.

 

okay thanks,
didn't read the blog,

 

This is a great thread. Lots of info for a newbie. Thanks for posting your numbers. Glad to see your net is up for last month. Keep us posted. Hopefully that stress and anxiety fades with a few good trips to the bank. Best of luck to you OP.

 

I dont understand why you think theres always gonna be a bunch of paperwork, its very simple. Keep your main insurance page, your authority page, and a filled out w9, I think thats it, anyways thats basically what you need to send each broker and fill out there paperwork. You do this once for each broker. Its simple, factor your loads, I pay 2.5% but should be due for a reduction. I do my IFTA every 3 months, I do it on my states website, punch in my miles my fuel purchased and my mpg and push a button and its done, the website does the work, dont pay for this service. Join Ooidas cmci (drug testing), it is a little overwhelming your first month but just relax annd keep organized. Theres a free app called "DriveAxle" that is basically a free fax from your smart phone. ou can also get a bluetooth printer if you need it for your smart phone. I dont need to call for loads anymore, actually they just called me when I was leased to MAG and I did a good job so they ccall all the time. I do all shorter freight, more money where I live. MAG was a decent place to learn how to book loads and basically be on your own except that they fine you for BS and Ive had to straighten them out on so many things they were doing wrong, like running into NEW YORK when you needed the little sticker, they had everybody running there telling them it was covered under IFTA and wasnt. Needless to say the next day they were getting everybodies info for a New York sticker. They were just a sorry excuse for a trucking company. I dont know about now, this was a 2 or 3 years ago. I was getting stopped for DOT checks more than normal because of their safety score. Im very happy I got my own authority, I pay cas for my truck and trailers. Its really not to bad, just dont put anything off. Keep up with everything. Its not to bad.

 

Not trying to sway your decision one way or another but some of the things you are stressing over like the administrative stuff become easy once you start doing it. Stuff like IFTA and HUT can be filed in no time at all online now with just some simple record keeping of mileage. I found the Fogline software helpful for keeping track of expenses, record keeping and invoicing and takes no time at all once your use to it. Yes you'll have to wait 30 days or so to get paid now and I never used factoring so I cant help you there. Some brokers do offer a relatively cheap quick pay option like Landstar and offer good fuel discounts with there savings plus card if you have money in your account with them. Seems to me you would have the hardest part of the battle conquered right now and that's establishing a relationship with some good brokers. Very few would not load me until I had some time in with my own numbers and a couple waived it after a little sweet talking. The main beneficial thing I could see being leased to any carrier in times like now would be if it was someone who had some good paying contracts but as cut rate as things are those are often short lived. Best of luck to you with your choice either way

 

This is over 2 years old.