Kicking around the idea of getting my own truck in the Spring of 2014

If your happy and comfy with your present company truck ( seems that you know a lot of its history ) and can get it at a decent price go for it .

 

I have a number of trucks more than 6 less than 12 and I grossed.. 1.6 mil last year.. and showed a loss.....and didn't have to massage the numbers much to do it.. My friends think I am rich.. but yet I qualify for subsidies on obamacare.. You do that math..

By the time you pay for repairs, maintenance, taxes, fuel and your drivers wage.. You won't have ANYTHING left...

I thought like you did along time ago when I was younger and more innocent.. (and stupid).. an older driver sat me down when I made the exact same comment you did (it was my dad and this is the best advice I can give you)

Math doesn't lie... it will always be correct.. The paper it is written on however will tear apart..

The point of that is this.. The truck is a business that you own.. The truck has needs and it will ALWAYS reclaim the money you believe you have.. In other words you are working to maintain and pay for that truck and it doesn't matter if you by a 90 model pete or a 2014 freightliner.. It will come get your money...

And before you say warranty... just imagine you walk into Detroit with a problem... ####y because you have a warranty.. You make your demands.. they say ok whatever.. then come back and say well..... You did such and such wrong.. so the warranty doesn't cover this.. or that... blah blah blah.. Now you are out of work for a day or 15 with no income and you have to pay the bill to get out of the shop...

I know you are new to this and know more than the rest of us because someone told you how it is.. but please listen.. and think this through before you do it.. You can make a good living as an owner operator... you can also lose your butt pretty fast..

Now here are my suggestions if you do it..

Create you a weekly report form.. That has pro-numbers beginning mileage, ending mileage.. Fuel date gallons and cost... a place for advance.. and all parts, and supplies bought.. At the end of every week not when you get to it but every week.....Sit down and reconcile this against your settlements... Total up your fuel.. Total up your parts and repairs.. and mileage..

Then every quarter... go ahead and close it out by doing the exact same thing.. Just take every weekly report and total... all 3 of those.. into 3 numbers.. total fuel... Total repairs/supplies... and total miles.. make a cover sheet for each quarter. With quarter start and end date.. Total fuel ... Total repairs .. and total miles..... Then at the end of the year (tax time) you just add 4 pages together... have it broke down.. and take it to your cpa.. and you are done.. I laugh at guys every year that are worried about getting their tax info together when it can be done... with 1 truck in about 3 minutes a week.... Yet they spend days getting it together at the end of the year.. It takes me 20 minutes a week... and 5 minutes on January 1 to get it together.... Takes me longer to fax it to my cpa...


I forgot insurance and disability insurance... workmans comp.. you need to figure all of that in too...

 

I'm really tired of people saying there's no money in trucking, still they got years and years in it and not quiting. I am willing to compare settlements with anybody. And repair bills.
If you can't spec the equipment or make business decisions wrong thats on you. Not on the industry.
Btw.. whether you operate 2-3 or 1000 trucks; if you expect each truck to give you over $700 net per week you need to really redo your numbers or change accountant..I was born in trucking, I have done from dispatch to broker to maintenance to driving now for the past 11 years. My family owns 20 trucks but we do not work together and I'm still in trucking and just bought a 2008 kw with the sorry ##### boat anchor CAT every one cries about
So you scare people away from trying to succeed in life 'cause you cant make it. Great, thats why this industry sucks so much..
I've done $56k gross and $23k take home in 3 months in 15 trips.. questions?

 

There is $ to be made as long as your willing to work at it , too many jump in with no CLUE of whats involved then go broke trying to impress others .

 

Ooooh....Financed chrome, I like it!!!! great wording!!!!

That goes for everything, the less the bank owns of your life, home, cars etc... the better off you will be

 

You cant go by living in fear.. one's gotta believe in himself and his ability to overcome any adversities @ work and life. A business requires risk and compromise, whether it's your money or the bank's you still have to insure that chrome or rusted #### truck you get.. or what you guys don't buy insurance either? I can't help but wonder how many of that kind of thinking o/o's only pay for liability instead of full coverage while driving their business

 

so you ready to be an o/o huh...well im going to tell the real scoop...raw and uncut...its the best...but worse decision you can make in life. ...it really depends on you first then the company. ..u can easly gross 175k plus a year...but if your one of those drivers that a never cut the truck off and run 75 or 80 mph everywhere you go then you will fail...you have to step outside the truck and be more then just a driver...u have to be a tax man, tire man'fuel man, insurance man and etc...alot of o/o are way to technical with it though...if u make 3k a week u are actually not if u include truck note and insurance and all that...but at the same token take your house not out your check as a company driver and tell me how much u making....Go for it follow your dreams...if u fail then oh well go back to company stack your money bsck up get another truck and try it a different way

 

You didn't.. Most believe they do though.. Not an insult to you.. Most people don't take advice well I know I didn't... and I am not trying to discourage you.. I make a good living.. I wouldn't do it if I didn't... It isn't easy.. You will get what you put into it..

 

I am about to cut a truck back tomorrow.. I have a driver and .. He drives against the governor all the time.. 75 mph.. and gets 5.5 mpg.. I drove his truck last night on a 600 mile run, ran 66 mph.. and got 6.9 mpg out of it.. I have other trucks... 3 of which are wide ### open.. and the drivers never run over 70 mph.. very responsible.... then this guy has a lead foot.. it is a business decision.. as a business owner I have to make it... and as a driver he gets to make his decision.. either drive it or don't.. but I can't pay for him to hot rod down the road.... and he will be rolling 66 mph...and getting better mpg..