I don’t know anything about Eddie stobarts offer but , I’d of thought that you would be signed up for the contract duration of the truck , i.e. 3 years or 4 with no freedom to move or do other work , I wouldn’t imagine eddies accountants would be offering Anything that other big players aren’t and you will have more freedom from having your own truck ,
(only a new truck as pointed out) ,
which won’t be yours at the end of the term , you won’t have anything more of a trading history with lease companies, h.p companies fuel companies either,
unless you have the money to pay insurance up front which will be quite heavy with a new rig to insure that would need to be financed too , ,
the bank may see a Eddie stobart cheque every month just the same as if you were driving to them that’s all .
Unless your very lucky being in the right place at the right time most of us will start with low paying haulage rates to get on the trading map and build up a history , many will not be working everyday to start with ,
My advice would be buy a Renault premium with as low a kms as you can find there not a bad truck for the money ,cheaper than a family car take work from any of the big players if you have too build up a trading history keep it right no missed payments and you will soon be turning away credit
I see no benefit in paying someone else new lorry for them and still have nothing to show for it .
Most big haulage companies will have 5-6% profit on turnover but Eddie wants 18% of yours ?
Maybe its their way of getting out of the pension side of things?
dieseldog999:
id be making a point of finding others on the same contract and getting told the story straight from the dokeys mouth.
I was a subbie for ten years(employed)it’s was 25% and that will not let you earn more than a fleet truck.no matter what
Just bear in mind that behind every scheme there’s a schemer.
The first time Stobrats do any thing good for anyone apart from their selves … then I’ll believe in the sugar plum fairy …
Is it not hypocritical that a firm that used (and still uses) the economies of scale to undercut a lot of private profitable companies, and put them out of business wants to employ owner drivers to use the same business model? You will become a kermit coloured busy fool.
If it sounds to good to be true…
It usually is.
There are a lot of things missing from the expenses and not enough profit to make it worthwhile when you factor those in.
It’s a money maker for Stobart, they’re not known for their philanthropy. If they can make more out of a leased operator than an employed driver on a zero hours contract, you don’t need to be a rocket scientist to work out that extra profit for them is coming from your pocket.
How did this turn out? Any millionaires wish to comment from their private island?
Wheel Nut:
How did this turn out? Any millionaires wish to comment from their private island?
Bailed on the idea & didn’t have enough contacts to be able to guarantee work - i have no doubt i would have made a reasonable wage but away all week wasn’t an option.
If you had an ops licence now you could be making a fortune… a mate i drive for regular running 14 shifts a week at supermarket will be doing well (tesco livi £450 per shift) morrisons midlands area (no clue where abouts dont ask circa £500 a shift).
Although the driver shortage will be driving rates up - who knows how long for & tesco etc will be desperate to get their own staff on rather than pay subbys - driving rates are up but tescos not putting subby rates up so subbys cant put drivers rates up. I seen on facebook a haulier subby to Stobarts complaining that they cut rates and Stobart’s admitted to them that they were running a loss on every subby load £50-£100 just to get it covered.
I left the industry and went into heavy plant operating, not far off double the wage I made as a driver, home every night and a lot less stress and complaints, rates in Scotland nothing crazy but if i lived anywhere near the HS2 i would be making a phenomenal wage.
I would advise all against joining a company that pays this “joining bonus” as they will have terms in that mean sick days, any damage etc and they won’t need to pay out. And they will also be able to sack you without reason for your 3 month probation which they probably will do to save themselves £2000.
I just thought three years down the line would have been a reasonable barometer reading of the situation for anyone who took the carrot.
Sent from my iPhone using Tapatalk
Wheel Nut:
I just thought three years down the line would have been a reasonable barometer reading of the situation for anyone who took the carrot.Sent from my iPhone using Tapatalk
There must have been someone… not me though!