I have $7000.00 and i want to become a owner operator out of ga., what do i do next ?

Discussion in 'Trucker Taxes and Truck Financing' started by STEPCHILD1, Nov 28, 2009.

  1. trickshot

    trickshot Bobtail Member

    24
    5
    Aug 31, 2007
    Ochlocknee, GA
    0
    Not the best time to become an O/O, Been there done that.
    After buying the truck, getting insurance, and finding a place to lease onto: you need about 6 months living expenses in bank to get you through when the the inevitable breakdown occurs. Even if you buy a new one and have a good warranty, there is no income while truck is in shop.

    Put the money in the bank and set it up so you can't get to it in a moment of weakness. At least until this O/O stuff is out of your system.
     
    STEPCHILD1 Thanks this.
  2. Truckers Report Jobs

    Trucking Jobs in 30 seconds

    Every month 400 people find a job with the help of TruckersReport.

  3. markafucci

    markafucci Bobtail Member

    2
    3
    Dec 23, 2009
    memphis,tn
    0
    why is it people are always negative when you ask there opinion. some of the largest carriers in this country were started with almost nothing. get a business consutant before you start any business work hard and you can make it work. if your are gone to buy a truck you might as well get your authority. because the carriers you lease to are gone to stick it to you any way, so i would take a chance with some small direct shippers and brokers you will make more. leasing a truck to a company thats gone take your fuel surcharge and pay you .80 a mile would be foolish but having a goal is nothing to be ashamed of. work hard and dont let people tell you what you cant do just because they failed doesnt me you will.
     
    MT Pockets, Big_Perv93 and trucker43 Thank this.
  4. RickG

    RickG Road Train Member

    12,812
    6,135
    Jul 22, 2008
    Owensboro , KY
    0
    And if he gets his own authority brokers will stick it to him worse than carriers will and he'll wait longer for his money .
    Do you have your own authority ?
     
  5. Bigray

    Bigray Road Train Member

    1,135
    383
    Nov 23, 2007
    Tampa, Florida
    0
    my suggestion would be to use that capitol as your operating / living exp.
    till you get into it and start receiving some payments.

    i would also suggest to keep your exposure minimal, i.e. start by leasing a tractor ONTO a company that your interested in,preferably someone that supplies the plates and ins., fuel card,trailer. then SAVE your income for the next step. "providing their is something left over to SAVE...:biggrin_25525:
     
  6. Bigray

    Bigray Road Train Member

    1,135
    383
    Nov 23, 2007
    Tampa, Florida
    0
    Also i am curious, could you give us your top 3 reasons for wanting to become a trucking operator ?
     
  7. MT Pockets

    MT Pockets Light Load Member

    79
    26
    Dec 31, 2009
    Manteca Ca
    0
    I to am in the same pickle. I have a little bit more for a down on a USED TRUCK. But with the way the industry is right now, I am not afraid to say "I AM PETRIFIED":biggrin_2551:. I have a company that I can take it to, they provide everything. But I have been burnt Before and even though the circumstances are different, I dont see it like that.
    All this Doom and Gloom, it just makes me look and study more harder, makes me ask more questions. For I to have friends that have went belly up, but I also have friends that are making it and buying new trucks! So it makes me want to this this O/O thing even more so!
     
  8. markafucci

    markafucci Bobtail Member

    2
    3
    Dec 23, 2009
    memphis,tn
    0
    he can factor his bills for cash if he is concerned about cash flow. and believe me I would rather take my chance with a broker on rates, there are carriers that you lease to that think you shouild pay them for working for them. look at a lot of the post on this site and read about carriers stilling money from o/o.there are cheats in every business. company drivers are alway being beat. its up to you if you gone put up with it
     
  9. Tommo2

    Tommo2 Bobtail Member

    48
    5
    Apr 2, 2009
    Shelby, MI
    0
    Either o/o or getting your own authority is tough row to hoe now. We're in a shrinking industrial economy and being a newb you'll be a price taker on the margins of a service trade market. Very tough parameters. You need to identify customers before considering your entry level capital requirements, be they $7k or $70k.
     
  10. coastie

    coastie Road Train Member

    HAHAHAHAHA So much gloom and doom it sicking to see such attitudes.

    I started off with $2000.00, and left a company Job making $1000.00 a month to making 1800.00 after fuel a week as an O/O. It called watching your expenses, and having good business mind. There are a lot of factors that needed and the right attitude is a MUST. If you think as many have shown yes you will go down the drain. Look Positive and it can be done. Look, watch and know when to make a move to stay profitable. Know your what you need to make a profit and say no to everything under that level.

    2005 trucks most will lease you on, many will accept a truck as old as 10 years old. Nothing wrong with having an older truck, lower payments is the best way to go.

    To all the gloom and doomers, if it so bad why are you still doing it?
    Stop your crying and look how to improve. Called Running a Business..
     
  11. gilbertbs2000

    gilbertbs2000 Light Load Member

    96
    3
    Nov 9, 2009
    Carrollton, Georgia
    0
    Hey Coastie,

    I have a 1998 Freightliner Century. Will a company let me lease on my tractor? It's payed off so I'd hate to have to trade it in unless it was necessary. Also, what are some good company's to lease onto being a owner-operator?

    Thanks,
    Brian
     
  • Truckers Report Jobs

    Trucking Jobs in 30 seconds

    Every month 400 people find a job with the help of TruckersReport.