To start Owner Operating or not????

I am very unique. Yes I run a flatbed (rent as needed until I find one I can buy) - but I only run part-time.... I think there is more money in flatbed (and some may disagree) but it is hard hard work.

Even though I do this PT, I know all of the expenses and start up costs. Running your own authority is no trivial piece of work.

Unless you lease to someone your responsible for IRP/plates, UCR, IFTA, 2290, insurance and even the cost for an alcohol/drug program enrollment you must obtain.

You really need to also investigate insurance. That is typically the highest cost (outside of fuel) that we need to pay. It varies all over the map from $4k/yr to well over $10k/yr depending.

Having years of driving experience is the best thing, which you guys have.
But a full and complete understanding of operating your own Authority takes some good business skills and research.
You will face a mandatory DOT audit within the 1st 18months of your initial DOT approval...they will review all of your business and policies.
You are treated just as if you were JB Hunt to the DOT.

One truck or thousands. All the same rules

PS. There is a really good thread on here that explains ALL of this in detail.
So much so that it could actually change your mind:

http://www.thetruckersreport.com/tr...-operator/13608-so-you-want-own-your-own.html

-JD

 

It can be better to be an O/O. I'm not sure though, your husband says it is "easy" to get good flatbed loads. If he can consistently get loads that pay 2.50 or more both ways or without a lot of deadheading and keep the truck moving he'll probably do all right.

The thing to remember is that when you're a company driver you are in the business of driving a truck. When you become an O/O you are in the business of driving a truck, but you are also in the business of maintaining records for the government and complying with rules and regulations. You are also in the business of buying and selling trucks and maybe trailers. You're in the business of maintaining equipment and buying tires. You're in the business of booking loads.

All of these aspects of your business allow you opportunity to put money in your pocket or shell it out.

 

I agree with every thing here the rewards can be high by owning your own truck if he is going to biy id sugest leasing on with a company the two flatbed companys I know that treat there drivers good R
Landstar wich u can pick ure own loads and take more than one persons freight you could hall three item and gross 4000 for it the other one is Mercer if you get ure own authority youll wanna be bonded and isally for ten grand and youll have to get your MC number to start id lease on with a company

 

i am a flatbed owner operator, i have owned my own truck/business since 1990 and started driving in 1980.

i have always made more than a company driver. i dont understand the statement " in most cases make less than a company driver"". if thats the case then someone is doing something very wrong.

i have found that flatbed rates will be greater than van rates generally. i would also suggest that at first lease on with a good flat company first before getting authority if he is just strating out as a owner/op.

i have done both, had authority for 14 years, leased on for 3 years before doing authority. then i wanted to take it a little easier, so i went back to leasing after comtemplating retiring from trucking in dec 2008 to may 2009. i built my son a house during that time.

i have somehow managed to raise 5 kids, have a house, and all the other stuff, make trips to disneyworld at least once and twice a year lots of times.

my time with family is one reason i usually dont do my own truck repairs any longer, after many years of doing this, the extra money spent for mechanics was a good trade-off for time with family.

for him to truly make it, it will have to be a family commitment, you will have to be behind it 100 per cent also. there will be times when he calls and says honey, i need you to got to kkenworth and pick up an alternator and have it home when i get there, got to change it and get gone.

the kids will end up helping wash the truck, hand wrenches, etc .

if the entire family looks as that truck as its lifeblood and puts a family effort into it, you can make it.

there is a reason for failure and a reason for success, 99 per cent of the time its the people looking back at you in the mirror.

some on here seem to discourage anyone from taking the plunge into owning his business, i dont . it has been an adventure and honestly looking back, i wouldnt have it any other way and would love to do it all over again.

 

i see you are in campbellsville ,ky. good location for mercer and the regional midwest fleet.

 

You obviously know the business. Many of the people trying to get into O/O don't really have a clue and when they see freight rates fall and still have that bank note, they try to pull anything they can get and, well you know where that story ends. Dont haul cheap freight! - You never make it up in the end, when thats all you do...

This particular business has many failures. I don't know the numbers but I am sure it's high. Knowing business and how to price yourself correctly is key.

Anyone remember REDD from this forum? - Great example.

 

Few points to ponder:

There are a lot of trucking companies, big and small going under. Some for mismanagement, but not all. A lot of them were doing everything they could to stay afloat. Even with discounts on fuel, tires, doing their own maintenance, etc., they still went under. Some had many years in business, and still failed, doing everything right.

Fuel prices are sky rocketing, while freight rates remain low.

Since deregulation, the transportation business has become over saturated with trucking companies, and O/O's. Lots of competition for freight.

This country has been in a horrible economic downturn since 2008. Freight has slowed down in these bad times.

Nothing on these trucks is cheap. Fuel, insurance, maintenance costs are sky high.

All that being said, the odds of an independent making it aren't very good. Nothing is impossible,and there are still some O/O's making a living. Most admit after all expenses, they are no better off than a company driver.

Talk to some O/O's face to face that are actually doing this for a living. Don't rely on the advice of these internet forums, where there is so much misinformation.
There are people posting a lot of unrealistic numbers on income. Try to find someone willing to show you their records on operating costs, annual income, etc.

Also remember these trucks have huge depreciations. They are not good investments.

 

Hi,
My husband and I have just bought a truck and decided to lease a flatbed trailor through CRST Malone. The best advise I can give is the same as someone mentioned before... buy your truck outright. We bought ours with our tax refund and its payed in full. With buying a used truck, you should still have some money in the bank to do repairs. We did not run into alot of major issues, but the smallest repair on a tractor truck is very expensive. An oil change could cost near $300 not including the oil. The hardest problem we are having now is finding a driver. Your husband would not have this problem because of course, he is driving. But CRST Moline pays $2 a mile and has no forced dipatch. So check it out. Ask for Dustin Noels and tell him Mrs. Horne sent you. You must have all your forms (i.e. form 2290 and EIN number with the IRS). I hope all works out. Good Luck.