$250k a year per truck gross is about right. After all expenses, driver pay, all insurance, maintenance etc, it’s around $100k net profit a year, to the company. Great video. Keep it up 👍
@@JacobGardner-v9preach out to other local dump truck companies, excavating companies, General contractors, anyone in construction that might need dirt moved.
Great Video. Im strongly considering starting a my own dump truck business. I'm currently working as a garbage man and made 115k in 2023. My goal is to make more money and also have more flexibility with my time in the future. I have some savings and am looking to talk with someone who has experience with owning a dump truck in chicagoland. i will consider paying for time and wisdom and knowledge of starting a successful dump truck business in Chicago. Thank you God Bless.
Thank you Lord Jesus for the gift of life and blessings to me and my family $14,120.47 weekly profit Our lord Jesus has lifted my Life am no longer a truck driver!!!🙏❤❤❤
I’m looking at all these comments and I’m seeing a shit ton of Owner-Operators complaining about the numbers. If the dump truck business was trash, it wouldn’t be in business. Majority of yall don’t know how to operate a business in general and are in the comments complaining .. what is up wit yall?
People who never do anything love to tell you why. They never realize things are easier than they comprehend. It’s the man in the arena who gets the glory.
@@nate_indiana_jones yeah man totally. I know this business is profitable if you play the numbers game right. I used to be in construction and the drivers used to tell me they were charging my company that I worked for $110-120/hr. If you stay busy and market yourself right, u can do that 6x a week 8-10 hrs. A day! It’s LUCRATIVE!!
Trucks get $105/hr - $115 fuel burn for 8 hr day is around $400/day hired driver $27/ hr avg. hoping nothing happens to truck that day Not much of a profit. Still need to pay insurance plus your plate roughly $15000/yr this is the basic stuff there is more. I wish it was as easy as he says unfortunately, he is not even close
Bro what? 105x8 hours =840 To fill at tank from E is 325 in jersey That’s 530 profit a day that’s around 2600 after fuel a week… is 10k a month That’s bare minimum that’s definitely a profit you must not have good money management skills🤣
And this is the problem. Apparently this truck drives itself and you have zero breakdowns oh and let’s not forget DEF fluid I see that was added into your price as well before you start pointing the finger and accusing of poor money management skills. Perhaps you should learn how to do math, and actually run a business the way it supposed to be and there is very little money to be made in the dump truck business and I’m guessing you don’t have a payment on that truck either or that would be calculated into it. Let’s start adding up the real cost and then talk to me about the profit.
@@LyleMarche bro I watched one of my friends Jcruz based out of New Jersey start with one truck in 2016 by the end of the year he had brought 4 more Now it’s 2024 he has over 50+ trucks all brand new KW and couple Mack’s it’s definitely possible You may be in a state that has poor rates but out here in jersey it’s good pay DEF is cheap asf that’s not really a concern The price I have is based of your rates We make almost 1-1500 a day out here that’s normal runs Asphalt for state is 150-280+ a hr Asphalt for GC is about 80-150 a hr And we have plants and quarries all over between Jersey and Pennsylvania
I started with a 2012 Mack I picked up for 5000 I put batteries, radiator, turbo, pdi turbo manifold for 2500 so 7500 for the truck, and a set of older belly dumps for 4000 dollars put 2000 into them so 6000 into the trailers insurance I paid 9600 my first year so that turns to be around 700 a month then 5000 down for fuel I held outside and 3500 for registration for the truck and trailer tags etc and the first year that truck and set of trailers paid them selves off and turned a profit of $112,000.00
My brother that will be your 1st mistake buying a used truck the repairs that 1st year can make you go out of business if you don't have credit cards to fix them or money in the bank buy a new truck with full warranty as long as you making your payment if the truck break down you won't spend nothing fixing it in my case I never had a new truck quit on me the 1st year
I was thinking this, as well. The only hesitation I have is that "people sell their problems", and "put lipsticks on pigs". However, as long as we have a good mechanic (either friend or on staff), I guess it could mitigate the risk.
@@Gen_4927 A friend of mine runs about a dozen dump trucks. After running old trucks for more than a decade, he bought a relatively new one thinking, "Bite the bullet, pay more now, have less downtime and less cost in parts and labor" He sold that truck. Turns out in the dirt world they break down just as much, but the parts and labor are far more money.
bro i spend 7k a month in gas alone, that doesnt include driver pay, insurance, tolls, breakdowns, tows. storage, tags, mmr, maintenance & taxes. business right now is pretty shitty
@@nate_indiana_jones Funny the costs he mentioned will apply to most people's business in most locations. Everyone has to buy fuel, insurance, repairs, taxes etc. They do not vary that much. If your video's magical revenue and expense numbers only apply in certain areas why didn't you tell us that in your video? Let us know what states and areas are making good numbers. You are offering people bad advice in these videos you make about business you know nothing about.
