I started my career in trucking in flatbed I never regret it gross 5k to 6500 weekly after truck payments and expenses i take home 2k to 3400 I can't complain( thanks your channel helps me a lot 😊
Good thing I’m an owner operator cuz I can add back in the driver pay and dispatch pay because I do that all myself. Carriers are my saving grace and I am theirs, together we make it, divided we all fall. Thanks for the video, great content.
Always a great time to get into trucking. Trucking has ups and downs always. If you can make it in this horrible market then you will obviously do well when the market is good. If you can't start in trucking right now and make it to the other side then a trucking business is not for you ever. Trucking has been up and down for generations. You have to run lean no matter how good the good times are because bad times are right around the corner. The companies that figure that out are the ones who prepare and last even if they aren't profitable currently. In business you are not guaranteed profits 24/7 you need to be able to withstand losses. That's how you become successful and grow. Imagine having to run you trucks at a guaranteed loss for an entire year just to keep your drivers happy. It might feel stupid now but it will pay off when you are one of the few still standing when it turns around.
Ya that sounds about right, I heard if you are responsible with your money and you have minimal bills and ur truck is mostly paid off you should be able to get through this hard times, would u agree?
If you can do alot of your own maintenance, that helps alot on the bottom line! Also keeping up on maintenance helps alot! My dad was a trucker and he greased his u-joints on his big rig every week, and claimed he had over a million miles on em. He used a grease called "hydrotex"
Thanks for the break down of everything. Most people close to me or around me have just put me down saying it wasn’t worth buying your own. You make the same amount a company driver does, but this motivates to buy my own rig. Thanks a lot!!! It really helped a lot. I’ve been a driver for the past 5 years. Hopefully one day I’ll get my own fleet too! (Edited)
Once a broker refused to give us a load because they needed 3 (!) years of active authority. And also, even if your MC is old enough they might not give you a load if you don't have inspection (for example if an MC has only 1 truck and was not pulled over for an inspection). And the most crazy part of the inspections issue, is that I heard once from a broker that he can't give us a load because we didn't have any inspections in that particular state where the load was picking up from. Absolutely crazy!
Have run across several companies that require 5 trucks. They're in control of the load so they can do what they want with it. Best way is to get rid of them altogether.
Thank you, M, for sharing this video and all the other videos. Despite the few assumptions in the video, this is one of the most realistic videos I have come across. The assumptions were quite close to the truth, and the main message of the video was easy to understand for anyone who wants to decide on whether to start a trucking business at this time in 2023. In general, the trucking industry is at a decisive turning point. It is not a question of if, but when the overhaul of the industry will take place. Fortunately, it is an industry the society cannot do without in the short and long term.
have 40 trucks going now.....best is to own your own trucks have consistent loads going and back having a solid relationships with clients and brokers and reliable delivery and drivers. also i never pay retail 250k for a truck and reefer. my cost are 60k for tractor and 35k for trailer..both 2 years old with 200k miles. where are you getting 2k a month in service? 6500 fuel?
Not as an owner operator as a company driver is still the best way to get into the business. And the best way to do it is to make a full commitment to doing it and living in your company truck pretty much year round and taking off as little as possible. And while you are out there keeping your expenses very low by only paying for a phone bill and living frugally on food and that will allow you to save tens of thousands of dollars every year. And if you stay committed to do that in 5 years you can and will be able to have enough money to start a business in a different field or you could stay with trucking for 10 years or more it all depends on what you want from your life. But trucking is still one of the best ways to make a large amount of money and save a large amount of money. But you have to be committed to wanting to do it for yourself and to make a better future for yourself. And if you are willing to do what I have said to do you can have saved between $100,000 and $300,000 in 5-10 years if you go for 10 years you really should be able to save even more than $300,000
Amazing content, have been following you for some time now, you are full of positive energy and the intent to help everyone by sharing your knowledge, it’s obvious the effort and time you put in making these videos,, really appreciate your efforts, thank you may god bless you.
Trucking business is just to must uncertainty. Up and down rates, fuel prices, employees,insurance going up, maintenance and that’s just if you own your equipment all money coming in just go right out. Find good company DONT GET A TRUCK UNLESS U HAVE ANOTHER FROM OF CASH FLOW. Your personal overhead and trucking business overhead will just be running negative or breaking even!! Good luck..🙏🏾💯
If not now when don't let videos like this deter you from starting your own company and getting out there grinding and making your money and making your way trust God not people
I love when you demonstrate and explain , you make so clearly and I don't even have truck . Yes this was great content well done and I'm learning some much about the trucking business. I understand why trucker need higher paying freight from broker's and great dispatch that can help them , that a lot of overhead , I appreciated your time . I know I will be re-watching again.☺
How many carriers have you tried leasing onto? Just because rates suck somewhere doesn’t mean that they sick everywhere. I can still take home 3500-4000 a week after expenses and I have a truck payment, rent trailer, etc. look around
Dd15 is the best right now. None of these current engines should be considered good. More like best of the worst. Get a truck with pre 2003 engine. Can be a newer glider kit. Way more reliable. Cummins, Detroit, cat, all good.
