The pay makes sense to me right now. Let your company keep the money to maintain the truck trailer etc. eventually it’ll be able to afford another truck and driver. Sacrifice now benefit later .
Exactly man that’s what i been doing for a while i believe if i sacrifice 10 years of my life working hard and not spending a lot of money the rest of my life will be a lot easier
Great video, hopefully things get better soon. I personally would NOT recommend ANYONE getting into TRUCKING with the rates being so low right NOW. If you have equipment payments and no contractual freight agreements, it will be difficult.
I agree with what the other guy said 900$ for an oil change is completely unacceptable. That is something you need to learn to do on your off time. No where did you mention TAXES; don't forget Uncle Sam because come tax season that will be a big chunk of profit if you're not paying quarterly!
Yeah that’s the reason I am paying myself so low cause I’m not sure about how much taxes I need to pay but hopefully wouldn’t be much cause I’m not really making much
A good cpa will make you or break you. Look into getting your llc taxed as an s Corp, make sure you use every deduction allowable under the sun. Including the 10k breakdown find. Use something like cam scanner to keep every receipt nicely stored. Taxes ain't so bad in trucking untill you get to make some major bank. That won't happen for a while and you got time to plan till then.
@@johnjohnsons9822 yeah man i make sure to keep every receipt that’s a business expense even a 2 dollar one what is a 10k breakdown can you tell me more about the deduction i can use as an owner operator.
Shoot for $2.40 cpm all miles including dh. I've been doing this under my authority for 10 years. I track everything including meals. I've always had a new truck my first truck payment was $2,450 for 6 years I didn't have a truck payment for 2 years Now I've got a w900 and my payment is $3,050 And with all of that my average cost per day to operate is $650 a day with fuel and $400 a day without fuel Short loads need to pay much more than $2.40 a mile you need to be shooting for the $650 average and then if you want to make $300 yourself you need to have $950 to $1,000 bucks or more if you can swing it from the broker on 200 to 300 miles. It can be done don't sell yourself short. Quit using dispatch services, you don't need them. You have a truck and brokers don't, they need you to move their freight. If it was easy and trucking they would own the freight and the truck But they know they can't make any money on the truck side so they just try to scam you
It’s good and bad. You are sacrificing to build a company in a terrible market and things will get better as they have in the past. But the future is never for certain
@@TruckItTillYouMakeIt Most auto parts store it's free. AutoZone, O'Reilly, Advance etc. You may even check at the truckstop to see if they offer the free service.
Most companies don’t make any profit until driver reach 10k miles a month think about it if you gross more your fixed costs will stay the same and the company will be more profitable
Your variable cost will increase and that would offset the extra $ you make by pushing 10k miles more frequently change oil tires brakes shocks air bags and much more
Well it really depends how low if I would take that load to MD for 1.65 I would only get 1.49 after dispatch and factory which would effect the gross numbers but wouldn’t change the net that much I’m also thinking the wear and tear on the truck
You have to learn how to negotiate your rates because you’re giving money away to vatali or whatever his name is (No disrespect) for the same cheap loads that you can get yourself. You have to multitask with this market. Good luck
Yeah you are right I think they got me with their marketing skills claiming that it’s better with them sometimes maybe but most time it’s BS plus a 7 percent is just so much today’s rates can’t support a 7 percent dispatch fee
You are good guy and hardworking but sadly you better be company driver not worth it you are working volunteer work,and is going bad for very bad to stay as owner operator good luck and be safe
I stop listening to this young man and quickly text some facts hope he can read this. He seems to be a nice young man. I know these are bad times but some people are making a killing still in these so called horrible times. He stated he paid himself $2000. I did flat bed as a company driver and I made every week between $1800 to $3000 net not gross. If twenty days multiply any about mentioned by 3 and that were my earnings for 20 days as a company driver. 65 cent as flatbed driver is not good too much hard labor involved. Pay should be around 90 cents per mile. I understand companies are paying 65 cents that is because they are scamming drivers.
You are right I do pay myself so low considering I do so much more than just drive I do all book keepings plus little repairs here and there but the reason is I have a very basic life I I don’t need much money to make ends meet I sleep better knowing I have money in business saving just in case something goes wrong
@@TruckItTillYouMakeIt I didn’t say or mentioned you are paying yourself low. The reason for my answer was that they are paying you low or not enough - someone or broker is keeping the bigger chunk. That is the reason I contested. Flatbed trucking is hard with lots of responsibility and surrounded by danger. It should pay well!
