There is a MASSIVE OPPORTUNITY in starting a Dump Truck Business. There are a shortage of CDL drivers so therefore there is a shortage of Trucks. Here is how we can start it.
Know your costs associated with starting:
– Reliable Used Tri-axel Dump Truck: $100K
– Down Payment: 10% = $10,000 = $90K loan.
– $90K Loan = 6 Year Note = $1,500 a month
Insurance: $10,000 a year = $3,333 a month
425 Gallons of Gas a Month = $1,900 a month
TOTAL Monthly Cost: $4,233 – $50,796 a year
How much money can we make:
Average Rate per Load: $160 – $200 = Average: $175/per load
Average Loads Per Date: 5 Loads
6 Days a Week = 30 loads a week = $5,250 a week
$21,000 monthly income = $252,000 a year.
CASHFLOW:
$21,000 a month income
$4,233 a month in expenses
==$16,767 in profit per month!
Annual Profit: $200,000!
Ability to Scale. Since we are cashflowing so much we need to reinvest back into the business and get another dump truck. As you grow your business, you can get out of the truck and get into the office.
Find drivers you will pay by load or pay them by the hour.
Think of all the ways in which it can fail. Create Strategies around minimizing it.
1. Can’t get loads. You failed to network with other dump truck companies, aggregate companies, general contractors, etc.
2. No showing. You need to do what you say you will do. If not, people will never call you again.
3. Safety and Insurance. If you get DOT violations and have a ton of insurance claims. No insurance companies will want to quote or you will have to pay way to much.
4. Failing to Scale. Not creating relationships with other drivers in preparation for growth.
Legal Up.
1. Create an LLC
2. Buy Insurance. Look up wexfordins.com
3. Attorney to review your contracts.
Commit to Starting.
#dumptruck #trucking #entrepreneur #businessideas #entrepreneurship #business #entrepreneurlife
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Great Video. Im strongly considering starting a my own dump truck business. I'm currently working as a garbage man and made 115k in 2023. My goal is to make more money and also have more flexibility with my time in the future. I have some savings and am looking to talk with someone who has experience with owning a dump truck in chicagoland. i will consider paying for time and wisdom and knowledge of starting a successful dump truck business in Chicago. Thank you God Bless.
bro i spend 7k a month in gas alone, that doesnt include driver pay, insurance, tolls, breakdowns, tows. storage, tags, mmr, maintenance & taxes. business right now is pretty shitty
Hey how about working as an operator for some time and buy an own truck after some time?
450 gallons "A MONTH" what is your operating range 5 – 10 miles? I currently drive a tri axle dump truck and run on average 250 miles averaging 8 loads a day 5 days a week and use 65 gallons a DAY in fuel running 2019 emissions equipped truck.
I had to pause this when I hard him talk about your cost of 'gasoline' running a dump truck business. This guy has NO IDEA what he is talking about. There are people on youtube who make videos for a living. Its hard to come up with content so some people just do very superficial research on a subject, in this case different businesses you can start, and pretend they are offering you valuable advice. DO NOT take any business advice from these people, they do not understand the risks and pitfalls of what they are suggesting you do. I used to drive dump trucks and I currently own other businesses. I am not knowledgeable enough to give you advice about a dump truck business so this guy definitely is not.
@nate_indiana_jones
Nate Jones needs to remove this entire video. It is full of misguidance and falsehoods. He has no clue which end of the truck to load let alone how to drive the truck. His price "facts" are WAY WAY OFF as are his income numbers. First off, a Triaxle that is usable and not needing a complete overhaul to include the bed floor for 100k USD is absurd. His "gas" fuel cost and usage is so off base it's not funny. If you follow any of his advice, you will be broke down in your first day and broke in 30 days.
New sub the numbers makes sense
Unrealistic numbers, I didn't even get half way through and knew you were way off. If your making 252k your working day and night as a owner operator. And thats if your in a state that has no winter or spring.
Only 5 loads a day?
Add'l mo exp: Maint ($1,000), repairs ($1,500). You may also have a parking & broker expense.
I had no idea there was this much money in the dumb truck businesses. I am sure it is hard to scale.
I own OTR small fleet, my only issue is is there any bidding for these lanes or contracts would love to connect with you for insurnace also based off NYC currently
How about a cash truck for about 50k and run through it with about another 20k? If i have that much cash available.
Thank you! This was very informative! I’m working on starting my business as we speak. I will definitely be contacting you!
Clickbait!!! you'll be lucky to make $80,000 after expenses.
Does this applies for end dump bussines as well ?
As a trucker for 16 years again the truck business it’s dead and it will be gone in about 4 years. The market it’s extremely saturated with all this immigrants drivers taking bad loads and bad pays so don’t do it .
nate, you in calf?? in in LA right now B&R in Ct new haven
What's missing is the taxes!
