Please help me understand!!!

Discussion in 'Ask An Owner Operator' started by S.V.Buyck, Feb 17, 2015.

  1. S.V.Buyck

    S.V.Buyck Light Load Member

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    I hope I don't offend anyone but I had some general questions about O/O. I read a lot of threads here and just want to know a roundabout number on income. Yes I just started driving and I was just wondering why be an O/O for company wages. Is it just to be your own boss? It seems like you guys have way more stress being O/O. I know someone who started driving a couple of years ago and have their own truck but I know he's making company wages. I've been on both sides of law and I have figured out why have so much risk for small reward? I am pretty business minded but imho I wouldn't start a business if I didn't plan on making 6 figuresa nd I'm not talking gross because I see that you guys will make 140000 but 50000 of that is gas then you got fees insurance etc. So I need someone to help me see the light. No I don't plan on starting a trucking company with limited experience. I would at least need 3 to 5 years learning the ropes, dos and dont s etc and would hope to find good mentor. So why do it.:banghead::banghead:
     
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  3. TankerP

    TankerP Road Train Member

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    Do you know how some people get suckered into multilevel marketing? It's kinda like that.
     
  4. S.V.Buyck

    S.V.Buyck Light Load Member

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    Multilevel marketing?? Explain please
     
  5. TankerP

    TankerP Road Train Member

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    You buy into a program hoping to get rich (or successful) in the process. Someone up the food chain usually gets a cut off of what little money you make but you are somewhat content because of the perception that you are your own boss. You are motivated by the fantasy that was sold to you that the harder you work the more you'll make. In the end you will burn out and end up with a big pile of debt.
     
    Lite bug Thanks this.
  6. xsetra

    xsetra Road Train Member

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    You can profit 6 figures. Most likely not your first few years. Just like other careers you need to learn. What, where, when and how. No easy tricks, no shortcuts, just hard knocks and hard work. Good luck.
     
    mrbmg Thanks this.
  7. Chinatown

    Chinatown Road Train Member

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    Study the OOIDA.com website for the business end of being an 0/0.
     
  8. double yellow

    double yellow Road Train Member

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    If you don't love it, don't do it. As has been said of poker, being an owner operator "is the hardest way to make an easy living."
     
  9. dannythetrucker

    dannythetrucker Road Train Member

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    well you don't make wages, that's the first thing to understand. And that may be pretty difficult if you don't have business experience and are used to a paycheck to paycheck lifestyle. your bank account can fluctuate by 30,000 either way fairly regularly depending on payment terms, etc... and when it goes up 30,000 doesn't necessarily mean you are doing well. And when it goes down by 30,000, well that's probably not good, but it could be some expected manageable repairs and moving to some slower paying customers or something. Doesn't necessarily mean bad.

    I agree with you though, if you aren't making 150% what you could driving someone elses truck it may not be for you.
     
    Lite bug Thanks this.
  10. tommymonza

    tommymonza Road Train Member

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    The biggest thing that attracts me to being a o/O trucker is the time off you can earn by working hard when you want to.

    This kind of schedule works for me. I don't need or desire a 6 figure income but I do desire lengthy periods of time off.

    I have worked in a similar situation as trucking but in the tourist industry before , where you worked balls to the walls for 3 months 24/7 and than lay low for 3 months and enjoy the fruits of your efforts.

    if things start getting a little tight , Fuel up the truck get on the loadboard and go make some money.
     
  11. Hurst

    Hurst Registered Member

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    Its a double edged sword. You have all the status and control as an O/O. The reality is that economically you are not much better off then as a company driver. Except now you have the stress of all the responsibility and added expenses that come with being an O/O. Grass is always greener from the other side sort of thing.

    I grossed almost 4x as much as I made as a company driver. I have cash in the bank. But for me I set aside money I need to survive and pay bills. The rest gets split up for expenses, things I want (Future goals) and things I need. This was my first year as an O/O. Future expansion and goals will require more money to be set aside to make those things happen. It means less for me personally now in order to have more later down the road. For me its just business. If you dont have the right mindset you wont survive.

    Self discipline, a strong work ethic, and staying focused will help greatly. Its not any easier thats for sure.

    Hurst
     
    "semi" retired Thanks this.
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