Hello all. Thank you for taking the time to read my post and any info or advice you can spare is greatly appreciated. Let's begin. I'm 26 and I've started a new job as a diesel tech 3 at a reputable company and so far I'm loving my job so changing careers isn't what I want to do. But I do know that I'll never save up the capital to start my own business where I'm at. So what I'd like to do IF possible is if I can change my schedule to work 4 10hr shifts I could rent a truck to run under my own authority on the days I don't work. I know there's alot of variables that are in play and ill be honest I don't know them all. I'm not trying to get rich by all means but If i can see profit after paying my dues to the rental company and insurance along with evrything else then it would seem worth it to me in the long run. After some time assuming all is well I can approach a bank showing my competence for a business loan. My future business is related to diesel mechanics such as truck service shop.
TLDR : working full time wondering if possible to run authority via rental truck on the side for capital and credit for future business endeavors. Thank you all. Sorry for my ignorance.
Big dreams with little knowledge.
Discussion in 'Ask An Owner Operator' started by Usernameicanremember, Jan 9, 2022.
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Not gonna work as the cost for insurance and equipment is to high. You really need to run at least 5 days a week or very close to it.
But if you can do some side jobs fixing trucks and such on time off that would work. You could make some decent money doing that if you have the tools.TallJoe, bumper Jack, Rideandrepair and 7 others Thank this. -
You can do it but it will be painful and unprofitable. Expenses don't pro-rate. With your own authority you'll need your own insurance. As a rookie with no experience that'll be more than $400/wk. Not clear on what you mean by, "rent a truck". Are you planning on just walking into Penske/Ryder and renting a truck for 3 days every week? There are issues with that.
The 40 hours on your other job will count against your HOS. You'll either have to take a 34 hour break every week to reset your clock or run on perpetual recaps. If you go the recap route you'll need to wait at least 10 hours after finishing your week at the other job before you start driving.
You'll need to find jobs that you can finish and get back to your starting point in under 30 hours. Not sure on how you're planning on booking jobs. Most brokers won't work with a brand new authority. Finding loads, booking loads, invoicing and accounts receivable will easily chew up a lot of time. IFTA, taxes and other compliance paperwork will chew up more.
Realistically, you'll be looking at close to 20 hours of drive time per week. That's IF you can find a load that week.Rideandrepair, singlescrewshaker, JoeyJunk and 1 other person Thank this. -
Rideandrepair and singlescrewshaker Thank this.
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Your better off focusing on being the best mechanic you can be. You'll make more in the long run as a shop or mobile tech.
Short Fuse EOD, bumper Jack, Rideandrepair and 3 others Thank this. -
Not the first I've heard of that. Coworker said he did that for a year and made a #### ton of money (to me) but was working 80 hrs a week. If you got ambitions you gotta hustle for it not just talk it. He has a family so that's understandable.
Rideandrepair and singlescrewshaker Thank this. -
Its one of those nich things that CAN work but is FAR more likely to bankrupt you. Your best bet would be to form a relasionship with a couple of nearby truckstops that dont have a shop in them, buy a somewhat nice looking used pickup or service truck and pack it with a bunch of tools parts and a couple advertisement signs and offer basic maintaince and repair to trucks in the lots. Lot of drivers who would happily buy a filter or get an APU oilchange for example from a traveling mechanic chargeing standard or slighly lower prices. Hell buy an oil vaccum and you could offer full services in the lots at a competititve rate and a lot of drivers would take you up on it.
Rideandrepair, Siinman, Midwest Trucker and 3 others Thank this. -
Rubber duck kw, Rideandrepair, singlescrewshaker and 1 other person Thank this.
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