How we can get out of it bro??? Tell us something. We are hella frustrated and driver still ne .55 to .60 CPM. We aren't not making money. Running trucks and paying from our pockets
I understand the frustration brother but there are only three things you can do right now if you’re taking loads from load boards. 1) Run a more lean company (focus on decreasing expenses rather than increasing revenue). 2) Focus on contracting loads with small-mid size shippers in your area. 3) Lease on your trucks to a larger carrier that has a 100% fuel pass through surcharge rate and has contracts with shippers. Trucking industry is very volatile so when rates are good, grow as quickly as you can and save as much as you can. When rates are bad, cut down on expenses wherever possible and run ANY route that is profitable. I’m going to be releasing a lot more videos helping truckers out through this tough time. Don’t quit brother keep going!
I don't think it's just that, this is my opinion but the loads a low nationwide. That's it, however, people need to do something, need to bring money home to momma and babies so the loads are not paying good but it's better than starving! If you got into business right low overhead you can take cheap freight and at least keep the lights on until a better time. I think Gil did a great job of breaking it down and I agree with him 100%. And some people have no other choice but to stay in business and take cheap loads. I get mad sometimes but I have to stop myself and realize everybody has situations I know of and they have to do what works for them.
We are facing exact same problem in Europe. Everyone thought transporting business would make them reach during pandemics. Now we have tons of unexperienced trucking companies dumping prices PLUS a recession. The strongest will survive. Thanks for your videos :)
I'm 1 of those new owner operators 1 box truck 1 driver OTR I failed but learned a lot Shutdown my business and got my CDL CLASS A and I'm making more money as a dump truck driver for someone else with no headache of ownership 30 $ per hour 12 hour days mon -Fri and home everyday Running a business is NOT for everyone I think you explained this well
You’re very self aware to figure that out sooner rather than later. Many people try to start a business because it seems like the “cool” thing to do and they don’t realize how much knowledge and skills you need before you even consider jumping in. Oh well i’m sure you learned a bunch of lessons during your time and now you have a pretty fun, high paying job!
It all depends who you make business, he is talking about people that do work with brokers and we know that there are 2 o more people that get money from the same load and by the time it gets to the owner operator the price is cheap! Brokers are making tons of money!!!
Brokers are losing business too! Tender rejection rates are very very low which means less loads going to brokers. Shippers aren’t willing to pay a lot of money right now either so the brokers are getting screwed too.
I just paid my truck off last week I mean talk about just in the nick of time because right now I am making almost no money. My debt is very low so I'm just getting by compared to what I made in 2020 during the pandemic.... so many loads so much money I cracked $200,000 and didn't even work for 3 months.
I encourage everyone to be their own dispatch, owner operator, and your own factoring company, easiest way to address this situation, also maybe cut some unnecessary expenses and make some calls so you find the best rates from a good decent and constant broker. Some of these people make videos like this so they scare people to get into the trucking business so shortage of rate won't happen, sad but truth lol
I’m just reporting the news and explaining what’s going on in the trucking industry. If you’ve seen any of my other videos, I’m the one encouraging people to join the trucking industry with realistic expectations and providing them with free templates and actionable knowledge that took me 6-7 years to learn. Also, I 100% agree that people should learn every aspect of their business and try to run as lean as possible before expanding. Instead of increasing top line revenue, spend some time thinking of ways to decrease fixed/variable expenses.
I’m currently doing all of this and it still not enough, its not about scaring people its about the facts that its not giving money as it used too and fuel is skyrocket. This business sucks right now but no other option than to keep going and hope it gets better😭
@@nicolevillalobo5391by your profile pic you might be living an expensive life. I suggest you live more humble and i assure your money will start increasing 👌
That figure is from a study conducted by Truckstop. I thought it was ridiculously high too but I believe that number includes the “unrealized” inflationary effects on all costs as well.
@@Gill22 sounds like Truckstop needs to have another study for the actual cost of operating. It’s still quite possible to turn a profit for under $2/mile. Granted the driver isn’t bringing home the lottery winnings like last year, but it’s still reasonable to pay the bills. Heck, I’m making 2 truck payments off of 1 truck currently and still feeding the family. It’s not easy, but it’s possible.
All i get from youtube are mixed signals. Guys having their “best week ever” while others are saying this. So what is it? Is there a driver shortage? Is there a recession? Isnt there all this backed up freight? Are truck prices really falling due to the glut of trucks being sold by people who misjudged the market?
The simplest way to figure out who’s telling the truth and who’s lying is by just looking at the data (and more importantly who’s providing the data). In this video alone, I show numerous graphs, charts, and articles that explain how the spot market is suffering in the trucking industry. My company doesn’t operate much off the spot market since we’re a little bigger than the average trucker watching this video however, I can still feel the effects. I like to think the reason people watch my videos is because people trust my expertise, they know i’ll tell them the truth, and i’ll give them actionable advice on how to solve problems. I would be shocked to see anyone claiming they’re making tons of money in trucking right now and would question their motives for doing so 😅
@@Gill22 thanks for replying. I do have a serious follow-up. Is between $2.25 and $2.75 not good for an OO? Im looking at that and the average cost per mile and thinking thats pretty good on an average 3000 mile week. Im sure the old timers would disagree. Seems like with almost every profession the good salaries died out with our grandparents. Example. Pilots back in the day made $300k/ year. Now captains with experience are lucky to top out at $150k. And thats at the end of their careers.
I have your Solution Sell that Truck and get the hell out I DID . in the next few months trucks will be cheep cheep you can buy them cheep I have already noticed they are coming down.
why cost per mile is $3+, I tryed your cpm calculator, with 16k miles/mo and 7mpg it shows $1.98 with: drivers 80cpm, 1500 for insurance and 5500/mo for rest costs together. Where am i wrong?
@@Gill22 that's, as i suppose, is included in 5500/mo as repairs for old and owned truck or payments + maintenance for leased/financed of 0.2cpm. Also when I worked in a small MC company, insurance was $2000, but adding o/o was like $100 /mo additional.
@@gonzalezhose6808 Hmm that’s interesting. Your CPM of $1.98 looks reasonable to me, but including driver pay of $0.80/mile seems like your CPM should be much higher.
@@Gill22 it is already included, also there's a possibility to not run the office, just need remote dispatcher and accountant which is also pretty cheap for a trucking company event if it is 2-3 trucks there
Yep things are definitely getting better. Now we just need to wait for diesel prices to level. Hopefully the Iran sanctions being lifted will cool prices.
@@Gill22 Did not know about the Iran sanctions, we are very happy with fuel prices right now filling up for 4.20-4-60 if we go below that itll start to feel like 2020-2021 again!
@@snipemagazine1286 Haha yeah we're not going to see those days for the forseeable future. Regardless, the time has come to grow and expand your company as much as possible and get some contract rates! I might have to make a video showing how I get direct shipper loads what do you think?