Dear sir, I hope this message finds you well. I’ve been following your journey in the dump truck business on RUclips and have been truly inspired by your success and insights. I obtained my CDL-A license in 2018, but I haven’t utilized it as I was a teacher until recently. I made a quiet exit from teaching due to the constant scrutiny from superiors and the increasing difficulty of the job, despite my love for the students. I am now seeking a career change into the dump truck industry and would greatly appreciate your advice on getting started. Specifically, I am interested in whether I should initially work for a union or non-union company. I’ve seen many trucks on the road and assume there are pros and cons to both. Additionally, I’m curious if it would be wise to gain a year or two of experience before purchasing my own truck and starting my own business. I value being home with my family daily or every other day and want to ensure this career choice supports that goal. Your guidance would mean a lot to me as I look for a positive change and a successful future in this industry. Thank you for your time and advice. John
John, thanks for the comment! I would recommend working for a local smaller dump truck company. Learning the business and then seeing if the business is something you would want to start. If it won’t fit your lifestyle then I wouldn’t start it.
I love how people that never did what they are talking about give advice. There are waaaayyy more expenses running a truck than that. Insurance seems a little low with a financed truck to me. DOT compliance, This video makes it seem like Class A dump trucks never need any Parts and repairs... the older the truck the more down time you will have. Everyone always acts like you're going to generate X dollars, because you can do this much work this many days a week. Driver Salary and workers comp in there too. Have you ever had to pay for an 11/24.5 tire repair on the side of the road? Also who is paying you? Is it individual accounts and customers? Then you will need to pay someone for billing and hope everyone pays on time.
Thanks for your insight, I always appreciate it when people provide their insights to how operating a dump truck company is going. How many years have you been running your company?
@@nate_indiana_jones I have been running dump trucks since 1998. Not necessarily in the way your video is describing. My trucks or mostly used for my own spoils and moving equipment. Your $252k is a very realistic number for gross sales, just not how much profit. I realize this number can vary depending on what state you are in, but I would guess someone grossing 250k is probably making 75-90k as an owner operator and that is working approx 60 hrs a week. Drivers by me make $1200-$1900 gross per week driving someone else's dump truck
Yes, the 252,000 that I mentioned is the gross sales. It would be very very hard to do $252,000 a year profit with only one truck that would likely take a fleet of 4 to 5 trucks, but then your labor cost it would be hard.
@nate_indiana_jones I drive for a small drump truck company. For the last 5 months, I have been paying close attention to every aspect of the company. I watch my fuel cost, revenue to the truck, maintenance, and some other expenses.
As a 15 year owner/op of dump trucks in Canada. I can tell you without exception, operating costs of a tandem dump truck (assuming its fully paid off aka no truck payments) is around $70/hr (Thank you Trudeau for that ever increasing carbon tax). Not including a driver. So, for every 100 hours you work that truck, you can assume $7,000 in expenses, not including paying a driver. Most customers are contractors, and they pay between $90-100/hr/truck. That leaves $20-30/hr to pay yourself, put money away or pay a driver and break even for all the risk and stress. This guy is completely out of it. Or my market is total dog shit, probably a little bit of both. Trucking businesses are going out of business or closing their doors all over North America for a reason.
You know i just did the math on your numbers.... that seems brutal. Is this based out of the GTA somewhere? I'd be curious to see if other markets are any better.
Good evening, I congratulate you for your channel it is very helpful, I live in Minnesota and I would like to know if you know anything about employment
No he makes youtube videos for a living. Pretending he is too honest to do honest work, while making a video full of lies about how easy it is to make money with a dump truck.
The information that you have given is not accurate. There are many more expenses and situations that must be considered to own and operate a tri axle dump truck. one large expense is the driver pay, this was not mentioned, this could be between 50 and $75,000 per year easy. The dump truck business is a very tough business to run as previously said, there are a lot of other issues that needs to be considered before buying a dump truck. Thanks, 51 years in the industry and counting!
Also, in the dump truck industry, we do not work every day. When is the snow time, you can be shouted down for months until the business comes back around March. The estimation you gave there is when you work the all year where it's really not the case.
This guy has no idea what he is talking about. He is a youtuber, just makes money making youtube videos. He should stick to advice on how to make money doing youtube videos. No blue collar knowledge or experience.
I have been diving all kinds of class A and B vehicles (including) dump truck, roll off, flatbed, dump trailer, walking floor, ect. I know a lot of drivers and owners. I know very little about Maintenance and repairs. Was thinking about doing a 2 year diesel mechanic school of at the very least a 2 year auto tech school to save money on problems and repairs. Is this a good idea or should I just jump right into it?
4:20 -ish...that's a 20.2% profit margin per month. Did I do that right (4233/21000)? If I correctly calculated, that is incredible. Nate - separate business of loads and owning a truck (2 businesses), or some other way?
Florida still has a booming economy from a construction standpoint. This will likely help obtaining loads easier. That being said the insurance and operating costs are higher in Florida. I think it depends on where you would like to live. I am a firm believer that your business should revolve around your lifestyle.
Just buy a business with that money, use a 15percent down payment of what you have and keep some as an emergency stash. Its alot more lucrative than starting out from scratch
I do individual mentoring, would be happy to see if there is a fit. I want to make sure I can help before mentoring. You can contact me on my website at natejonesentrepreneur.com
450 gallons "A MONTH" what is your operating range 5 - 10 miles? I currently drive a tri axle dump truck and run on average 250 miles averaging 8 loads a day 5 days a week and use 65 gallons a DAY in fuel running 2019 emissions equipped truck.
