Help A Potential Non CDL Semitruck Owner That Doesn't Know Anything :-)

Well, your truck payment will probably be at least a grand each week (that's for a used truck), but the insurance for a new business owner is going to be even higher PER WEEK.

You're going to get someone else to drive it? What are you paying them with?

Just because you figured we can haul 5 loads a week at $1500 per load = $7500 X 4 weeks = $30,000 each month, doesn't mean 75% of the gross will be a profit. More like 5 to 7% as a new owner if all the stars and planets align. *HINT* That ain't happening.

Payments, maintenance, trailer rental, fuel, insurance, licensing, fees, permits, and more fuel, fuel, fuel.

You see $2500 a month now? You should become a company driver. I promise you can see $1200 net every week easily as a new driver if you want it. I didn't even run hard two weeks ago, and this Friday my net was $2268.

Do linehaul for a LTL company instead you can be home everyday and in a couple years make 100k a year without any real effort.

I won't rain on your parade any further, but if it was as easy as you where hoping I'd own a few trucks myself and still drive for OD. Unfortunately, it doesn't work like that as everyone else pointed out.

Noel you stated you wanted to see $2500 to be happy. Is that amount per week, or per month? How did you arrive at this amount?

that would be a month. It's a little bit more than what I am making on my current 9 to 5 after taxes

Noel, my math tells me you are at your current job making about $15 per hour. Yet you are thinking of taking on an enormous risk for essentially the same amount of money, even if you aren’t going to be the driver.My honest advice would be to try and find a job or opportunity that pays more than your current job. Truck ownership is just too risky for you. I respect you for having an American dream, just find a safer way to increase your income.

Now let's say I decide to also operate the truck, how do you fancy my chances then

It would be quicker and less emotionally damaging to just light your money on fire.

Noel C.

I have a friend that tried what you're contemplating, some years ago. He's a pretty smart guy, knowledgeable about business, with good friends in banking, legal, and accounting. He did his research, and even had a good friend that was a fleet owner (20 trucks) who leased his equipment to a mega carrier and hired his own drivers.

First few years my friend did well, and started building his own small fleet. He built his fleet to 10 trucks. Then it all went sideways. Several events happened within a short time period. Long story short, it cost him 3/4 million to get out of debt. That's not a typo...$750,000. Yes, he had saved wisely when it was good, putting money in savings and retirement, and he was able to get out from under without losing everything, but it decimated his retirement and savings. He's still working full time approaching his mid 70's, trying to build his retirement back up.

As for his friend and mentor, he read the signs a little better, and got out before it hit him.