Comments By Marc Lee AKA The 100k miles Champ

I didnt want to come back to this thread but beside doing insurance , i have invested in a logistic company that was started in 2016 and currently runs 30 trucks... the way we make our money is by booking loads for box trucks because that is all we specialize in and i know how much the CPM is for the loads we book. We only own 4 trucks plus 26 owner operators.... i respect Brett's vision and mission which is why i have never disclosed this... i roam around this forum because of all the advice that is given in here and when i see a question that draws my curiosity , i call my good friend who was the VP of operations at Schneider for 20 years and Roehl for 15... This site has helped me improve my safety department but i know the freight rates because that is how i make my living: booking freight. i know how much the drivers my company dispatches gross a week

Like Old School said , cell phone offenses are very high security alerts...... insurance companies frown a lot on it

Now do you understand the difference between expedited freight and regular freight?

I am an o/o. I own both truck and trailer free and clear, titles in hand. I run under my own authority.

I am an o/o. I own both truck and trailer free and clear, titles in hand. I run under my own authority.

And if you think I'm dumb enough to go look at holiday freight rates, you're out of your mind.

Are you an owner operator?.... these are people running their own trucks .... go to truckstop.com and check the rates

Cornelius

If class b trucks are making 100k running loads for 2 bucks per mile why aren't the highways packed with box trucks and sprinter vans?

I don't get those rates with a 53.

If you're talking about short 50 mile hops paying that you're just misleading people.

Just asked an owner , the rates are between $1.8 to $2.20 per miles depending of the area, same for sprinters

Are you an owner operator?.... these are people running their own trucks .... go to truckstop.com and check the rates

Cornelius

If class b trucks are making 100k running loads for 2 bucks per mile why aren't the highways packed with box trucks and sprinter vans?

I don't get those rates with a 53.

If you're talking about short 50 mile hops paying that you're just misleading people.

Just asked an owner , the rates are between $1.8 to $2.20 per miles depending of the area, same for sprinters

theyb have to provide me with their profit and loss statements

I agree with Old School. That means nothing. They're not publicly held companies. They're not obligated to release any financials under oath. They can just make those numbers up.

Turning $250,000/year in revenues is massive for a straight truck. Are these teams? What kind of mileage pay are they getting?

Just asked an owner , the rates are between $1.8 to $2.20 per miles depending of the area, same for sprinters

theyb have to provide me with their profit and loss statements

I agree with Old School. That means nothing. They're not publicly held companies. They're not obligated to release any financials under oath. They can just make those numbers up.

Turning $250,000/year in revenues is massive for a straight truck. Are these teams? What kind of mileage pay are they getting?

Yes they are .... theyb have to provide me with their profit and loss statements and they are some people who do quite well

from looking at their financials their take home is around 2k a week

And by that do you mean their tax forms, specifically the line that says, "Net income after all deductions" - that's the only number that matters. Everything else is just a fantasy.

I also find it impossible to believe they're bringing home $100,000 in net profits. Don't worry though, I've found every big number impossible to believe because not one person in 26 years in this industry has ever shown me the real number.

What i can say is that most of my successful trucking customers are into the expedited side of things where they run 26k lbs or less trucks.... they gross around $5k per week , 13% goes to the dispatching company and the rest goes towards all the expenses that comesm with trucking , from looking at their financials their take home is around 2k a week

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Marc can fix everything including backing a truck.... Marc you are a great inspiration to many and have inspired me in other aspect in my life... keep up the good work

I live in Chicago which in chicago language means i live in the suburbs. Living and parking in Chicago is a nightmare. meaning a lot of people live in the suburb and have to use that metra train to make it to their jobs .... parking in chicago at its cheapest is $32 bucks a day but can be cheaper if you catch the early bird thing

Spoonerist relates:

I might’ve shared above that I’m studying dimensional/perceptual reality and how it relates to human (Western) society.

I am in Chicago and saw the "Metra" commuter train and pondered explaining the "commuter train" concept to horse and buggy folks.

I would get some feedback from some of the experienced drivers on the forum about teaming before taking the leap.

I work with many trucking companies

Factoring companies charge between 1.5% to 3% depending on your volume of loads.... Landstar for example offer their own factoring for 1.5%. They set you up with a fuel card that gives you a 15% discount at the pump.... most loads go for 2.15 cpm ...if you are using a dispatching company they charge you 13% for the dispatching and handling of all your paperwork, uber freight charges 1% otherwise you can sign up with brokers directly if you are operating under your own authority

Another thing not mentioned in the article: FLOAT.

As in - most accounts-payable are "Net 30", and the time and expense that comes with having to CHASE YOUR MONEY.

Many O/O's choose to use "factors" - that is, people who will essentially pay off your BOL's, for a 10% fee. Usually only from "approved brokers or shippers". There's also CHARGEBACKS, BOL's that end up NOT PAYING - which results in your factor taking the $$ they advanced you BACK. Most factors will require you to be EXCLUSIVE TO THEM (no "multiple factoring companies") which means you can only take loads that THEY APPROVE (which are loads they have a high confidence will ACTUALLY PAY THEM). So knock another 10% of that gross revenue fee. It's a VICIOUS WORLD out there - between competition, shady brokers. And if you think you get used/abused by shippers as a company driver for a major company - O/O's end up even lower on the totem pole.

Also find the $1.85CPM from brokered loads might be a "little high". Spot rates from brokers are running a bunch lower now (haven't been on the load/brokerage boards in awhile). A lot of the rates are dependent on location. And many "slow lanes" are significantly less. You will NOT SEE $1.85 coming out of S. Florida - and many folks won't even come INTO S.Fla without a rate over $2.00 - so they can just turn around and deadhead out.

As far as a "rookie", just buying a setup and jumping in - most insurers will only insurer a "new guy" with INTRASTATE insurance for year one - which means NO OTR. Even that was incredibly expensive (upwards of $15K).

I did EXTENSIVE RESEARCH a few years ago at the possibility of purchasing a setup and getting on the road as an independent. Even with FULL CAPITALIZATION (as in $200K liquid) and a business plan approved my my accountant and attorney - the risk to reward ratio just DIDN'T JUSTIFY THE EXPENSE.

It's called: BUYING A JOB - and not a good paying one. The "return on investment" was so low, I would be better off putting my $$ in a CD or money market account...

For every GOOD REASON someone thinks they want to go O/O, there are THREE that say you shouldn't. Not to say that there aren't O/O's that aren't making a decent living (and I know a few) - but these are SEASONED VETERANS, not newcomers.

Rick

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