a question from a noob

Discussion in 'Ask An Owner Operator' started by Lobster49, May 21, 2015.

  1. Lobster49

    Lobster49 Bobtail Member

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    im getting my cdls in january when i turn 21, i plan to save as much money as possible and buy my own truck and trailer and start running my own authority after a few years as a company driver ( dont wanna jump in head first into owner operator when i know absolutely nothing) , is it possible to make enough money running your own truck to be able to expand the business withing the first year or two? ive read online its possible to clear 1200+ a week after all expenses is that true? id appreciate any input. and if it helps i have no one to support but myself and love to travel so being on the road doesnt sound to bad to me. i currently work out on the road 4-7 days at a time and enjoy it.
     
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  3. gokiddogo

    gokiddogo Road Train Member

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    It is possible to make good money as an owner op. Its also possible as a company driver. Lots of owner operators try it and fail because they didn't have a plan before they went and bought the truck and figured they'd be on easy street. It isn't for everyone, gotta have a good business mind and money management skills ... I'd say figure out if you really want to stay in this industry long term, that will take a few years ...
     
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  4. Lobster49

    Lobster49 Bobtail Member

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    thanks for the response gokiddogo, what advice do you have for someone as my self that would like to expand to more than 10+ truck fleet?
     
  5. MrEd

    MrEd Road Train Member

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    Lobster, I'd advise not to expand like that. I know of many owner operators who did great with one truck they ran themselves. But buying trucks and hiring drivers for them is a whole different issue. Good drivers are as hard to find as good companies. I'd just say stay happy and small (1 truck). If you do it right, you wont get rich, but will make a good living.
     
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  6. spyder7723

    spyder7723 Road Train Member

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    Well I will tell you this. If I only cleared 1200 a week after expenses I'd park or sell this truck and get a regular job.
     
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  7. BigBadBill

    BigBadBill Bullishly Optimistic

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    $1200 is company pay range and then you have all the risk... Risk and no reward.

    You can do better. I think the days of running a small fleet have passed. Between equipment and driver costs it gets pretty thin. Little room for error. The way I have seen it done is new equipment with complete lease. But you need the credit and bank roll to support this.
     
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  8. tallmon

    tallmon Medium Load Member

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    I know a few guys that have 5 to 10 trucks each. It's not easy. You have to wear all the hats - mechanic, HR, manager, senior driver, counselor, banker, accountant, etc.

    1) Save your pennies. Learn the business. Keep your credit sparkling.
    2) Strike out on your own as an independent and LLC or S Corp (whatever entity)
    3) Learn more while being independent for a year
    4) Get a 2nd truck and a driver. Always have at least $25k in the bank for emergencies.
    5) Repeat step 4.

    If that's your dream... just do it. Don't listen to the naysayers.
     
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  9. xsetra

    xsetra Road Train Member

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    I agree with tallmon. If that is your goal, Only you will know if you have the tenacity and fortitude to be a fleet operatorl. You'll know 50% of what is needed as an O/O.
    Expanding is more knowledge than physical effort. When you build, remember to keep your foundation strong. That is the where/if you fail.

    Employees are always just that employees. No matter how people talk. The only person that will take care of the business is you. If you don't know where your money is, consider it gone. ie fuel, repairs , road expense, taxes,.....
    When you expand expect to drive less and be more a manager than a driver. With that you have to understand you personally will be earning less on the road.
    It is a hard transition to make if you enjoy driving.
    Good luck.
     
  10. TripleSix

    TripleSix God of Roads

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    10 trucks. That means you will need 2 top drivers and 5 drivers that can show up on time. And you will need a dedicated mechanic who works solely on your trucks. I said mechanics, not a parts changer. You will be tha parts changer.

    To get two solid drivers and a real mechanic, you're going to have to dig deep in your pockets, because they will know that they can fetch a premium anywhere they go. The good thing about them is that they're ALWAYS productive. And you won't have to hold their hands.

    How do you find such an individual ? That's easy...on the job. They won't be looking for work, and they will be satisfied at their current employer. Talent doesn't come cheap. And if you want any chance to keep your fleet afloat, you're going to have to have talent. Otherwise, your company will just drift into oblivion.

    See this is the thing that escapes the mega carrier Beancounter. They want to run thousands of trucks, with steeringwheel holders and pay them peanuts, have high turnover, accidents every day, and a crew of planners to do the loads and DMs to hold dumb driver hands. They can see profit from the sheer number of truck. If you, howver try to run a small fleet the same way, you will go bust in a month. So what do you do? How do you start?

    You are going to have to be THAT driver...the guy you want in your truck. That good, solid, completely dependable top of the line, set him loose and watch him work driver. Lead by example. That guy that started that mega...he was a good driver. That's the primary reason his business flourished. His drivers he started with all respected him because he didn't have a driver do anything that he himself wouldn't do.
     
  11. thelushlarry

    thelushlarry Road Train Member

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    Do not put the cart before the horse!
     
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