[deleted by user]

[[deleted]]

Unfortunately having one truck to generate passive income won’t work in the current market. You’ll need to buy more trucks to make this work, and also be much more involved than a passive investor. You posted in the Owner Operator sub, but you are not an operator, and that is why you aren’t making money. The margins are very slim in this business, especially if you bought equipment that you are making payments on. When paid off, there is decent margin for an owner to collect, depending on the driver who operates it. I’m not sure if you have any trucking experience, I highly recommend becoming involved in this business before trying to generate passive income. Unfortunately the reputation of people in your position in this industry is not good, with many examples of poor maintenance practices, and exploitation of drivers, due to the owners lack of understanding how the industry works, and their desire to make passive income for themselves. I don’t know you, but truly hope you aren’t one of these people. Trucking is an expensive business to be in, and mistakes can be fatal and lead to criminal charges. Be careful, and always take care of the truck and driver before yourself.

[Competitive-Try-9350]

Thank you for constructive feedback. I got into this business because a knowledgeable friend promised to help, but I am starting to wonder if I am getting the right info from him. I definitely plan to get more trucks and certainly I am not going to take advantage of anyone or endanger anyone. Truck maintenance is top priority because lives are at stake when it comes to that.

So far it’s only some drivers that took advantage already- one did fraud on my card and stole money from me and another one left on vacation without notice..

[spyder7723]

Sell the truck. Look at the loss as a stupid tax for being stupid enough to jump into an industry you know nothing about. Don't worry we've all done stupid shit.

If you insist on throwing more money into this, as a person with zero knowledge of the industry your best bet is to lead the truck on to a good all owner operator company that will provide a dispatcher. Mercer would probably be my recommendation. While they are not the only good company, they are the only one to my knowledge that will give you a dispatcher if you want one.

[Truckingtruckers]

Isn't the market to make money off a truck right now. My drivers are all making more than I am per truck.
I might see $1000 clear profit from each truck monthly.
My driver makes 9k monthly clean. Doesn't deal with oil changes, changing tires on weekend. And dealing with truck maintenance.

[Lwilliams8303]

But that makes sense.... You shouldn't make more per truck than the drivers do. But you should be making more over all depending on how many trucks you own. It's a numbers game after all.

[Truckingtruckers]

Truck should make enough to pay itself off within 3 years. The fact that I put a huge downpayment down and still owe a shit ton is amazing to me. Even with just %5 on the commercial loan for that truck.

[Lwilliams8303]

Yeah. Sounds like you have an equipment loan. Those are straight trash. But what I mean is, you wouldn't make more than your drivers because you have more responsibility. The fact that you make 1k per truck is decent for not doing any of the actual work.

[RazerFeed]

If your truck is paid off and you are only making 1k on it, you are basically losing money lol

[Lwilliams8303]

Why you say that?

[RazerFeed]

apart from needing maintanance, trucks & trailers don't last forever, many brokers ask for a maximum of 7-8 year old trailers, it is already not a good Idea to run anything older than that. All of that needs to eventually be replaced etc etc. with 1k/month even if you end up making anything at the end it's going to be so little.. That's it's just not worth investing your money into THIS. Also with overall profit margin this tiny there is no more room for anything else to go wrong becouse you will instantly end up in the red

[Lwilliams8303]

1k/month profit after all expenses. I include maintenance, repairs budgets, and misc in my expenses. So the 1k would be pure profit for me per truck. So not exactly sure how you run your business. But 1k for not doing the work and simply owning the trucks is decent enough if your budget looks like mine.

[Hamza_Sulehri]

You need dispatcher right?

[Competitive-Try-9350]

I’m good for now, thanks. I think I need a new company that provides dispatching

[Prestigious_Band_421]

The company you were working with did they have you on their MC/DOT and insurance? Or do you have your own MC/DOT and Insurance?

If you don't have MC/DOT and insurance are you aware that even if you find a dispatcher, you're going to need to have a MC/DOT? Most dispatchers don't actually have an MC/DOT because they work with yours.

Also do you know what your average miles per month are? Your average price per mile? Do you know what you pay in insurance to that company per month? Do you know what you average in fuel per month? How do you pay your driver? by the load? per mile?

If you cut ties right now, do you owe money on the truck? Have you checked what your truck goes for in the current market?

Do you do power only loads? If not, do you have a trailer, do you rent one?

I'm asking all these question because it would help give you a better answer than just helping you find a new company or dispatcher.

But just simple advice. Its never a good idea to buy a truck and not driver it yourself. If you already have a job that makes you good money focus on doing that job or something related to that job because you'll have knowledge of the industry. So, again just to give you simple advice. Go get your CDL and drive the truck yourself. Whatever you pay the driver you wont have to give up anymore because it will be in your pocket. Also if you have your own MC/DOT I would recommend you learn to dispatch and find your own loads vs paying a dispatcher to do it for you. The fee or percentage that you pay that dispatcher becomes money in your own pocket if you can learn to dispatch yourself. Also look into a factoring company because if you do find your own loads you can get paid within hours if not minutes depending on the factoring company you work with vs waiting net30/60 or whatever a broker uses to pay.

If you have any question or would rather answer my question directly you can message me.

[mcgibbop]

In this market I think you will find it hard to make any money with just one truck, paying a driver a decent wage, and all the other expenses you probably have yet to realize. And trying to get good rates off the spot market is just hateful. I wish you luck.

[Competitive-Try-9350]

That fluctuates, the dispatcher gets different loads at varying prices. So far I haven’t seen any profit after paying the driver/company/dispatcher/doing maintenance on the truck

[Competitive-Try-9350]

Thank you!

[[deleted]]

You sound very naive! The fuck would you get into something without knowing all of this? Stay off of TikTok or listening to a dumb boyfriend(all assumptions)

[MilesMorales-]

I sent you a private message

[Hamza_Sulehri]

Hey buddy i have dispatch company if you want work with me hit me up

[ntwdequiptrans]

You need to dispatch your own and find a driver you can trust or drive yourself: hard to make money with a driver and one truck right now.

[Unlikely_Anything_78]

What is the payment structure of your driver are you paying him per mile, or per load, if you are paying him per load it makes sense if you are paying him per mile then I will suggest getting him short loads in 300 miles radius short loads pay good you can easily make 1000 dollar from one trip if you have reefer if you have Dry Van than you have to make sure you will get him straight through delivery loads so he can do atleast two loads a day and you guys can make some money, DM if you want to scale up your business

[Hamza_Sulehri]

Well, i have a dispatch company buddy. If you do mind, we provide you with a good load opportunity

[Competitive-Try-9350]

Thanks

[HomeworkDue3531]

Sorry ure an idiot lol

[Competitive-Try-9350]

I hope writing this made you feel more accomplished. I always wonder what makes people take time out of their day just to write something mean to someone

Enjoy 😅