How Much Can You Make Running Under Your Own Authority in 2023? January Numbers and the $30K Repairs
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- Опубліковано 17 вер 2024
- There are no payroll numbers here because I want to show how much you can make running under your own authority.
January was not a bad month in general, we found a strategy that works. Stay in the midwest, run short 1-2 day loads, ensure you are making at least $1000 a day. It works. The diesel prices are lowest in the midwest and the load rates are the best. But January did come with its own set of problems, for example the almost $30K repairs we had to do on one of our trucks.
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📧. My email: talkabouttrucking@gmail.com
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No clickbait, no catchy thumbnail just pure knowledge and experience pouring out of your videos. You are an asset for this industry.
she definitely is a great asset.
That's why I'm holding on to my older 2002 freightliner. No way would I be willing to pay 30k for a transmission. I rebuilt my 13 speed manual a few years ago and it only cost about $3000.
Miranda, thank you for the information. Your channel is the best! 👍
Great video Miranda, we learned a lot from your videos. Here is my experience: 4 years ago we bought new Volvo Vnl 2019, the warranty was only for 800,000km for $5000 and we paid an extra $2000 to extend the warranty for 1,2milion km. In 900,000 km we had engine and the bill was $60,000, thanks God bcs of the extended warranty for only $2000 we saved $58000, plus we changed the majority of the other expensive parts and the truck is like new again, of course with good maintenance we still run, by the way this truck run as a team driver that’s way has so many km. Last year we order the second truck but not Volvo this time we order new Kenworth T680, 2023, and just arrived two weeks ago. hope 🤞🏻everything goes well bcs is our first time trying Kenworth, we had only Volvo before, but we are going to do same thing with the warranty. Better pay little bit extra when you purchase the truck and you no need to worry about big fat bills if truck breaks down!!
Sorry to hear about your truck. 30k for a transmission seems rather high. I just overhauled my engine in July and only spent 26k. Having a large maintenance account is extremely important especially when you have an older truck and staying ahead of maintenance is vital. Thank you for the extra work you do for us.
To rebuild a 3 year old freightliner engine is $80,000. Now that's steep.
Work has been slowing down and we will definitely hit those load boards again soon. Got almost 7 months MC authority and chugging along and have other businesses to make up for the shortfall. Insurance remains one of our biggest overheads and it’s annoying but it’s getting better.
How do you get work if you don’t use the load board . I’m planning in jumping in the industry
Did you work with an insurance agent to get the best price?
I truly admire this channel and the work that the author of these videos does. It's very informative and structured. I would like to take Miranda's course on dispatchers when I improve my level of English
Just discovered your channel, I have been only 3 years in this business, now on you will be my point of comparison, and a mentor,
Thank you
Thanks for making this video. It now gives me and anyone looking to start their own trucking business with own authority the knowledge and also the cost of what to expect on expenses and profit to be made. 🤝👍
Most under-rated channel. Share this channel so they can get more views. Maybe theyll be able to put more on Trucking strategic planning if they get big enough. IJS
Interesting info. Honestly I did around 9k miles as flat bed company driver and took home 10k. Definitely makes me wanna stay away from the headache and just focus on the job. I get paid % and loads are never below 3$ per mile.
As a west coast driver, I'm glad you pointed out how underated the midwest short hauls are when done back to back.
I've only ran west coast as a company driver doing reefer, but if I ever went owner op, I'd relocate to maybe Indiana or Michigan. I've seen those expediter straight trucks even survive out there as a solo driver and doing less than 500 miles a day.
I will say that there is a pretty nice hidden gem in Northern California during July-October and if you got/rent a set of double trailers. I've seen some drivers head back west during the harvest season and run tomatoes/walnuts and make maybe 35k or so per month.
The best part? ELD is not required for AG haulers. Owner Ops with one trailer have to wait for a bit but company guys just unhook from a trailer and find whatever trailer they want and wordlessly hook up to it and leave. Drivers pocket maybe 120k in 4 months (give or take) and then head back to the midwest.
Even company drivers can clear $1100-$2000 a week (average is $1500). You just gotta be ready for 16 hours a day and most of that is drive time.
Great video! I stressed over buying the Factory extended warranty for 7k but glad I did! I’m covered on the engine, after treatment and transmission to 750k miles. My dry van for January grossed 29,550 at 2.78/mile All miles. I feel extremely blessed for that! February is gonna be not so good though. I’ve been home for a week. Yikes.
What’s after treatment
Sharp, no BS, transparency 🤘🏼😎 love it you got a new sub 🥂
Keep strong, beautiful, and smart. you're doing a lot of good for the industry, and good things don't pass unpaid in this life. Those times will pass, and we'll be much better, And you'll be amore smart and beautiful
I'm here in Washington and it sucks here . But hey I sit till I can find a good load. I don't care how long I sit. I'm not tearing my truck up .