@@no-_-limits oh absolutely i see what you’re saying now the flatbed driver deserves to get paid more around 85 to 90 cent because a lot of responsibilities with securing the load and the physical work it take sometimes more than 2 hours of hard work to secure and tarp under the sun but the market just not paying enough
Yeah well obviously everyone’s taxes gonna be different I talked to my tax accountant and he said since it’s my first year and have no idea how much our earnings gonna be we can wait until the end of the year to calculate depending on how much we make this year we might need to make a quarterly payments next year
@@TruckItTillYouMakeIt I understand. I really do appreciate all your videos. Stay strong and try to hang in there. Things are even difficult for me right now as a company driver.
Grow a company is a pipe dream. I enjoy watching your videos. My advice is to sell at a loss your equipment and go back to milk hauling or something easier. Good luck
It is man I don’t see a light at the end of the tunnel but it is so early to give up I’ma go for at least a year but already making exit plans in my head if it doesn’t change by a little after year mark ima try to head out with the least lost possible
Was that 900 at a TA or a Mack dealership? My cascade is 450 with the truck and trailer getting greased . You need to stay in the Midwest and south . Also snow is coming
The pay makes sense to me right now. Let your company keep the money to maintain the truck trailer etc. eventually it’ll be able to afford another truck and driver. Sacrifice now benefit later .
Exactly man that’s what i been doing for a while i believe if i sacrifice 10 years of my life working hard and not spending a lot of money the rest of my life will be a lot easier
Great video, hopefully things get better soon. I personally would NOT recommend ANYONE getting into TRUCKING with the rates being so low right NOW. If you have equipment payments and no contractual freight agreements, it will be difficult.
Exactly man the chance of making it in this market is so low almost impossible but hopefully it gets better i know it been like this for a while now
That's my goal, I have a feeling things will get better
Hell yeah man good luck for sure it will eventually get better can’t stay like this forever
I'm in the same boat, same plans. Keep Truckin we'll make it!
Hopefully man good luck to you as long as we have hope that’s all it matters if there is a will there is a way
I agree with what the other guy said 900$ for an oil change is completely unacceptable. That is something you need to learn to do on your off time. No where did you mention TAXES; don't forget Uncle Sam because come tax season that will be a big chunk of profit if you're not paying quarterly!
Yeah that’s the reason I am paying myself so low cause I’m not sure about how much taxes I need to pay but hopefully wouldn’t be much cause I’m not really making much
A good cpa will make you or break you. Look into getting your llc taxed as an s Corp, make sure you use every deduction allowable under the sun. Including the 10k breakdown find. Use something like cam scanner to keep every receipt nicely stored. Taxes ain't so bad in trucking untill you get to make some major bank. That won't happen for a while and you got time to plan till then.
@@johnjohnsons9822 yeah man i make sure to keep every receipt that’s a business expense even a 2 dollar one what is a 10k breakdown can you tell me more about the deduction i can use as an owner operator.
Shoot for $2.40 cpm all miles including dh.
I've been doing this under my authority for 10 years.
I track everything including meals.
I've always had a new truck my first truck payment was $2,450 for 6 years
I didn't have a truck payment for 2 years
Now I've got a w900 and my payment is $3,050
And with all of that my average cost per day to operate is $650 a day with fuel and $400 a day without fuel
Short loads need to pay much more than $2.40 a mile you need to be shooting for the $650 average and then if you want to make $300 yourself you need to have $950 to $1,000 bucks or more if you can swing it from the broker on 200 to 300 miles.
It can be done don't sell yourself short.
Quit using dispatch services, you don't need them.
You have a truck and brokers don't, they need you to move their freight.
If it was easy and trucking they would own the freight and the truck
But they know they can't make any money on the truck side so they just try to scam you
Yeah Im trying now that I’m able to set up with more brokers i can see how i get better rates
Which load board are you looking at? We get loads for 3-3.50 a mile lol
For flatbed? You hauling nukes or what?
Lol might be hazmat
I use truckstop what do you have i got a basic membership and the area also matters plus the age of the company
It’s good and bad. You are sacrificing to build a company in a terrible market and things will get better as they have in the past. But the future is never for certain
$900 oil change is unacceptable
Absolutely, he's gotta watch a RUclips video and start doing that on his own.
