Making $36/hr dnt do nothing these days..ive been thinking about doing hotshot and watching your videos have gave me the confidence to start working towards a different goal in life..keep it up bro, ur definitely informative 💯💪
You could have gotten a full nights rest and This video could have been 10 seconds long by saying…. The higher the payment per mile = higher the profit! 😂
Nice chart. Do you see any future using an electric cybertruck in Hotshot? Or are they too puny? They have up to 3 or 4 wheel driven motors. Edit: I would start Hotshotting, Lord knows I need the money, but, am 70 and worried about tieing down the loads properly.
I’m in the wait list and I will be using it for hotshot 100% I got on wait list in feb 2022 so we shall see. Might have to take the bed off 😂 but if I have to I will
@@Babylionhotshotjust saw the CT will have 14k towing with 3500lbs of payload, I was thinking last night my 2022 DUALLY CPM is not where I need to be given all the maintenance and oil change every 7k miles and transmission change every 35k miles, this has helped me get better MPG plus prevention on breaking down, not sure what else we can do to drive our CPM rate down lower
I left truck driving after 12 years. Great money, not worth it. My job got the best of me, everyone else got the rest of me. Money comes and goes. Time, well time is something you can’t get back once it’s gone. Good luck to you sir.
The initial question you asked has multiple correct answers I believe. There are a lot of variables in which everyone will have different answers for. If we are looking purely at the numbers, the 2.50 at 1500 miles is more desirable in my opinion because the further you drive, the lower your CPM goes down due to fixed cost such as insurance and vehicle payments being covered. The lower your CPM is, the more profit on the table at the end. If you factor in cost of time, loading and unloading times, and actual available drive time, your answer will lean more towards the 1000 miles at 3.00 a mile. Example Weekly Truck payment = 250 Weekly Insurance payment = 500 Other fixed cost = 100 Fuel = Dollar a mile Maintance = .05 a mile At 1000 miles your cost per mile is 250+500+100+1000+50=1900/1000miles = 1.90 CPM At 1500 miles your cost per mile is 250+500+100+1500+.75=2425/1500miles = 1.62 CPM If you drive 1000 miles at 3.00 a mile with CPM being 1.90, you profit 1100. If you drive 1500 miles at 2.50 a mile with an average CPM of 1.60, your profit is 1350. The CPM will decrease because your fixed cost are covered with higher revenue. The true deciding factor is if youre willing and capable of driving an extra 500 miles for 250 dollars. To some drivers it would make sense and to others it would not. Depends on the drivers own numbers and expectations.
I didn’t even have to read after the first paragraph, but I did anyways because you put the time in to make an argument. Very thought out and very real point. If so one reads this comment i want to be the first to say there is merit. Trucking has so many variables it’s not just all numbers. Bottom line is drive lots of miles for the best rate per mile but most of all keep track of every number and statistic you can about your trucking company so you can analyze and adapt. Good point sir!
I would take the fixed cost and break them down to weekly or even daily instead of per mile then you could still calculate them in but more accurately. The cost are there even when you are sitting at home . Great videos I have more to watch 👍
Thanks west side performance. Of course I can’t cover every scenario and numbers are just a large part of Trucking but not the whole picture. Time plays a big part too. Thanks again
Thanks I’m trying to put stuff out into the world that I see is important in the industry to understand. Some things are harder so explain then others but over time I’ll hopefully get better. Thanks for the love man
The numbers are great and you should focus on the numbers but the remaining variables are how many miles can you realistically drive in a day with loading and unloading and how can you make the miles per load best fit into your weekly 70 hour clock. A good or bad load doesn't make or break you. The key is to pick loads based on revenue but also how each load fits into your 70 week, week after week. Daily revenue is the ying to the yang rate per mile.
Great info. I'm curious about your cpm. It seems a little high. I made charts for a bunch of different yearly mileage totals and calculated my cpm based on each mileage total. What is your target yearly miles that you calculate your cpm? When I started I had new equipment and my cpm was roughly about 1.08 based on 100,000 yearly miles. Obviously if I drive more miles loaded that cpm goes down. Wondering what is pushing your costs so high? Is your insurance is high? My insurance is about $10k a year. Or are you factoring in depreciation on your truck and trailer in your cpm? With newer equipment I am budgeting about .10 cpm for repairs and .08 cpm for maintenance. Sorry I am kinda rambling. Yes, the numbers of business are crucial
I’m going to make a video. Probably the third video from now. I already made a paper on in I used for myself. I’ll share that in the video and in description so people can find out theres
@@Babylionhotshot awesome I'd love to see the setup for reference. I’m 20 and going to be getting my cdl to drive with a company and the plan is to buy a cdl hotshot setup after a couple years and go out on my own. There's not many people that talk about how they made their setups comfortable to sleep in
I don't really want you to pay me just for that. Instead the whole course as a package is a great deal for Some one that needs to know the whole process and the exact steps to get started......... But the best way I can explain how to not pay taxes on a truck is to become a motor carrier. (or a government entity, Church, or Charitable organization). I hope that helps. Thanks for the question Caryrains
Awesome info Stuart hope ur doing well and squeezing the juice out of that trailer, basicly how I run but most of the time I grab a partial load that covers fuel expense for that week and the rest is cashing/cashing but you have to be on top of ur game and putting a fight with this brokers every day so staying focus on making decisions on loads you picked and make the most profit out of ur route has been 🗝️ for me making steady numbers running OTR be safe my friend and if u can make video on preping for the winter time would be nice hope to see u on the road some day 🤑😎🇵🇷💪
Great idea Alfonso! Nice to hear from you/ see your comment. I try my best to get to as many as possible. But you are so right, it’s a fight all the time to negotiate with brokers and let them know they are killing me. I honestly think that it’s not worth the extra phone call for them to explain what the load is even if they can make an extra 100 or two so you know they are rolling in the dough. You stay safe out there too. Focus and safety are number one.
