Considering going O/O NE Ohio

**crb** · 07.28.2012

Okay so I'm contemplating going O/O and I live in NE Ohio. I know there is a ton of freight especially flatbed freight in my area. I have zero flatbed experience, although I don't see thatas a problem as I have common sense and learn quickly. I know we have freight, but I don't have a clue what it is paying.

About my situation, I currently drive team with my wife. We make excellent money! Very excellent! We are planning to start a family next year. So I won't be teaming anymore. I've always been a company driver 5.5 years safe driver. I enjoy the security of being a company man. I have been talking myself out of buying a truck for 5 years. My concern I want good hometimr and still make good money. I would like to be home 2 days a week on average. No more than 10-14 days out. The least I would want to net is $50k. East coast including NYC doesn't bother me. I'm third generationtruck driver. I am LCV (long combination vehicle) certifiable so one option I was considering is looking for a company that hires O/O pulling steel coils across the pike. I live close to tge Ohio turnpike.

Financially I think I should be fine as I will only have a house payment hopefully, or close to it.

The companies just seem to-be getting silly because of insurance companies IE: using third eye cars that cut you off for safety. That is a whole other thread.

Is the risk worth the reward?

Any info you can share to help would be very much appreciated.

**Scooter Jones** · 07.28.2012

Well, see if you can find 5 owner ops and ask them if they'd mind showing you their Schedule C for the past couple of years.

If they show a net of 50k after expenses and taxes, can demonstrate that they have health/dental insurance, a SEP IRA equal to 10% of their net, at least $10,000 in a maintenance emergency fund for the truck, then you might be ready to jump in with both feet.

Until then...

**crb** · 07.28.2012

I don't run into many O/O's doing what I do.

Every O/O will be different I know this, depends on how they run their business. How well they manage costs. Fuel mpg. Rates. Truck/trailer payment/cost. Truck/trailer specs. Tire rolling resistance. Speed. How well they maintain the equipment. And so many other factors.

Are you saying $50k net is unreasonable?

Oh and I'm NO where near ready to jump in with both feet! I am considering possibly late next year. Doing research now, and trying to get info and opinions.

**bigdad7** · 07.28.2012

i think 50 k is reasonable but your expectations must be realistic .....i would recomend paying cash for your first truck something preegr maybe 01 to 03 are you planning on getting your own authority or leasing on ...i started with a paid off century got it for 8000 when they closed the ports def killed 50 k and took a lot of time off with your timeline i would watch for those pre egr trucks to flood the market out of california next year might be a great time to get in ...you might also might consider working as a company driver for a year for a carrier that hauls o/d or flats just to get your experience on their dime and learn freight lanes in your area a little better

**Scooter Jones** · 07.29.2012

Originally Posted by crb

I don't run into many O/O's doing what I do.

Every O/O will be different I know this, depends on how they run their business. How well they manage costs. Fuel mpg. Rates. Truck/trailer payment/cost. Truck/trailer specs. Tire rolling resistance. Speed. How well they maintain the equipment. And so many other factors.

Are you saying $50k net is unreasonable?

Oh and I'm NO where near ready to jump in with both feet! I am considering possibly late next year. Doing research now, and trying to get info and opinions.

Every O/O I meet always tell me how much money they are making. When I start probing a little and asking questions about how much money they have in their maintenance fund, do they have health ins, a retirement fund, etc., the answer is always uniformly no!

My experience as a self-employed contractor for 30 is that oftentimes you just end up providing a job for yourself being self-employed, yet, assume all the liability, risk and headaches that go with it.