@@KevinG1994DD15 since they’re virtually everywhere and parts are dirt cheap or Cummins since they hold their value better.. just make sure it has relatively fresh DPF filter and Always have extra NOx sensor and DEF supply kit/pump these things needs to be replaced every 350k and many services still have them on back order
Hey there! Randomly came across your channel; youtube algorithm and all that. You make for a really good teacher, the info was super concise and well put out. However it does seem like in reality it's not such profitable thing to get into if we're talking on average. The expenses category sure looks frightening, but honestly if I was to get into this myself, I would without a doubt buy a used truck and trailer preferably pre-2005 era. I worked as a diesel mechanic for awhile so I would be able to do quite a bit of the maintenance and repairs myself. An older CAT motor for example could be overhauled and run for a million miles if done right, and all other repairs taken into consideration, you'd still be paying way less than buying/leasing the new truck. Now whether the driver has a problem with driving a 20 year old truck is another topic, but I do love older, proven machinery so there's that... Greetings from Bulgaria!
THANK YOU!! I am a new sub found you today binge watched alot of your videos, they are very informative. I have been a driver for a company for about 4 years now, however ive been trying to randomly make my own fake budgets to try and become an owner operator.
It’s not a good time to get in the Trucking, hard to make profit, even if you’re Truck is paid for, you need $3.00 per mile to make profit, but you don’t get $3.00 per mile all the time, so it sucks,
My opinion is a company driver offers the paycheck without the headache or responsibility of ownership at this point in time. But to each their own. Love the channel and the information you offer though.
Some only have a choice to become an owner and some only have a choice to become a company driver, we never know because each situation varies by person
There are drivers out there that think getting a load that just covers their fuel to get to a good paying market is good business practice, only one problem with that theory, they're are thousands of drivers all over the states thinking the same thing. This destroys the rates because the greedy brokers take advantage of that. In short, don't get in right now.
That’s what the issue has been since deregulation. The asset side would have leverage if we didn’t continually have our own drive down our rates. Brokers and shippers can try all they want to get a load moved for 1.50/mile, but sadly you end up with some person accepting the load for a loss. People who claim it covers even their cost-truck, ins, fuel-rarely does anyone factor any maintenance. Anyway-horrible time to get in this industry-fuel is still high, market rates are horrible and never picked up all year, and yet equipment cost is up.
Most of our clients have Net-30 terms but very often end up paying 40, 50 or even 60 days after being invoiced. Maddening to say the least and really hard on cash flow.
I was in the industry for 30 years was great when I started but it’s horrible now if you options stay away from the trucking industry. These guys on here saying the make multiple thousands is BS if you are you aren’t buying fuel or anything else. I had 6 trucks and was doing good if I had 1500. Revenue for each truck at the end of the month. Stop BSN people the industry has gone to hell, no respect , nasty dirty people everywhere you go not to mention the no driving foreigners. Run as far as can from it.
Thanks for telling everybody how it really is and the truth. I use to have 7 brand new trucks and 7 brand new trailers and i shut it all down last year just on time and sold everything just on time. And in this situation i would not do it again untill ther is more fright and better payed and low fuel
Truck capacity increased during covid for them sweet sweet rates.. Then covid destroyed a lot of small businesses. A very slow recovery is expected . . .if it recovers at all.
Yes I started my authority a month ago hoping I can make it. I blew a fan belt on a busy highway and almost got hit 100 times by people who fail to yeild to 4 way flashers. Last week I blew a coolant hose. I’m in the negative right now but I’m hoping for the best. Tql really takes care of me and pays me fast. I mainly work for Indian brokerages that oay me at 50 days. I’ve had a few not pay at all. I run the port of NJ to Buffalo for 1.50/mi on average. I only have enough money for mailbox stickers for my numbers and use duct tape to keep my front bumper on. I think I’m getting the hang of it though.
My truck is paid for, both trucks are paid for but don't own a trailer. I would buy an older trailer for better cost and buy it with cash. I would suggest to those that are in this situation, you do not buy your trailer until you are sure what commodity you want to haul. HOOAH!!! BTW, I always count DH miles towards my over-all miles per trip/load taken. So if the RPM doesn't makes sense for those total miles, I don't take it. If you get your numbers down to the penny, you will know how much it costs you to run your truck per mile. Once you know this, you than can make better decisions on load choice.
