Good post Nightwind, just wanted to add that the authority is $300, per type. Common, Contract, and Broker.

Most carriers will fall under Common, but their some who fall in the Contract category, which only requires Liabilty insurance to be on file with the FMCSA. I ran this way for my first 2 years in business, for 1 local shipper that I inherited with truck purchase from family member. Works great, sometimes. But, when things are slow. It's not so hot.

Originally Posted by Carolina_Beaver_Teaser

Good post Nightwind, just wanted to add that the authority is $300, per type. Common, Contract, and Broker.

Most carriers will fall under Common, but their some who fall in the Contract category, which only requires Liabilty insurance to be on file with the FMCSA. I ran this way for my first 2 years in business, for 1 local shipper that I inherited with truck purchase from family member. Works great, sometimes. But, when things are slow. It's not so hot.

Thanks a million for adding that, see I forgot something which I knew I would.

so all & all is it really worth it to become an o/o? would one expect to make more than a co. driver? If so about how much would a somewhat smart o/o expect to make. also wouldnt you have to put a sizeable amount away for replaceing your tractor every 4 years? and me being single;is that an advantage? I like the idea of being in buss. for myself but i dont want to go bankrupt in doing so. I have a sizeble inheirentance to get started bu i dont want to make the wrong move.

It's going to depend on many things, The main thing is what you hope to accomplish by becoming a driver or owner operator. I noticed that it says you are a student. First finish school, you'll need it either way. Take some courses in business and management if you haven't already, they will be invaluable. Personally having been on all four sides of trucking as a company driver, an owner operator, then a fleet-company owner and broker, I can't say it's worth the additional headaches of becoming an owner operator with the operational cost as high and unstable as they are today. When all the i's are dotted and t's crossed in most cases, you won't make any more money and would be better off investing your inheritance in something that can produce a return that isn't dependent on the price of oil and unstable relations with the countries that produce it. Either way you decide you need to be a driver for a company first and for at least 2 yrs in my humble opinion. Many would disagree with me and that's OK.
Trucking isn't for the faint of heart, nor the ones that want to impress people with tales of their experiences, it's not for those that expect to be home every day, week or in some cases every month. It's not for weak minded or bodied people. Nor is it for those that have no sense of the amount of responsibility that you take on whether as a driver or Owner Operator. It's the only industry I know of that can take everything including your life and freedom. It's an industry that takes everything you have time, money, brains, and nerve. It gives back a sense of accomplishment and some of the most beautiful places on earth and not much more than a bare living in when you calculate the hours that you put into it. Trucking isn't a career change, it's a lifestyle change and not one that everyone can deal with. Once you get into it you never leave it completely as it's an addiction which for me at least has no known cure.

Originally Posted by patman57

so all & all is it really worth it to become an o/o? would one expect to make more than a co. driver? If so about how much would a somewhat smart o/o expect to make. also wouldnt you have to put a sizeable amount away for replaceing your tractor every 4 years? and me being single;is that an advantage? I like the idea of being in buss. for myself but i dont want to go bankrupt in doing so. I have a sizeble inheirentance to get started bu i dont want to make the wrong move.

Nightwind. you said, after the i's are dotted and t's are crossed, in most cases you won't make any more money. just hit me with some numerical data if you will like how much a typical month's income is ( i know i tdepends on certain things) and an itemized list of deductions like fuel (worst case scenario) truck payment, insurance, pm's, any extras that are monthly expenditures. reason being is, i read your first post with all the great info, and i started talking to a friend about buying a truck and start building an company. i am actually trying to get him to get his cdl so we can try and double the income.
thanks a million

nightwind

Thanks for the complement, I appreciate all of them.
What I said was this" When all the i's are dotted and t's crossed in most cases, you won't make any more money and would be better off investing your inheritance in something that can produce a return that isn't dependent on the price of oil and unstable relations with the countries that produce it."

I'll put up an Excel spread sheet that you can see the numbers on later this week when I edit it to reflect the current fuel cost. Keep in mind that the equipment listed in the spreadsheet will reflect payments on a new truck and trailer, but can be edited to what ever payment range you want to use There are some post on here that one member has been posting his loads and expenses and those are close. I think that the post are under Here we go finally an O/O which is here and I think is a wonderful and very honest post which I have been following since it started Broncrider is the member and he has done a wonderful job of sharing his experiences as a new O/O

Originally Posted by Mavrick81

Nightwind. you said, after the i's are dotted and t's are crossed, in most cases you won't make any more money. just hit me with some numerical data if you will like how much a typical month's income is ( i know i tdepends on certain things) and an itemized list of deductions like fuel (worst case scenario) truck payment, insurance, pm's, any extras that are monthly expenditures. reason being is, i read your first post with all the great info, and i started talking to a friend about buying a truck and start building an company. i am actually trying to get him to get his cdl so we can try and double the income.
thanks a million

I don't think that you should pressure him on this as it's a good way to ruin a friendship. I'd like to know how much experience you have in the trucking industry out of curiosity. Why do YOU want to be an O/O?

LOL Your embarassing me! Stop that bowing stuff. I'm not any smarter than anyone else and not as smart as most!

Originally Posted by billybigrigger

nightwind