Need some advice on next moves

He’s paying you very well. Plenty of time to buy a Truck. Meanwhile I doubt you’re losing anything. $1500 per week is good pay. Jumping into something right now is not a good idea. I seldom discourage anyone. Do yourself a favor, learn more first. $20k sounds like a lot. After expenses it isn’t much. Surprised he’s paying 30%, not 25%. Why not stay and Learn more? Sounds like a decent Boss. Not everyone is out to help you. I don’t think you realize how good you’re being treated.

 

You have a sweet deal now. Why upset it to make less money and work way more hours? Keep what you got and enjoy it. Being an OO is non-stop work. You're ALWAYS working and the money is unpredictable. With a company gig you can walk away and actually be off duty while someone else deals with the business aspects.

 

New owner torn on a new truck.
Read this from the beginning to see what someone kinda in your position did and what can go wrong with buying a truck and then decide what you want to do

 

So let me post this question for you to ask yourself.

is it worth taking on 100% of the risk of paying for an accident, the added expenses involved with the truck, the added work needed to maintain the truck and business and risk your personal assets to make a few more bucks?

you are making gross $6k right now, sure you can make $8k with your own truck but one accident or one major breakdown and that extra $2k plus vanishes like a fart in a hurricane.

I would stay exactly where you are, maybe discussing in a year a bump up to 40% (should be 60/40) but really if you were making $2k it could be a consideration but $6k is good.

 

I agree with the others
You have a pretty good situation right now
Learn all you can about how the business works and the costs and risks involved

right now if the engine blows tomorrow , it doesn’t come out of your pay ,

if you own the truck it does , and you don’t have any money coming in since your truck is in the shop for 8-10 weeks

the most revenue combined with the expense of the repair is a hard pill to swallow for a lot of new owner operators .

if the truck gets wrecked , even if it’s not your fault , as an OO you’re out of a job but you still have a truck payment and insurance to pay .

 

Missed the other thread. He's on a 1099.

 

The cost of everything is too dang expensive right now. You should wait at least until prices come down. That my opinion.

 

I learned this many years ago in a different industry: everything good comes to an end sooner or later. Sounds like you're making easy money now and learning a business, why not milk it till it ends? Milk the teet that feeds, until it stops feeding, then go out and feed your yourself.

 

I would wait a little. Prices for trucks and trailers have already started to come down. You might be able to get a great deal in the not-to-distant future.