In this video I break down RV Transport pay over one week of short loads. Can you make a profit? Can you make money doing this? Follow along and I'll tell you how much money I made.
Awesome video! Our take home percentage is close to the same. Curious to hear more about the delete. I got my eye on a few options. I’d like to have a few more. Thanks for posting.
Congrats on your thousand subscribers good video great content I've been crunching numbers about to start getting my truck ready fuel prices though have been having me drag my feet a little bit, you're exactly right like I've been told it's all in your debt how much do you owe what it takes to live a month but yes there's definitely money to be made if you're efficient
@@TravelinTim well the numbers I've been crunching I'm using older rates $1.70 to $1.80 West Coast taking 15% out 5% taxes 10% maintenance basing everything off of what I'm making now which I'm not doing bad but I'm getting too old for this crap LOL for the most part I am the only breadwinner I have listed all what it takes to live a month normally my wife is working right now though but we're planning to go as a team we'll be able to get the extra 3 hours when she's not doing driveways West Coast runs 3 and 1/2 days out 3 and 1/2 days back so you're looking at about a week to 8 days at a net 1500 to 2,000 after all expenses fuel taxes maintenance in a week if she's on a driveway that dollar amount will increase because it will cover all fuel the bumper pull or fifth wheel will be 100% profit minus taxes and maintenance of course the key is like I said being efficient kids are grown not a ton of debt it seems very doable
And it really helps that I live here in Northwest Indiana so I'm really only an hour outside of Goshen it's not like coming from Texas Missouri or Tennessee to come get a load and Goshen and while crunching the numbers at Old rates I'm using current fuel roughly 479 a gallon to 525 a gallon if my wife and I can't make it on 4500 to $6,000 a month we are way over our head to begin with so definitely a doable situation even on the slow month of $3,500 to 4,000 of net should be easy to cover our monthly expenses and then some so I would always advise whoever is going to get into it like I am take everything seriously account for everything if not you will set yourself up for failure all we have are normal debt
@@TravelinTim that's why I feel like I'm on the right track you got to have a level head or you will definitely set yourself up for failure I've got a 2015 ram 2500 4x4 with the 8-ft bed and with only 90,000 miles 6.7 Cummins, 56 years old not afraid to be away from home so definitely time to slow down see this great country of ours and let them pay us LOL I like the 2500 over the 3500 lower gvwr which allows you more room for higher gvwr to pull but I agree also too many people look at the dollar amount in total and don't think of expenses thinking 100% profit that isn't how this business works not to mention you better have a good CPA come tax time if you're logging there and back empty or not actually is a good thing come tax time if you go for 51 cents a mile deduction instead of depreciation so I feel I'm on the right track and for sure we will definitely be seeing you out on the road safe travels and keep pumping out good content once we get going we'll probably be putting content out of our own outlaw style LOL
@@TravelinTim No prob lol I have my CDL A. I live just west of Columbus Ohio and about to get a truck soon. Was really looking into this. Just trying to find videos to learn what I need to get In line.
This is great content thanks. Would be interesting to see the total mileage you drive while out on series of jobs (Loaded + Unloaded) then a breakdown of income, expenses and profit expressed as a factor of mileage. I think that's probably the most accurate metric. Income and Profit per total mileage. It's costing you money to travel unloaded so should factor it. This will allow you to "model" trips in advance based on a standard metric to know if they meet your profitability threshold before you accept a load.
Have to factor in truck payment (or replacement fund) and insurance. Those two were killer for me. Being retired, it turned into a full time job. Maybe I will come back with a different truck. Great content, Thanks Tim!
I do and did factor that in. Those come out of the 15-20% of gross savings. But everyone will have different payments and insurance costs. What my cost is is irrelevant. Some people also have to factor in hotel costs, DEF costs, eating at restaurants and stuff like that.
