Truckers to shut down DC

#51
#51
VolsNSkinsFan said:
I live in Atlanta. I feel like I could put down $25K and buy an 04-05 truck for like $50-60k and pay a driver a wage or % and after a year if things work out buy another truck.

When you say 25/30% of what the truck makes, is that before or after fuel, insurance, truck payment, etc?

My great grandfather and grandfather owned a trucking company which started in the 1920's (no joke) so its sort of in my blood. I currently trade a lot in the stock market and do pretty well but Im ready to start a business. Ive looked at getting a franchise or buying rental property but I always come back to the trucking industry
Click to expand...

Don't do it.

Do some serious research if you just have your heart set on it.

1-If you can't afford everything out of your pocket you better be in a position to jump in that truck and fulfill your commitments when your driver doesn't show. And that will happen.

2- You need to be able to drop 10k on a repair and stay in business. An 04-05 truck will need an overhaul at some point. A transmission, something, maintenance is not cheap.

3- Repair shops suck! When your truck does go down, be prepared for it to be down for a week or more, not always but be prepared. Remember a lot of drivers live paycheck to paycheck, they will walk in a heartbeat if they don't get paid because the truck is in the shop.

4- Fuel!!!! and Fuel!!! Around $3.90 per gallon in your neck of the woods.

5- Insurance, not only for the truck but cargo and workers comp. Workers comp on a driver is a killer.
 
  • Like
Reactions: 1 person
#52
#52
Obsessed said:
That percentage is based on gross.

25k will buy a good nice tri-axle here.

In this business drivers are paid through lunch. Most jobs allow travel time. (Contractors vary)here in arkansas we are not regulated by dot because we are with in 100 miles of our business address.
Click to expand...

Do you cross state lines? If so you are, you are just not required to do a daily log. Still supposed to do the weekly recap but not many do it.
 
#53
#53
Gramps said:
This is a different type hauling ftom what Ob is discussing but between 1995-2002 I added 4 expedite straight trucks to my business. We paid those drivers 50% of what the truck brought in and they bought the fuel. That worked out well for both parties. I was fortunate and landed some good drivers on these units. I ended selling the truck to the drivers on lease purchases. We made owner operators out of them.
Click to expand...

:rock:

If as an owner you can do that, it's the way to go.
 
#54
#54
hog88 said:
Do you cross state lines? If so you are, you are just not required to do a daily log. Still supposed to do the weekly recap but not many do it.
Click to expand...

We get 30 day permits to run in Oklahoma when needed. We don't buy our fuel there.

We are exempt
 
#56
#56
hog88 said:
Don't do it.

Do some serious research if you just have your heart set on it.

1-If you can't afford everything out of your pocket you better be in a position to jump in that truck and fulfill your commitments when your driver doesn't show. And that will happen.

2- You need to be able to drop 10k on a repair and stay in business. An 04-05 truck will need an overhaul at some point. A transmission, something, maintenance is not cheap.

3- Repair shops suck! When your truck does go down, be prepared for it to be down for a week or more, not always but be prepared. Remember a lot of drivers live paycheck to paycheck, they will walk in a heartbeat if they don't get paid because the truck is in the shop.

4- Fuel!!!! and Fuel!!! Around $3.90 per gallon in your neck of the woods.

5- Insurance, not only for the truck but cargo and workers comp. Workers comp on a driver is a killer.
Click to expand...

Some of this applies to dump trucking. Not all.

In arkansas. If the employee is pay based on truck gross (%) then the driver can be considered a sub contractor. Therefore workers comp not needed. The state will provide the waiver.


If your not making 100k+ a year per truck per year you are doing it wrong
 
#57
#57
Obsessed said:
Some of this applies to dump trucking. Not all.

In arkansas. If the employee is pay based on truck gross (%) then the driver can be considered a sub contractor. Therefore workers comp not needed. The state will provide the waiver.


If your not making 100k+ a year per truck per year you are doing it wrong
Click to expand...

Good point Ob... make them 1099 sub contractors .Saves a lot of hassle and cost.
 
#58
#58
Obsessed said:
Some of this applies to dump trucking. Not all.

In arkansas. If the employee is pay based on truck gross (%) then the driver can be considered a sub contractor. Therefore workers comp not needed. The state will provide the waiver.


If your not making 100k+ a year per truck per year you are doing it wrong
Click to expand...

We used to do some of that and took a hit. Since they were using our equipment, we told them where to be and when and paid the fuel, they were considered employees. All of our customers require WC and we do also for any of our subs. Walking a fine line without it.

No big deal, state to state I guess.
 
#59
#59
hog88 said:
We used to do some of that and took a hit. Since they were using our equipment, we told them where to be and when and paid the fuel, they were considered employees. All of our customers require WC and we do also for any of our subs. Walking a fine line without it.

No big deal, state to state I guess.
Click to expand...


If you pay them a percent of the gross the truck brings in with no base or hourly pay you can count them as 1099 contractors. It doesn't matter if they are driving your equipment. They have to be working on a strickly commission basis. I did that for several years with drivers and sales people in TN .
 
#60
#60
Gramps said:
If you pay them a percent of the gross the truck brings in with no base or hourly pay you can count them as 1099 contractors. It doesn't matter if they are driving your equipment. They have to be working on a strickly commission basis. I did that for several years with drivers and sales people in TN .
Click to expand...

Exactly. I even did the same thing with my lawn crew hands for years.
 
#64
#64
Obsessed said:
Some of this applies to dump trucking. Not all.

In arkansas. If the employee is pay based on truck gross (%) then the driver can be considered a sub contractor. Therefore workers comp not needed. The state will provide the waiver.


