Small Owner Operator Truck Fleet | [This is what it costs]

[@Flipping_Assets]

Lease the trucks, avoid W2 and work comp

[@orvillebryan1950]

Great video, sell the Internationals and buy Freightliners . 15,000 is too much bro but great video keep them coming.

[@MysteryofMoney]

Thank you very much. We may look at changing in the future but while they are under warranty we’ll keep rollin. Thanks for watching!

[@someperson7]

International 😬 Hope that ends up better for you than I expect.

[@MysteryofMoney]

It was a little rocky at first. Just had a rebuild on one of the engines at $300K. Luckily that still had warranty left so cost very little. We have 2 new trucks that seem to be working good. I have heard others that had problems with the after treatment systems for their drivers, but they didn't have APUs so a lot of idle. That was the first thing we installed before the trucks were picked up. Ive learned in this business to always have your fingers crossed ! Thanks for watching!

[@truckerkev7067]

15 k for repairs between 2 trucks is a blessing

[@MysteryofMoney]

I guess when you look at it, It was mostly one truck, but you are right!

[@JD-dw1dr]

Get your own authority and work with a dispatch company. It is cheaper. Dispatch companies only charge around 7 percent of revenues.

[@MysteryofMoney]

We may work on that in the future. Right now I am just glad to have my drivers hauling! Thanks for watching!

[@zaidchalabi1599]

shit get your authority and do you own dispatch its super easy why even pay a dispatcher!!!!!

[@MysteryofMoney]

@@zaidchalabi1599 I think about it but with working a full time job myself I don’t have the time to do it right now.

[@zaidchalabi1599]

@@MysteryofMoney invest your time in your business i used to work full time job making 90k a year i quit i drive my own truck my own dispatch and 100% myself. my truck and and trailer paid and i bring home double what i did in my full time job. only downside is im home only weekend and wedensday night

[@MysteryofMoney]

@@zaidchalabi1599 good information! I wish you the best in the future!

[@kamwashington2706]

I have a question about paying drivers. I’m saving up to buy a truck but eventually want to have a small fleet. For someone that is looking to hire their first driver what would be a fair pay rate in order to keep your driver happy but also stay profitable? I’m a company driver right now and see all kinds of different pays for these bigger companies but for someone that owns 1 or 2 trucks what’s a range of pay you would recommend?

[@MysteryofMoney]

We pay by percentage of loads, so it would depend on what you are hauling. I would calculate your costs and figure what you need to break even, and also a little profit, and they back into the percentage you could pay a driver. I have heard anywhere from 28%-40%. Again, depends on your cost, and the drivers experience. Best of luck!

[@DJ-qe7lg]

Love this video. I would like to get to where you are at. I'm currently in CDL training. Can you do a update on how things are going so far ?

[@MysteryofMoney]

Thank you very much. I am actually working on a update video for 2020. Should be released next week. Thank you very much for watching!

[@unknowndriver6652]

How dificult is to find good drivers?

[@shim6057]

Ok so you had $283,000 in total cost. What was your gross income during this same time frame?

[@MysteryofMoney]

We had $265K in gross income. The expenses also include owner salary and we try to break even on the tax returns since we are an LLC and no real need for retained earnings.

[@MysteryofMoney]

What kind of trucks do you own?

[@MMA_hana2]

Hey Nick! Thank you for the information. We don't own one yet, but I have my eye on a Freightliner Cascadia.

[@MysteryofMoney]

@@MMA_hana2 Are you looking new or used? What got you interested in that model?

[@MMA_hana2]

@@MysteryofMoney Definitely used! There are 3 main reasons 1) I've heard it has great fuel mileage 2) it's very comfortable and spacious for team drivers 3) They are more affordable. I'm glad I stumbled on your account. Just like you, I started the business with my brother. We plan to work under a carrier as well.

[@MysteryofMoney]

@@MMA_hana2 I know my brother liked the layouts of them. We ultimately went with internationals because they were less expensive and we have a local garage that takes care of them. We just purchased a 2nd brand new truck this year. I don't think I will buy another used truck. Not that it is a bad idea and thats how we started out, but we are 50/50 on our two used ones. One is now a lawn ornament in my brothers yard, until it gets sold! Maybe if they have less than 300K. But for right now, I don't want to spend any money on trucks!!!. I appreciate you subscribing and if I can help out at all, let me know!

[@MMA_hana2]

@@MysteryofMoney I do have one question if you, if it's not a bother, what are some basic questions I should ask a carrier?

[@SebGon]

I'm sure people wanted to know how much you made to see if it's even worth it. I guess it's good money, cause after all expenses you're still going at it.

[@MysteryofMoney]

Agreed. I think it is worth it in the long run, just harder in the beginning. Thanks for watching!

[@Flipping_Assets]

So basically you get money by renting the equipment.

[@Flipping_Assets]

14k for 3 trucks?! That's cheap..

[@stellarch9524]

Hi, is there a place I can talk to you? I have a large capital that I’m looking to use to create a business, and trucking seemed quite profitable. However, I’m not a driver myself - we’d be a fleet owner.

[@MysteryofMoney]

Can you send me an e-mail to connect? Or you can schedule a consultation on the website. Let me know what works. Thank you for watching!

[@Mrs-Mr_Ealey]

So how much exactly for one truck to start off???

[@MysteryofMoney]

Do you mean expenses, or the cost of the truck?

[@Mrs-Mr_Ealey]

One truck

[@josephmedrano6082]

Legend

[@MysteryofMoney]

Thanks for watching!

[@JD-dw1dr]

What company are you leased to?

[@MysteryofMoney]

Its a small carrier with about 25 OO leased on. They have been very good to us over the past 3 yrs.

[@drewj1977]

Your payroll is extremely low for 3 trucks

[@MysteryofMoney]

You are right. We only had the 3 drivers part of the year that year. It has gone up over the past two years.

[@gibh4873]

Hi

[@MysteryofMoney]

Hello

[@Flipping_Assets]

Avoid East cost with tolls.

[@MysteryofMoney]

True statement!

[@Flipping_Assets]

International 🤦‍♂️

[@MysteryofMoney]

They have been good to us so far. The local international shop takes care of us.

[@dolo2145]

Can you dm me y’all gross. Not to count your pockets just need to know the profit margin if your paying 280k in expenses in a year.

[@MysteryofMoney]

I get it. $280k expenses includes brothers salary and depreciation. Gross receipts was $265K. Actual expense would be $193 with those added back in. Hope it helps.

[@dolo2145]

@@MysteryofMoney thanks alot man. Greatly appreciated.