I have the money to buy the truck cash if I take it from my rrsps witch will cost me 30 percent in taxes , the truck is sixty thousand , witch is 18000 dollars in taxes but the interest rate over six years is almost twice that , do think it’s a good idea to finance the truck in this way ?
This guy is not smart enough or experienced enough in real business to even understand you are suggesting taking money from a retirement plan to pay for a truck, which is why there would be a 30% tax. He doesn't know anything about trucking either, he is not a trucker he is a youtube video maker. You are asking a youtube video maker on the internet for advice on something so important as taking your retirement money and putting it into a very real, very capital intensive, risky and hard business. My advice would be to save up enough cash or get financed on a truck and have working capital for things like repairs and slow months. Truck deals come and go plus the interest would be lower if you pay the loan off faster. According to this guy's video you'll make so much money you could pay the loan off in a year. Keep your retirement for your retirement and/or as a last resort rainy day fund. Most business startups fail, I've seen people take from their retirement to start a business a few times in my life and each time it failed, in part due to inadequate reserves when times got tough and one other time a guy had no experience in the business he was getting into. If you have no prior trucking experience you would need that also before starting, in the type of trucking you would want to do.
Call and work with local homebuilders, general contractors, property managers, other larger dump truck companies essentially any company that you could possibly think about that would need gravel or dirt moved. That’s who you should reach out to.
Call the larger dump truck companies and see if they can give you some of their loads. They will dispatch some of their loads. Call the larger highway contractors and see if you can haul for them or who you should reach out to. Compile a whole list and ask what they pay.
@nate_indiana_jones i was able to get 2 dispatcher numbers so far. I service heavy equipment. So i started talking to the belly dump drivers. They gave their dispatch number. Now ill call around. I haven't bought a truck yet untill i get solid contacts.
Unrealistic numbers, I didn't even get half way through and knew you were way off. If your making 252k your working day and night as a owner operator. And thats if your in a state that has no winter or spring.
What size of a truck are we talking about? Difference is also what are you hauling. Are you hauling customers load or are you buying and selling gravel/sand. I charge per distance base-loading-unloading-base. Additional charge for over 2h waiting time.
Yes, you could probably do more but you can also get burnt out pretty quickly if you’re hitting it every single day. I tried to provide a realistic number.
As a trucker for 16 years again the truck business it’s dead and it will be gone in about 4 years. The market it’s extremely saturated with all this immigrants drivers taking bad loads and bad pays so don’t do it .
I had to pause this when I hard him talk about your cost of 'gasoline' running a dump truck business. This guy has NO IDEA what he is talking about. There are people on youtube who make videos for a living. Its hard to come up with content so some people just do very superficial research on a subject, in this case different businesses you can start, and pretend they are offering you valuable advice. DO NOT take any business advice from these people, they do not understand the risks and pitfalls of what they are suggesting you do. I used to drive dump trucks and I currently own other businesses. I am not knowledgeable enough to give you advice about a dump truck business so this guy definitely is not.
@@nate_indiana_jones I did give advice below to the guy that asked you if he should take money from his retirement account to buy a truck and you didn't comprehend his question. Quit spamming youtube with these trash videos giving people wrong information about trades you know nothing about. I get it you want to be a remote digital nomad making money by doing nothing of value but giving people wrong information is negative value. Get a real job.
😂😂 I own multiple businesses. If you know so much about this, then why don’t you make your own video? Or make one with me. Most people are critics and not do’ers
@@nate_indiana_jones your comment section is full of people saying your info is wrong. Maybe try reading the room. Stick to what you know and stop pretending on RUclips that you’re something you’re not, it’s misleading and dishonest. I watched your video thinking I might learn more about an industry I’m somewhat familiar with and instead I felt like my time was wasted by someone talking about something they know nothing about. Talking bs doesn’t make you a doer it makes you a bullsh*tter. Me pointing that out doesn’t make me a critic, it makes me someone that doesn’t like bs or time wasters
@nate_indiana_jones Nate Jones needs to remove this entire video. It is full of misguidance and falsehoods. He has no clue which end of the truck to load let alone how to drive the truck. His price "facts" are WAY WAY OFF as are his income numbers. First off, a Triaxle that is usable and not needing a complete overhaul to include the bed floor for 100k USD is absurd. His "gas" fuel cost and usage is so off base it's not funny. If you follow any of his advice, you will be broke down in your first day and broke in 30 days.
Thanks for the insight, obviously, every business is different. Every state is different. It is really hard to make a video and include every tiny little detail within 8 to 10 minutes if you think the video is so wrong, I would invite you to do a video with me over zoom. Usually, when I offer that the person never accepts, because all they want to do is criticize other people who create while they hate.
