Female Financial Analyst turned O/O?

Discussion in 'Ask An Owner Operator' started by kris20, Mar 22, 2019.

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  1. 201

    201 Road Train Member

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    I don't mean to be rude, but what part of "don't do it" don't you understand. You're gumption will do you credit, but this is probably the worst time in history to begin a new venture, like trucking. It's a cut throat, back stabbing business, and is so affected by the economy, one hiccup in the Middle East, fuel goes to $5 bucks a gallon ( and don't say it can't happen) and you are doing it for a negative .20 cents/mile, and with a payment, you can't afford to stop. Repairs, even on newer trucks will kill ya'. Insurance, huge cost today, and you can't be without it. One mishap, and you're screwed, and G-d forbid if you happen to kill someone, the way these people drive distracted today. Really, go into classic cars, or something, but the heyday of O/O's is over, unless you have some family account you've had for 20 years, and even THAT'S no guarantee. You seem like a smart person, this would be a not so smart thing to do.
     
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  3. d o g

    d o g Trucker Forum STAFF Staff Member

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    Let's merge these threads so that we can keep this discussion all together in one place.
     
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  4. kris20

    kris20 Light Load Member

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    The thing is I won’t drive. I will need a driver. I had found one but he was married and tried me. I’m nice but I’m not for the bs.
     
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  5. TallJoe

    TallJoe Road Train Member

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    Many say no because now the times are not too good and rates are low - due to huge capacity increase - too many people are buying trucks hoping to find success. It also means more competition.

    Newcomers indeed are disrupting the freight market by yet more increasing the truck supply and often agreeing to lower rates. They often assume that the freight will be easy to find and that all of it can be found on Internet load boards - without realizing that the freight there is only scraps and off of these scraps they make a living (myself included).
    They often, due to the lack of experience and being underfunded, fail after a year or two - often their equipment is repossessed by the bank. Their inexperience highly correlates with higher liabilities - they are more prone to accidents and cargo claims - disrupting insurance rates.

    Most of folks here, with some more established status, would want the access to this business be very limited and difficult to obtain. They would like to have it reserved for themselves and their fleets and and not to share it. They would want this trade to have a more distinguished status, so that it is not easy for a guy from a street with 10K in his pocket and FICO of 700 go buy a truck and then the next day be on "equal terms" with them.
     
    Last edited: Mar 23, 2019
  6. mp4694330

    mp4694330 Road Train Member

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    Do You have any connection to direct customers or You will relay on brokers and loadboards?
     
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  7. Humblepie

    Humblepie Pontificator

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    Do you have freight? How do you plan on keeping the truck loaded?
     
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  8. kris20

    kris20 Light Load Member

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    Now this is a compelling response! Thank you!
     
  9. kris20

    kris20 Light Load Member

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    Direct connection. I have everything established but the driver and truck. Trying to find a driver before purchasing the truck. Tough but I don’t want my truck sitting for months. Have about $130k to invest.
     
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  10. Ridgeline

    Ridgeline Road Train Member

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    Again why?

    Just because you have money, doesn't mean you should. I have money to buy brand new Rolls-Royce for each of my kids and each of my cats but I am not investing in them because it makes no sense.

    You are looking at the wrong things, trucks and differences have nothing to do with the success or failure of the business.

    The same goes with maintaince, this isn't important on the busienss end as much as some make it out as.

    What is the niche, how to handle the workflow, the management of the drivers and so on.

    Drivers are the hardest part of the equation and it takes managment skills to keep on top of the drivers.

    Profit?

    Most of the successful fleets are running under 15% with most averaging 11%.

    If you want to learn get a job in the industry, driving is s good start.
     
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  11. Humblepie

    Humblepie Pontificator

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    Very good post
     
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