First post, lots of questions

[OhioStomper]

Hey everyone. I have been reading posts here for a few weeks and I am left with mixed feelings about trying expediting. Let me first tell you about me. I live in southern Ohio, 1.5 hours east of Cincinnati, 1.5 hours south of Columbus. I am 28, have had a class A cdl for 6 years or so. I am new to expediting, but not to trucking. I have grown up with the industry my whole life. I owned a construction company where I primarily drove a straight dump truck with a 38k gvw hauling gravel, dirt, and moving my other equipment around. I do have experience in TT as my father is an ORT owner operator/small fleet owner. Mainly I just tagged along with him if he had a long trip to make to help him out, but I have taken a load for him alone on occasion. For the last 3 years I have been going to college to become a teacher. In that time I have accumulated 15,000 in student loans, and have another 15,000 to go. My wife has a pretty good job, but it is tough with her being the only one making money.
I plan on going trucking for a few years to pay off student loans and build a little nest egg so we can cruise a little easier for my last 2 years of school.
Question time...
I get excited about the prospects of expediting when I read the companies recruiting pages. When I read on here though, I get the impression that a solo o/o can't make any money at it. Realistically, what kind of money can a person make? I realize the industry fluctuates, but what is normal? What kind of mileage can one expect to get with a straight truck? Living in southern Ohio, how often could I get home? I wouldn't mind staying out through the week, but the wife says weekends are to be spent at home or nearby where she could go along. Possible?
The two companies I am most interested in are Panther II and PTL. Both have had recruiters contact me, and both have impressed me. Any opinions of these companies?
I plan to purchase a truck in the next few weeks. I have two options... Go expediting, buy a straight truck -or- buy an OTR tractor and go to work for my dad. He has offered me a dedicated run from Ashland, KY to Toledo, OH that would pay the truck around $2500 for three rounds per week (around 1650 miles). The reason I am even considering something different is that I would need a trailer, and the loads are huge steel coils (60-65k #) which I'm not crazy about hauling. After all is said and done, I figure to clear about 1300 per week. How close can a hardworking expediter get to that figure?
This is already a huge post, so I am going to cut it off here. I already have my tickets to the truck show in Louisville and I am looking forward to talking to the recruiters and drivers there. Any suggestions on what I should be asking them? I am looking forward to hearing from any of you. My email is [email protected], so if you want to share your opinions in private I would love that as well. Any help is greatly appreciated as I make this huge decision. Thanks drivers.

 

[ATeam]

Based on what you wrote, stay out of expediting. If your wife wants you home or nearby every weekend, you're doomed from the start.

On the other hand, if she is willing to join you on the road, your income potential as a driving team improves. I'm assuming you have no children as you did not mention that.

I know a young, married-couple team who also went to school to become teachers, but their school of choice went broke before they graduated, leaving them wondering what to do next. Somehow, they found their way into expediting and are now working hard together to achieve some agressive financial goals. They have a business plan and plan to become millionaires while they are still relatively young and then start their family. So far, so good for these two. Based on what I know of them, I believe they will make it.

If you wish, I can put you in touch with them. Contact me privately if you like.

 

[davekc]

It should be noted that only a small percentage achieve a millionaire status. The ones at that status now have in most cases made their money prior to all the current competition and costs.
Really any period prior to 2002
If your Dad is a fleet owner, he could explain this in great detail.
Research on recent posts and the archives will give you a better feel for income and lifestyle commitments.
I should suggest making yourself available for the Mid-America truck show. There you will get alot of information on expediting from a huge variety of sources.
Ok.....time to go buy my powerball ticket.




Davekc
owner
21 years
PantherII
EO moderator

 

[terryandrene]

Ohiostomper:

A very hard working one truck expediter can achieve a net of $1300, but he would not have much of a family life in so doing. You didn't mention children so I assume you have none and you didn't mention a desire by your wife to leave her job so I assume you'd be truckin' alone; that makes your goal of a $1300 weekly net a bit lofty.