Well, let's see..... I work 530am to 530pm driving a dump truck 6 days a week plus travel time to and from the house. When would you like me to find the time to educate you on an industry you have no idea about? As for different states dump truck business being different , there you go again showing your ignorance of the industry. A dump driver from Ohio could come down to where I am and be just as comfortable as if her or she were in their own home territory. Rock is Rock, Hot Rock is Hot Rock, fuel is fuel no matter where you are the basics are the same . maybe if you ask people in the industry who work the industry you might have been enlightened prior to making a complete fool of yourself. Stop trying to make content about things you know nothing about just to keep getting views by which you get paid thru RUclips. @@nate_indiana_jones
@@nate_indiana_jones The “little” details are the difference between someone making money or losing their shirt. No serious person in business calls those little details. You are “creating” misleading content and you don’t learn from the people correcting you in the comments you so why would anyone want to do a video with you? What kind of a man calls it “hate” when others correct your lies and misinformation? That’s weird behavior dude.
I own OTR small fleet, my only issue is is there any bidding for these lanes or contracts would love to connect with you for insurnace also based off NYC currently
@@nate_indiana_jones is there any email or contact? I am currently planing to open a dump truck company in nyc my trucking company is based off of New Jersey, will start off with two trucks first but brand new so don’t know much of how it works.
$250k a year per truck gross is about right. After all expenses, driver pay, all insurance, maintenance etc, it’s around $100k net profit a year, to the company. Great video. Keep it up 👍
Thanks, great business to be in. Definitely have to commit to scaling.
How do you get loads of
@@JacobGardner-v9preach out to other local dump truck companies, excavating companies, General contractors, anyone in construction that might need dirt moved.
Is this 5 yrs ago when drivers would work for relatively less and fuel was a whole lot less?
@@bensanders7392 how much are you assuming drivers make in todays market?
Great Video. Im strongly considering starting a my own dump truck business. I'm currently working as a garbage man and made 115k in 2023. My goal is to make more money and also have more flexibility with my time in the future. I have some savings and am looking to talk with someone who has experience with owning a dump truck in chicagoland. i will consider paying for time and wisdom and knowledge of starting a successful dump truck business in Chicago. Thank you God Bless.
Thanks! I will ask around and see if I know someone in your area.
I had no idea there was this much money in the dumb truck businesses. I am sure it is hard to scale.
Hard to scale and tons of unforeseen expenses. It’s a gamble.
Yep you keep about 40% thats what a old trucker told me 30 years ago! I ran my own trucks for 30 years and he was right
40% profit margin?
@@nate_indiana_jones That is absolutely incredible.
I always heard if you wanted to make a million dollars in trucking you should start with two million.
😂😂 true!!
Thank you Lord Jesus for the gift of life and blessings to me and my family $14,120.47 weekly profit Our lord Jesus has lifted my Life am no longer a truck driver!!!🙏❤❤❤
Keep it up!
I'm 37 and have been looking for ways to be successful, please how???
How?
@@nate_indiana_jones💯
Sure, the investment-advisor that guides me is..
Add'l mo exp: Maint ($1,000), repairs ($1,500). You may also have a parking & broker expense.
Good point! Thanks!
I’m looking at all these comments and I’m seeing a shit ton of Owner-Operators complaining about the numbers. If the dump truck business was trash, it wouldn’t be in business. Majority of yall don’t know how to operate a business in general and are in the comments complaining .. what is up wit yall?
People who never do anything love to tell you why. They never realize things are easier than they comprehend. It’s the man in the arena who gets the glory.
@@nate_indiana_jones yeah man totally. I know this business is profitable if you play the numbers game right. I used to be in construction and the drivers used to tell me they were charging my company that I worked for $110-120/hr. If you stay busy and market yourself right, u can do that 6x a week 8-10 hrs. A day! It’s LUCRATIVE!!
Thank you! This was very informative! I’m working on starting my business as we speak. I will definitely be contacting you!
Sounds great, I would be happy to help!
Trucks get $105/hr - $115 fuel burn for 8 hr day is around $400/day hired driver $27/ hr avg. hoping nothing happens to truck that day Not much of a profit. Still need to pay insurance plus your plate roughly $15000/yr this is the basic stuff there is more. I wish it was as easy as he says unfortunately, he is not even close
I agree, it’s a hard climate right now
Bro what?
105x8 hours =840
To fill at tank from E is 325 in jersey
That’s 530 profit a day that’s around 2600 after fuel a week… is 10k a month
That’s bare minimum that’s definitely a profit you must not have good money management skills🤣
And this is the problem. Apparently this truck drives itself and you have zero breakdowns oh and let’s not forget DEF fluid I see that was added into your price as well before you start pointing the finger and accusing of poor money management skills. Perhaps you should learn how to do math, and actually run a business the way it supposed to be and there is very little money to be made in the dump truck business and I’m guessing you don’t have a payment on that truck either or that would be calculated into it. Let’s start adding up the real cost and then talk to me about the profit.
