What am I doing wrong?.........

fins_up_fl · May 18, 2012

I need advice from all of you guys with more exp. under the belt.

I have been with Panther since the first of the year, and have only been home once every 6 weeks, and with a fixed expenses of 800 (est) a week, Im running good, for the most part, and only buying the fuel I have to have. Im making money, but not close to what I think I should be making. My mpg's arnt too bad, 6.0-6.5 average, Im just confused.... I think I should be making (net) 1200+ (even with a slighty higher than most, fixed weekly expenses) I have no idea what I am doing wrong. I take EVERY load they offer, ( which may be killing me??) I take the 'mini's' that only pay a few dollars more than fuel... I know there is something Ive missed... Its been 5 months, and in a few months I wanted to add a few trucks, find a few good drivers, etc.... but, Im now kinda on the edge of the fence. I know its possible, many of other guys do it, and NO, im not looking to get rich off a few trucks, just provide for my family comfortably. But I know Im missing something, I really dont know what it is.. but I have to be....

xiggi · May 18, 2012

fins_up_fl said:
I need advice from all of you guys with more exp. under the belt.

I have been with Panther since the first of the year, and have only been home once every 6 weeks, and with a fixed expenses of 800 (est) a week, Im running good, for the most part, and only buying the fuel I have to have. Im making money, but not close to what I think I should be making. My mpg's arnt too bad, 6.0-6.5 average, Im just confused.... I think I should be making (net) 1200+ (even with a slighty higher than most, fixed weekly expenses) I have no idea what I am doing wrong. I take EVERY load they offer, ( which may be killing me??) I take the 'mini's' that only pay a few dollars more than fuel... I know there is something Ive missed... Its been 5 months, and in a few months I wanted to add a few trucks, find a few good drivers, etc.... but, Im now kinda on the edge of the fence. I know its possible, many of other guys do it, and NO, im not looking to get rich off a few trucks, just provide for my family comfortably. But I know Im missing something, I really dont know what it is.. but I have to be....

Well one thing is you need to take runs that are profitable. If they pay a few bucks more than fuel they are.not profitable.

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chefdennis · May 18, 2012

There is no reason to be taking every load offered..help you are starting your clock do to mini's and then taking yourself out of the loop for longer runs because you now have limited hours available..that is also in additions to taking mini's that don't pay!!

It looks like you know what it cost you to move your truck per mile..so only take loads that will exceed that and be profitable, and more then just a few bucks beyond fuel cost....

If that picture is accurate, you are in a TT, turning down runs that aren't profitable enough isn't going to hurt you as far as exceptences ratio goes..they need you just as much as you need them...look at what runs you take a bit harder...and only run those that will be of benefit and profitable to YOU....

cheri1122 · May 18, 2012

Going home every 6 wks, when home is south Fla, may be taking a big chunk of profit, too. Have you figured out the ratio of DH involved in going home? If it's eating up significant profit, you have to decide what to do about it: find a way to reduce the DH [move your home, go home less often] or adjust your idea of 'acceptable profit'.
Accepting every load is rarely the way to maximize profit [for you, at least] as some carriers/dispatchers take advantage by offering you what no one else would accept.
You need to take a hard look at what you're spending, and figure out what to change - the two circumstances addressed here are just what jumps out from your post.
If anyone said it'd be easy, they lied.

fins_up_fl · May 18, 2012

Thanks guys for your advice. I NEVER DH home, Ive found out there is ALWAYS a load to FL and OUT of FL. I may make just alittle, but at least I get home. I have a few brokers whom I work with that take care of me, (im sure there making money too tho, lol)

But.. after reading your comments, I looked over alot of my trips. And I will say, there are quite a few that are 'minis', and then, after digging deeper, I realize, I really dont make any cash on any of them.. not saying that I will turn down all Mini's from now on, but I will be more cautious when taking these loads, if I take them at all. Ive always thought, more loads= more money... but as I look into it.. its not always the case... Again guys, Im thank you for your time.....

davekc · May 18, 2012

I think you are at least seeing areas where you can make a few changes. Knowing what your costs are is imperative. As mentioned, run loads that are profitable or make them profitable. If you know your costs and they send you a shorty, give them your price. They either meet that or they don't. If you haven't yet ran it, you haven't lost anything.
More loads doesn't necessarily mean more money. But it can mean you will go broke faster if they aren't profitable. Keep reading here and you will do ok.

Moot · May 18, 2012

fins_up_fl said:
Its been 5 months, and in a few months I wanted to add a few trucks, find a few good drivers, etc.... but, Im now kinda on the edge of the fence.

If you can't make it as an O/O, how do you expect to keep a "few good drivers" after a 60/40 or whatever split? Maybe you should concentrate more on the here and now of single truck O/O and forgo thoughts of fleet ownership for awhile. Get the one truck thing figured out first. Baby steps!

LisaLouHoo · May 19, 2012

I think a lot of O/Os have the fleet thought. Worse yet, there are those who never expedited, see vehicles on the road and have the same thought.

Not saying it can't be done, but it isn't cut and dried. It's a b-word. From locating viable freight, carriers, and drivers...none of it is storybook.

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leezaback · May 19, 2012

I live in S. fLORIDA-not easy to drop by the house.. DON"T let the co. run your truck-they will run you into the ground. Try holding out for decent loads like we all try to do. Being a good solider all the time will kill your bottom line. and if there is a garbage load, they will find you and seek you out first because they know others won't take it, Kinda like wearing a target on your head. Concentrate on you before even thinking about adding trucks. nothing wrong with being a single owner, less headaches-more asprin in the bottle for when you slap yourself..

fins_up_fl · May 19, 2012

yea.. \Hell, Im learning ALOT just from this site. I cant thank you guys enough for your input. Im finding this out, what you guys have said, and are talking about. I just HATE the thought of sitting.. Im sure we all do.... However, you guys are 100% right, if I take these "No paying" loads... its worse than sitting.... it cost me more to do that.... AS far as the "fleet" thing works, it will happen, but on paper it was just going to happen sooner.... Oh well, Ill just keep it as a goal, but for now, I MUST get science down pat first! I love a challenge.. I dont quit easy, so 'baby' steps, for now, yes.
But I am determined for this to work... !

rikd57 · May 19, 2012

Chef Dennis gave you some good advice about using your hours wisely. OPPORTUNITY COST is a term that many drivers aren't aware of. Your opportunity per day should average 500 miles. When you kill half of your day for for lunch money, you are killing your profit opportunity. An occasional short run is o.k. if it gets you somewhere you want to go or if they have you another pickup right away so you aren't wasting your 14 hour clock.. The other thing to be careful of is accepting loads that don't pick up until the following day when that means you are sittng until then. This isn't usually as much of a problem with TT's since you are usually pre-dispatched for your next 2-3 loads. The key is to make sure that you are getting the most out of your 14-hour clock each day. On other thing to consider is learning where cheap airfares can get you home from. For example, you could park in Indianapolis and get cheap airfares to anywhere in Florida. Probably cheaper than driving your rig.