Owner operator in the Chicago land area

Discussion in 'Ask An Owner Operator' started by Joews, Mar 31, 2015.

  1. Joews

    Joews Light Load Member

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    Alright so I'm not an owner op quite yet, but I'm seriously considering it depending on a few factors.

    I'm currently working for an ltl company out of Chicago pulling doubles at night, so I already have all the endorsements besides TWIC.

    I'm thinking running with a reefer trailer would be best because you can haul dry, refrigerated, it haz in it.

    My question to you owner ops is:

    1) How do loads pay coming in and out of Chicago?

    2) What would be a good truck to start with?

    3) Is running reefer a top priority to make money as an owner op?

    4) Would it be worth it money wise to leave my 75,000 dollar a year job to do this?


    Thanks, I appreciate any and all feedback.
     
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  3. Clasix1055

    Clasix1055 Even when I'm wrong I'm right

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    1. Crappy

    2. One that will stay out of the shop

    3. No

    4. No
     
  4. Hurst

    Hurst Registered Member

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    Not sure about reefer/van but lots of flat bed loads out of Chicagoland. Never worry greatly about the rate coming in.. as I always knew I would be paid well coming out. It one of the few places I know of that I have good luck in.

    Have to agree... best truck will be one thats stays rolling. There is no single formula. All have their pros and cons. Need to know how much weight you will be pulling, what region you plan to run, what speed you will run at and then find a truck that meets those specs.

    Personally reefer is more of a pita to me. Almost impossible to keep a multi stop schedule with out being late somewhere. Been places that charged $200 plus lumper fee if you came in late. Some places wont allow you to be on the dock to make sure your loaded how you want. Engine for reefer is another thing to break down.

    Only you can answer last question. If you think being O/O will allow you to be home more, or give you more free time. Yes and no. 50% of my home time is spent getting the truck ready to go back out on the road. There really is no down time for O/O.. you work that much harder and have less time for other things. There is no punching the clock on and off duty. You are always on duty. Personally if your satisfied where you are.. and making $75k.. I would stay where you are. The grass isnt always greener. They only way I would recommend going O/O is if you have cash to buy your truck and trailer from the get go. If you plan to take out a loan.. then I dont think the stress will be worth it.

    Simply buying and owning a truck will not make you money by themselves. You need to create a business plan first. What segment do you want to get into? Who's paying you to haul their loads? Operating expenses, new truck? Used truck? Are you mechanically inclined? Where will you park it? So much more to figure out before getting started. Once you have a solid income plan.. then and only then do you by the truck and trailer to get the job done for who will be paying you. Buying a truck and then trying to find work for it after the fact doesnt always work out for the best.

    Hurst
     
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  5. thelushlarry

    thelushlarry Road Train Member

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    This is correct answer to all questions.
     
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  6. Joews

    Joews Light Load Member

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    Care to give more details? I feel as though there's a lot of money in the trucking industry, and I know I'm gonna sound greedy but I want to do better. As I said, I'm doing pretty good and I'm content where I'm at, but just exploring my options.
     
  7. Ruthless

    Ruthless Road Train Member

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    Well, in my opinion you have less than 1% chance of making half of what you do now for the first couple years on your own with the lack of knowledge you have. Based solely on the questions you asked: becoming an owner operator won't be a successful game plan for you at this time.
     
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  8. Joews

    Joews Light Load Member

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    Your input is very appreciated, what type of things should I be researching/asking so I am fully informed? Knowledge is power!
     
  9. Clasix1055

    Clasix1055 Even when I'm wrong I'm right

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    Read the docked post and talk to people too much to type
     
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  10. Jerry12

    Jerry12 Heavy Load Member

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    75K per year (or 68K), savings per year, then 10 years...? ask your self where will you be at 10 years? (ur call)
     
  11. Cranky Yankee

    Cranky Yankee Cranky old ######

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    for every O/O making good money there are 10 times that many back driving company trucks
    for less then the company job they left
    one guy i know has bought 3 trucks and sold all 3 to the guy he was leasing onto
    maybe he will get it right on number 4
     
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