Would love a video on calculating fuel surcharges. These owner operators need it because unless we all get on board the brokers will continue to screw us.
Excellent "drop the mic" 🎤👊 moment right there at the end! Gupreet, you are _"giftedly"_ intelligent with both _understanding_ and _explaining_ these concepts of economics as they relate to the trucking and logistics industry. Keep it up and keep improving!
I just completed a 4,000 (loaded) mile trip over 16 days (1 April thru 16 April) with 4 days OFF. I spent just under $3,000 in fuel and took 13 loads from Texas, thru Louisiana, Mississippi, Alabama, Georgia, Mississippi, Louisiana and back to Texas. I averaged a little over 40,000 lbs cargo. The secret to maintaining profits is simple: Negotiate carefully: My gross sales were $16,195 and fuel cost was under 19% even at $5/gallon. I watched my RPM (keep them above lugging (1000) and OUT of the power zone (1500). That speed is around 62 MPH. There were times when I had to run 65 MPH but I only did that when I absolutely had to vs all the time like I see a lot of truckers. Because I'm an O/O saving fuel increases my profits SIGNIFICANTLY. Here's the thing: I'm ALWAYS light on the pedal - not just when fuel costs are high so those old habit$ (of patience) are paying off nicely. Some of my competitors (flatbed and stepdeck) may be unintentionally eliminating good profits when it's easily avoided. I'm also in a well maintained 28 year old truck so reliability is far easier for me than some of the modern doohicky bs on the new trucks.
This is super important to note. Most fuel costs can be mitigated through careful and intentional fuel maintenance when driving. If you’re an O/O, it’s in your best interest to learn how to do this. Great work!
@@Gill22 // ...and if gross sales are HIGH, fuel takes on le$$ importance. Wait there's more. If you then slow down on the speed and RPM, your profits can fly even higher. For company driver's - tell your employer to offer bonuses for fuel savings. This helps on maintenance as well.
As someone who just wants to get into it for the first time. I was considering getting my first truck. Here in Canada you don't need a CDL if the GVWR is 26000 or less. Would you recommend an F450 with an 18' Flatdeck as our first truck? We are hoping to start out with that and work on keeping it on the road full before we get a second truck. Thanks in advance.
Still a good idea to get in! Margins right now will be really tight but if you’re serious, you’ll build up great habits. Track your fuel efficiency, build a network of for your core team (shippers, brokers, dispatchers, mentors, etc.), find profitable routes, discover a niche, etc. It’s best to do it when things aren’t easy. You’ll be tested but if you make it to the other side, you’ll be very successful!
haha don’t worry, diesel prices are already dropping down and the freight industry is very volatile. it goes through its ups and downs and right now it’s down.
retailers (with the exception of truckstops) which are known as monopsonies by economists, make a very low profit margin on fuel sales. It is stupidly ignorant of you to blame retailers, just as biden did, as responsible for high diesel prices
Would love a video on calculating fuel surcharges. These owner operators need it because unless we all get on board the brokers will continue to screw us.
Man, Im so happy I found your channel, as a new owner operator all this information helps so much. Thank you!
Thank you brother that means a lot and I'll continue to deliver high quality info.
Excellent "drop the mic" 🎤👊 moment right there at the end! Gupreet, you are _"giftedly"_ intelligent with both _understanding_ and _explaining_ these concepts of economics as they relate to the trucking and logistics industry. Keep it up and keep improving!
Yes please do a fuel surcharge vid I'm sure it will help alot of us out here struggling thanks
I just completed a 4,000 (loaded) mile trip over 16 days (1 April thru 16 April) with 4 days OFF. I spent just under $3,000 in fuel and took 13 loads from Texas, thru Louisiana, Mississippi, Alabama, Georgia, Mississippi, Louisiana and back to Texas. I averaged a little over 40,000 lbs cargo. The secret to maintaining profits is simple: Negotiate carefully: My gross sales were $16,195 and fuel cost was under 19% even at $5/gallon. I watched my RPM (keep them above lugging (1000) and OUT of the power zone (1500). That speed is around 62 MPH. There were times when I had to run 65 MPH but I only did that when I absolutely had to vs all the time like I see a lot of truckers. Because I'm an O/O saving fuel increases my profits SIGNIFICANTLY. Here's the thing: I'm ALWAYS light on the pedal - not just when fuel costs are high so those old habit$ (of patience) are paying off nicely. Some of my competitors (flatbed and stepdeck) may be unintentionally eliminating good profits when it's easily avoided. I'm also in a well maintained 28 year old truck so reliability is far easier for me than some of the modern doohicky bs on the new trucks.
This is super important to note. Most fuel costs can be mitigated through careful and intentional fuel maintenance when driving. If you’re an O/O, it’s in your best interest to learn how to do this. Great work!
@@Gill22 // ...and if gross sales are HIGH, fuel takes on le$$ importance. Wait there's more. If you then slow down on the speed and RPM, your profits can fly even higher. For company driver's - tell your employer to offer bonuses for fuel savings. This helps on maintenance as well.
As someone who just wants to get into it for the first time. I was considering getting my first truck. Here in Canada you don't need a CDL if the GVWR is 26000 or less. Would you recommend an F450 with an 18' Flatdeck as our first truck? We are hoping to start out with that and work on keeping it on the road full before we get a second truck. Thanks in advance.
At the time I watch this, a month later, fuel was $6.49 per gallon in my area
Make the surcharge video!!!!!!
It sure is a tough time to start a trucking company. Still planning on buying a truck in June.
Still a good idea to get in! Margins right now will be really tight but if you’re serious, you’ll build up great habits. Track your fuel efficiency, build a network of for your core team (shippers, brokers, dispatchers, mentors, etc.), find profitable routes, discover a niche, etc.
It’s best to do it when things aren’t easy. You’ll be tested but if you make it to the other side, you’ll be very successful!
please make that fuel charge video homie!!!
will do! next two video are already made but after that i definitely will
You need to keep teaching Gill
What are term of payments in transport industry? Companies usually pays after 30, 45 days?
all depends on companies and their credit rating. it usually is 30-45 days but it’s not super uncommon to see 60 days to recover payment.
Charge more.
Hes backkkk!
There goes my dream
haha don’t worry, diesel prices are already dropping down and the freight industry is very volatile. it goes through its ups and downs and right now it’s down.
@@Gill22 ok I guess I should watch more
Make the video bro
This old news.
The average price of diesel in the US is still $5.10 and near record high. How is it old news...
retailers (with the exception of truckstops) which are known as monopsonies by economists, make a very low profit margin on fuel sales. It is stupidly ignorant of you to blame retailers, just as biden did, as responsible for high diesel prices
Hi I was just wondering if there is a phone number to get in contact with you guys. My husband would love to work with you guys.