RETURNED THE RENTAL MY MISTAKES AS BOX TRUCK BUSINESS OWNER
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- Опубликовано: 19 дек 2022
- FUEL COST WEEKLY: 600-1K WEEKLY DOING AMAZON RELAY + IN OTR
THIS VIDEO I SHARE LESSONS + TIP FOR GETTING INTO THE BOX TRUCK BUSINESS 
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THANK YOU SIS!!! People think this business is a gold mine. The expenses you pay in this business are ridiculous! I got into this business because it was hyped it up to me but now week to week I'm trying to keep my head above water to maintain.
No lie there. You got this 💪
I just started a trucking business with my brother. We bought a semi truck. I’m a truck driver but we both have jobs that pay well to help support the business. I’m currently a transit bus operator, and a barber/cosmetologist and my brother is a lineman for the electric company. I won’t start running loads for my company myself until it starts taking off , if at all….We just hired a driver and we own our equipment, we paid cash. My sister in law is dispatching for us. You’re absolutely right about what you’re saying. It’s been an expensive ride already but I’m not new to business ownership. I’ve owned a salon for some years.
Sounds like your on the right path. Keep doing your thing Miss Ivy. Teamwork and strategy is very necessary.
Thank You... I have subscribed to your channel and I'll be buying a box truck in 2 to 3 months...
oh snap I know ur excited ! Ownership is key .Time to rise and get it popping King. thanks for the subscribe .
You are 💯 percent right I am going to give you my respect because I was out big money on my lease and you are correct I got 25yrs in the game but I still love it
Your a beautiful woman...I love your strength and your desire...thank you for sharing your experience and your knowledge...first off, the rental scheme is not a good business model, it will be cheaper and thus more profitable to finance your truck...the payments are lower, and you make more than renting, plus the truck is yours and you will have some equity in the business.. ..so I suggest you save enough to put a down payment on your moneymaker, the truck..renting a truck makes money only for the owner (rental company)...once you decide to to be a business owner, make the right decisions...dont rent a truck....you are only making money for the truck owner..I can tell you the rest, but this is enough for now...God bless you, keep you and your daughter safe...and prosperity be your reward...
aw thanks for the beautiful kind words and wisdom. Definitely agree the with financing aspect
Find a rental.. get a mentor.. and run up the bag..
Love the breakdown..this is why i’m waiting a little before i jump in. I have a cdl but wanted to purchase my box truck and do it part time as i have a great paying full time job. But, the rates and overhead not mathing right now!
Congrats on having your CDL. That is a good asset to have. Yeah it’s the best time to wait to get into the game. Just watch the industry if it’s shifts anytime soon.
Ive always seen the box truck rental game as a scam.The numbers just never made sense to me. I just finished my first year running under my authority and it's been quite a struggle to say the least and I own my truck. If I had to pay cost for a rental there's no way I could turn any kind of profit. It would be mathematically impossible. My advice, focus on getting your credit in order and see about getting a loan/line of credit from your bank. This way you won't be paying outrageous interest rates. And also, like she mentioned in the video, have around $8,000 to $12,000 liquid to absorb the shock of the learning curve when you're first getting started.
I agree with on all you mentioned; facts for sure.
Congrats on your first year !!! that's a big deal
Appreciate the transperancy
I had to keep it real.I appreciate you for watching
Thanks for sharing sis
Good info
I had to return my car go van rental back in February and found out the hard way it was the slow period. Now will lease or buy just need the funding for the truck have everything else for my box truck business d
So I understand what you're talking
totally agree with buying. Keep me updated how everything flows.
Keep Going! Blessings From SC
Thx love most definitely will. Thank you for watching.
Sooo much value 🙏🙏
AW THANKS
Thank you for sharing! Still rooting for you ❤
I appreciate that Tamika
Good facts I been driving semi for 15 years and was thinking of going to box truck
hey there George; congrats on being in the game for 15 years , what interests going from semi - box truck . love to hear your perspective
The rental game will screw you, I had a enterprise rental and ended up in heavy debt with credit cards. She ain't lying at all. Great video
No lie, a journey with challenges. Are you considering getting back running?
Thx for sharing. Good video.
Thanks for watching!
Good video.. thinking about leasing. I have the bread to buy but I don’t want to throw all my eggs in one basket yet
Great video, thanks for sharing 👍
Thx for watching ❤️
Entrepreneur life!!!❤️💯 Great video and insight!
Thanks for watching to the end. I appreciate you happy new year.
@Delia Divine my pleasure and Happy New Year to you as well wishing nothing but peace, good health and prosperity to you and your family!
Nice video. My “why” was the same reason as yours. Turned our Enterprise truck in as well. Too costly.
