Hi everyone
My question is regarding of how much do I have to start minimum considering that I'm by myself I can say I'm homless I live in the truck and when I go back to Florida I rent stay in a motel for the time they do the maintenance
So I have no personal expenses like mortgage or car payment
Considering all this all the money I will make as o/o will be available for maintaining the truck and insurance and taxes and fees
Thank you
how much to start
Discussion in 'Ask An Owner Operator' started by paulpost, Feb 27, 2015.
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Study the OOIDA.com website, plus there's several 0/0's on here that will probably post some good advice, such as "double yellow" & skate-board" & "Hurst" & "RedForeman" & "blairandgretchen" & several others.
Read this thread:
[h=3]Double Yellow's Company Driver to Independent Thread[/h]Last edited: Feb 27, 2015
double yellow Thanks this. -
If you have nothing you should not need much at all. Heck, I figure if I would stop drinking, smoking, and chasing women I would not need a job.randomname, rodknocker, lmcclure1220 and 6 others Thank this. -
As stated above and in other threads, you will need to know your operating expenses. Chinatown mentioned taking OOIDA courses, but you can also learn small business trucking from Writeuptheroad.com. I would suggest taking some small business courses and business management courses online. Your operation will depend on how much you spend on a truck, your insurance, base plate, maintenance, fuel, and paying yourself. Are you going to operate on your own authority or lease to a company? Operating under your own authority will require you to have someone to run a "back office" which keeps all your compliance paperwork up to date. Leasing to a company may require less operating capital because you will use their base plate, insurance and fuel card.
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Thanks for the input and if I'll lease to a company I'll be covered by their insurance I'll go this way and I'll have a smaller startup funds
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OK, first things first .you purchase the truck, your first payment is 30 days later. Then you need insurance, registration, 2290 etc. Then a contract with the carrier you sign on with. Once everything's in place and you can load up and go, you need fuel almost on a daily basis. It will be a few weeks before you see your first paycheck. Now, you can credit card a lot of things if you don't have the $$$$ available. Good luck.
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Hell I blew most of my money on Boats , Broads and Booze and the rest I Wasted -
What kind of insurance do you have to have when leased to a company
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Consider that you will need to establish a legal address (Your tax home) in order to qualify for your per diem deduction ( a big one if you stay out a lot).
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