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Home > Forum > Going On My Own

Going on my own

Mar 21, 2022 at 09:26 AM CST
+ 7 - 1
Posted by a private FlatLoads.com member.
Posted by a private FlatLoads.com member.
Hey drivers what rates should I take for hopper bottom
Replied on Mon, Mar 21, 2022 at 03:19 PM CST
Posted by a private FlatLoads.com member.
Posted by a private FlatLoads.com member.
Hope you got at 8,000$ set aside for unseen expenses. You'll need to figure out your mileage. WHAT DOES IT COST YOU PER MILE TO OPERATE? There's a ton of factors involved with your question.
Replied on Mon, Mar 21, 2022 at 04:13 PM CST
+ 1
Posted by a private FlatLoads.com member.
Posted by a private FlatLoads.com member.
Idk what it cost me per mile but I know I need to make 500 a day before this fuel hike.. I have been leased to a guy that hauls for beachner and we get paid per bushel. I see that the rates on these loads say 2.25 $2 ect. And if that's the case I wouldn't be able to do it.. and I have quite a bit set back for the truck.
Replied on Mon, Mar 21, 2022 at 04:24 PM CST
+ 2
Posted by a private FlatLoads.com member.
Posted by a private FlatLoads.com member.
Quote: "Idk what it cost me per mile but I know I need to make 500 a day before this fuel hike.. I have been leased to a guy that hauls for beachner and we get paid per bushel. I see that the rates on these loads say 2.25 $2 ect. And if that's the case I wouldn't be able to do it.. and I have quite a bit set back for the truck."

Everyone's per mile rate cost is different. I would sit down & figure your expenses, and also account for ghost expenses that might arise. And from this cost figure what you need to live comfortably, whilst putting some money away. Don't pay too much attention to "some" of the brokers on here that are trying to chop down the rates of these loads. Find consistent shippers that wanna do work with you, and move from there. Also, the reason I put some in quotation marks is because there are some good brokers that want to have a mutually beneficial relationship with you. They wanna make money, while you make money; and want to help you achieve your goals along the way. I hope some of this was helpful. God Bless
Replied on Mon, Mar 21, 2022 at 08:53 PM CST
+ 2
Posted by a private FlatLoads.com member.
Posted by a private FlatLoads.com member.
The bulk loads podcast with Tim Brady. It's called don't be part of the 90 percent....it's a great podcast to listen to from the financial perspective. I know it would have helped me alot when I got into it. I know my advice I'd give to myself 4 years ago would be this. Whatever you think it costs to operate profitably, you should double and you'll be in the ballpark! It's different for everyone though. Good luck
Replied on Tue, Mar 22, 2022 at 08:17 AM CST
+ 4
Posted by a private FlatLoads.com member.
Posted by a private FlatLoads.com member.
Quote: "Idk what it cost me per mile but I know I need to make 500 a day before this fuel hike.. I have been leased to a guy that hauls for beachner and we get paid per bushel. I see that the rates on these loads say 2.25 $2 ect. And if that's the case I wouldn't be able to do it.. and I have quite a bit set back for the truck."

No offense intended in my reply, just trying to help you out but you need to know your costs before you can even think about establishing a rate. Everyone is different, your cost to run is not the same as mine or the next guy. There is no magical number that will guarentee your success or failure, but you want to make darn sure that your costs are being covered and not working for free.
Replied on Tue, Mar 22, 2022 at 03:55 PM CST
Posted by a private FlatLoads.com member.
Posted by a private FlatLoads.com member.

Minimum $4.00 a mile. Then if you have to sit 10 hrs to unload double it. Make sure when you agree on price any reroute price if you get a load rejected and you spend another 6 hrs to really get unloaded.
Replied on Tue, Mar 22, 2022 at 09:16 PM CST
Posted by a private FlatLoads.com member.
Posted by a private FlatLoads.com member.
Quote: "Minimum $4.00 a mile. Then if you have to sit 10 hrs to unload double it. Make sure when you agree on price any reroute price if you get a load rejected and you spend another 6 hrs to really get unloaded."

If a load gets rejected you need to know why first. A driver hauled metal shavings in a hopper and then loaded cotton seeds after that. Didnt washout or anything. Should that be the brokers fault or the carriers fault? Personally I think it would be the carriers fault. If you have to sit for any length of time to get loaded or unloaded, you charge a fee for the use of the truck and the drivers time. I charge $100.00 after the first 2 hrs. I also make the broker is aware my driver is having to sit. There's another catch there too. If the facility has a brake down or a reason for having the driver wait, then yes you charge. For mostly anything else, you can try to charge but probably wont get it.