We're pleased that you're exited about what you hear of our little niche of the transportation industry and your attendance at MATS will serve you well, particularly at the "Expedite Experience". We trust you won't develop any visions of reaching millionaire status during your visit to MATS or the Expedite Experience.

As a footnote to ATeam's comment about a young couple aspiring to become millionaire expediters. It's great to have a dream such as this, but the reality of of expediting precludes this from happening to all but a mere fraction of 1 percent of those we meet on the highways of America. A very active team, living in a truck, might be able to set aside monies in an aggressive portfolio to reach a million in a few years. A successful owner with a few trucks can do the same. However, the average CDL holder will burnout before netting that $million.

Best wishes getting that student loan albatross off your neck

Terry

 

[x06col]

I'd right away get the "TRY" outa your system. With that attitude you won't pull yourself up by the bootstraps. Probably be a disaster. A costly one. You'd better go Teach'in as soon as you can educate yourself another way.

 

[davekc]

As a footnote to ATeam's comment about a young couple aspiring to become millionaire expediters. It's great to have a dream such as this, but the reality of of expediting precludes this from happening to all but a mere fraction of 1 percent of those we meet on the highways of America. A very active team, living in a truck, might be able to set aside monies in an aggressive portfolio to reach a million in a few years. A successful owner with a few trucks can do the same. However, the average CDL holder will burnout before netting that $million
++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++
I think Terry's comments are right on target. Even if you gross a million in a year, that is far different than what you end up with.
I would highly recommend not jumping into expediting with a Amway mentality. As mentioned, the ones that do, usually wind up getting disappointed and burned.
















Davekc
owner
21 years
PantherII
EO moderator

 

[OhioStomper]

Thanks for the replies everyone. It seems that what I have heard I could potentially make was only smoke being blown up my rear. Just so you all know, I have no kids, but the wife isn't going to quit her job to go trucking. She makes good money, will have a good retirement, and the insurance is great. Plus, I really don't think you all would want to share the road with her behind the wheel of a truck. Honestly, my goal is to be out of debt and have enough money to finish paying for my education and bills while I finish school, not to get rich. If that means I'm not trying, then I guess I'm not. Would I complain if I became a millionare? No. However, I am being realistic. I need to clear around 60,000 by December 31, 2007, sooner = better. Every dime I make will go toward that goal. If I reach the goal early, I can get out of the truck early and get back to school sooner. I know what I can make hauling steel, sounds like the way to go. Thanks again.

 

[davekc]

Thanks for the replies everyone. It seems that what I have heard I could potentially make was only smoke being blown up my rear
=================================================
Being a millionaire from expediting would generally fall into your above described catagory. Your goal of $60,000 net prior to Dec 2007 is possible, but not realistic based on industry numbers for a solo.
Taking a local job to eliminate some of your student loan debt would be a wiser choice in your particular situation.







Davekc
owner
21 years
PantherII
EO moderator

 

[RichM]

OK Factual info not dreamed up stuff. On other topics A Team has indicated that he sold all of their possessions in order to be free of the mundane bill paying daily lifestyle in order to go expediting and see the world. This may be possible for a select few but must people considering entering this lifestyle have familes,and commitments that need to be considered before you sell the farm.
In my years as an expediter I have grossed over two million dollars but the key word is GROSS. Net is what matters.
Yes you can do the million but at what price? If you have children at home they need you,should your wife give up her job and benefits, NO.
So watch out for the rosy pictures and remember reality,when someone talks about income etc,divide by 2 and you will get a realastic picture.

 

[greg334]

Ok, I guess I am rather confused - your wife has a job, you have 15k in loans and you are buying a new truck? Something is wrong here.

I don’t want to sound insensitive but forget about what you hear and stick to what you know best to get you through college and then decide. I can not see the numbers working and to tell you the absolute truth – there is a lot of BS that you will put up with and even with a new truck you better have a good reserve.

