Tell me if this is a good deal for and Ower Operator guys

My best friend who I grew up with has his own authority. He wants me to sign on to him. Here's the deal. He has a contract with Ryder where I can get a truck and trailer from them. He said he wasn't going to charge me any percentage to operate under him, but he said just take care of his wife who deals with all of the accounting and settlements and factoring. He's also going to allow me to use his insurance(Liability, Bobtail, Physical Damage and Cargo). So here's the breakdown of the numbers roughly.
Truck Payment- $560+.07 per mile (Weekly)
Trailer- $75+.02 per mile (Weekly)
Insurance- $350 (Weekly)
His wife- $800 (Weekly)
Fuel based off of 2,500 miles a week is right around $2,000 a week
I'll run the Northeast so tolls are a #####. So another $200 weekly there. I also agreed to pay the factoring fees that his factoring company charges him 3.5% but the factoring fees will come out of the $800 I'm giving his wife weekly.
This is all based off of 2,500 miles weekly. You guys think I should go for this or am I giving this woman too much money to be an accountant and a secretery?

 

Naaa....You'll go broke before his Wife will.
Firstly, You can't base your operation on 'mileage",or a weekly guarantee.

And Yes,$800 per week for approx. a few hours a day to make sure you are compliant,Have freight,and Factor, Is too much

Your numbers are like way off- If your gonna burn $2k a week in fuel on 2500 miles....You Got a Problem,A Big one.

 

I'm able to deal with the boards and brokers to get my own freight. I thought the same thing as you though. $800 is way too much to pay her. I based that fuel estimate off of pump price for 6.5mpg on a 2500 mile week. What should I propose to this guy?

 

That’s a horrible deal. Only thing scarier than that deal is 18 years of child support for a kid that isn’t yours.

 

My dude!!! What should I propose. Give me some input boys....

 

$200 a week in tolls. Think again there fella. You can spend that in a day

 

Propose he gets the truck and pays you say .55 to drive it, W2
Seeing as the truck owner will be raking it in he should be all over it

No ?

 

If you gonna work load boards n brokers: why have a third party take a cut, AND pay a factor?

 

If he’s not taking any percentage then I don’t see what’s wrong with paying her 800. Look at it is you are paying them a percentage and figure out what that 800 roughly comes too. Then decide if it works for you.

I’m WAY more hesitant that he’s your best friend then ANYTHING else. Don’t work with friends or family. Period.