If your not making 100k+ a year per truck per year you are doing it wrong
Click to expand...

Dang, Ive got a lot to research. 100K per truck!?! I was thinking if im clearing $500 a week, thats a homerun.

Where should I look for a driver?
 
#65
#65
Most all truckers I see look almost homeless. I guess looks can be deceiving.
 
#66
#66
VolsNSkinsFan said:
Dang, Ive got a lot to research. 100K per truck!?! I was thinking if im clearing $500 a week, thats a homerun.

Where should I look for a driver?
Click to expand...

Ad in the paper or Craigslist.
Check at local quarries or asphalt plants.

500 a week isn't worth getting out of bed for.

Lordvol23@yahoo.com. If you have any more questions or need any other help in may be able to assist with.
 
#67
#67
AirVol said:
Most all truckers I see look almost homeless. I guess looks can be deceiving.
Click to expand...

Just a stereotype. 75% of them here have nice homes. Nice vehicles. Pay their bills. Raise their children.


" don't tell my folks I'm a truck driver, they think I play piano at a whore house"
 
#68
#68
VolsNSkinsFan said:
Dang, Ive got a lot to research. 100K per truck!?! I was thinking if im clearing $500 a week, thats a homerun.

Where should I look for a driver?
Click to expand...

OB knows something I don't.

To clarify I have not owned any trucks for 11 years. My trucks would bring in gross revenue $100K + per year but I have never CLEARED $100K per year on a truck.

Rates are much higher now but so is everything else. Fuel average price this week 3.974. You can figure 5-7 MPG. As Hog said repairs are outrageous. I would recommend you keep a min. of 10K in a fund just for repairs and they will not be enough for a major problem. The truck will break down at some point.

There is some money to be made but be careful. It is also easy to lose money with a couple of bad moves. I think you would need at least 3-5 trucks to keep a good money flow coming in. If I were to buy any I would want around 10 trucks to keep a good flow coming in. There will be breakdowns and driver turnovers that will kill you with only one truck.

Just my :twocents:
Good luck to you if you decide to go through with truck ownership.
 
#69
#69
Gramps said:
OB knows something I don't.

To clarify I have not owned any trucks for 11 years. My trucks would bring in gross revenue $100K + per year but I have never CLEARED $100K per year on a truck.

Rates are much higher now but so is everything else. Fuel average price this week 3.974. You can figure 5-7 MPG. As Hog said repairs are outrageous. I would recommend you keep a min. of 10K in a fund just for repairs and they will not be enough for a major problem. The truck will break down at some point.

There is some money to be made but be careful. It is also easy to lose money with a couple of bad moves. I think you would need at least 3-5 trucks to keep a good money flow coming in. If I were to buy any I would want around 10 trucks to keep a good flow coming in. There will be breakdowns and driver turnovers that will kill you with only one truck.

Just my :twocents:
Good luck to you if you decide to go through with truck ownership.
Click to expand...

Gramps,
Dump trucking is a whole different animal than freight. Completely different. A truck will sit on a job for 3-4 hours sometimes idling. Or may be hauling on site and only burn 30 gallons of fuel. But make 800-1000 bucks gross.

I know 40 guys that own one truck. Make very good livings.

If he's smart enough to make a living in the market, he can handle running a dump truck or two.
 
  • Like
Reactions: 1 person
#70
#70
Obsessed said:
Gramps,
Dump trucking is a whole different animal than freight. Completely different. A truck will sit on a job for 3-4 hours sometimes idling. Or may be hauling on site and only burn 30 gallons of fuel. But make 800-1000 bucks gross.

I know 40 guys that own one truck. Make very good livings.

If he's smart enough to make a living in the market, he can handle running a dump truck or two.
Click to expand...




There are many different sectors in the trucking industry with each one being different.

I was not trying to argue with you. I was pointing out that it is not all gravy. Just buying a truck and sticking a driver in it is not going to bring in Skin a guaranteed $100K, $50K or $25K per year in profit. The driver he hires is going to be the key to him making money with one truck especially being new to the business. Truck ownership with drivers can be a BIG headache.
 
#74
#74
W.TN.Orange Blood said:
Also one of the worst was........BJ & the Bear. But that was on TV I believe. Really, pitiful stuff. All those CB'ers were in love w/that show for a week or two.
Click to expand...

I think ole bear was a giving the bj's in that cab. He had a strange relationship with that monkey ...and the show did suck.
 
#75
#75
Gramps said:
There are many different sectors in the trucking industry with each one being different.

I was not trying to argue with you. I was pointing out that it is not all gravy. Just buying a truck and sticking a driver in it is not going to bring in Skin a guaranteed $100K, $50K or $25K per year in profit. The driver he hires is going to be the key to him making money with one truck especially being new to the business. Truck ownership with drivers can be a BIG headache.
Click to expand...

I didn't guarantee him anything.

You still try to equate your experience of freight to dump trucking. It's not anywhere close to the same.

Less liability. More revenue. Truck breaks down. It's fixed local. All these things add up.

He could buy a truck. Send it over here tomorrow. If have it to work Monday making 65 a hour. 10-12 hours a day. 5-6 days a week. (Weather depending).

If he wanted to be real aggressive, put another driver in it at night and run another 12 hours. All on the same job for the next 18 months.

We run our 20 a day plus another 20 lease trucks a day. And still can't find enough trucks.

It's a gamble. Like any thing you do. Just like when you started your business for you and granny. You took a risk.
 
New posts
You must log in or register to reply here.

VN Store



Back
Top