As for staying out or have the wife tell you to come home, well let me put it this way what is more important – family time or making money – you decide. If it is the former, find another section of trucking to work in.

Now as for the expectations of making a million, come on … you have to be a JC Wiatt and devote your life to making a million, no kids, no special vacations, no nothing. I think that people who put a specific amount on a goal needs to exam their life.

 

[OhioStomper]

You aren't the only one confused. Where did the idea of making a million come from anyway? It sure wasn't from me. Also, not interested in buying a new truck. Something that makes the cut for the companies is perfect with me. I am only looking to make money, not be the pride of the highways. Something in the 25k range was what I figured. I appreciate the honesty you all have. It will save me a lot of grief. Heck, it may even save me a three hour trip to Louisville. No need even goin down there if there's not enough money in expediting.

 

[OhioStomper]

>>=================================================
>Being a millionaire from expediting would generally fall
>into your above described catagory. Your goal of $60,000 net
>prior to Dec 2007 is possible, but not realistic based on
>industry numbers for a solo.
>Taking a local job to eliminate some of your student loan
>debt would be a wiser choice in your particular situation.
>
>It would be awful hard to become a millionare making just over 30k per year wouldn't it? I honestly don't see how there can even be solo drivers in expediting if they are only taking home 30k per year.
>
>
>
>
>
>Davekc
>owner
>21 years
>PantherII
>EO moderator

 

[klippencott]

One more thing to consider that is non-trucking related. Don't stay out of college too long or some of your credits may not be accepted. I finished my engineering degree and a few years later I decided I wanted to go to pharmacy school, I had to take all my math and science classes again. The university said those subjects advance so quickly that I would have to retake them in order to keep up and they were right!

I guess it is trucking related. If you go out and buy a truck you will have to run it long enough to pay for it and still make enough money to pay off your student loans. You could get yourself into a few years of running the truck before you realized it.

Kathy

 

[davekc]

When other members seen a post on making millions in expediting, we all became confused as well.




Davekc
owner
21 years
PantherII
EO moderator

 

[davekc]

>It would be awful hard to become a millionare making just over 30k per year wouldn't it?


I think you answered your own question.





Davekc
owner
21 years
PantherII
EO moderator

 

[OhioStomper]

>One more thing to consider that is non-trucking related.
>Don't stay out of college too long or some of your credits
>may not be accepted. I finished my engineering degree and a
>few years later I decided I wanted to go to pharmacy school,
>I had to take all my math and science classes again. The
>university said those subjects advance so quickly that I
>would have to retake them in order to keep up and they were
>right!
>
>I guess it is trucking related. If you go out and buy a
>truck you will have to run it long enough to pay for it and
>still make enough money to pay off your student loans. You
>could get yourself into a few years of running the truck
>before you realized it.
>
>Kathy

Actually, I am looking right now into taking classes online so that I can continue with school while driving. History classes are all about reading anyway... may as well take a few while I am on the road huh?

 

[bryan]

Hi
I wish I could run three round per week for that kind of money.Sound like your dad is offering a pretty good deal.Loads for 48'flatbeds are plentiful. If he lets you trip lease a couple of loads between his dedicated loads that would cut down them student loans pretty quick.And you could still be home on the weekends.

 

[OhioStomper]

Ok, so just so I am perfectly clear and can begin looking for a tractor... $60,000 in 90 weeks = $667 per week clear if I busted my hump and stayed away from home. Am I understanding right?

 

[davekc]

With a tractor 667 per week clear is doable with the right company.
Again, I would drive for someone else. Unless you pay cash for your truck and close to it, plus 10,000 for reserves....drive for someone else. This is not a business to jump in to and be underfunded.





Davekc
owner
21 years
PantherII
EO moderator

 

[ACE]

Ohiostomper,

Working for your dad would have benefits that other companies could not match. You would know the owner, he would likely keep you busy.
He would most likely want you to succeed at attaining your objectives more than any other owner or company would.