How To Start A Box Truck Business (Step By Step)

Рет қаралды 59,638

Жыл бұрын

*GUYS I APOLOGIZE WHEN IM EXPLAINING AT (11:32) IN THIS VIDEO ABOUT OVERHEAD COSTS IF YOU WERE TO BE FINANCING A BOX TRUCK I FORGOT TO DIVIDE THE $1,100 BY FOUR SINCE THE OVERHEAD COSTS WERE CALCULATED PER WEEK. THIS WOULD GIVE YOU A GREATER PROFIT IN THE END. ALSO KEEP IN MIND NUMBERS FOR DEISEL HAVE CHANGED AS WELL, SO JUST TAKE THE CURRENT NUMBERS, AND USE THESE CALCULATIONS TO FIND YOUR POTENTIAL PROFITS!*
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Пікірлер: 117

@covenantdispatchllc7644 Жыл бұрын

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@nonsookwuenu Жыл бұрын

Calculation was off I think. If you bought the truck and aren’t paying rent and Your financing cost is $1100 a month then you have to divide that into 4 weeks making cost per week $ 275 so total profit per week based on your number should be above $1500. Well that’s if your financing payment is $1100 a month and not a $1100 a week

@covenantdispatchllc7644 Жыл бұрын

@@nonsookwuenu I stand corrected.. You are RIGHT!! Sorry guys!

@swhit5928 Ай бұрын

What about cargo insurance you did mention that

@johnwalsh4799 Жыл бұрын

Thanks for the realistic, transparent info bro 👍🏻

@Invertmini1212 2 ай бұрын

If you're reading this in 2024: Do not be scared to call or show up in person to work with customers directly... Especially if you're local they will always appreciate a local partnership. You save them money by cutting out the broker and dispatcher and put more money in your pocket. Thinking outside the box is key in Logistics.. If you're going through brokers or gig work for the time being when you're delivering ask to speak with the Transportation/shipping manager to see if you can get them rates on their lanes and its an easier conversation. I was a broker for 7 years and about to buy a 26ft/Lift and a Sprinter van. If you hustle and make solid relationships you will always be in good shape in due time..

@Blark2020 Ай бұрын

Rudy Gobert coming in clutch for us newbies

@covenantdispatchllc7644 Ай бұрын

Yoo this is hilarious 😂😂😂😂😂😂😂😂

@rickyray3575 Жыл бұрын

Very well said!!!!! Thank You!!!

@minglao2091 Жыл бұрын

excellent video, so informative and transparent !

@chuck9380 4 ай бұрын

Most detailed video I’ve seen this year #Thanks

@insidethesquaredcirclewith9797 2 ай бұрын

Still don't know if the profit of 753 was monthly or weekly

@lovechild872 Ай бұрын

Thank you for making it simple for us newbies

@disco7128 17 күн бұрын

Awesome info thank you

@munyailawson4452 Ай бұрын

Trying to start my own box truck business trying to talk to you get my life started

@user-pm9is3vd3h Жыл бұрын

Do you have any recommendations for long distance trucking insurance beside Progressive?

@ericcollins8325 Ай бұрын

How do you go about finding your companies you will be hauling for and does each company quote you a rpm?

@fca6458 Жыл бұрын

profits need be: $726 plus 923 ( driver ) right? if you drive and bought the truck finance (1.100 month)

@whattowatchrightnow 8 ай бұрын

what about Amazon Relay? Can you get a better rate?

@Jordan-qu9rv 5 ай бұрын

Are there any loads that go into canada? I live by Niagara falls by Canada, if so do they pay more?

@everdream741 7 ай бұрын

Didn’t include truck gps and load boards subscriptions .

@dejlaa5727 Жыл бұрын

Pls bro I got my CDL now but I had a accident in my record almost 4 yrs What is the effect on my opportunity to get a job or if I buy my own truck

@geoffnavolt1970 Жыл бұрын

Xpo has loads for .49 cents a mile. No money

@BlackGirlWanders-SoloVentures 16 күн бұрын

Great info but based on this it seems like it wouldn’t really be worth it right?