Honesty, transparency. Real true to life business professional. And giving back by teaching others. Top notch.
I've seen one company keep a low end cargo van or two on standby for breakdowns. It kept the driver rolling for 4 months while they repaired his rig.
I know, yes. The (greedy) mechanic can justify $30k tranny repair. But no way. That's robbery. When a transmission is $30k, it's time for bye bye. I could never live with myself. $30k into a house/property can turn into $100k in a few months. Children's college, college endowment, anything! How can any auto manufacturer build and sell something so expensive to buy, that in a few years, still costs $30,000 to fix!?!
Anyway, we hope that $30k earns you a million!!
I've learned so much from watching your UA-cam channel. Thank you Miranda from my heart. 🌹❤️🌹🤗
I own my truck and trailer. which I leased on to a company three years ago . In January a little over eleven thousand and my direct deposit was 25,835.00 That's after fuel ELD and insurance . The reason I did so well is they have direct customers and have good relationship with their agents. They pay same day if paper work is in before 10:00am with no factoring fee. Plus their fuel discount has been as high as $1.50 per gallon.
What carrier are you leased on if I may ask
Very professional lady…I like very much her videos (Educational)
You are one of my go to trucking channel ❤️
Thanks a lot Miranda for update and bring your study. Best regards
She’s the best! Awesome information and right to the point.
Love everything about your videos.
If you take actual accounting method than insurance from 2nd truck would not be counted with 1st truck. So this increases dry van net profit by around $1500 for January
Thank you for the information Miranda!
Great info and so detailed 👏👏👏
Appreciate you a lot. Thanks for all u do.
Here I am again. This time drinking a glass of Weller Bourbon 🥃 wondering whether or not I should finally go on my own. Obviously I am not driving.
I’m leased with a really great company with no responsibility for trailers. Just responsible for my 2 trucks. Yet my % of loads are not to bad and customer freight is actually pretty good.
Obviously I don’t want to just go off my emotions or feelings because that’s a quick way to go under very quickly. Just trying to make a logical decision that is beneficial.
I had to pause your video at the moment you spoke about the cost of transmission. Not sure what type of transmission but I just replaced my transmission April of last year and had my front axle completely overhauled for a little over $11,000.00
Remanufactured transmission, fly wheel turned, new clutch, clutch cable, universal joints, hanger bearings and all new bearings.
New wheel bearings, king pins, all new steering arms. The only things not new were axle and gear box.
It always helps to know people and become close friends. Also shopping around helps as well.
Edit again. Never buy a Freight liner. Especially one that has DD15 engine. Always an older model with a Series 60 Detroit. One of the best types of motors out there along with Cummins and Caterpillar. The new Detroit engines are absolute garbage.
Thank you for this!
I have been told that if your dependent on the spot market. It's a slow drawn out death.Regardless of the cost of equipment. This was about a decade ago. I can't imagine it being better today. If i use the the spot market for 25% of my revenue , I am in trouble. This is not even having any contract freight. It's not panic but emotions that get in your way.
I sold my truck July 2022 and I was looking at this and I rather not buy and stay as a driver until the trucks go even lower I have the cash to buy still have my own authority I'm still making 10 % out of my business partners but I rather not buy now I make over 2k a week and I don't have any mechanical expenses or truck payments or insurance it so nice to not worry when market go's back up in summer if it does and the price is ok I will buy once more but these loads are paying close to nothing I make over 8 k as a driver plus my 10% out of my authority that they work for I don't need a truck now thanks for sharing this info help me not to buy a truck now
She is telling the true I was making net 640 a day as a owner operator now I make 540 a day as a company driver without truck not headache,now is worthless to be a owner operator, dpf and def will put you out of business so quick. Im happy to stay way from headache ,one breakdown easy can you put you out of business. We are short on parts.
Thanks for another great video. ❤comparing my reefer truck to yours to see how I’m doing
Thank You , for putting this out so quickly, Excellent as usual . Pls, get the likes up folks .
I loved this!!!!!!!!!!!!!!
Great support. Beautiful and smart?! That's a scarce combination😘
Best channel
@Miranda... when do you think it's a good time to buy a truck? Keep up the great work by the way. Your a true gift from GOD.
I think if you can wait, wait. The truck prices are still ridiculous (although going down for used trucks steadily)
So much I really appreciate that❤
I had a Deja vu momet for a second 🤣
Thanks for the info you proved. 🙂
Miranda, look into south texas reefer loads. From Tex to TN. Is working out very good for us. Averaging 2.75 a round trip
Aftermarket warranties really aren't worth the money.
You should invest either in a Kenworth or Peterbilt. Paccar products are superior to any other product on the market. But if you have to buy a Freightliner, make sure you get a Cummins in it.
Wow that's a high mechanic bill.