Understandable.
I'd find alternate ways to still keep things running and keep your why in mind.
thanks for watching Alacia.
Thanks for your transparency.. Lot of RUclipsrs flooded the net with lies, post videos for the good weeks but never tell the real stories. I remember asking a RUclipsr named box truck shorty who said he made million running amazon relay with rental truck , paying drivers and 3 trucks … The only way you can be profitable in the current market is to own your truck and be selective on loads you run .. be very efficient
He Fails To Mention To That That Million Dollar Gross Was A Year Or 2 Years Ago. Amazon Not Paying Good Anymore
I had to keep it real even if it came off harsh. Strategy & ownership is key! thanks for the feedback
You simply can’t make money using a rental unit unless you have a dedicated run for a company and even then you will only break even at best….When you have someone else driver your truck then the money is split and you even make less….Companies can’t even find reliable drivers so why would this driver drive for you if he or she could drive for a company and make more money..Its because they aren’t reliable …This is every driver and entrepreneur dream to own a truck and have some sucker drive and make them a bunch of money….It just doesn’t work out!
Maybe you don't pay attention when box shorty talks. He never flat out and said a million. His first year he posted his gross which was under a million. Stop throwing that man under the bus because YOU haven't figured the game out. Last fact box truck shorty fluctuates his amount of trucks according to the his needs. He can have sometimes 3 - 10 that's he strictly rents.
Can’t rush to get in this business with a rental..you’ll never get the business off the ground and making a profit!
I agree thx for sharing
You are correct. You have to know your COST PER MILE and that is no joke.
facts
Entrepreneur life! I am thinking of getting into my own business. I just nailed a company job that will give me 6 figures. So im clearing my debt (past student loans, and credit card) and then saving to buy my box truck out as well as making sure i have funds for the actual business. My goal is 20k after i buy my truck and get all my stickers and paperwork. I want to have a load but have 20k in the bank just in case. This video was very helpful! Thank you
Sounds like a plan to me. Keep going and see it through
Thanks
No problem
Good video, partner is not always good opt
Yes, true, only if it makes sense .
Good insights. Pretty much to the point, music was annoying, but content was good.
Thanks for the feedback Jackie
Of course research has a lot to do with it, and yes we're not just doing it for the money either, it's not a job where traditional rules exist, being in business for your self carries the good with the bad.
sure does come with good and bad just gotta get stronger , thanks for the insight
You’d be better off working at Amazon as a warehouse associate part time than renting a box truck to do Amazon. Renting a truck is cool over the road if you grossing more than $6000 a week and keeping expenses low. I wouldn’t recommend renting to anyone that’s serious about the industry unless they’re renting in a emergency while they’re truck is in the shop. I recommend being a driver for someone first to learn the business.
LOL as the part-time worker tho..I feel you
great insight jimmy
💕💕💕🌴
I hope you not giving up…. Don’t quit now
Definately not giving up. Transportation has given me a new perspective on life and freedom no way going back.thats for your support.
You can claim all you spent on your taxes. Make sure you have a profit and lost page on your taxes. You have three years to claim your back taxes.
thanks for the info, I didn't know the length of time to file was that extensive.
@@DeliaDivine yes your losing money if you have a business and you don't have profit and lost page on your taxes. You can claim everything for the business, tag, money spent for the business, insurance down payment and regular payments, business trips, shoes, clothing for the business the list goes on and on.
@@klassyred8069 I had started to do the taxes and I can’t lie. It got intimidating , I stopped until I connect with a proper CPA to do the taxes,
I knew a lot could be written off, but what I didn’t know was about the profit and loss page
Do you have any recommended CPAs?
Everybody who's turns the rental in have ro understand there is no profit unless you're OTR..
Facts
Fuel !
yup 6-1k weekly
Facts!!!! U right sis, I had to put my authority on pause due to the lack of funds. The rental game is definitely a bad business move.
yes love lessons learned. keep going to find a alternate ways to the goal you know.
It's all scheme. I leased a truck and trailer and had to make a tough decision after starting in November to walk away from this hotshot (transportation) business. Great business and the money looks good but no profit right now.
I'm shocked to hear that, what were your challenges in the business?Was it the overhead?
@@DeliaDivine market is saturated with drivers which clearly makes rate go down. The rich are getting richer while everyone is getting by.
Rentals don't have to be 3000. I put 1500 down to get mine at Budget. Still not a longterm solution. Rental gets you in the game to learn but you won't be making more than 1000 a week profit if you are driving. With a driver there no profit in a rental. It's a break even pay all the bills situation. Buy a truck asap!
