I am thinking to become owner operator for local work

Do you know what your income will be ??? How about expenses???


0-1 Year of experience.................. I'm sorry but hope I'm wrong but you'll never make it unless your folks own the company.

 

Not looking to be an arse but if what your looking for is out there it would be scooped up already a long ago.

 

Just a thought - why not hook up with A company that you can drive for as a company driver, then buy the truck you've been driving thru them and become a broker with them ? There are pro's and con's with that idea. I'm sure they're ALL about to be listed !

 

Lots of cheap operators locally in Toronto ... A few different local cartage companies we used to deal gave up fighting and closed doors ... It's a pretty tight market doing general freight over there is what I hear,, good luck

 

Insurance dictates who a carrier may hire.

Company with less trucks, if they have even minor claims the insurance company doesn't want to deal with them. Hence more experience required. Either that or the insurance company says "yes you can hire that new driver, for a price of $50,000 per year". Not feasible.

Company with hundreds, thousands of trucks. The insurance company wants this business. They get a break on rates per truck because of so many units and in return they are allowed to have a range of drivers, some with zero experience and others with many years of experience. They look at the "average experience" of the drivers and come up with rates from that.

Then you have the HUUUUUGE company which can actually be self-insured. They now are their own insurance company ... if one of their drivers screws up and they get sued for $10 million and lose, then they have to cough up out of their own pocket.

 

I'm surprised you got on with a company with 8 trucks. The fewer the trucks the bigger the premium to insure a driver with limited experience.

It depends who holds the insurance policy, and that is almost always the company you are working for. I'm not sure if this is allowed, but maybe you have several small companies all under one umbrella corporation and have a big deal with an insurance company ... I don't know if that is legit but I am thinking of the example of say TransX, CoolX, DeckX, all those companies, or even Bison, Glenncoe, etc. Then you have the Transforce companies, you know the ones that all have the same font in blue letters with that red stripe over the name? All the same company just different names ... Not sure how their insurance works ...