Calculation was off I think. If you bought the truck and aren’t paying rent and Your financing cost is $1100 a month then you have to divide that into 4 weeks making cost per week $ 275 so total profit per week based on your number should be above $1500. Well that’s if your financing payment is $1100 a month and not a $1100 a week
If you're reading this in 2024: Do not be scared to call or show up in person to work with customers directly... Especially if you're local they will always appreciate a local partnership. You save them money by cutting out the broker and dispatcher and put more money in your pocket. Thinking outside the box is key in Logistics.. If you're going through brokers or gig work for the time being when you're delivering ask to speak with the Transportation/shipping manager to see if you can get them rates on their lanes and its an easier conversation. I was a broker for 7 years and about to buy a 26ft/Lift and a Sprinter van. If you hustle and make solid relationships you will always be in good shape in due time..
U gota think he was paying MONTHLY payments out of a lowball WEEKLY pay so your next 3 checcs wud be strait profit outside of gas, tolls, driver pay, hotels etc
Somebody please help me out sounds as if you rent a truck and hire a driver that the driver would make 924 per week and you yourself would only profit around 350 ?
Being an owner means you always get paid last and sometimes less than your workers. But the end goal is that business scales and you make more in the end. I wouldn’t pay 20 percent I would go by industry standard. Maybe a little more since I’m small business. And hope that my driver that is a great candidate can refer me other qualified applicants. So I can keep scaling.
He took MONTHLY bill payments out of a lowball WEEKS earning. So technically the way he calculated it ur next 3 weeks pay wud be strait profit besides gas, hotel, tolls and the drivers pay
@@covenantdispatchllc7644 Yes but what I'm getting at is those numbers are barely the average job that being anything really above food service. So unless you own your truck with no payments, work for yourself, or have five or more trucks with drivers then after your overhead and taxes you wouldn't make much a reasonable profit. It just doesn't seem like a way to make a living.
sorry if i sound ignorant im just new to this, what about taxes? we just ignore them until its Feb and its time to pay for them? also does gas help as a tax deduction?
Yes write your gas off as a tax write off, also you may be able to write some of your Insurance off also , food , any equipment , hotel stays. Try very hard to keep Your receipts. ( hope this helps ).
so you added 1100 a month for finance toa 1 week earning? more like it should be 1100 divided by 4 which is 4 weeks so 275. alot of stuff i can point out wrong in this video btw. you can make more.
U gota think he was paying MONTHLY payments out of a lowball WEEKLY pay so your next 3 checcs wud be strait profit outside of gas, tolls, driver pay, hotels etc
@@covenantdispatchllc7644 nah not accurate. I’ve been stopped and the officer confirmed it because she was about to hit me with a fine. That was in Indiana
@@ystmartinmg Let me be more clear actually. A driver can’t legally log in “sleeper berth” hours with a commercial vehicle that does not have a DOT approved sleeper attached. It’s a gray area regulation, but there are plenty of people especially non-CDL hotshot drivers, and box truckers that get hit with these violations. Sounds like you weren’t logging in sleeper berth hours, or you just came across a kind trooper or DOT officer.
Yes, u also gota realize with his calculations he was paying MONTHLY payments out of a lowball WEEKLY pay so your next 3 checcs wud be strait profit outside of gas, tolls, driver pay (unless ur driving), hotels etc
Do you need commercial insurance of your own when renting? Or can you just add on the truck company’s insurance? I know that doesn’t cover the goods being carried but I want to know if that’s going to be another expense, that’s why I’m confused and asking.