@@LyleMarche bro I watched one of my friends Jcruz based out of New Jersey start with one truck in 2016 by the end of the year he had brought 4 more
Now it’s 2024 he has over 50+ trucks all brand new KW and couple Mack’s it’s definitely possible
You may be in a state that has poor rates but out here in jersey it’s good pay
DEF is cheap asf that’s not really a concern
The price I have is based of your rates
We make almost 1-1500 a day out here that’s normal runs
Asphalt for state is 150-280+ a hr
Asphalt for GC is about 80-150 a hr
And we have plants and quarries all over between Jersey and Pennsylvania
I started with a 2012 Mack I picked up for 5000 I put batteries, radiator, turbo, pdi turbo manifold for 2500 so 7500 for the truck, and a set of older belly dumps for 4000 dollars put 2000 into them so 6000 into the trailers insurance I paid 9600 my first year so that turns to be around 700 a month then 5000 down for fuel I held outside and 3500 for registration for the truck and trailer tags etc and the first year that truck and set of trailers paid them selves off and turned a profit of $112,000.00
Heck yeah! Great job!
When did you start? Do you still do it?
@@jenmarkosian8720 I started the business in 2018 and I currently run 35 trucks as of this year!
I was thinking about jumping in the dump truck business not buying no hundred grand truck though I’ll find a used one around 35 $40-$50,000 to start
Great idea!! Smart with a low expense and you’ll profit faster!
My brother that will be your 1st mistake buying a used truck the repairs that 1st year can make you go out of business if you don't have credit cards to fix them or money in the bank buy a new truck with full warranty as long as you making your payment if the truck break down you won't spend nothing fixing it in my case I never had a new truck quit on me the 1st year
I was thinking this, as well. The only hesitation I have is that "people sell their problems", and "put lipsticks on pigs". However, as long as we have a good mechanic (either friend or on staff), I guess it could mitigate the risk.
@@Gen_4927 A friend of mine runs about a dozen dump trucks. After running old trucks for more than a decade, he bought a relatively new one thinking, "Bite the bullet, pay more now, have less downtime and less cost in parts and labor"
He sold that truck. Turns out in the dirt world they break down just as much, but the parts and labor are far more money.
bro i spend 7k a month in gas alone, that doesnt include driver pay, insurance, tolls, breakdowns, tows. storage, tags, mmr, maintenance & taxes. business right now is pretty shitty
Yeah every state and area is different. Where are you located?
@@nate_indiana_jones Funny the costs he mentioned will apply to most people's business in most locations. Everyone has to buy fuel, insurance, repairs, taxes etc. They do not vary that much. If your video's magical revenue and expense numbers only apply in certain areas why didn't you tell us that in your video? Let us know what states and areas are making good numbers. You are offering people bad advice in these videos you make about business you know nothing about.
How do you make a month
7k in fuel not for one truck.
@@frankelse745 that’s only one truck
Missing regsitration, MMR, oil changes, tire changes, etc
Got it, I’ll have to remake it. Sorry about that.
😂@@nate_indiana_jones
Good advice, thank you.
Glad it was helpful!
Dear sir,
I hope this message finds you well. I’ve been following your journey in the dump truck business on RUclips and have been truly inspired by your success and insights.
I obtained my CDL-A license in 2018, but I haven’t utilized it as I was a teacher until recently. I made a quiet exit from teaching due to the constant scrutiny from superiors and the increasing difficulty of the job, despite my love for the students.
I am now seeking a career change into the dump truck industry and would greatly appreciate your advice on getting started. Specifically, I am interested in whether I should initially work for a union or non-union company. I’ve seen many trucks on the road and assume there are pros and cons to both.
Additionally, I’m curious if it would be wise to gain a year or two of experience before purchasing my own truck and starting my own business. I value being home with my family daily or every other day and want to ensure this career choice supports that goal.
Your guidance would mean a lot to me as I look for a positive change and a successful future in this industry.
Thank you for your time and advice.
John
John, thanks for the comment! I would recommend working for a local smaller dump truck company. Learning the business and then seeing if the business is something you would want to start. If it won’t fit your lifestyle then I wouldn’t start it.
I love how people that never did what they are talking about give advice. There are waaaayyy more expenses running a truck than that. Insurance seems a little low with a financed truck to me. DOT compliance, This video makes it seem like Class A dump trucks never need any Parts and repairs... the older the truck the more down time you will have. Everyone always acts like you're going to generate X dollars, because you can do this much work this many days a week. Driver Salary and workers comp in there too. Have you ever had to pay for an 11/24.5 tire repair on the side of the road? Also who is paying you? Is it individual accounts and customers? Then you will need to pay someone for billing and hope everyone pays on time.
Thanks for your insight, I always appreciate it when people provide their insights to how operating a dump truck company is going. How many years have you been running your company?
@@nate_indiana_jones I have been running dump trucks since 1998. Not necessarily in the way your video is describing. My trucks or mostly used for my own spoils and moving equipment. Your $252k is a very realistic number for gross sales, just not how much profit. I realize this number can vary depending on what state you are in, but I would guess someone grossing 250k is probably making 75-90k as an owner operator and that is working approx 60 hrs a week. Drivers by me make $1200-$1900 gross per week driving someone else's dump truck
Yes, the 252,000 that I mentioned is the gross sales. It would be very very hard to do $252,000 a year profit with only one truck that would likely take a fleet of 4 to 5 trucks, but then your labor cost it would be hard.
First, I stopped watching when you gave the estimated monthly fuel usage. Driving a class B dump truck locally. You use 40-125 gallons a day.
Got it, I will need to recreate it. Do you own a dump truck company?