I can't go thru all your vids, jumped here from one 6 months ago about how much you make. None of this matters. What matters is the bottom line, NET income after ALL expenses. Are you a recruiter? You should be .
Would it be worth it (for passive income) to start a business and get an MC number just to lease on drivers for the 25-30%? Seems like alot of new drivers are leasing to start. I'm a CDL holder but work in aerospace and looking for supplemental income that could eventually grow into more of a full time roll once the business is self sustainable
Ok as a 15 yr aspiring owner operator for hot shots or trucks. Is it too late to get into the trucking industry I’ve been doing a lot of research myself and a lot of people are going out of business
There is almost no dedicated loads on the load board that pay dedicated rates you are right about that. But if I partial it’s decent money. But ya it’s looking like I need a semi. It’s just expensive I need to save up
Hot shot is aging you bro sell your set up and get you a real class A license get into fed ex or ups driving the doubles and triples …you’ll be home daily you’ll have zero expenses, medical insurance paid vacations and you’ll be bringing home a little under two grand after taxes you hotshot dudes are killing yourself for Nickels and dimes…t the end of the day every week after diesel and Eiter your truck payment of insurance or trailer payment your left with 2k maxxx but after being away from loved ones all week , lower back pain showering at truck stops not being able to sleep on an actual bed, dealing with maintenance is whack it’s not worth the extra 400 dollars you make for being an owner operator
@@AacaL05he’s working for the brokers he’s working to pay that truck and trailer owner operator means more work I’m a a hot shot driver and the ups and fed ex cdl drivers are making the same as this dude with out the expenses and stress of compliance
I mean you aren’t wrong about being away from loved ones, honestly that’s the hardest part. I do think it’s aging me once again right about that. But I do believe in the potential of keep growing the business. Weather that be adding drivers, getting my brokerage up and running or a couple other ideas. You do have valid points and obviously have experience and I respect that but I’m in too deep, I think I’m going to the grave with this one
And on top of it being a trash company job you get stock at the depot with other drivers waiting on them to cut your trailers, you don’t get any extra money for that, and the equipment is terrible. Anyone pushing being a company driver is out of their mind, you’re a fixed cost as a company driver, I can double FedEx money with my hotshot business monthly easy
If you don’t watch your number like a hawk and partial out your trailer its impossible to make money. It’s tough and you have to fight. Do you have your own MC, truck and trailer and CDL?
Just my IPhone right now. The iPhone camera is as good as I need for right now. Soon I’m going to get my drone fixed and back working so I can get some Ariel shots. I think they would look sick at all the places I go to pick stuff up
That’s a good question. So I google a quick search and I found in GA you are restricted to the state. Under 21. I’d check in your state though. I honestly need to do a video on that. I hope I can do that soon. Great question!
I’ll make a video but just to give you so answer here. Fuel is 4.50 most places right now. I get 8 miles to the gallon. 4.50/8mpg= .56 cents off the rip. I have a $120k set up that I want paid off by 200k miles. So that’s another .60 cents. Plus $2,200 a month for insurance. This is not including DEF, Oil changes, tires, equipment like starts and corner protectors, ELD subscription, load board subscription, tolls, and probably some other stuff I missed, o ya if anything breaks which is inevitable. O ya and 3-4% for factoring.
I suppose you do include your overhead. Thanks for sharing with us. I’m hopefully a month or so out from starting my trucking company named Great white trucking and I’ve been trying to figure out financing projections so what you posted will help a lot!
@Babylionhotshot I can't remember do you have an auxiliary tank? Those things would pay for themselves rather quickly when you can find gas that's a dollar cheaper and then be able to drive 1000 miles until you find more affordable gas instead of being stuck always having to pay crazy ass prices! I know the spread here in Tennessee between the highest place and lowest is 1 dollar if your going 1k miles and getting 10 miles a gallon you can save yourself 100 bucks. I'm 100 percent positive you have a tank or already thought of this I just don't remember seeing the tank