Good question. You actually would need your own commercial auto liability coverage because that is what keeps your MC number active. In any other scenario you could absolutely use their insurance, but when looking to haul freight across state lines, or to obtain your own MC authority you would have your own coverage anyways. Hope that answers your question! 😁
Very helpful thank you. When you say “commercial auto liability” does that mean I can get liability instead of full coverage making it cheaper? Or do the load companies require you to have full coverage. Thanks again no more questions
When working with a dispatching firm, you must have your own commercial insurance for your truck; how can you pass this with the dispatcher for a rent truck?@@covenantdispatchllc7644
U gota think he was paying MONTHLY payments out of a lowball WEEKLY pay so your next 3 checcs wud be strait profit outside of gas, tolls, driver pay, hotels etc
Make the customer pay it, just factor it in to your operating costs, if you do work and never hit a toll for a customer you should still charge it imo but I would label it “miscellaneous”
I think this should be a more clear break down for you guys. Let me know if I made a mistake y’all. Scenario: RPM: $2.00 Miles: 2,200 Gross Total: $4,400 Overhead Costs: ($3.95/7mpg= 0.56×2,200=$1,232) Fuel- $1232 Tolls- $170 Hotel- $300 ELD/MISC- $65 Rent Truck- (.19 cents per mile & $2.100 each month) = $943 Driver- $924 Total:$ $4,104 Profit = $ 396 If you drive & buy your own truck: Gross total: $4400 Weekly Expenses: Maintenance- $300 Fuel- $1232 Hotels- $300 Tolls- $170 ELD/MISC- $65 Total expense= $2067 What’s left? $2333(weekly)x 4 = $9332 Minus Monthly Expense: Finance Pavment- $1,100 Insurance Avg -$1200 ( I know he said $470 weekly but you can a semi reefer insured for a little more that) So $9332-$2300= $7032 This just first year…now if you hustle and pay that truck off that $1100 back in your pocket plus your insurance is always high for a new authority but after a year it drops. So it’s still profitable…
Uur profit would be way more the following 3 weeks. U gota remember he was paying MONTHLY payments out of a lowball WEEKLY pay so your next 3 checcs wud be strait profit outside of gas, tolls, driver pay, hotels etc
After watching this video, I don’t understand how he’s not making no money. I can make easily $1000 a day I started up my whole company under five grand and I don’t know who told him that it’s illegal to sleep in your truck, but that’s not true I sleep in mine all the time DOT does not give a shit so all that hotel money is a waste
At the time of making this video I had associate truckers who were ticketed for sleeping in their cab with no sleeper. If you can add better quality information, create a TH-cam channel and share it 👍🏽
What I would like to hear is the costs if I Rented a truck or van, but I did my own driving. Do I need all those certificates if I rent a van and pick up loads? My credit is just short of being able to buy a $24,000 used Sprinter type of van or a box truck.
Why taking out 1100 finance for a month from first week money ,shouldn’t be divide in four weeks , same thing you did with insurance money, this guy is a wrong number
You thinking you have to pay all these bills every week. No. You pay all this one week. So only the first week will look like this and then the other three weeks everything is Profit minus gas, phone bill, and food.
The world is full of skeptics .. don’t be another one … don’t knock it until you’ve given it your all. U don’t wanna be thinking about all the missed opportunities 10 years from now …. Good bless 👍🏽
I got in the game I can tell you, your comment is a 100% wrong, it's money in box truck game its enough money 💰 🤑 for everyone to eat. I am a female owner op it's money out here but if you think your going get 15$ miles it ain't happening
Click here on this link to access our Dispatch Course, Dispatch Course & Online Trainings: www.onestoptruckinghub.com/features
Calculation was off I think. If you bought the truck and aren’t paying rent and Your financing cost is $1100 a month then you have to divide that into 4 weeks making cost per week $ 275 so total profit per week based on your number should be above $1500.
Well that’s if your financing payment is $1100 a month and not a $1100 a week
@@nonsookwuenu I stand corrected.. You are RIGHT!! Sorry guys!
What about cargo insurance you did mention that
If you're reading this in 2024: Do not be scared to call or show up in person to work with customers directly... Especially if you're local they will always appreciate a local partnership. You save them money by cutting out the broker and dispatcher and put more money in your pocket. Thinking outside the box is key in Logistics.. If you're going through brokers or gig work for the time being when you're delivering ask to speak with the Transportation/shipping manager to see if you can get them rates on their lanes and its an easier conversation. I was a broker for 7 years and about to buy a 26ft/Lift and a Sprinter van. If you hustle and make solid relationships you will always be in good shape in due time..