@nate_indiana_jones I drive for a small drump truck company. For the last 5 months, I have been paying close attention to every aspect of the company. I watch my fuel cost, revenue to the truck, maintenance, and some other expenses.
Yeah. I use 60gal a day
Diesel, not Gas.
My bad, obviously diesel is used
As a 15 year owner/op of dump trucks in Canada. I can tell you without exception, operating costs of a tandem dump truck (assuming its fully paid off aka no truck payments) is around $70/hr (Thank you Trudeau for that ever increasing carbon tax). Not including a driver. So, for every 100 hours you work that truck, you can assume $7,000 in expenses, not including paying a driver. Most customers are contractors, and they pay between $90-100/hr/truck. That leaves $20-30/hr to pay yourself, put money away or pay a driver and break even for all the risk and stress. This guy is completely out of it. Or my market is total dog shit, probably a little bit of both. Trucking businesses are going out of business or closing their doors all over North America for a reason.
I used statistics in America, definitely different wherever you are.
@@nate_indiana_jonesstatistiques are the statistiques, and expériences are the expériences.
your numbers aren’t the NET
LOL youre in Canada, it's all people from India who run the trucks out of a church and use guys who work for nothing
You know i just did the math on your numbers.... that seems brutal. Is this based out of the GTA somewhere? I'd be curious to see if other markets are any better.
@@stktsocnswauwith Gas and the price of trucks cashflow is low. Also, your interest rate on the truck will kill you too.
Good evening, I congratulate you for your channel it is very helpful, I live in Minnesota and I would like to know if you know anything about employment
@victorgonzalez3900 thanks for the kind words! 🫡 are you referring to hiring?
Must be a Truck salesman !
Why do you say that? Wouldn’t know how to sell a truck. Too honest.
No he makes youtube videos for a living. Pretending he is too honest to do honest work, while making a video full of lies about how easy it is to make money with a dump truck.
I ran a Mack dump for several years,,an in 2000 it was hard to make 350, dollar's a day,,
Hey how about working as an operator for some time and buy an own truck after some time?
Great idea, it is always best to have money saved up and go into business with capital.
As a trucker and owner operator just don’t do it . This business it’s becoming the new McDonald’s stay away
New sub the numbers makes sense
Thanks! I appreciate it.
The information that you have given is not accurate. There are many more expenses and situations that must be considered to own and operate a tri axle dump truck. one large expense is the driver pay, this was not mentioned, this could be between 50 and $75,000 per year easy. The dump truck business is a very tough business to run as previously said, there are a lot of other issues that needs to be considered before buying a dump truck. Thanks, 51 years in the industry and counting!
Thanks for commenting, would you want to remake a video together? Would be happy to use your numbers.
Also, in the dump truck industry, we do not work every day. When is the snow time, you can be shouted down for months until the business comes back around March. The estimation you gave there is when you work the all year where it's really not the case.
@@BADIBANGAOlivier yeah every area in the US is different. If you are up north, less earning potential when it is cold.
This guy has no idea what he is talking about. He is a youtuber, just makes money making youtube videos. He should stick to advice on how to make money doing youtube videos. No blue collar knowledge or experience.
Привет, планирую заняться этим бизнесом, можно с вами связаться? 🤝
Buy a new truck during a construction boom, get stuck still making payments when things slow down
Yeah seems like that is an issue for people right now.
Everyone says buy a new truck, why can't I buy a sixty thousand dollar truck and run it?
I have been diving all kinds of class A and B vehicles (including) dump truck, roll off, flatbed, dump trailer, walking floor, ect. I know a lot of drivers and owners. I know very little about Maintenance and repairs. Was thinking about doing a 2 year diesel mechanic school of at the very least a 2 year auto tech school to save money on problems and repairs. Is this a good idea or should I just jump right into it?
I would make sure you have a lot of money saved up and connections for loads before starting.
4:20 -ish...that's a 20.2% profit margin per month. Did I do that right (4233/21000)? If I correctly calculated, that is incredible.
Nate - separate business of loads and owning a truck (2 businesses), or some other way?
You shouldn’t start a business if you can’t have at least a 20% margin.
You recommend starting a trucking business in the state of FL over the state of MA? Is starting a trucking business in FL worth it?
Florida still has a booming economy from a construction standpoint. This will likely help obtaining loads easier. That being said the insurance and operating costs are higher in Florida. I think it depends on where you would like to live. I am a firm believer that your business should revolve around your lifestyle.
How about a cash truck for about 50k and run through it with about another 20k? If i have that much cash available.
Yeah I would say $20k saved up and cash would be good enough to start.
Just buy a business with that money, use a 15percent down payment of what you have and keep some as an emergency stash. Its alot more lucrative than starting out from scratch
What about weather. Not much construction when it rains right?
I agree, depending on where you’re located. This can be an issue.
i'm starting to doubt your claims
you said gas or gasoline about a dozen times and diesel only once…
Diesel is a form of gasoline/fuel. Obviously trucks use diesel lol
@nate_indiana_jones Diesel is not a form of gasoline. Gasoline and diesel are different types of fuel.
