Simple Question, is it worth it?

brickman you are right on 1 level.FREEDOM.THATS IT.FREEDOM..I WAS WITH LANDSTAR FOR 3 YEARS AND THE FREEDOM WAS UNTOUCHABLE..but you cant have that freedom and make all the nessissary payments you have when in this business.at landstar rates i had to kill myself and give alot of freedom up to survive the cost of owning a rig and trailer.i sold out 2 months ago.during the end with landstar ranger they milked my money over stupid stuff and i eneded up with 600.00 for me after all expences on road,insurance,meals,lodging,REPAIRS,AND SO ON.BUT IF I HAD A WEEK OF NO HASSLES WHICH ARE RARE,THEN I SEEN 1,200 DOLLARS FOR ME AND MY WALLET.SO ITS A VERY RISKY BUSINESS AND YOU HAVE TO HAVE ALOT OF LUCK,LUCK,LUCK THEN YOU MAY MAKE IT WORK.

 

your right brickman.ls flatbeds pay well and that is the only way to go with ls.you win this one my friend...lol,lol

 

Being an O/O is good IF you:
1) Want to manage your own time & destiny
2) Have a desire to run your own business
3) Can manage your money well
4) Understand profit/loss, cost per mile, depreciation
5) Have a good CPA!

On the other hand, if you don't like paperwork, you certainly won't enjoy the added bookkeeping required either.

I think the two biggest problems for new O/O's is buying more truck than they need/can afford, and not understanding the tax implications of a company driver versus an indepedent.

Look around: there are lots of owner operators out there. And many have been doing it for a long time and quite successfully as well!

 

I say yes for owner /o like tx said everyting is for smart people. we start 18 m ago and do well yes we work like horses for now but we own 2 new trucks and don't lease to some company we have own dispachers and use them of course we have to dealing with them all the time but its worth. paper work we give to the office so only 1 think we worry is driving.One more think 1 truck - 1 O/O that's all.Only one way to make $$ and good living!

 

If you have your own authority and use all of your legal deductions and are really lucky,and are mechanically inclined,and don't mind getting down and dirty,and don't mind climbing up and under your own truck and checking checking checking,everylittle thing,and don't mind doing most of your own work,then maybe,just maybe,its right for you. Like the other person said,study,study,study,learn all you can about trucking business first,then figure exactly to the penny what that truck will cost you to the penny per mile,versus driving for a company on a company truck per cents per mile ,without all the extra deductions,like your personal vehicle gas and repairs,payments,insurance,your son or daughter can wash or work on your truck and you deduct so much,your wife gets paid to do bookkeeping for you,there are many deductions more owning your own business,but you must know how to run your business,or have good people to pay to do it for you. If you are lucky and smart,you can retire early with your own retirement plan,alot better than that company job,although union retirement is hard to beat. It all boils down to what you want out of it,like freedom to work or not work,take time off almost anytime,nice vacations,no one forcint you to do anything you may not want to. I only recommend it to 100% dedicated business minded people. I am at present getting ready to do it again for the forth time but with alot more insight and hindsite. good luck whichever way you go. If you have your own authority,you are teuely alot more independent,if you lease on,sure they pay,permits,plates etc,but you are tied to them alot more,and may make 68% of the load,instead or 90% of the load. Then again,get the calculater out to the total cents per mile on anything you decide and go from there. Remember one thing,with your own authority you can ussually get all the miles you want to make as much money as you need,with a lease on,you don't keep your own logs,they keep them,they also control your miles and income every week to some degree. With your own authority,you can get your own loads every week or day from any broker,every day,keep your own logs,run the way you want,when you want.You just have to keep your own logs right and up to date as you will get audited by your state,and or Irs,then again,good records are the key. hope I have helped you decide what is best for you and your family.Do not buy your own truck unless it has the motor rebuilt and guaranteed,unless its a low mileage truck,that will surely put you out of business before you start,the truck sale lots are full of worn out high mileage trucks that you don't want,thats why they are there,leave them there and get one with a motor less than a year old,with a new clutch ,trans and rears,tires and brakes,and you will have a good chance of making it. Live of what you need,put the rest in bank for repairs you can't do and tires and maintenance,and don't forget your estimated tax,set that aside and pay quarterly like you should. You need a good accountant that knows trucks,a financial planner one,is a big plus in my book. he tells you when to replace equipment or when to keep it.

 

"Outlaw trucking" (your own authority) is the only way to go. It is not for the faint of heart though. You do not have anyone to fall back on , except yourself, when freight is slow and the weather is bad. If you are looking for a 70 hour job, this is not the way to go.
Buck and a half stated the facts pretty well in the previous post.You will work harder being an "Outlaw" than you ever would being a "company" driver, or even an O/O leased to a company. But the rewards are fantastic if you are able to pull it off. You can and do achieve the trucking freedom that most drivers say that they are looking for.