Yes ima post a video about it soon explaining how it happened
I am going to on my next oil change I’m just not sure where to dispose the oil properly
@@TruckItTillYouMakeIt Most auto parts store it's free. AutoZone, O'Reilly, Advance etc. You may even check at the truckstop to see if they offer the free service.
Most companies don’t make any profit until driver reach 10k miles a month think about it if you gross more your fixed costs will stay the same and the company will be more profitable
Very true
Your variable cost will increase and that would offset the extra $ you make by pushing 10k miles more frequently change oil tires brakes shocks air bags and much more
Well it really depends how low if I would take that load to MD for 1.65 I would only get 1.49 after dispatch and factory which would effect the gross numbers but wouldn’t change the net that much I’m also thinking the wear and tear on the truck
Where do you get loads from?
Load boar 100% spot market
ty for sharing.
Thanks for watching!
Don't torture yourself, Amazon now pays 1.99-2.20 for contract cargo
Cant make Amazon contracts if the MC is less than 180 days old i have a week left
You have to learn how to negotiate your rates because you’re giving money away to vatali or whatever his name is (No disrespect) for the same cheap loads that you can get yourself. You have to multitask with this market. Good luck
Yeah you are right I think they got me with their marketing skills claiming that it’s better with them sometimes maybe but most time it’s BS plus a 7 percent is just so much today’s rates can’t support a 7 percent dispatch fee
You are good guy and hardworking but sadly you better be company driver not worth it you are working volunteer work,and is going bad for very bad to stay as owner operator good luck and be safe
Thanks man yes the times are though I’ma hang until a little after a year to see if it gets any better if not I’ma head out back to moving tankers
Why are you paying dispatch fees if you own your own MC? Dispatch companies are a scam.
I don’t think they are scam but they are overpriced for sure at 7%
My Uncle is O/O for 20 years and has own MC number and doesn't even pay a dispatch company. They pick from load board and communicate directly.
I stop listening to this young man and quickly text some facts hope he can read this. He seems to be a nice young man.
I know these are bad times but some people are making a killing still in these so called horrible times.
He stated he paid himself $2000. I did flat bed as a company driver and I made every week between $1800 to $3000 net not gross. If twenty days multiply any about mentioned by 3 and that were my earnings for 20 days as a company driver.
65 cent as flatbed driver is not good too much hard labor involved. Pay should be around 90 cents per mile.
I understand companies are paying 65 cents that is because they are scamming drivers.
You are right I do pay myself so low considering I do so much more than just drive I do all book keepings plus little repairs here and there but the reason is I have a very basic life I I don’t need much money to make ends meet I sleep better knowing I have money in business saving just in case something goes wrong
@@TruckItTillYouMakeIt I didn’t say or mentioned you are paying yourself low. The reason for my answer was that they are paying you low or not enough - someone or broker is keeping the bigger chunk. That is the reason I contested.
Flatbed trucking is hard with lots of responsibility and surrounded by danger. It should pay well!
@@no-_-limits oh absolutely i see what you’re saying now the flatbed driver deserves to get paid more around 85 to 90 cent because a lot of responsibilities with securing the load and the physical work it take sometimes more than 2 hours of hard work to secure and tarp under the sun but the market just not paying enough
Yeah that is rough, and you didn't even cover paying taxes.
Yeah well obviously everyone’s taxes gonna be different I talked to my tax accountant and he said since it’s my first year and have no idea how much our earnings gonna be we can wait until the end of the year to calculate depending on how much we make this year we might need to make a quarterly payments next year
@@TruckItTillYouMakeIt I understand. I really do appreciate all your videos. Stay strong and try to hang in there. Things are even difficult for me right now as a company driver.
@@censoredeveryday3320 Thank you so much i hope things do change and get better for all of us
Grow a company is a pipe dream. I enjoy watching your videos. My advice is to sell at a loss your equipment and go back to milk hauling or something easier. Good luck
It is man I don’t see a light at the end of the tunnel but it is so early to give up I’ma go for at least a year but already making exit plans in my head if it doesn’t change by a little after year mark ima try to head out with the least lost possible
Was that 900 at a TA or a Mack dealership? My cascade is 450 with the truck and trailer getting greased . You need to stay in the Midwest and south . Also snow is coming
Random local shop man I’ma post a video about it soon explaining how it happened
You are going to go broke driving for that.
I might