fedexhatch
Seasoned Expediter
From talking to alot of you out there in driving land it seems like its very hard to make more then the min. wage. If that be the case why do it?
If you cant make a good living!
- Thread starter fedexhatch
- Start date
In this biz if your trying to figure pay into an hourly wage you will drive yourself insane. When you stay gone for two, three or even more weeks at a time that is a recipe for failure. This is not in any way shape or form a normal lifestyle or job. If you figure by the hour your not going to be happy. A person can do ok they just have to be realistic. I think for many freedom has a lot to do with it.
chefdennis
Veteran Expediter
What Xiggi said...... you sold cars, you managed salespeople....how many "mini deals" did the weak sales people have while the superstar had very few....BUT that weak guy collecting his mini's and whining about it came back each day figuring he was going to slam someone with a big gross deal..and thats what kept bring him in each day...the road is the same way....you get those small runs mixed in the the long runs that make it all worthwhile that lets you see the country and have the freedom to do has you want for the most part.....
Forget the income deal...i don't even look at each run on a regular basis, i try to work monthly and it all works out at the end of the time i spend on the road...sit down and work a business plan..no it isn't carved in stone or to be used for the banker,,but you will figire out what your "NUT" is and then you can set out working to get there....
Remember the guy that worked strictly on gross per unit...he knocked someones head off at 2 in the afternoon , then he left to go play golf, but at the end of the month he was broke....don't look at what you will make each week, a slow week can be covered the next week when you are busy , then the next week when you are dog tired because they ran you all over Gods creation......You will have bad weeks, but the good weeks will cover them, if you don't drive yourself insane wporrying about the bad week.....
Forget the income deal...i don't even look at each run on a regular basis, i try to work monthly and it all works out at the end of the time i spend on the road...sit down and work a business plan..no it isn't carved in stone or to be used for the banker,,but you will figire out what your "NUT" is and then you can set out working to get there....
Remember the guy that worked strictly on gross per unit...he knocked someones head off at 2 in the afternoon , then he left to go play golf, but at the end of the month he was broke....don't look at what you will make each week, a slow week can be covered the next week when you are busy , then the next week when you are dog tired because they ran you all over Gods creation......You will have bad weeks, but the good weeks will cover them, if you don't drive yourself insane wporrying about the bad week.....
nightcreacher
Veteran Expediter
You can't figure what you make by the hours you put in,in the trucking industry.If you were a farmer,you would only be making cents per hour,trucking is the same way,but you have a freedom that makes it worth while.Most of the owners in the truck load divisions,there actual profit,is they don't owe taxes a the end of year.Being a truck driver,is like nothing you can compare it too,you will either love it,or hate it
I have one thing to say about this I drove gen. frieght for awhile I got into expediting a year ago my wife and I found out if your commited to yourslef you will do fine and it's alot of fun out here. Enjoy yourself an have fun it's the best end of the freight biss. there is!!!!!!
RICH & IDA PARKER
PANTHER DRIVERS 06/08/09
RICH & IDA PARKER
PANTHER DRIVERS 06/08/09
You can make a reasonable living but not every week or day. This business is up and down for income worse than a rollercoaster. Last week if you want an hourly income I averaged near 18.50/hr. Going back a couple of weeks One week averaged out at over 20.50/hr. Now the week prior to that good one averaged at 7.23/hr. Now out of that hours money take all the expenses.
Not easy to figure by the hour all the time but I did work out a system for that where if I could do $25/hr while driving (all miles for a run, including dh), then it was profitable (in CV). Normally the runs work out that well. But this of course does not cover the hours spent being out ready for work, only those rolling. So the hourly part does not work but the monthly or quarterly income does (normally).
Rob
Not easy to figure by the hour all the time but I did work out a system for that where if I could do $25/hr while driving (all miles for a run, including dh), then it was profitable (in CV). Normally the runs work out that well. But this of course does not cover the hours spent being out ready for work, only those rolling. So the hourly part does not work but the monthly or quarterly income does (normally).
Rob
fedexhatch
Seasoned Expediter
thanks everyone! I've got a house payment,cell bill, a few credit cards scattered around. and other then the elec. bill,gas,water thats about it. I do have a son thats in his third year at king. but other then that im pretty clear of bills.
chefdennis
Veteran Expediter
pantherhatch...I sent you a PM....
Dakota
Veteran Expediter
thanks everyone! I've got a house payment,cell bill, a few credit cards scattered around. and other then the elec. bill,gas,water thats about it. I do have a son thats in his third year at king. but other then that im pretty clear of bills.