@@casmaster if someone doesn’t know to put diesel in a dump truck then they shouldn’t be watching the video loo
@@nate_indiana_jones Fair enough. I was just correcting your reply where you said diesel is a form of gasoline
@@casmaster thanks, you are a noble man. May you correct the world my friend.
Do you offer a mentorship program?
I do individual mentoring, would be happy to see if there is a fit. I want to make sure I can help before mentoring. You can contact me on my website at natejonesentrepreneur.com
450 gallons "A MONTH" what is your operating range 5 - 10 miles? I currently drive a tri axle dump truck and run on average 250 miles averaging 8 loads a day 5 days a week and use 65 gallons a DAY in fuel running 2019 emissions equipped truck.
Where do you operate?
Tennessee@@nate_indiana_jones
Got it, yeah my estimate on gallons is probably off
tennessee @@nate_indiana_jones
This video is useless, he knows nothing about this business.
What kind of cdl is needed?
A
nate, you in calf?? in in LA right now B&R in Ct new haven
I am in the Midwest! Love going to LA though.
I have been doing this for 30+ years myself you left out a bunch of expenses profit margins are way off no disrespect but you left out a ton of stuff.
Yeah it is hard to include everything since every business is different. What did I leave out?
Привет. Можно с вами пообщаться на тему бизнеса самосвалов?
its called diesel bud
My bad, fuel, gas, diesel, whatever. I use it all interchangeably
Can dump truck owners make money renting their dump trucks out to drivers❓
Yes, but the insurance is still expensive and maintenance costs will kill you
@@nate_indiana_jones So the $1,500.00 you would get a week for renting a dump truck out to a driver wouldn’t be enough ❓
I have the money to buy the truck cash if I take it from my rrsps witch will cost me 30 percent in taxes , the truck is sixty thousand , witch is 18000 dollars in taxes but the interest rate over six years is almost twice that , do think it’s a good idea to finance the truck in this way ?
Why is the tax on the purchase 30%?
@@nate_indiana_jonespenalty to withdraw from a pretax retirement fund he has. Id say DONT touch the rrsp
This guy is not smart enough or experienced enough in real business to even understand you are suggesting taking money from a retirement plan to pay for a truck, which is why there would be a 30% tax. He doesn't know anything about trucking either, he is not a trucker he is a youtube video maker. You are asking a youtube video maker on the internet for advice on something so important as taking your retirement money and putting it into a very real, very capital intensive, risky and hard business.
My advice would be to save up enough cash or get financed on a truck and have working capital for things like repairs and slow months. Truck deals come and go plus the interest would be lower if you pay the loan off faster. According to this guy's video you'll make so much money you could pay the loan off in a year. Keep your retirement for your retirement and/or as a last resort rainy day fund. Most business startups fail, I've seen people take from their retirement to start a business a few times in my life and each time it failed, in part due to inadequate reserves when times got tough and one other time a guy had no experience in the business he was getting into. If you have no prior trucking experience you would need that also before starting, in the type of trucking you would want to do.
How do you find work for your dump trucks?
Call and work with local homebuilders, general contractors, property managers, other larger dump truck companies essentially any company that you could possibly think about that would need gravel or dirt moved. That’s who you should reach out to.
I don't hear the driver salary taken out of the expense numbers.
1 truck, owner is driver
Does this applies for end dump bussines as well ?
Somewhat, less initial investment, longer range, you can haul scrap too.
How do you find work, a dispatch, pricing in the area we live in, etc as new dump truck owner operator
Call the larger dump truck companies and see if they can give you some of their loads. They will dispatch some of their loads. Call the larger highway contractors and see if you can haul for them or who you should reach out to. Compile a whole list and ask what they pay.
@nate_indiana_jones i was able to get 2 dispatcher numbers so far. I service heavy equipment. So i started talking to the belly dump drivers. They gave their dispatch number. Now ill call around. I haven't bought a truck yet untill i get solid contacts.
Great plan! Get everything set up and planned then buy your truck as the last step. So many people do the opposite!
Where did you get the job and contracts?
Reach out to aggregate companies, larger dump truck companies, home builders, general contractors, excavating companies, etc.
This guy has no trucks I don’t believe. Sounds good but that’s not the game I play everyday. Maybe I should change so things
Thanks for commenting, every business is different, I used averages so things are not always super straightforward
Unrealistic numbers, I didn't even get half way through and knew you were way off. If your making 252k your working day and night as a owner operator. And thats if your in a state that has no winter or spring.
Every location, every business, and every operation is different.
What's missing is the taxes!
Talk to your CPA about that!
What size of a truck are we talking about? Difference is also what are you hauling. Are you hauling customers load or are you buying and selling gravel/sand. I charge per distance base-loading-unloading-base. Additional charge for over 2h waiting time.
Yeah there are a ton of factors here that are hard to put into a 10 minute video. Do you own a dump truck company?
Do you only provide insurance or dump trucks?
I own an insurance agency and some other businesses. I do not own a dump truck company.
Well, he might know numbera, but I doubt he knows anything about trucking of any kind. most if not all commercial trucks use diesel, not gasoline.
👍🏻
Clickbait!!! you'll be lucky to make $80,000 after expenses.
Depends where you start it
Only 5 loads a day?
How many do you do?