Replied on Mon, Mar 28, 2022 at 12:45 PM CST
Posted by a private FlatLoads.com member.
Posted by a private FlatLoads.com member.

I have always used the form of the attached spreadsheet and then set it up for my needs. I did not create this spreadsheet; I found it on the interwebs.

Replied on Mon, Mar 28, 2022 at 12:45 PM CST
Posted by a private FlatLoads.com member.
Posted by a private FlatLoads.com member.
Quote: "I have always used the form of the attached spreadsheet and then set it up for my needs. I did not create this spreadsheet; I found it on the interwebs. "

I should state that I have modified it and here is the attached version I use.

Replied on Mon, Mar 28, 2022 at 02:49 PM CST
Posted by a private FlatLoads.com member.
Posted by a private FlatLoads.com member.
Quote: "I should state that I have modified it and here is the attached version I use. "

This is a formula I found. It goes off monthly instead of yearly. No one knows how many gallons are purchased for the year until the end of the year. I go off of how many gallons it took to run a load then use the rough average cost of fuel at that time. I also go off of ALL miles. Not loaded and empty. You need to figure in every inch that truck rolls. I try my best to keep up with the cost of fuel from one state to the next and adjust my number accordingly. I know what my fixed cost are and what the average cost of everything else such as repairs. I also try to keep up on the cost of that by listening to other drivers and calling about certain parts. You never know if you'll have repairs that month or not. Its a good idea to go ahead and put back money in case you have a major repair to do. I also have a driver to pay too. The "insurance" line is the cost of the monthly payment that includes everything. I know what my policy covers.

These are Not my numbers. Its an example of what I found.

Replied on Tue, Mar 29, 2022 at 08:53 AM CST
Posted by a private FlatLoads.com member.
Posted by a private FlatLoads.com member.
Arti 2019 study listed the industry average at $1.821 mile. Every single cost has increased significantly. Fuel is our largest cost and that has overdoubled since the study. The first 4500 dollars ever week goes to the truck.
Replied on Tue, Mar 29, 2022 at 09:21 AM CST
+ 1
Posted by a private FlatLoads.com member.
Posted by a private FlatLoads.com member.
Your costs being new will be higher than average.
Replied on Tue, Mar 29, 2022 at 09:22 AM CST
Posted by a private FlatLoads.com member.
Posted by a private FlatLoads.com member.

I agree with the previous posts. I'd like to add one thing. After getting your costs nailed down, I'd do an in depth study on the climate in the industry and what's ahead in the near future. You may find it may not be the best time to jump in. I just got back from MATS and the below article seemed to be a common topic from some of the vendors and attendees I spoke with.

https://www.bulkloads.com/tools/news/Just-3-years-after-2019s-trucking-bloodbath-another-is-on-the-way/
Replied on Tue, Mar 29, 2022 at 09:22 AM CST
Posted by a private FlatLoads.com member.
Posted by a private FlatLoads.com member.
And remember you can drive someone else's truck for $1500-2000 per week.
Replied on Tue, Mar 29, 2022 at 03:33 PM CST
Posted by a private FlatLoads.com member.
Posted by a private FlatLoads.com member.

I also forgot to mention. One thing I figure in when I'm negotiating a rate is who the broker is. If a broker offers a "quick pay" option there is usually a percentage they charge. Some its 2.5% and some are 5% and few none at all. I look at what my final pay would be after that percentage is taken out. Make a list of all the brokers you use and to the side list if they charge a percentage and how long it takes for pay. Thats just me.

Example:

Broker A - 2% 2 weeks

Broker B - 3% next day

Broker C - 0% 30 days
Replied on Fri, Jul 15, 2022 at 09:10 PM CST
+ 2
Posted by a private FlatLoads.com member.
Posted by a private FlatLoads.com member.
Just wondering if you ever went on your own, or still thinking about going on your own with a hopper? For what it's worth, my own personal rule in business is to never try competing with either immigrants or retirees, they can/will do the job cheaper most every time. That same rule should also apply to farmers with a hopper. You can't compete with them if you are an owner/operator truck driver, or at least not make the money you could hauling other freight. I would highly discourage you from buying a hopper unless you have grain of your own to haul on a regular basis. A lot of farmers/farmer fleets are just trying to find a way to better cash flow their hauling equipment and keep a hired man/woman busy on the off season. That is a tough business environment. My suggestion would be to buy a dump, belt, or walking floor trailer. Be able to haul the freight that hoppers can't. Bulk Loads is a great tool for getting started. But leave the hoppers to the farmer fleets. Just my .02. Best of luck!