Miranda you need to get your mechanic out of south Texas, we have great mechanic.
Thanks for the insight on your operations it really helps our business! Keep it up 👍🏾 what are you planing to purchase to replace that freightliner?
Another Freightliner, but a new one lol
I have a 2015 Freightliner cascadia and just rebuilt the engine brand new again but they stole my CPC 😢
Great job sorry to hear that about the transmission but as you say, you learn from your mistakes, you pick yourself up and you keep Rollin!! Let me ask you do you have much experience with Volvo trucks? What’s your opinion on those? Thank you. 👍💯
Getting into trucking right now it is suicide.. Fuel is too high . And the load Rates are not paying .. If you're not hauling for $3 a mile or More the overhead cost is going to put you in the crapper .. Most load rates Right now are less than $2 a mile .. That's really bad
We already have enough idiots out here hauling this low pay no pay freight and making it worse .. In today's economy your truck needs to be clearing more than $10000 a week to be able to pay for overhead costs and maintenance . I've been running trucks for 20 years and this shit is bad right now really bad
Trying to get after market warranty to pay for your repairs is like winning the lottery especially Tru-North.
QQ: With regard to your downed vehicle. What is your team's preventive maintenance program?/Operational Maintenance Plan? Do you all plan down times to have your vehicles looked at? Not selling anything. Just wanted insight
Great Great F'n share!!
A first class flight to Texas for spa treatment and a lil shopping a make it all better
Lol Texas yes, spa yes, shopping NOOO! Hate shopping
Miranda, thanks for this video! Its One of your best! Quick question - what insurance company youre working with?
We use Benchmark Insurance
Have you guys looked at paying the company drivers a % of gross instead of mileage to make the shorter runs make sense for them as well?
Something I should look into- we used to offer either % or CPM, now its only CPM.
Lov E yur videos Randabear
Great👍🚛🇺🇸
30k to repare an automatic transmission 😮.. my cousin has huge junk yards and ends up throwing them in the trash because no one's buys them 😂
I like your videos. Are you budgeting for future maintenance, tires, new truck purchase, etc. in your video?
Always trying to keep a good safety cushion for moments like these, but they still sting when they happen
@@TruckingMadeSuccessful How much per mile are you allocating for that safety margin?
Holy crap, 28k for a transmission? Is that Covid supply chain prices, I was told they are more or less 15k plus labor.
Nice work. You admit your mistakes unfortunately most learning curves require huge expenses. However I'm sure you won't make those same mistakes again.
Could you also show how many days the trucks ran and how many days spent at home? It sounds like you guys are making money but at what cost?
Great idea- will do that for the next one. My business partners run like crazy, sometimes 2 months without break. But they are business partners. Company drivers will work from 20 days-1 month with 7-8 days off
Have you think about to offer percentage pay to your drivers? That could solve your issue with the "must book longer runs to feed my drivers with mileage" situation. If they scared from percentage, you can try to offer a system where the driver automatically gets the better deal on a load.
So if you book a 1000 miles load for $2500 with a 100 miles deadhead, and lets say their cpm rate is 65cpm they make $715. But on percentage they earn, lets say 25% of gross (w2, 30% the standard for 1099)
they would make $625, so in this case they would get the $715 automatically.
But if you book a load, 350 miles for $1350, 50 miles deadhead, on cpm thats $260, but on percentage, its $337.5 so your driver in this case automatically would get the $337.5
Thank u for ur time can u make estimates between refer and flatbed ?
The reality of the Bridge in Minneapolis falling down, and the one in Memphis being shut down, indicates that the US is pushing it's luck, as Infrastructure is challenged to cope with Truck Traffic.
I am not going to drive on the US Highways with anything bigger than our one ton Truck to haul some Hay.
I was running A-trains around Western States, and now I will be content to operate a 2 wheeled machine. Thanks anyway......
Trucking appears to be gone, along with the opportunities.......
What permits and filings do I need for a 33,000 gvwr 26' box truck? Is it the same or different from a semi?
the problem is getting loads, last year on 80k miles i grossed 230k. i run under my dads authority but i don't pay anything except my insurance. i run the spot market into california from texas but ones im done repairing my engine i have no idea where i will head too since it's dead getting anything of the load board. 😮
💎
My company does a
7% dispatch fee
$1200 insurance
$200 parking spot
$1400 trailer rental
$60 elog monthly
Whatever I use on fuel then they deduct
All this under there authority is this fair?
Sounds pretty normal but that dispatch fee is pretty high for these times
@@TruckingMadeSuccessful what’s the average for a dispatch fee? He keeps telling me a different number always higher than 8%
Let’s gooo!
Hay Guys what do think about CLOUD TRUCKS is it worth it?
Still waiting on truck prices to go down.there’s alot of trucks for sale right now
Hi. Love your videos. How do you keep track of everything that’s listed in the spreadsheet and what do you use to compare them ?