Facts
1. On the average how much do you spend on box truck rental ?
2. How do you take care of Insurance ?
As you make money each week, put money aside for insurance
I spent 50k on mine before I bought one I’m doing a video on it next
Looking forward to watching it
Box Truck Shawty swears by rentals and scales up or down depending on demand. Did you reach out to him as a mentor? Shawty says he can tell you hook ups on rentals. Just curious, because we have to help one another..
BT Shawty had his rates in place a long time ago. I think he said it was less than .10 a mile. All the rates changed drastically in April 2022. They went sky high due to the saturation in the game. I know someone who was starting up last June with a rental. $600 a week and .22 cent per mile. Plus if he went over the mileage cap, it would jump to .34 cent a mile. BT Shawty have hook ups but I bet they are no where near the rates he's getting.
I definitely plan on owning but gotta wait for the economy to swing out of this bear market.💯
I feel ya. I’m going to see what he’s offering when I return to Atlanta in the spring. I have a truck based in Ohio.
While I’m not knocking anyone’s hustle, I get it, but charging $3:5k for mentoring is crazy (not talking about Shawty, he coo, but he tight answering questions 🤷🏾♀️
Wishing you the best!
There’s still money to be made.
sure is, we all gonna win 2023 and beyond .
entrepreneur
much love
Great video! Do you offer paid consultations for individuals looking to get learn about or get in the industry?
Hey there, shoot me a email at Natafoster 93@yahoo.com with your questions to point you in the proper direction to see how I can help.
How much were you working a week if you don’t mind?
Leasing is better than renting for sure; save as much as you can before heading out there.
My business ran 5-6 days out the week.
recommendation if you do not have a little knowledge of mechanics and a little computer technique you are in the wrong business.
I got the computer tech savvy on lock but the mechanics I'm learning
They want .60 to .80 cents per mile
Nah that’s wild which rental company wants $.80 and $.60 a mile?
@@DeliaDivineCertain Enterprise locations (certain states) cost that, unfortunately.
@@alaciasanders9611 that sounds like their regular rates for average customers using it for a move
Did you get another truck?
that's in the process, deciding whether just to go fully semi vs box truck both hold opportunities.
@@DeliaDivine becareful it's alot of benefits for the semi truck and down falls I have the truck and trailer. And the down payment for ins can be as low as 5 bands or more. Yes the load pays more but the setup and every day use is alot more than the box truck. And if your not driving it yourself that can cost. With my driver I lost over 20 bands in 2022 that should've been in my pocket. Ppl do not care about your equipment like you do. He was to lazy to clean the trailer and I purchased a cordless blower, I paid to wash it and he couldn't do that, I purchased over $100 in cleaning supplies and when I let him go those were still in the truck. I almost cried to see the inside of my truck when I let him go. I even put a TV in the truck for him the list goes on. I'm hear if you need me for info.
@@klassyred8069 I love your insight. I know you were mad for sure. When you invest money, it hits different . Would you run your own truck? That’s the plans I have for mine.
Stop scaring people. Nothing in life is easy. It cost money to make money.
Thanks for the advice though
This is why I’m starting out with rental and see how it goes. But I still feel like you can’t make money without money.
do your thing and make it happen
I had worked for my cousin under his authority with a box truck and it was definitely a hustle I can truly say. But, I would literally hit every state weeks by week chasing the good loads and some were bad weeks and some were super good. It’s something that’s not calculated on an average I would say. But, I turned around and got my authority and was looking for trucks here in SC and they were charging around 3k a week without insurance costs 🫠🫠🫠 so I’m just at the point of chilling and waiting until the rental market comes back down. But I personally brought home 19K in 3 months. And the truck made around 60k. It’s definitely not a get rich quick scheme, but truly a hustle. Ready to get back to it though.
Definitely not to get rich quick scheme but worth it for sure. My hustle is completely different since experiencing this
Thank you for the awesome video. Information is absolutely priceless. From one Entrepreneurial Mom to Another. 👍🤓🦾👏
aw thanks much appreciated
I always knew renting isn’t the way
I had to start somewhere. took a risk and learned lessons. Thanks for watching.
@@DeliaDivine find a way to pay cash and get back out there
@@johnbrownlee987 for sure that is the goal. Thank you for the encouragement.
Small 🤏 RUclips tip. Look at the lense not yourself on the screen. Honestly I seen too many people jump in and not have nearly enough money to actually survive. I tell people you need 25k-50k in the side. Basically you need a years worth of bills and maintenance.
thanks for the tip. saving money can is key.
No one can realistically have that saved up in todays day n age unless they come into a large sum of money. Just do your due diligence m/research and save at least 10k