You are doing it wrong. Business 101. Depreciation is for assets. The truck is not an asset. It is a consumable. Your business model should show the truck worth zero at the end of its use. If it can be sold for anything then that is just a small bonus.
I really enjoyed your video.... I hope to do this once I retire! I tried to go through most of the 181 comments (there's some snarky ones, it's a shame!)... I saw a question on insurance. I know how you allocate money for insurance, but can you tell me what kind of insurance you have and approx what your premium is? I assume it's special commercial insurance to cover the trailer and the fact that you are running up and down the road all the time. I have subscribed, I look forward to learning from you!
Thanks again for sharing your knowledge with others. Could you please share what town you delivered those loads? Would love to make those runs. I’m with another company so hope we have loads going in that direction. Thanks again
I am running all I can. Still running good profit. The money is there but you give up home time. You HAVE to run it as a business. Not a hobby or side hustle. Businesses cost money to run. Even WalMart doesn't get to keep every of their gross.
I've watched a couple other youtubers on this subject. Seems everyone talks about fuel, food, and lodging. How about truck payments, maintenance, repairs, insurance, licensing, etc.? I think it's a good way to go broke slowly at best. But good luck to you.
Those are good points but not the point of this video. This is about short runs. This isn’t a video about every aspect of the job. But to your points, this video actually covers those things. I don’t have a lodging cost because I don’t stay in hotels. But even if you did, they are tax deductible. I put 20% of my gross in a separate account. That covers ALL of the things you mentioned, which i say in the video. Whatever doesn’t get used in that account for the month stays in the account as savings. Those costs will be different for everyone. Truck payments can be all over the place. Your truck payment will be different than mine. Same with insurance. I do my own maintenance and repairs so it’s cheaper. If you have to go to the dealer to get an air filter put in then it will cost you more. Licensing is a non issue, it doesn’t matter if I flip burgers or do this, still have to have a license. It has to be run as a business, NOT a job. You have to contrail and track operating costs. In general, the first week of the month covers all my fixed operating costs for the month.
Do know how much it coats to run your rig per mile? gasoline aside. Routine maintenance like oil and filters, insurance, mortgage payments depreciation.
Tim great video. My son is going into the independent transport bussiness do you have any Tips for start up? Also do rv transporters need DOT#'s? Insurance is also a difficult situation any special brokers to buy insurance
If you add the savings back into your net. That means you are making $3114.00 for 6 days which comes out to $519.00 a day and if you don't it is $414.00 a day. That is fantastic! If you don't mind could you share your mpg empty and loaded? Thanks for sharing you knowledge.
I’m confused( if you don’t believe me ask my wife!). If you average 12.3 loaded and did 2085 miles you used 169 gallons loaded and at 5.00 a gallon it comes to $847.50. What am I missing? Thanks
Good video. The only thing I’d do differently is remove your ‘savings’ amount (600 and change) from your costs. That’s not a ‘cost’. That’s what you’re choosing to set aside. Don’t get me wrong….you’re smart as Hell for DOING that…..but it’s not a cost (expense). So you’re likely over the 60% threshold. Looks like you did pretty well in keeping down costs though. Kudos.
Most transporter's put 15% into a savings type of account for maintenance or breakdowns. This prevents them from going out of business if something happens and they don't have money set aside. Also, this money can be used to cover any owed taxes at year's end.
@@Currency49495 My point was to remove it from the “costs” ledger. Everyone SHOULD set some aside for that stuff…..but it’s not a cost…..which is what you absolutely need just to keep running. Like keeping the fuel tank(s) filled…….tolls….permits…..stuff like that. “Costs” aren’t negotiable. Setting aside savings (again….everyone should do it) is negotiable.
Hi Tim I need a 5th wheel camper delivered from Ohio to the outer banks this October on the 24 th would you be interested or do you know anyone that would be.
Nice content and good work. I do have a question no rv transport drive ever answers. What percentage do you put away for taxes? And do you have an accountant? Thanks Rodger
Everyone's tax situation is different. I have never had to pay because of all of the deductions for the work and my personal deductions. I have a tax person that is experienced in trucking expenses.