@tannermcclung4134 Жыл бұрын

Taxes and tax deductions. I too would love to see a breakdown of how that plays a part in your example

@covenantdispatchllc7644 Жыл бұрын

All transparency I didn’t hide anything now you see the reality of the Box Truck Business when depending on a load board

@LESURELOVE 10 ай бұрын

This is per week right?

@insidethesquaredcirclewith9797 2 ай бұрын

I mustvne missing something did he say your profit every week is just 297 per week if u hired a driver?

@letgoblancoo Жыл бұрын

once you get your expanse out and own your own truck you could see alot of money

@covenantdispatchllc7644 Жыл бұрын

Absolutely! way more potential with a truck that you own flat out no monthly payments

@ystmartinmg Жыл бұрын

You can sleep in a box truck. You won’t be able to do a sleeper berth. You have to do a 10 hr reset

@covenantdispatchllc7644 Жыл бұрын

You can sleep in a box truck only if the box truck is equipped with a legit sleeper. Otherwise you’ll get a fine (if caught) trust me

@ystmartinmg Жыл бұрын

@@covenantdispatchllc7644 nah not accurate. I’ve been stopped and the officer confirmed it because she was about to hit me with a fine. That was in Indiana

@covenantdispatchllc7644 Жыл бұрын

@@ystmartinmg Let me be more clear actually. A driver can’t legally log in “sleeper berth” hours with a commercial vehicle that does not have a DOT approved sleeper attached. It’s a gray area regulation, but there are plenty of people especially non-CDL hotshot drivers, and box truckers that get hit with these violations. Sounds like you weren’t logging in sleeper berth hours, or you just came across a kind trooper or DOT officer.

@jimfurr81 11 ай бұрын

What size truck are you renting? I am looking at a 26 foot/ gas truck, w/liftgate OR a 16 foot/gas truck w/liftgate

@jonmerica22 4 ай бұрын

Get 26 foot so you get paid for the full load . 700 miles for 1500 $+

@phoenix-uc3et Жыл бұрын

sorry if i sound ignorant im just new to this, what about taxes? we just ignore them until its Feb and its time to pay for them? also does gas help as a tax deduction?

@danadane4375 4 ай бұрын

Yes write your gas off as a tax write off, also you may be able to write some of your Insurance off also , food , any equipment , hotel stays. Try very hard to keep Your receipts. ( hope this helps ).

@isaiahblair9079 23 күн бұрын

What insurance did you use for you to pay 470 a month I was paying 1485 for the first year and it bust down to 1300

@ariyantaylor5533 Жыл бұрын

Do you need commercial insurance of your own when renting? Or can you just add on the truck company’s insurance? I know that doesn’t cover the goods being carried but I want to know if that’s going to be another expense, that’s why I’m confused and asking.

@covenantdispatchllc7644 Жыл бұрын

Good question. You actually would need your own commercial auto liability coverage because that is what keeps your MC number active. In any other scenario you could absolutely use their insurance, but when looking to haul freight across state lines, or to obtain your own MC authority you would have your own coverage anyways. Hope that answers your question! 😁

@ariyantaylor5533 Жыл бұрын

Very helpful thank you. When you say “commercial auto liability” does that mean I can get liability instead of full coverage making it cheaper? Or do the load companies require you to have full coverage. Thanks again no more questions

@saidabdelghany7676 6 ай бұрын

When working with a dispatching firm, you must have your own commercial insurance for your truck; how can you pass this with the dispatcher for a rent truck?@@covenantdispatchllc7644

@jay12120 Жыл бұрын

So what is considered a good per mile rate to get paid and what's the average?

@OfficialFearlessServant Ай бұрын

That’s the game. You’ll have to figure it out

@alonzowalker555 Жыл бұрын

Where to find a good Driver if I have multiple trucks?

@covenantdispatchllc7644 Жыл бұрын

Indeed and Facebook Job Posts work like a charm!

@jimfurr81 11 ай бұрын

What I would like to hear is the costs if I Rented a truck or van, but I did my own driving. Do I need all those certificates if I rent a van and pick up loads? My credit is just short of being able to buy a $24,000 used Sprinter type of van or a box truck.

@tonyyoung5971 Жыл бұрын

I am in the process of starting a box truck business. I had an accident in March would that effect me?

