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How much will I make?
That all depends on many factors. First you need to know your answers to the following questions: Will you be operating as a single or team? What size unit are you driving? How often do you plan to go home? What personal limitations do you have? How much weight can you haul? Do you have special equipment? Will you go the distance to take a load? How can your company reach you phone/pager?
These are some of the vital factors that determine what your potential income will be. As you can see, it would be different for everyone. Your limitations mostly lie with how you choose to run your business. If you provide yourself with the necessary tools and you operate in a way that allows you more opportunities to get freight, then your income can be very rewarding. Now that does not mean you should go out and get every accessory available to put on your truck or go beyond a reasonable distance for a load. What it does mean is that you should carefully plan your operations and put together a truck that fits your needs. For example, if you need to get back home frequently, then you may not want to invest in a large sleeper, but apply that money towards a pallet jack or other special equipment.
Developing a complete and accurate business plan is your key to determining not only your income potential but most importantly your profit potential. Someone who earns $60,000 may be just as profitable as someone who earns $120,000. The higher the gross revenue does not necessarily mean you will be profitable.
As a guideline here is a look at what may be reasonably achieved as far as an average Gross Revenue:
Vans............................. Single Driver- $55,000 Team-$ 75,000
Straight Trucks............Single Driver- $80,000 Team-$135,000
Again, your earnings depend on many factors which also makes a difference in your calculated average revenue per mile. The average deadhead (empty miles) can be as low as 15% or as high as 45% of all miles traveled. The lower your DH percentage the higher your net profit will be.
To assist you in learning how to formulate earnings potential and apply certain factors to project your bottom line profitability you can contact Linda Yates, The Expediters Consultant at 877-878-4437 or enroll in the Expediter Training Programs.
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