Trucking: Hot Shot Trucking, trucking business, luck mike


Question
Michael- I know a couple who have started a trucking business here in Houston, they have one truck, the wife is the broker, and the husband is a driver. They've recently hired a driver for their rig, and the husband has presented an offer to me, that I have been really thinking about. I mentioned to him a few months back that I wouldn't mind investing in a pickup, and a gooseneck to make some extra cash, and he said that if I were serious, he'd drive my truck. They're a small business, so far they seem to be doing fairly well with the one truck. I'm a trucking novice, he mentioned that I could lease with his company. Can you please explain to me the priniciple of "leasing?" He said that I could pay him a driver salary, but would not have to pay a fixed fee to the broker which is his wife. Instead, I could tell them, for example, "I'd like to gross $500/day," and anything over that would be considered a "broker's fee." Have you ever heard of an agreement like this? I can see both the benefits, and the drawbacks, but I thought that I should seek some professional advice.
Thanks for the help,
Eric Johnson

Answer
Bad Idea. Seek a lawyer to look at the contract. If the guy has a truck, why would he drive some elses truck?? That's like buying a store, hiring someone to run it, and you going to another store and running that one for someone else!!!! Usually a brokers fee is around 10%. Don't screw yourself. Why don't you drive yourself?
Leasing a truck to a company is basically the company will furnish the loads and you haul it under their authority. plain and simple. If you want to do this, find your own driver. Good Luck. Mike