Thanks
I use air table to keep track of the numbers. This gets updated on a daily basis. To compare, I use excel
Hey a buck nineteen is better than deadheading it back into the money pit is it not?
Your driver is hauling $2.00 a mile freight.
That's really cheap freight.
You need to be averaging no less than 3.00 a mile. I would say more than that if you want to make a profit.
Can you compare rates for both trailers in the northeast
$30,000:00 on a transmission what!!!!! The Heckkkkkk please was it an automatic or Stick.
Automatic
What's the difference BTW intermodal & OTR$$$$$ intermodal is better r No
Miranda so sorry that the company took the hit for the unexpected transmission job. Otherwise, you have demonstrated how to make money as a small carrier in this recessionary market. It's so unfortunate that these trucks are just rolling "time bombs" what with the failure rates of some semis after 500-600K miles. It's hard to plop down $100K for a newer truck with low miles, or even a new truck in this market. So many owners want to find that sweetspot of a $50-60K truck, but the risk of engine or transmission failure is just so high. As has been discussed before, maybe in 10-15 years semi breakdowns will be a thing of the past, once electric semis become dominant. I hope that you can find in this soft market for used semis a good replacement truck for the one that just failed. So many trucks will be at auction now, with reduced prices, such that a careful buyer can get a good deal on a good truck. I wish you all the success in the world.
Thank you!
That's who grabbing cheap freight. Lol $1.19
Hi Miranda, i bought your course. I am scared to start the trucking business since i wont be owner operator, i will have a driver for me. Can I please talk to you on zoom or some type of communication?
Email me at talkabouttrucking@gmail.com. Im about a week behind but will answer all emails tomorrow!
I work with amazon. how I can get the 1099 to file taxes ? . I'm an owner operator
Where is the flatbed?
We got rid of our flatbed for now
I'm not in trucking business, but I find these informative, who knows maybe I will get a truck and start a business
managed?
Good luck i advise you not to do it were all going under and trust you wont make any $ ask any owner operater
@@charlieboy501 I see what you mean. But after every shakeup and collapse there is a revival. People need to be ready at the least to see the industry need and fill it. Even if it is short haul, trucking not going anywhere.
How does an owner draw work? What's the %?
Hey Miranda ☺️ how can I get in contact with you personally? I'm starting a business in Chicago Illinois and wanted to get your input on some things. I truly appreciate your channel and I look forward to speaking with you soon. Thank you 😎🙏🏽
Email me at talkabouttrucking@gmail.com
Thanks miranda
As a carrier it’s fine because her overhead is insurance but for her so called partners they aren’t doing so hot
Not sure what you mean
Curious...why did you have to pay $30k to fix/replace your transmission at 500k miles? I thought the DT-12 factory warranty was 5 years/750k miles? You mentioned that you found that once used Freightliners hit the 500k mile mark, they start falling apart, so I am making the assumption (possibly an incorrect assumption) that the truck you replaced the transmission on was at that 500k mile mark, but please clarify. Thanks Miranda!
Correct, it was a little over 500K miles, but over 5 years old so no warranty. Usually warranty is Years/Miles (whichever comes soonest)
can anybody tell me what a good rate per mile is for dry van? so that it's not a loss? thank you.
It depends on your cost per mile
What software do you use fir your graphs and spread sheets
Airtable, Numbers
30k for a transmission is just another example of why you should never buy a truck with an automatic transmission
😍
I studied for diesel maintenance for 3 years until I was hit by an illegal immigrant with a 2.0 alcohol level doing 45 mph. I went from a possibility of 43,000 a year pay to 0 in a heartbeat. I miss having my hands getting dirty and now I am nothing.
Im sorry this happened to you
Are there any majors that I should study? To be successful in this industry))
Business
Wow!! 30 grand for a transmission that's a rip-off
Hi Miranada, Just a quick question that are you sure that for more than 12000 miles your fuel expanse for DV is only $6000 and something ?
Yes
Hi. What TMS do you use ?
I built my own through AirTable
You ever heard about clickbait?? You need that for your channel
Let’s take you to the moon
How can I get in contact with you
talkabouttrucking@gmail.com
Went not pay your driver a percentage instead of miles? Wouldn’t it benefit you????????? @trucking made successful
It would benefit us- % pay is something that will move with the times unlike CPM. If the market is bad, then everyone earns less, if the market is good, everyone earns more, and miles no longer matter. With CPM, my guys earn the same regardless of the market situation.
What brand/type of transmission was it that failed?
DT12
@@TruckingMadeSuccessful I'd choose Eaton over Detroit or Allison transmissions... but you probably had the integrated transmission with the engine if it's a newer truck. I don't like how Freightliner is doing that because it restricts choice. Thanks for the info though as I'm curious which transmissions are lasting longer.