Been trucking for 50+ years and my opinion, but if your happy with your numbers great From my numbers $3.00 a loaded mile is break even with the dead head miles Sleeping in truck, eating out of the truck 👎👎. But that’s just me. Good Luck
Tim, I've been binge watching your videos all weekend to catch up to where you are now but I have some questions. 1. I'm thinking about starting into the business but I'm thinking about buying a used truck to start how old can the truck be? Sorry it's so long I'll save my next question for your next video.
@@TravelinTim OK question 2. When you pick up a load do you have to turn and burn or can you take it easy? (And yes I heard eagles singing in my head when I asked)
@@TravelinTim question 4. How does your external fuel tank work? I know that it is gravity feed but do you leave the ball valve open or just open it to fill your fuel tank?
Great content. Did you include the deadhead miles from the dropoff site back to the pickup site in your total 2085 miles? If not, then the revenue per mile will be $1.015., could you please clarify this? This is a question many of your followers have
Stupid question, where was the short runs to. I live outside of Cincinnati and thinking about doing short runs on the weekends before going full time into it.
How much difference is there in fuel mileage pulling a fifth wheel over a bumper pull if they were relatively the same floor plans. I’m thinking there would be a lot more wind drag with the taller fifth wheel but at 65MPH is there that big of a difference.
@@TravelinTim wow I thought it would be the same or worse for the fifth wheel not better. Looking at getting an rv and was just curious about the fuel mileage difference between the two. Thanks!
You forgot to subtract your maintenance cost including insurance, registration and so on. For a truck your size I'm assuming it would probably be around 10 cents a mile which on a 2000 mile run would be an extra $200 in the expense column...ouch!!
@@TravelinTim Thank you for your help. I am a Cuban-American who has been following you for a month but I am always eager to learn even though I live in Miami. I am willing to look for loads for the north and try to get into that business.
I have tried to do the expediting in the vans. So have a grasp on costs. On your cost summery the only thing your not saying anything about is your insurance costs your overall cost of depreciation you will have to take on your truck.
You are thinking about it wrong. The truck is not an asset that you depreciate. It is a consumable that you use up. My business model calculates the truck as being worth nothing when I'm done with it. If I sell it for something then it's just a bonus. I also do calculate my insurance cost in there, as I said in the video it comes out of my 20%. My insurance cost is going to be different than your insurance cost so it doesn't do any good to give you my numbers because they will mean nothing to you calculating Your numbers.
I think there are a few things left out in your calculations; insurance, maintenance costs and hourly wage breakdown....your time should be worth something too.
Most companies pay out to a EFS or COMMDATA card. You can transfer that to your bank or just use the card. I get paid with direct deposit to a bank account I set up.
@@TravelinTim thanks getting details from the website I believe from Indiana and deliver all over United States. Nevertheless will only do deliveries in California until I feel stable to go out of state.
@@TravelinTim I was reading the requirements what kind of test do they make you take. Furthermore new as a driver and need training before the test. (wave express)
@TravelinTim awesome thank you so much! Also I enjoy all the information you give out and tips on your videos I'm looking at becoming a rv transporter myself just need a newer truck is all.
There is no depreciation. You should not be factoring the truck as an asset. It is a consumable. Empty miles are factored in. I factored all fuel used. Insurance and maintenance comes out of the 15%. Did you not listen to the whole video?
Tim been watching you for a long time and a question I always had is doing a delete what effect does that have on your DOT inspection(annually)? It maybe different as far as state inspection, I live in Florida.
Good to know thought about it since another of transporters mention it. Florida does not do emissions tests anymore. Just can't sell the truck outside of Florida or a big fine comes your way.
So, what would consist of savings? Taxes, maintenance, insurance? We are just starting out part time. Husband works in rv plant and lots of time off the past year. We are only on 3rd load and I'm still trying to learn the math. Only we get 1.65 mile just starting out.