@covenantdispatchllc7644 Жыл бұрын

You should be fine you could hire a driver with a CDL and when the insurance company runs an MVR on the driver it will lower your premium.

@ayoubb2806 Жыл бұрын

so you added 1100 a month for finance toa 1 week earning? more like it should be 1100 divided by 4 which is 4 weeks so 275. alot of stuff i can point out wrong in this video btw. you can make more.

@covenantdispatchllc7644 Жыл бұрын

Yes, I corrected myself in the description under the video.

@user-xx1jb8ly2u Жыл бұрын

Right? I thought I was going crazy. This is all based on 2200 miles revenue... you can do that in 3 day and still have 4 more days of driving to do

@loopy2646 Жыл бұрын

What if you did 15 to 2000 miles a week is that possible

@covenantdispatchllc7644 Жыл бұрын

It’s still possible to make a profit depending on the RPM, and the cost of your truck rental.

@BloodMoney-bu6bw 5 ай бұрын

Who pays the toll?? U or the company to which you are hauling?

@user-zj4nf4jx4p 4 ай бұрын

Make the customer pay it, just factor it in to your operating costs, if you do work and never hit a toll for a customer you should still charge it imo but I would label it “miscellaneous”

@cherrelleg8276 2 ай бұрын

If you pay the toll it’s a tax write off.

@insidethesquaredcirclewith9797 2 ай бұрын

Somebody please help me out sounds as if you rent a truck and hire a driver that the driver would make 924 per week and you yourself would only profit around 350 ?

@froy_boyproductions8488 2 ай бұрын

Being an owner means you always get paid last and sometimes less than your workers. But the end goal is that business scales and you make more in the end. I wouldn’t pay 20 percent I would go by industry standard. Maybe a little more since I’m small business. And hope that my driver that is a great candidate can refer me other qualified applicants. So I can keep scaling.

@froy_boyproductions8488 2 ай бұрын

On the road semi drivers. I hear make like 60k a year.

@alexwright8784 3 ай бұрын

If you finance your truck. Wouldn't the $1,100 you added actually be 1/4th that because you are calculating weekly

@covenantdispatchllc7644 3 ай бұрын

Yes I corrected this in the description of this video

@BloodMoney-bu6bw 5 ай бұрын

I officially don’t want to enter the Box Truck business‼️🤦🏽‍♂️

@covenantdispatchllc7644 5 ай бұрын

I don’t blame you. It’s no impossible if you crunch your numbers down precisely

@user-bf9rx9jg6u 3 ай бұрын

You made a mistake 12:19 you added the whole price of the financed payment of the truck instead of dividing it by four for the weekly amount

@covenantdispatchllc7644 3 ай бұрын

I edited my statement in the description under that video.

@SSTR87 3 ай бұрын

You spoke wrong on the calculations. The monthly payment only comes out once a week. The other weeks you would get $1000 in addition

@covenantdispatchllc7644 3 ай бұрын

I addressed this in the description under this video since I couldn’t go in and edit the video.

@zammzaddy4526 2 ай бұрын

You calculated monthly expenses for a week

@covenantdispatchllc7644 2 ай бұрын

Yes I corrected myself in the description under the video.

@jimfurr81 11 ай бұрын

Did you mean Truck Loan payments would be $1,100 a month??? You are calculating Weekly expenses.

@covenantdispatchllc7644 11 ай бұрын

Yes check the description under this video we recognized the error and corrected it

@ryanforbes5275 Ай бұрын

What about taxes?

@covenantdispatchllc7644 Ай бұрын

I’m not a CPA, but take those numbers and do the math according to the state you live in

@ryanforbes5275 Ай бұрын

@@covenantdispatchllc7644 Yes but what I'm getting at is those numbers are barely the average job that being anything really above food service. So unless you own your truck with no payments, work for yourself, or have five or more trucks with drivers then after your overhead and taxes you wouldn't make much a reasonable profit. It just doesn't seem like a way to make a living.

@angelrafael9517 11 ай бұрын

Is not illegal to sleep in a box truck

@covenantdispatchllc7644 11 ай бұрын

You’re right, it’s frowned upon in some places. Should’ve worded it better.

