Hey everyone. So I am new here and about to change careers to become a truck driver. I am about to start school and I have to work for the company for 2 years unless I buy out the contract for $5250. Eventually I want to own my own truck and haul someone else's trailers and cargo. Box trailer only. Are there companies out there who do this plus pay most expenses like IFTA workers comp etc.? Thanks in advance.
There ARE sure but trust me when i say dont just jump into being an O/O get at least 5 or 6 years under your belt first. There is a LOT more to being an owner op then you see on the surface. And there is also a reason 9 out of 10 O/Os fail their first year and 70% of the rest fail the second year.
I have owned a business for 22 years before so I know a little about business just not much about the trucking industry. My brother in-law is a O/O. So I have some help
Still wait several years my friend. This industry is not at all kind to startups. Seen many other drivers who were even more prepared and still lost their shirt. Its not just stuff like fuel×costs=pay per mile. Its stuff like learning routes, how to dodge scales in a pinch for any number of reasons, how to bypass cheat fix or patch dozens of issues to limp a truck, quirks with diffrent types of trucks, making sure this is something you can tolerate, getting a network of shops, companys and so on you can fall back on, learning what diffrent types of trucks can and cant get away with and so so SO much more. Standard business tactics and knowledge helps with stuff like laws, taxes payrole ect. But that stuff is the easy part.
Firstly you should find another company that doesn't require two years service for the half assed training they are going to give you. What company are you going with because there are a few megas you need to avoid at all costs like CREngland and Western Express.
In most states you don’t need workman’s comp if your are sole proprietor. Many companies will let you run on their plates and IFTA. They will take out IFTA if you owe out of a settlement or reimburse if you have money coming. Most companies will charge for the plates monthly and the year after reimburse or charge a little more depending on mileage.
For all other expenses it’s really on you, otherwise why would you want to be a o/o If you can’t handle your business .
Get some experience first. Nothing more interesting then watching a O/O ripping off someone hood and having less then a year.
A successful businessman who, rather than pay out of pocket for school, is considering a deal with a company to probably earn much less over the course of 2 years than the $5250 cost to buy the deal out? Also - what everyone else said, trucking isn't an industry you can just start and master without experience. Sure, it has been done, but generally, is a losing proposition. It is an industry where customers are often driven primarily by price, and drivers are ready to quit for the next company offering a couple pennies per mile more, all the while your equipment sits idle still with payments and insurance payments coming due. Don't forget brokers who sell a few million in freight bills then disappear like a fart in the wind. Still sound like fun?