Thanks for the realistic, transparent info bro 👍🏻
I like the breakdown. I really appreciate that.
Your video helped alot ive been looking into to starting my own box truck company. Ill be the only driver
You made a mistake 12:19 you added the whole price of the financed payment of the truck instead of dividing it by four for the weekly amount
I edited my statement in the description under that video.
Trying to start my own box truck business trying to talk to you get my life started
excellent video, so informative and transparent !
Most detailed video I’ve seen this year #Thanks
Still don't know if the profit of 753 was monthly or weekly
Best Video on this topic.
that was very helpful so you def got to hustle but the money is there
U gota think he was paying MONTHLY payments out of a lowball WEEKLY pay so your next 3 checcs wud be strait profit outside of gas, tolls, driver pay, hotels etc
Rudy Gobert coming in clutch for us newbies
Yoo this is hilarious 😂😂😂😂😂😂😂😂
😂😂😂😂😂😂😂😂😂😂😂😂😂
Lol !!!!!!
Somebody please help me out sounds as if you rent a truck and hire a driver that the driver would make 924 per week and you yourself would only profit around 350 ?
Being an owner means you always get paid last and sometimes less than your workers. But the end goal is that business scales and you make more in the end. I wouldn’t pay 20 percent I would go by industry standard. Maybe a little more since I’m small business. And hope that my driver that is a great candidate can refer me other qualified applicants. So I can keep scaling.
On the road semi drivers. I hear make like 60k a year.
He took MONTHLY bill payments out of a lowball WEEKS earning. So technically the way he calculated it ur next 3 weeks pay wud be strait profit besides gas, hotel, tolls and the drivers pay
Very well said!!!!! Thank You!!!
Didn’t include truck gps and load boards subscriptions .
Where to find a good Driver if I have multiple trucks?
Indeed and Facebook Job Posts work like a charm!
What size truck are you renting?
I am looking at a 26 foot/ gas truck, w/liftgate
OR a 16 foot/gas truck w/liftgate
Get 26 foot so you get paid for the full load . 700 miles for 1500 $+
Thank you for making it simple for us newbies
Awesome info thank you
What about taxes?
I’m not a CPA, but take those numbers and do the math according to the state you live in
@@covenantdispatchllc7644 Yes but what I'm getting at is those numbers are barely the average job that being anything really above food service. So unless you own your truck with no payments, work for yourself, or have five or more trucks with drivers then after your overhead and taxes you wouldn't make much a reasonable profit. It just doesn't seem like a way to make a living.
sorry if i sound ignorant im just new to this, what about taxes? we just ignore them until its Feb and its time to pay for them? also does gas help as a tax deduction?
Yes write your gas off as a tax write off, also you may be able to write some of your Insurance off also , food , any equipment , hotel stays. Try very hard to keep Your receipts. ( hope this helps ).
so you added 1100 a month for finance toa 1 week earning? more like it should be 1100 divided by 4 which is 4 weeks so 275. alot of stuff i can point out wrong in this video btw. you can make more.
Yes, I corrected myself in the description under the video.
Right? I thought I was going crazy. This is all based on 2200 miles revenue... you can do that in 3 day and still have 4 more days of driving to do
I noticed that too, I already did the calculation, except I divided it by 3
What about your regulation 391 or certificate of authority? Just new to this
what about Amazon Relay? Can you get a better rate?
How do you go about finding your companies you will be hauling for and does each company quote you a rpm?
once you get your expanse out and own your own truck you could see alot of money
Absolutely! way more potential with a truck that you own flat out no monthly payments
I mustvne missing something did he say your profit every week is just 297 per week if u hired a driver?
U gota think he was paying MONTHLY payments out of a lowball WEEKLY pay so your next 3 checcs wud be strait profit outside of gas, tolls, driver pay, hotels etc
You can sleep in a box truck. You won’t be able to do a sleeper berth. You have to do a 10 hr reset
You can sleep in a box truck only if the box truck is equipped with a legit sleeper. Otherwise you’ll get a fine (if caught) trust me
@@covenantdispatchllc7644 nah not accurate. I’ve been stopped and the officer confirmed it because she was about to hit me with a fine. That was in Indiana
@@ystmartinmg Let me be more clear actually. A driver can’t legally log in “sleeper berth” hours with a commercial vehicle that does not have a DOT approved sleeper attached. It’s a gray area regulation, but there are plenty of people especially non-CDL hotshot drivers, and box truckers that get hit with these violations. Sounds like you weren’t logging in sleeper berth hours, or you just came across a kind trooper or DOT officer.