Factoring companies also charge you the prime rate interest that the bank charges them, and you can see it in your reserve account . So don't be surprised when they take more.
I'm a new carrier and I have two things that challenge me most! I have limited access to loads. That's one! And I live in Florida, that's two. On top of that it seems like a lot of drivers here in Florida just take rates low and make it hard to get a decent load to haul. It drives me crazy... I owe zero on my truck. But as you may or may not know the insurance here in Florida is out of control. How these drivers take loads so low I have no clue.
Insurance ain't no excuses, business planning is everything....I heard everyone complaining about insurance, fuel and maintenance. 5 business account and set aside what really needed to set aside and stay in it own lane... meaning do you and do not watch what others are saying and doing....
Why don't you run under someone else authority as OO so you can save on insurance? And as for looking for loads, use the loadboard (i.e. DAT Loadboard)
Insurnace companies are also playing a part. I’m in Florida and it cost me three times the coverage as compared to my neighbor Georgia. If you have some secreted please do share on lower insurance rates in Florida.
@@dwayneg.5128 new carriers have no business on the DAT board. Most brokers will not work with the new authority. I have DAT and never get loads from the. Canceling the subscription this month. Limited brokers a few brokers. Which is another problem but it’s all good. I’m doing my best with what is available.
Thanks for sharing your numbers, its hard to find such relevant info! I wanted to know what are your thoughts on Amazon loads? with Amazon you can benefit from running empty trailers or even ‘bobtail’ meaning no need to finish leg. Plus you have savings on your equipment. I also wanted to point out your fuel expenses that look quite high
Without getting political, there's talk about China invading Taiwan. My question is, what do you think the market would be like? I was told that WW2 help boost the economy. It was how we got out of the great depression.
I’m going to attempt to thoroughly and completely answer the question. I’m sorry, it’s gonna be a little lengthly… So, here we go… NO, Run away really quickly.. Thank you for sticky with me through the end..😂
Most people who open their business/authority are cdl drivers so you can take that expense out in this situation. Also right now I see dry van average $6000 gross per week where I live, not $2500 as she is saying. Trucking or transportation business will always be profitable as long as we live. The biggest problem with transportation is that rates go u and down reflecting demand and supply. Right now it’s bottom of bottoms regarding rates. But, trucking companies still stacking their cash for sure. No one will operate at loss at least not smart once. There is exodus of trucks or companies who don’t like the pay cut or have too high liability and are loosing money. Cash is very important for a business when hard times come
17 years on the carrier here with 20 rigs zero finance coz we buy and make new engine for the motor, we are also inhouse mechanic. Trucking bussiness now aday, faced to the fact we had worker comp extremely costly, we had AB5 new law being enforced by “driver and lawyer”, insurance really hight etc. To recap this trucking bussiness as of 2023 we under new ab5 work for free, or work until you hit the lawsuit by your drivers and had nothing left after long period of time saving that still considering lucky case, i been see carrier at the end of the day they can not afford after all new laws, new regulations and bunch of bs on the industry.
Freight market is good: "Don't get in. Truck prices are too high. You'll be buying high and once you get in it'll crash." Freight market is bad: "Don't get in. Fuel prices are too high and freight prices are too low. You'll lose."
Two days ago I had a plan and was going to be in my own truck by Jan. 1st. Now I'm thinking I will just stay where I'm at. Very discouraging. How does it go? You wanna make a million in trucking.......start with 2 million.
I don't want to insult you. You're a beautiful woman. In a certain way, you're a news reporter. Most female news reporters wear makeup. I would love to see you with some makeup and some eye lashes. I'm sure you'd be incredibly beautiful.
Comment on brokers thinking they will get a cheap truck. On lane we run sometimes brokers post a load at 2 bucks a mile or so. Every once in a while I call and talk to them. Offer them to take it for 3 bucks a mile ( still cheap dat avg is 3.76 right now). They always tell me how out of line I am. And I tell them no, its you who are out of line. The few I have talked to later have always dumped that lane because they lost so much money moving their underbid load. Nice to see the brokers lose. Can't be too hard being a broker they seem so bad at what they do. With a few exceptions. I call those good brokers. Kind of like a rare unicorn, but they do exist. Been doing this 15 years and I can name 5 good ones. You remember them.
There should be a GOVERNMENT, yes I said it, a Government study of your fact finding videos, and the trucking industry revamped! It's ridiculous really.
There're people out there taking some very low ball rates and dropping that avg rate like crazy. Unless you drive your own rig and understand how maintenance works, all the costs, etc. DON'T BUY A TRUCK!
Its really crazy- I have seen brokers start with a rate, and then once they realize that carriers are taking cheap freight they all together start reducing rates on the load board.