@kaybates3447 2 ай бұрын

The music is distracting , and talking sounds rushed. Otherwise, info itself is useful.

@covenantdispatchllc7644 2 ай бұрын

Thank you for polite constructive criticism! ❤️

@MuhammadKhan-te1zh Жыл бұрын

I think this should be a more clear break down for you guys. Let me know if I made a mistake y’all. Scenario: RPM: $2.00 Miles: 2,200 Gross Total: $4,400 Overhead Costs: ($3.95/7mpg= 0.56×2,200=$1,232) Fuel- $1232 Tolls- $170 Hotel- $300 ELD/MISC- $65 Rent Truck- (.19 cents per mile & $2.100 each month) = $943 Driver- $924 Total:$ $4,104 Profit = $ 396 If you drive & buy your own truck: Gross total: $4400 Weekly Expenses: Maintenance- $300 Fuel- $1232 Hotels- $300 Tolls- $170 ELD/MISC- $65 Total expense= $2067 What’s left? $2333(weekly)x 4 = $9332 Minus Monthly Expense: Finance Pavment- $1,100 Insurance Avg -$1200 ( I know he said $470 weekly but you can a semi reefer insured for a little more that) So $9332-$2300= $7032 This just first year…now if you hustle and pay that truck off that $1100 back in your pocket plus your insurance is always high for a new authority but after a year it drops. So it’s still profitable…

@phoenix-uc3et Жыл бұрын

so if i rent and drive it myself based on this scenario I should be profiting $1,320

@chefmikeankh6434 Ай бұрын

Insurance is too damn high

@fahadijaz8558 5 ай бұрын

Why taking out 1100 finance for a month from first week money ,shouldn’t be divide in four weeks , same thing you did with insurance money, this guy is a wrong number

@covenantdispatchllc7644 5 ай бұрын

It was a mistake I made and made the correction in the description under this video.

@laidbackoutdoors 7 күн бұрын

After watching this video, I don’t understand how he’s not making no money. I can make easily $1000 a day I started up my whole company under five grand and I don’t know who told him that it’s illegal to sleep in your truck, but that’s not true I sleep in mine all the time DOT does not give a shit so all that hotel money is a waste

@covenantdispatchllc7644 7 күн бұрын

At the time of making this video I had associate truckers who were ticketed for sleeping in their cab with no sleeper. If you can add better quality information, create a KZfaq channel and share it 👍🏽

@smoothwill Жыл бұрын

Ain’t no money in the box truck game anymore it’s too over saturated now . Everyone hip to it now

@covenantdispatchllc7644 Жыл бұрын

It depends who you’re connected too. Depending on freight from the load boards will take you out of the game quick.

@smoothwill Жыл бұрын

@@covenantdispatchllc7644 so where do you go if not the load board?

@naciapelmore4964 Жыл бұрын

I got in the game I can tell you, your comment is a 100% wrong, it's money in box truck game its enough money 💰 🤑 for everyone to eat. I am a female owner op it's money out here but if you think your going get 15$ miles it ain't happening

@craigsayshello8239 Жыл бұрын

@@naciapelmore4964 yeah people sleep as long as stuff need to be picked up freight and trucking is forever

@banned474 Жыл бұрын

Just slang dope .oh wait too over saturated too huh lol

@zodiackiller4743 Жыл бұрын

After watching this its not worth it all that stress for a 1400$ weekly pay is not worth it and with the rates all over the place.

@zay2slimeyy599 Жыл бұрын

Im independent contractor and I bring in nothing less than 6k and weekly

@jonmaclin8344 11 ай бұрын

You thinking you have to pay all these bills every week. No. You pay all this one week. So only the first week will look like this and then the other three weeks everything is Profit minus gas, phone bill, and food.

@djc4644 9 ай бұрын

He broke down 1/2 days not a week

@wavykhan7735 8 ай бұрын

The world is full of skeptics .. don’t be another one … don’t knock it until you’ve given it your all. U don’t wanna be thinking about all the missed opportunities 10 years from now …. Good bless 👍🏽

@buddhakai6805 6 ай бұрын

@@zay2slimeyy599how ?