Thinking of buying a truck for my company and hiring a driver
#11
02-05-2016, 07:26 PM
So I called a local coop that has several locations and they haul to one location to put together 100 car loads of grain. The farthest they haul is 58 miles and pay 21 cents per bushel the shortest they haul is 15 miles and pay 7 cents per bushel wheat is supposed to way 60 lbs per bushel so you should be able to load 660 bushels the long trip would pay you $138.39 or $2.38 per loaded mile the short haul pays $46.20 or $3.08 per loaded mile. I figure you could make 4 round trips doing the long haul in a day figuring for all the stuff that would take up time that you don't count on. So a gross per day of $553.56 figure the drivers time for $15 hr at 10 hrs on the job $150. total mileage for the day would be 484 with 20 miles extra for getting to the start point and back home if the truck makes 6 mpg that's 81 gallons of fuel with local highway diesel at $2.09 equals $161.29 for fuel. If I can buy insurance for $320 a month, that is $10.67 a day for insurance.
So with a gross of $553.56 and costs of $321.96 leaves me with a net so far of $231.60. I know I have not accounted for paying for a truck and a trailer because I don't know what to look at just yet. but with that sort of revenue what type of equipment could I look at and comfortably pay for and have enough set aside for some sort of mechanical disaster, maintenance, tires, and replacing the truck in the future. Also what about workmans comp what would that cost if say my driver was injured. That is what took my cousin out was an injury that made him unable to drive for a long period of time and couldn't keep up with his bills. Thanks again Levi I know a guy near Kansas City who would be willing to talk with you. He owns a grain truck and has a driver. He works for OODIA. Let me know if you would like his name and number. You will likely need workers comp or an occupational accident policy for your driver. Workers comp rates vary from one state to another. An occupational accident policy will cost around $150/month. 
#12
02-05-2016, 07:58 PM
I get my insurance through Acuity https://www.acuity.com/
The agent is Prinns Insurance Prins Insurance | Protection Under The Wing
#13
02-06-2016, 02:44 AM
yes I would be interested in talking to him thank you Gman Thanks for the Insurance info Scottt I appreciate the help
#15
02-10-2016, 12:14 PM
thank you Gman for getting me in touch with him he helped me a lot when I talked with him yesterday. although we both had problems staying on topic, and ended up talking as much about farming as we did about owning a truck!
#16
02-10-2016, 05:09 PM
He is a nice guy, but is a talker. He enjoys talking with people and helping them. If you get a chance you might want to try to go to the Mid America Trucking Show in Louisville, KY. You could make some contacts and meet other like minded people. You can register online for free when you do it early. |
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