This guy lost me at “gasoline costs”
Where did you get the job and contracts?
Dear sir,
I hope this message finds you well. I’ve been following your journey in the dump truck business on YouTube and have been truly inspired by your success and insights.
I obtained my CDL-A license in 2018, but I haven’t utilized it as I was a teacher until recently. I made a quiet exit from teaching due to the constant scrutiny from superiors and the increasing difficulty of the job, despite my love for the students.
I am now seeking a career change into the dump truck industry and would greatly appreciate your advice on getting started. Specifically, I am interested in whether I should initially work for a union or non-union company. I’ve seen many trucks on the road and assume there are pros and cons to both.
Additionally, I’m curious if it would be wise to gain a year or two of experience before purchasing my own truck and starting my own business. I value being home with my family daily or every other day and want to ensure this career choice supports that goal.
Your guidance would mean a lot to me as I look for a positive change and a successful future in this industry.
Thank you for your time and advice.
John
I was thinking about jumping in the dump truck business not buying no hundred grand truck though I’ll find a used one around 35 $40-$50,000 to start
I was thinking about jumping in the dump truck business not buying no hundred grand truck though I’ll find a used one around 35 $40-$50,000 to start
How do you find work for your dump trucks?
😅
Good evening, I congratulate you for your channel it is very helpful, I live in Minnesota and I would like to know if you know anything about employment
Good advice, thank you.
Do you offer a mentorship program?
I love how people that never did what they are talking about give advice. There are waaaayyy more expenses running a truck than that. Insurance seems a little low with a financed truck to me. DOT compliance, This video makes it seem like Class A dump trucks never need any Parts and repairs… the older the truck the more down time you will have. Everyone always acts like you're going to generate X dollars, because you can do this much work this many days a week. Driver Salary and workers comp in there too. Have you ever had to pay for an 11/24.5 tire repair on the side of the road? Also who is paying you? Is it individual accounts and customers? Then you will need to pay someone for billing and hope everyone pays on time.
What size of a truck are we talking about? Difference is also what are you hauling. Are you hauling customers load or are you buying and selling gravel/sand. I charge per distance base-loading-unloading-base. Additional charge for over 2h waiting time.
4:20 -ish…that's a 20.2% profit margin per month. Did I do that right (4233/21000)? If I correctly calculated, that is incredible.
Nate – separate business of loads and owning a truck (2 businesses), or some other way?
I don't hear the driver salary taken out of the expense numbers.
What about weather. Not much construction when it rains right?
I have been diving all kinds of class A and B vehicles (including) dump truck, roll off, flatbed, dump trailer, walking floor, ect. I know a lot of drivers and owners. I know very little about Maintenance and repairs. Was thinking about doing a 2 year diesel mechanic school of at the very least a 2 year auto tech school to save money on problems and repairs. Is this a good idea or should I just jump right into it?
You recommend starting a trucking business in the state of FL over the state of MA? Is starting a trucking business in FL worth it?
What kind of cdl is needed?
I’m looking at all these comments and I’m seeing a shit ton of Owner-Operators complaining about the numbers. If the dump truck business was trash, it wouldn’t be in business. Majority of yall don’t know how to operate a business in general and are in the comments complaining .. what is up wit yall?
Trucks get $105/hr – $115 fuel burn for 8 hr day is around $400/day hired driver $27/ hr avg. hoping nothing happens to truck that day Not much of a profit. Still need to pay insurance plus your plate roughly $15000/yr this is the basic stuff there is more. I wish it was as easy as he says unfortunately, he is not even close
Thank you Lord Jesus for the gift of life and blessings to me and my family $14,120.47 weekly profit Our lord Jesus has lifted my Life am no longer a truck driver!!!🙏❤❤❤
I started with a 2012 Mack I picked up for 5000 I put batteries, radiator, turbo, pdi turbo manifold for 2500 so 7500 for the truck, and a set of older belly dumps for 4000 dollars put 2000 into them so 6000 into the trailers insurance I paid 9600 my first year so that turns to be around 700 a month then 5000 down for fuel I held outside and 3500 for registration for the truck and trailer tags etc and the first year that truck and set of trailers paid them selves off and turned a profit of $112,000.00
Can dump truck owners make money renting their dump trucks out to drivers❓
Well, he might know numbera, but I doubt he knows anything about trucking of any kind. most if not all commercial trucks use diesel, not gasoline.
Can you use the business credit for a down payment, once you open up your LLC
I go thru 300 gallons of diesel a week not a month
Up here in WI..you definitely won't come close to even 200k gross.
Most people never take into account winter weather and spring rain. You may not work for 1-3 months a year
Amazing video thank you