Taxes and tax deductions. I too would love to see a breakdown of how that plays a part in your example
All transparency I didn’t hide anything now you see the reality of the Box Truck Business when depending on a load board
Nice
So what is considered a good per mile rate to get paid and what's the average?
That’s the game. You’ll have to figure it out
The highest you can get! You want your FC and your VC as low as possible and you want your RPM as high as possible!
2.0 is kinda low. I think 2.50 average but I think aversge is now like 2.0
3 is good 4 is amazing
This is per week right?
Yes, u also gota realize with his calculations he was paying MONTHLY payments out of a lowball WEEKLY pay so your next 3 checcs wud be strait profit outside of gas, tolls, driver pay (unless ur driving), hotels etc
If you finance your truck. Wouldn't the $1,100 you added actually be 1/4th that because you are calculating weekly
Yes I corrected this in the description of this video
You calculated monthly expenses for a week
Yes I corrected myself in the description under the video.
Do you need commercial insurance of your own when renting? Or can you just add on the truck company’s insurance? I know that doesn’t cover the goods being carried but I want to know if that’s going to be another expense, that’s why I’m confused and asking.
Good question. You actually would need your own commercial auto liability coverage because that is what keeps your MC number active. In any other scenario you could absolutely use their insurance, but when looking to haul freight across state lines, or to obtain your own MC authority you would have your own coverage anyways. Hope that answers your question! 😁
Very helpful thank you. When you say “commercial auto liability” does that mean I can get liability instead of full coverage making it cheaper? Or do the load companies require you to have full coverage. Thanks again no more questions
When working with a dispatching firm, you must have your own commercial insurance for your truck; how can you pass this with the dispatcher for a rent truck?@@covenantdispatchllc7644
profits need be: $726 plus 923 ( driver ) right?
if you drive and bought the truck finance (1.100 month)
Do you have any recommendations for long distance trucking insurance beside Progressive?
I am in the process of starting a box truck business. I had an accident in March would that effect me?
You should be fine you could hire a driver with a CDL and when the insurance company runs an MVR on the driver it will lower your premium.
Pls bro I got my CDL now but I had a accident in my record almost 4 yrs What is the effect on my opportunity to get a job or if I buy my own truck
Bottom line BOOK YOUR OWN LOADS . If you have a strategy you’ll clear thousands a week
Great info but based on this it seems like it wouldn’t really be worth it right?
U gota think he was paying MONTHLY payments out of a lowball WEEKLY pay so your next 3 checcs wud be strait profit outside of gas, tolls, driver pay, hotels etc
Who pays the toll??
U or the company to which you are hauling?
Make the customer pay it, just factor it in to your operating costs, if you do work and never hit a toll for a customer you should still charge it imo but I would label it “miscellaneous”
If you pay the toll it’s a tax write off.
What insurance did you use for you to pay 470 a month I was paying 1485 for the first year and it bust down to 1300
Are there any loads that go into canada? I live by Niagara falls by Canada, if so do they pay more?
You spoke wrong on the calculations. The monthly payment only comes out once a week. The other weeks you would get $1000 in addition
I addressed this in the description under this video since I couldn’t go in and edit the video.
I’m in Pittsburgh, Pa. I want in. 47 and want to be a great Bussiness owner/ co-worker
What if you did 15 to 2000 miles a week is that possible
It’s still possible to make a profit depending on the RPM, and the cost of your truck rental.
Did you mean Truck Loan payments would be $1,100 a month???
You are calculating Weekly expenses.
Yes check the description under this video we recognized the error and corrected it
I think this should be a more clear break down for you guys. Let me know if I made a mistake y’all.