I meant, can’t I do more than just 5 loads? Say If I started at 6am in the morning and went till 4pm for example
@@nate_indiana_jonesI guess it also depends on the distance of the Pickup and dump site
Yes, you could probably do more but you can also get burnt out pretty quickly if you’re hitting it every single day. I tried to provide a realistic number.
Ok.
This guy lost me at “gasoline costs”
Fuel, gas, diesel, etc. if you stop when people say one thing that isn’t to your standard you probably never learn.
100k for a truck naw 30k smh lol
Does the $30K truck run?
@@nate_indiana_jones my 9lder friend paid 20k 😂 so yeah 100k to start is not smart major debt don't be stupid use common sense buddy
I agree, if you can find a good truck for $20K do it! You should resell them man!
Hey, where do u live ? Canada?
United States, Midwest.
😅
🫡
As a trucker for 16 years again the truck business it’s dead and it will be gone in about 4 years. The market it’s extremely saturated with all this immigrants drivers taking bad loads and bad pays so don’t do it .
Yes, there are negatives in every business but there are positives. You can still make great money.
I had to pause this when I hard him talk about your cost of 'gasoline' running a dump truck business. This guy has NO IDEA what he is talking about. There are people on youtube who make videos for a living. Its hard to come up with content so some people just do very superficial research on a subject, in this case different businesses you can start, and pretend they are offering you valuable advice. DO NOT take any business advice from these people, they do not understand the risks and pitfalls of what they are suggesting you do. I used to drive dump trucks and I currently own other businesses. I am not knowledgeable enough to give you advice about a dump truck business so this guy definitely is not.
It is easy to be a critic, why don’t you actually comment some real advice then? What did I specifically get wrong?
@@nate_indiana_jones I did give advice below to the guy that asked you if he should take money from his retirement account to buy a truck and you didn't comprehend his question. Quit spamming youtube with these trash videos giving people wrong information about trades you know nothing about. I get it you want to be a remote digital nomad making money by doing nothing of value but giving people wrong information is negative value. Get a real job.
😂😂 I own multiple businesses. If you know so much about this, then why don’t you make your own video? Or make one with me. Most people are critics and not do’ers
@@nate_indiana_jones your comment section is full of people saying your info is wrong. Maybe try reading the room. Stick to what you know and stop pretending on RUclips that you’re something you’re not, it’s misleading and dishonest. I watched your video thinking I might learn more about an industry I’m somewhat familiar with and instead I felt like my time was wasted by someone talking about something they know nothing about. Talking bs doesn’t make you a doer it makes you a bullsh*tter. Me pointing that out doesn’t make me a critic, it makes me someone that doesn’t like bs or time wasters
Would be happy to have you in my podcast and ask you questions about the business. Would you want to come on?
@nate_indiana_jones
Nate Jones needs to remove this entire video. It is full of misguidance and falsehoods. He has no clue which end of the truck to load let alone how to drive the truck. His price "facts" are WAY WAY OFF as are his income numbers. First off, a Triaxle that is usable and not needing a complete overhaul to include the bed floor for 100k USD is absurd. His "gas" fuel cost and usage is so off base it's not funny. If you follow any of his advice, you will be broke down in your first day and broke in 30 days.
Thanks for the insight, obviously, every business is different. Every state is different. It is really hard to make a video and include every tiny little detail within 8 to 10 minutes if you think the video is so wrong, I would invite you to do a video with me over zoom. Usually, when I offer that the person never accepts, because all they want to do is criticize other people who create while they hate.
Well, let's see..... I work 530am to 530pm driving a dump truck 6 days a week plus travel time to and from the house. When would you like me to find the time to educate you on an industry you have no idea about? As for different states dump truck business being different , there you go again showing your ignorance of the industry. A dump driver from Ohio could come down to where I am and be just as comfortable as if her or she were in their own home territory. Rock is Rock, Hot Rock is Hot Rock, fuel is fuel no matter where you are the basics are the same . maybe if you ask people in the industry who work the industry you might have been enlightened prior to making a complete fool of yourself. Stop trying to make content about things you know nothing about just to keep getting views by which you get paid thru RUclips.
@@nate_indiana_jones
Thanks for the insight, hope things work out for you.
@@chriskilga9708start your own RUclips channel to show people how it’s donne.
@@nate_indiana_jones The “little” details are the difference between someone making money or losing their shirt. No serious person in business calls those little details. You are “creating” misleading content and you don’t learn from the people correcting you in the comments you so why would anyone want to do a video with you? What kind of a man calls it “hate” when others correct your lies and misinformation? That’s weird behavior dude.
I own OTR small fleet, my only issue is is there any bidding for these lanes or contracts would love to connect with you for insurnace also based off NYC currently
Definitely would be happy to help.
@@nate_indiana_jones is there any email or contact?
I am currently planing to open a dump truck company in nyc my trucking company is based off of New Jersey, will start off with two trucks first but brand new so don’t know much of how it works.
Yeah, you can send me an email at njones@wexfordins.com
I was thinking about jumping in the dump truck business not buying no hundred grand truck though I’ll find a used one around 35 $40-$50,000 to start
Great idea!! Smart with a low expense and you’ll profit faster!