Making Money

[HotShotKid]

This is my first-ever post here in EO and I just wanna say hello and a Happy New Year to all the truckers out there.

I just need some advice on the path I'm taking in Expedited/ Hot-Shot work.

I have a 'C' class license and drive 26' straight trucks. I live in Chicago. I had been doing hot shot work (as a company driver) for a small company for 6 months and have learned a few things that go with the trade.

I saw the opportunity of making a lot more money and decided to start off on my own. I currently rent a 24' truck for $350/wk or $70/day & pay 10 cents/mile. I like the flexibility of renting a truck cuz I can return it after doing long trips (Ex:Houston/Vegas/New Orleans/New York) After doing such trips I usually rest for a couple days at home.
The straight truck I use is a International 4300. The gauges say it gives me 8mpg... it seems right to my calculations

I have two customers at the moment. One company pays me $2.05/mile and the other $2.20/mile... Hopefully these are good rates I'm charging or should I charge more?? what do you think??

I'm thinking of buying my own straight truck (used)... but I dont know which model/make is best to purchase. Which is best for hauling power and mpg savings???

Again I appreciate all your help and any input.

 

[Moot]

Greetings Kid and welcome to E.O.

One company pays me $2.05/mile and the other $2.20/mile... Hopefully these are good rates I'm charging or should I charge more?? what do you think??

It really doesn't matter what any of us think about your rates. It comes down to you and your customers. If you can make a profit and provide excellent service and your customers are happy, why raise your rates? You could be inviting competition. I'm sure your customers were customers of some other carrier before you came down the pike.

I'm thinking of buying my own straight truck (used)... but I dont know which model/make is best to purchase. Which is best for hauling power and mpg savings???

I personally believe engine size, transmission and axle ratio are more critical to hauling power and mpg than model/make. You should visit a few different dealers and spec a new truck. By giving a salesperson a description of your operation and requirements they can build a truck for you. Use these specs and go shopping for a used truck that closely matches your needs.

 

[Tennesseahawk]

Moot is right about your rate being right for you and your customer. But I would say it's currently above par for the market.

 

[fortwayne]

IMO rates are built through your customer service.

 

[Moot]

But I would say it's currently above par for the market.

Not much to gone on from the original post, so we don't know what market he is in. (Ex:Houston/Vegas/New Orleans/New York) Could be some type of trade show business that involves blanket wrap, loading, unloading and setup. Every vague info for wanting advice on rates and trucks.

 

[ntimevan]

Back in 2003 threw 2007 my 8.3 cummings with a 9 speed i averaged 10.5 mpg over 450,000 miles at various speeds . Plenty of power, had 22 ft. box hauled loads of 13,500 lbs down to 50 lbs. ( average load 3000 lbs. ) hope this helps. Also do you have a sleeper on the truck your renting if not you'll need to figure in MOTEL costs .