Not EEEEVEN! When Yellow Freight (a Union Company with a long history in transportation) closes it's doors and Teamsters lose pension money you really need to just go local and leave it at that.
Nobody even catching on to this comment. Yellow was basically the giant of hauling cheap and running rag tag equipment. AND THEY WENT UNDER. soooo yeah. I don't people even understand what's really coming either 😂 cheap freight is basically the street sweeper that's about to clean up the industry and take out the trash. But at the same time the big game hunters are also about to gain a heap ton more control. So it's still a lose lose. So the answer is. Stay away from trucking if you haven't already been hogtied in for over 5 years 😂 newbies will die and get their hearts broken. Just keeping it real
@@user-zo9fe2sp5b I agree with most of what you said. Union companies like Yellow made young and old drivers stare at the pocket watch with a dash of smoke and mirrors. And it caught up with them. If you've never really had anything or (in some cases) belonged anywhere, .... well, isn't that how cults are usually formed.
@@dwayneg.5128, you can. But it's not really worth it as a company driver. Get your rig and find your own loads is the only real way to get ahead and balance home.
physical damage is a must either way, my tanker was paid for and a major accident happened. Insurance paid me the value of my truck and trailer witch i used to buy a new rig and tanker, also pushing fuel pays way better then any other industry
Just herd Surge transportation filed for bankruptcy. How does a company with no risk go belly up. You might want to do a video on this. A lot drivers are going to get hurt.
So basically, if you spend all that money to open a transportation business, you will make less than poverty level and social security. This from holding rates down and taking too much percentage on the brokerage side.
People believe supply and demand so why is it demand drops in a democratic administration and demand rises in a republican administration. Have you not seen the videos on this channel how brokerages are taking 30 to 50 percentages on loads? That's highway robbery and stealing the fruits of our labor!
@DavidTrucker-lo4bs mine is paid off and I'm barely making it. I'm leased on, so meat loads pay decent, but these spot market return load rates are killing me.
Let me save everybody 25 minutes of watching this video. The answer is no. BTW, I love your videos. Now with that said, and you're still looking to buy a truck and do it anyways, I would wait 3-6 months towards the end of the year and the beginning of the next. Owners will be looking to get out, and the prices of equipment will go back down below what they were before this president took office. This, by the way, is what I'm doing, because I'm looking to take advantage of those people who overpaid for their equipment, and now want out. I'll be looking forward to picking another rig, and maybe another flatbed.
No it’s not. It’s called the free market. Nothing has been simpler than the current situation. People are willing to move trucks for 1.50 and so they post for that said amount.
@@truckerjoe3008 whatever you say 🤷🏽♂️. I saw brokers were a problem 3 months into the industry and I got my own freight and never need a broker or load broad. It’s ridiculous how they get to control the rates, but ALL carriers need to have back bone if they are going to work with brokers. It’s NO WAY rates should EVER drop under $2.50 per mile.
have my MC and DoT number. But I really don't know about the businessthat well . Who should I least onto so I can get knowledge about the business questi?
Don’t do it in Canada ! You’ll pay to much taxes , regulations, permits , fuel . Carbon tax , gst , repairs .. I run my own truck in the oil field and I’ve rarely take a wage ! I just work to keep my company open and I keep hoping something will change .
I wanted to get a semi and haul for the shipyard. Why is no one on here mentioning shipyards and those carriers or am I missing something? Is that a good contract for owner operator?
Its actually pretty sad. Look at who is actually getting into trucks right now. As a sophomore in trucking bren out here 9 years. I firmly say absolutely do not get into truckin now or in the future. Most of us are reitring, flat put quitting, and trying to find new career paths to start on. It is not going to get better any time soon and things that are about to change are not about to be for the greater good. Trucking is a game of monopoly for the big greed holders. The days of the american dream are dead and they are putting the last few nails in the coffin that is the american way of dreaming. Trucking is the flagship of a poor man achieving the impossible and making it big. Well guess what. You kill that flicker of hope and taking down the rest is a cake walk. Dont waste your time. Even if you own your rig outright. If you have no contract, not willing to lease on and deal with a monopoly company. No matter how good you are. In the long run you will either end of dropping out due to health reasons physical and mental. Or they will squeeze you so hard you will just give up. Thats the real reason rates keep dropping on the spot market. Get real people. If they can pay company drivers 2,000 or more dollars a week. Yall really think its a coincidence that rates are perfectly low to where a owner operator can only clear the same wage as a compant driver after paying for everything. Put 2 and 2 together people. Recession is a cover up. The damn plan is obvious. Monopolize the industry same as they did with farming and manufacturing. Control it all. Always greed & control. They kust have finally deceided to be activelt aggressive instead of passively aggressive about destroying the common citizens hopes and dreams and basically taling away freedom of life and liberty. Think about it folks. Come on now
