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Can I make money at 1.60 per mile

Discussion in 'Experienced Truckers' Advice' started by Daniel1234, Nov 16, 2011.

Page 1 of 6
  1. Nov 16, 2011 #1
    Daniel1234

    Daniel1234 Bobtail Member

    7
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    Nov 16, 2011
    San Francisco
    0
    Hey guys. I have been a freight broker for the 6 years. 90% LTL , 10% TL. Recently sold my business. I have non compete clause for 12 month but they are OK with me being asset based carrier.

    I have some ready accounts in mind mainly outbound from CA to GA, CA to IL, CA to MN. I can average 1.60-1.70 per mile / 2500 miles per week.
    All dry 53 vans.

    My question is can I make money. I plan to go big I don't care for 3-4k.
    Willing to put 1-2 million behind this idea.

    1. Should I buy new trucks or used.
    If new please suggest why.
    If used please suggest what kind and approximate cost and year, model.
    Or lease from Penski or Ryder or someone else.

    2. Certainly I need drivers.
    What do I need to pay drivers per mile to keep them happy and driving.
    My guess .40 to get guys with experience.

    3. Can i hire drivers out of driving schools or insurance will not allow it.

    4. Cost for insurance per driver.

    5. What can I average per mile from a truck per gallon. (estimate of fuel cost)

    6. How much should I set aside for repairs per mile or month.

    Im sure someone has made excel file with all fees, including bonds, license. If yes please share.

    Thanks
    Daniel.
     
    Daniel1234, Nov 16, 2011
    Daniel1234, Nov 16, 2011
    #1
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  3. Nov 16, 2011 #2
    grizzly

    grizzly Medium Load Member

    599
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    Aug 27, 2008
    Layton, Ut
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    You should have stayed a broker, you would make more money. I wouldn't touch $1.60 a mile freight.
     
    grizzly, Nov 16, 2011
    grizzly, Nov 16, 2011
    #2
    Rollover the Original and Mommas_money_maker Thank this.
  4. Nov 16, 2011 #3
    RickG

    RickG Road Train Member

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    Jul 22, 2008
    Owensboro , KY
    0
    That is too funny . Somebody that brokered for 6 years that doesn't have a clue what it costs to run a truck .
    Sure you can make plenty at $1.60 a mile - if your broker gives you part of the FSC . :biggrin_2559:
     
    RickG, Nov 16, 2011
    RickG, Nov 16, 2011
    #3
    chalupa, grizzly, jbatmick and 6 others Thank this.
  5. Nov 16, 2011 #4
    dave26027

    dave26027 Road Train Member

    1,284
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    Sep 10, 2009
    Dallas, Texas
    0
    You could have been a heck of a good broker if you had known what your business partners needed. It's hard to believe you know NOTHING about the trucking side of freight- it shows us that you were only negotiating for your own interests.

    You have to know your cost per mile to decide what your MINIMUM RATE will be. Most likely it'll be a few pennies more than you were paying people as a broker.
     
    dave26027, Nov 16, 2011
    dave26027, Nov 16, 2011
    #4
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  7. Nov 16, 2011 #5
    Old Man

    Old Man Road Train Member

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    Apr 3, 2009
    Oklahoma City, OK
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    $1.60 minus .50 FSC is $1.10 freight go for it, or take the millions and go to Vegas you'll end up the same.
     
    Old Man, Nov 16, 2011
    Old Man, Nov 16, 2011
    #5
    volvodriver01 and Mommas_money_maker Thank this.
  8. Nov 16, 2011 #6
    rbht

    rbht Heavy Load Member

    888
    525
    Jan 23, 2010
    CT,NH
    0
    Another one with no clue getting into trucking. Do some simple math and you can see for yourself a $1.60 a mile is not enough to cover pay and all the cost associated with running a fleet of trucks.
     
    rbht, Nov 16, 2011
    rbht, Nov 16, 2011
    #6
    Ruthless, volvodriver01, Mommas_money_maker and 1 other person Thank this.
  9. Nov 16, 2011 #7
    PackRatTDI

    PackRatTDI Licensed to Ill

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    Jul 15, 2006
    El Chuco, Tejas
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    Sure you'll make a ton, provided you don't ever buy fuel, or eat, or break down.....
     
    PackRatTDI, Nov 16, 2011
    PackRatTDI, Nov 16, 2011
    #7
    volvodriver01 and Mommas_money_maker Thank this.
  10. Nov 16, 2011 #8
    Superhauler

    Superhauler TEACHER OF MEN

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    keep stroking.
    0
    yea $1.60 is pretty good 20 YEARS AGO !!:biggrin_25513:
     
    Superhauler, Nov 16, 2011
    Superhauler, Nov 16, 2011
    #8
    Rollover the Original and Mommas_money_maker Thank this.
  11. Nov 16, 2011 #9
    BretStep

    BretStep Light Load Member

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    Sep 27, 2011
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    Not to argue, but there are hoards of company leased o/o's that are running hard at that rate and are making decent money. I guess it all depends on what one considers decent money.
     
    BretStep, Nov 16, 2011
    BretStep, Nov 16, 2011
    #9
  12. Nov 16, 2011 #10
    PackRatTDI

    PackRatTDI Licensed to Ill

    14,765
    22,567
    Jul 15, 2006
    El Chuco, Tejas
    0
    If your a leased O/O and running under their authority with all that entails, then yes. When your operating under your own authority, then $1.60/mile makes you want to remind someone about the Emancipation Proclaimation.
     
    PackRatTDI, Nov 16, 2011
    PackRatTDI, Nov 16, 2011
    #10
    1988pete379, rbht, grizzly and 3 others Thank this.
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