So, you tired of being a company driver? Or are you trying to make more money in a new business venture? I have grin like the Joker from Batman right now.
How Much Money Can I Make Being a Company Truck Driver?
If you decide you want to drive a truck as a company driver over the country you must do your research on companies you will drive for. You have to find out how much per mile is the company going to pay you per mile and any extra money for work that you will do such as waiting, or doing extra drops. High cent per mile pay doesn’t mean much if you are not getting plenty of miles a week. A reasonable wage for a company driver operating a Dry Van should be minimum .40 cents per mile plus money for drops and waiting time if it exceeds more than a couple of hours. You should be offered enough freight for you to safely and legally operate driving an average of 3,000 miles a week. This is unless you wish to join an outlaw company that can cost you more than any dollar is worth. At 3,000 miles a week average with an .40 cent per mile minimum plus any extra drops you should be able to make close to $1,500 a week clean. After covering your expenses such as bills you should be able to save at least $2,000 a month. To ensure your savings stay away from products at truck stops and find them for cheaper on the internet at websites such as amazon, or go to stores such as Wal-Mart. Truck stops mark their prices up way too high. Think outside the box such as instead of spending a dollar per water bottle, buy a 24 pack for 3.99. Stick to your plan to reach your goal of how much money you want to make. Key things are do not be lazy. Don’t treat the truck as your home. Set money aside for future goals. To do this make sure you find a company that can offer you a job that will help you reach this goal.
Business Plan For Owner Operator Trucking
Owning a truck is more than just driving. This requires understanding how much does it cost for you to operate and how much are you being left with after your expenses.
First you need to have emergency money put aside. This money is to cover anything that might go wrong in the beginning. Second you need to calculate what your operating costs are and how much money you would like to make.
If you plan on being leased to a company you have to make sure that company has good paying freight. You have to make sure this company will keep you loaded and rolling. Don’t let a company jeopardize you or your financial status. They have to have cash flow coming in. Make sure their line haul percentage and anything they may offer is calculated by you to ensure you’ll be satisfied with your pay.
If you plan on finding your own freight through companies like Landstar or Mercer you’re taking a step forward. If you don’t like dealing with paper work and just want to drive and find your own loads they are perfect companies. A lot of drivers do well with them, but also a lot of drivers fail. Make sure you do your calculations before you sign up and study on how to find best freight that will make you money.
If you plan on becoming a carrier and become 100% independent you need to get your own authority. Make sure you have money set aside. Look for programs where you can get fuel cards and savings such as NATSC. Become a member of a group called OOIDA if you haven’t heard of them. If you don’t have too much capital you can use recommended factoring companies to keep your cash flow going. Now it’s time for you to find your own loads that will make you money depending on your costs. You’ll also have to make sure you pass safety audits set up the DOT regulations.