Well, I finally have my year of experience an in the process of seeing if it's possible, more like profitable, to become a day cab o/o in the city of Chicago. I've been reading threads for hours all weekend and frankly it's a bit overwhelming. There does, however, seems to be a lack of information on being an day cab o/o. I'm hoping that it's not because it's inherently a bad business decision.
I guess I'll start with the general questions and hopefully as the thread progresses we can get into the micro issues of being a day cab owner op.
I have 10k in the bank and no debt what so ever. I'm currently living at home and my expenses are minimal. I've quit my job at Swift which in hindsight was a little premature. I should have waited because now I think it's going to be really hard to finance a truck. Im looking at something around 15-20k which there seems to be plenty of. Whether theyre lemons or not is just another check box on what seems to be an endless list. Im not looking to get my authority just yet. I'd like to buy the truck and then lease on with a company. I feel this will make things a little bit more manageable and would give me a better chance of success. Not looking at flat-bed as i have no experience and not something I would be interested in. I'm also looking to have somewhat of a stable work week. I dont mind working my 14 hours a day but the weekends are mine.
I just need someone to steer me towards the right company so i can begin doing more in-dept research. Once I've figured out my expenses and see what I can gross I should have a good better idea if I can make this work. Tomorrow I'm going to the ryder dealership in Bolingbrook to see what it cost to finance a truck.
I know I'm all over the place but I'm really tired and restless all at the same time. I know every day I'm not in a truck is another gap in my employment history I have to account for if I decided to stick with being a company driver;quit Friday btw.
So can I make this work, or should I just start applying to LTLs?
If things go bad I can always go back to swift pay of the truck and take my loses.
O/O Day Cab in Chicago.
Discussion in 'Ask An Owner Operator' started by rahtek, Aug 18, 2014.
Page 1 of 2
-
-
Trucking Jobs in 30 seconds
Every month 400 people find a job with the help of TruckersReport.
-
.......
Did I go off on rant, or is it really as simple as expenses minus revenue? -
I can't imagine it being very easy securing enough local freight for it to be worth it for you. You would likely make more money and have more free time working some local ltl gig. Also you will have the expense of parking it, insuring it, and the headaches of when it breaks down, aside from regular maintenance ... The question you should be trying to answer is; how much can you make doing the work you desire as a company driver? and, What amount of money would I want to have in excess of being a company driver, in exchange for added responsibility/liability? and, How do I secure a bigger take home pay by going the o/o road?
rahtek Thanks this. -
You need a business plan, me i am company driver not 0/0. Plenty of large manufact/ printing co. Find some large ones see if they ll give u some local work and whatvthey pay, . You have one year exp. Whats insurance cost , they still going charge u newbie rate. Cost of truck per month?
Figure out all your expenses ,maintence, then how much u want to make/need to make.
Now how many shipmentsdo u need to cover all that.
As owner op u want to make a profit.
Whats it going to take? That u got to plan for.
Check into intermodel too, no idea from me if profitable.
Also i just read a post here recently regarding used trucks and to stay away from the ryders etc.. and look for a good owner op whos getting out.
Thats my rant. Good luckrahtek Thanks this. -
Leasing on with a company might get you some work as a shag runner getting the freight down to the terminal for other drivers, but unless you're paid by the hour, I don't see it being profitable sitting in traffic all day.
You're about $20k shy of where I would even consider attempting what you're after.rahtek Thanks this. -
If things don't pan out, I wouldn't mind working for any of the ltls around here. I would like to make around 60k take home gross but know, like everything else, that you have to start from the bottom.
I'm also starting to realize why I don't see any day cab o/o. With the sleeper you're able to chase the freight if local work dries out. Being able to do regional loads if need be is a better perk than being able to maneuver in tight spaces.
I can see why people would say to stay away from ryder. I walked in there and asked for a list of their available trucks. None of the trucks i've seen on the internet were there. She then proceeds to cross out a couple trucks stating the motors had just blown. That doesn't really inspire confidence or is something someone wants to here as a potential buyer.
I walked around and found so many little things wrong in a basic pre-trip that I was a really turned off. If they didn't bother to check, or fix, the small stuff how can I trust them with the motor and trans.
Looking through truck paper right now. -
Edit: Forgot to quote you baroll
This is the part I'm hoping you guys can help me with.
I need good company names so that I can start calling and getting an idea of what I can gross.
Being in Chicago, intermodal o/o is definitely a route that's available to me; plenty of adds on cl. Wouldn't want to go that route but if there's money to be made, it can a start.Last edited: Aug 19, 2014
-
-
Around the Gary ind steel mills you see day cabs running into Chicago. No idea on the rates. If you have 10 g after buying the truck plus the plates etc. It should be ok. A line of credit in case something bad happens would be a neccesity imo. I wouldn't want much more than a 1000 a month truck payment.
rahtek Thanks this. -
Now I have to go and find a good intermodal company that both o/o and company drivers.
Trucking Jobs in 30 seconds
Every month 400 people find a job with the help of TruckersReport.
Page 1 of 2