Scenario:
RPM: $2.00
Miles: 2,200
Gross Total: $4,400
Overhead Costs:
($3.95/7mpg= 0.56×2,200=$1,232)
Fuel- $1232
Tolls- $170
Hotel- $300
ELD/MISC- $65
Rent Truck- (.19 cents per mile & $2.100 each
month) = $943
Driver- $924
Total:$ $4,104
Profit = $ 396
If you drive & buy your own truck:
Gross total: $4400
Weekly Expenses:
Maintenance- $300
Fuel- $1232
Hotels- $300
Tolls- $170
ELD/MISC- $65
Total expense= $2067
What’s left?
$2333(weekly)x 4 = $9332
Minus Monthly Expense:
Finance Pavment- $1,100
Insurance Avg -$1200 ( I know he said $470 weekly but you can a semi reefer insured for a little more that)
So $9332-$2300= $7032
This just first year…now if you hustle and pay that truck off that $1100 back in your pocket plus your insurance is always high for a new authority but after a year it drops.
So it’s still profitable…
so if i rent and drive it myself based on this scenario I should be profiting $1,320
2k a week is still like 3 times the amount I'm making working this dead end security job 💀
Xpo has loads for .49 cents a mile. No money
Is not illegal to sleep in a box truck
You’re right, it’s frowned upon in some places. Should’ve worded it better.
I officially don’t want to enter the Box Truck business‼️🤦🏽♂️
I don’t blame you. It’s no impossible if you crunch your numbers down precisely
Uur profit would be way more the following 3 weeks.
U gota remember he was paying MONTHLY payments out of a lowball WEEKLY pay so your next 3 checcs wud be strait profit outside of gas, tolls, driver pay, hotels etc
After watching this video, I don’t understand how he’s not making no money. I can make easily $1000 a day I started up my whole company under five grand and I don’t know who told him that it’s illegal to sleep in your truck, but that’s not true I sleep in mine all the time DOT does not give a shit so all that hotel money is a waste
At the time of making this video I had associate truckers who were ticketed for sleeping in their cab with no sleeper. If you can add better quality information, create a TH-cam channel and share it 👍🏽
What I would like to hear is the costs if I Rented a truck or van, but I did my own driving.
Do I need all those certificates if I rent a van and pick up loads?
My credit is just short of being able to buy a $24,000 used Sprinter type of van or a box truck.
The music is distracting , and talking sounds rushed. Otherwise, info itself is useful.
Thank you for polite constructive criticism! ❤️
Insurance is too damn high
Why taking out 1100 finance for a month from first week money ,shouldn’t be divide in four weeks , same thing you did with insurance money, this guy is a wrong number
It was a mistake I made and made the correction in the description under this video.
After watching this its not worth it all that stress for a 1400$ weekly pay is not worth it and with the rates all over the place.
Im independent contractor and I bring in nothing less than 6k and weekly
You thinking you have to pay all these bills every week. No. You pay all this one week. So only the first week will look like this and then the other three weeks everything is Profit minus gas, phone bill, and food.
He broke down 1/2 days not a week
The world is full of skeptics .. don’t be another one … don’t knock it until you’ve given it your all. U don’t wanna be thinking about all the missed opportunities 10 years from now …. Good bless 👍🏽
@@zay2slimeyy599how ?
Ain’t no money in the box truck game anymore it’s too over saturated now . Everyone hip to it now
It depends who you’re connected too. Depending on freight from the load boards will take you out of the game quick.
@@covenantdispatchllc7644 so where do you go if not the load board?
I got in the game I can tell you, your comment is a 100% wrong, it's money in box truck game its enough money 💰 🤑 for everyone to eat. I am a female owner op it's money out here but if you think your going get 15$ miles it ain't happening
@@naciapelmore4964 yeah people sleep as long as stuff need to be picked up freight and trucking is forever
Just slang dope .oh wait too over saturated too huh lol
Is that amount is monthly ? After looking this video I change my mind
I don’t blame you, but don’t let that discourage you either there are plenty of other ways to make money in a box truck besides load board freight.
how can i contact you
courses@covenantdispatchllc.com