Becoming an o/o

Discussion in 'Ask An Owner Operator' started by Torin, Jun 7, 2020.

  1. TruckerPete1990

    TruckerPete1990 Road Train Member

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    Chance of making 75K first year isn't that high. Most don't turn profit till 2-3 years after they buy the first truck.
     
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  3. bad-luck

    bad-luck Road Train Member

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    I have been driving for 32 years, have been an O/O for 10. Not trying to insult you TrucerPete but I can only assume you are a company driver, with your statement. Think about it, if you didn't make a profic for 2-3 years you would be bankrupt.... Generally it takes a few years to get to know what your doing. (How to make the most $$) I personally don't think a lease purchase is a good idea. I would be happy to explain if you like
     
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  4. Farmerbob1

    Farmerbob1 Road Train Member

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    I suppose it depends on how you define profit.

    If the owner of one truck considers themself to be an employee and pays himself or herself an employee's wages, then the company, the total expenses, can be negative for the truck/company while the owner/driver still makes a solid takehome wage.
     
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  5. D.Tibbitt

    D.Tibbitt Road Train Member

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    I done 25k a year every year since i been out here. Single , no bills other than road expenses... 40k is definatly possible if ur frugal
     
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  6. D.Tibbitt

    D.Tibbitt Road Train Member

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    It is more freedom when ur not a company driver... but a hell of a lot more responsibility as well.. Thats the other side of the coin that never seems to be mentioned.
     
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  7. Wasted Thyme

    Wasted Thyme Road Train Member

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    Just so you know what will keep me warm in my bunk. lol
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  8. bad-luck

    bad-luck Road Train Member

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    That could be possible, but only for a short time, as there would be no funds for maintenance and repairs.
     
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  9. RichTrucker2020

    RichTrucker2020 Light Load Member

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    Yes get with a good company and very doable. I put in my savings $850ish a week. That's even after a 25% 401k putaway. But you have to be very frugal by nature. I love love saving money. I get anxiety when I have to spend
     
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  10. Torin

    Torin Bobtail Member

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    Yeah like I said I only have 15k in cash most of the rest went to my 401k. My family has made sure that I save properly for my 401k.
     
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  11. Torin

    Torin Bobtail Member

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    The goal is to quit driving, but if I'm supposedly only going to make $60k a year, where does the money come from to buy multiple trucks?
     
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