@@bestillandlearn I lump it all together. Savings isn’t the best word but it includes emergency money, maintenance, truck payment, insurance, plates…all the costs involved that can’t be calculated per mile.
@@TravelinTim so far with my figures we have been in the hole with my figures but cpa says it ends up working out claiming miles and per diem. I've asked the cpa to show me an example starting with load pay and per diem and what it looks like figuring mileage into that as well. How much do you subtract per mile for your "savings"
@@bestillandlearn I do 10-20% of gross of each load. Depends on what the per mile is for the load. Usually I take 15-20. Mileage and perdiem really add up if you are doing this full time. When tax time comes, I never pay taxes.
@@TravelinTim so in your opinion can you be profitable and still be home on a regular basis? I am really considering this as a full time career but my main concern is never being home if I want to make a good profit.
@@TravelinTim thanks for answering all my questions. I really appreciate it. I have 20 years experience driving tractor trailer 6 years OTR and the last 14 years local with one company. I think I am ready to make a career change to be in business for myself. I think I would rather do something like this than buy my own big rig though. Just trying to figure out if it would make financial sense for me to do it. I make really good money at my job now but I have to answer to a boss.
That comes out of the 15 or 20% that I put aside from each load. My truck cost are going to be different than your truck cost so the actual number is irrelevant.
These numbers are so wrong. You never deducted your insurance for the week. Your vehicle depreciation putting over 4 thousand miles on in a week. 25% of oil filter and fuel filter changes. Percentage of tire wear and tear. No money in hauling RV’s. I can’t believe they expect you to drive for free on the return trip. You guys are not calculating after 2 years your truck is worth nothing !
No I didn't break every individual thing down. All of that is going to be different between me and you. I did say how much I put in the truck account. I also said that all of those expenses come out of that truck account and any surplus just stays in that account and rolls over as savings. You don't factor depreciation because the truck is a consumable commodity. Consumables are in the business plan. I also didn't talk about tax deductions. That's part of the business plan also. There is plenty of money in this if you know how to run a business. You don't just get a paycheck and put it in the bank. It's a business. I'll be picking up a brand new truck in about six weeks and I owe less than this truck is worth on trade-in with 335,000 miles on it.
@@jimgraves6464 yes I am. Truck payment and maintenance comes out of the 20%. There is no need to do anything with truck replacement. If you had replacement money then you wouldn't have a payment. Everything left over goes in the home bank account...that's my pay. How am I not paying myself?
@@TravelinTim $820 in fuel divided by roughly $5 a gallon, travelling yesterday cheapest was 5.19 highest was 5.73 without discount. Do you know a place for 2.50 or something. 4170 miles for $820 ? 2 years ago maybe. Pre-Brandon days.
@@TravelinTim thank you for the response, I’m thinking about jumping into the game so I can pay off my debts while driving. I already have the truck but no cdl. What would you tell your son if he said the same thing?
@@mrdavis2928 yes the expenses are definitely lower than a semi. Currently I am running between 60 and 65% net profit. But I believe that they per mile rate is lower than a semi so Your overall gross will be lower doing this. A huge benefit is not having the stress of a summer. When I am unloaded I can go and see the world. Parking with a camper or a boat is much easier than a semi also
You didn't subtract, truck payment, Commercial insurance, gate fee's on each trailer, and tax on every dollar your truck makes... if your going to report what your truck makes you! Tell the Whole truth
Good day, this is not net profit. It is GROSS REVENU after expenses BUT befoe income taxes AND truck payment, insurance, etc. In a month you have about 10 000$ or 5 000$ after taxes. If you have any breakdown you will be bankrupt. I am in the business and we do the same math and we are scared,
I don't understand what you mean. Profit is only what you keep. I consistently run 60% or higher net profit. So how much profit I make is going to depend on what my gross is.