Do yourself a favor and stay away from credit cards to fund your business. It's so easy to pay for gas, food etc and say you'll pay it off next month when it gets busier. When I started I had some money in savings, the first year was brutal. I charged up my business credit card to pay for fuel etc. I am still trying to pay that down/off. This year has been much better. I now pay for all my fuel in cash, or use my debit card, depending on if they give me a cash discount. I get free atms from my credit union so I can stop at a truckstop use their atm and get the cash price. Yes, I do have a credit card for emergency purposes, but I rarely use it. Good Luck!!!
thanks everyone! I've got a house payment,cell bill, a few credit cards scattered around. and other then the elec. bill,gas,water thats about it. I do have a son thats in his third year at king. but other then that im pretty clear of bills.
Do you have a significant other who can cover those bills and allow your income to be the gravy?
chefdennis
Veteran Expediter
pjjjjj wrote:
Thats what makes this business work for me...i don't ask this business to pay for a single bill at home...those are covered my other income streams, investments and my wifes income leaving this business to pay for itself, and to add the "Gravy" to the mix
I own 3 businesses including this one, none of them pay anything at home..other then adding to the "Gravy' as pjjjjj said...
Thats what makes this business work for me...i don't ask this business to pay for a single bill at home...those are covered my other income streams, investments and my wifes income leaving this business to pay for itself, and to add the "Gravy" to the mix
I own 3 businesses including this one, none of them pay anything at home..other then adding to the "Gravy' as pjjjjj said...
nightcreacher
Veteran Expediter
I'm in this for the business,no other reason.I probably have more bills than anyone would want,but my truck takes care of it all.The only thing I don't have is a wife to help pay the bills,but if I did have a wife,she would be my co driver, and I would save the 50k a year I pay him
There's an option for a newbie.... become a co-driver with a TT owner, make the $50K and leave the expenses to the owner while you learn the ropes.
There's a lot to be said for gravy! Mind you, I'd be pretty p*ssed if I couldn't count on my husband to bring in money to help with the household expenses. Can't have a guy spending all his time for break-even nada. Might as well stay home and make nada and at least do some work around the house (unless I hated him!). Hopefully the gravy is pretty thick and rich! What happens if the expenses overrule the revenues, who pays for the loss?
fedexhatch
Seasoned Expediter
yes my wife does work, (bless her) so she is good for about half. but I better pull my side of the wagon!
Because we can! "there's a hole in daddy's arm where all the money goes..."
nightcreacher
Veteran Expediter
in any business you hope to make 30% profit.If you do that you should be fine.
chefdennis
Veteran Expediter
pjjjjj wrote:
With me being self employed for more of my adult life then i care to think about...there has always been enough in the bank to cover any expenses. Any business i get into have a postitive cash flow from the start and must pay for its own expenses as well as turn a profit. I will fund the startup out of my pocket, but that must be returned on a schedule when it can't support itself, its time to close it..(i still have a storage unit full of GYM equipment to outfit a nice small gym from a business that couldn't support itself and i had no reason other then bull headedness getting into and closed after 11 months and the last 4 of me supporting it out of my pocket)...as for this business...it pays for itself, and has more then enough to pay for any repair that might come up, and the wife is more then happy with the "gravy"......She does a little happy dance when i go back in service after being home... she and my daughter enjoy their own time and space while i am out here and when i am home i interrupt their schedule and how they do things...
As for doin house work, thats what she hires someone for from time to time... LOL, she just had the deck power washed ans stained this past week...
With me being self employed for more of my adult life then i care to think about...there has always been enough in the bank to cover any expenses. Any business i get into have a postitive cash flow from the start and must pay for its own expenses as well as turn a profit. I will fund the startup out of my pocket, but that must be returned on a schedule when it can't support itself, its time to close it..(i still have a storage unit full of GYM equipment to outfit a nice small gym from a business that couldn't support itself and i had no reason other then bull headedness getting into and closed after 11 months and the last 4 of me supporting it out of my pocket)...as for this business...it pays for itself, and has more then enough to pay for any repair that might come up, and the wife is more then happy with the "gravy"......She does a little happy dance when i go back in service after being home...
she and my daughter enjoy their own time and space while i am out here and when i am home i interrupt their schedule and how they do things...As for doin house work, thats what she hires someone for from time to time...
LOL, she just had the deck power washed ans stained this past week...