Since being on this forum 2008 or something there is always someone starting up a new company. They always say they are leasing in the beginning, then getting their own authority, then from there they are going to get more trucks. Or they start with they are getting their own authority, gonna run the load boards for awhile and then buy more trucks. At least 3-5 times a week there is some form or variation of this sequence, I wonder how they are making out? I've run the company for close to 40 yrs. and there has always been times where it's very hard. Just wanted to see if there are people on here that have become a company owner within the past 5 years and are they doing well or did they have to fold up?
the stats are not in anyone's favor, I think like 50-60% of all new trucking companies fail within the first 5 years.
Wonder how far newbies have made it?
Discussion in 'Ask An Owner Operator' started by Largecar359, Nov 8, 2014.
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Its a tough business environment.
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I'd think 50-60% is low.
i got a cdl at 21, drove local class b Til 23. Got class a drove interstate/local daycab Til 26. Bought truck leased to carrier Til 29. Own authority last year. Been ups and downs during all those experiences. Life is better now financially, emotionally, mentally than ever before. (Physically I'm feeling older all the time :/ )
i always felt felt as an employee that things could be done more effectively. I never planned to own a truck but taking "the next step" every time it made sense brought me to the point I am at now. I look to the future to see what the next step will be: more trucks(?) drivers (?) O/O's (?) an office full of employees maintaining my business (?) new ventures beyond trucking (?)
i look forward to seeing what opportunities I'll come across in the next years of my life. -
After about 2 yrs of frustration and banging my head against the wall I have seen a major improvement in my operation. Thanks to the help of some of the membera on this site
i have no desire to add trucks or lease o/o. Happy just the way I amLast edited: Nov 8, 2014
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Yeah, it's def a tough industry. So many people place posts on here starting a new business, just wanted to see how many go through with it and see if they are still operating. It's never easy, I think a lot of drivers don't realize how hard it can get.
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It is discomforting to see the amount of "it's easy and I'm going to do it" first few posts and then that poster never comes back to clear up that it isn't easy and whether or not they've been even vaguely successful.
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I really doubt I would have made the same progress with out the help I got.
Even if guys came on here and admitted they failed , it would not be a deterrent for others that either have an entrepreneur spirit or just want to give it a goSheepDog Thanks this. -
Yeah, I dunno I think a lot of them just like the idea of owning a truck. And they like the idea of telling people how they can do it better, but most don't step up. I always have respect for someone who thinks they can do it better, so they go out and try. I have no respect for those who just say they can do it, but don't. Even if I dislike another o/o, I have some respect for them b/c they are trying ya know.
Ruthless Thanks this. -
I'm just interested in it for the idea of running my own show for, hopefully, at least the money I'm making now. No more lazy, backstabbing coworkers, catering to stupid internet shoppers, and breaking my back wrestling garbage freight off of a truck in locations it absolutely does NOT belong.
Yeah, I'm a disgruntled LTL guy. -
I folded after about 1 1/2 years.Rates don't justify investment.Notice I said investment,I actually wrote a check for a truck and trailer.Back in the company truck and will be until I retire.
MJ1657, ShortBusKid, RedForeman and 2 others Thank this.
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