owner operator wage questions

maybe depends where you run etc.. I do have lease deal going supply truck trailer and plates etc... its 83% of the gross to the truck + fsc

but truck would need inspected and you have to get a pirate tattoo

 

I encourage you to take a look at the load boards and see what freight is actually paying. I never could see giving a company 25-30% to pull their trailer. I can look for loads just like they can myself.

 

I've bin an independent o/o since 94 and if your just going to use brokers for your freight i dont see how you can do it atleast try and find some direct shippers for your inbound or outbound loads if not your gonna give the broker 15% to 25% and you would be better of leasing on to a carrier IMO right now freight is tuff to many trucks trying to get freight and not enough freight to fill all the trucks and most broker rates stink as a true independent i need a minimum $1.40 or more for all miles to cover cost plus profit it will vary a litttle based on payments but its a pretty good number to go for find out what ya want to haul and start marketing your self to direct shippers it will take alot of calls but IMO a direct shipper is well worth the work.

 

If you cant afford to plate your own truck, you shouldn't own one.

 

here's my basic question: What can a guy make per mile loaded right now if he were to start off with his own authority using brokers? What kind of setup does he need to make that and where will he be running? I would love to own my own truck, but if I can't put $1000 a week in my pocket after expenses its not worth it to me. Too many hastles for investing $50k plus in my estimates.

 

Before thinking about becoming an o/o do you have good credit? Are your living expenses minimal? One thing you might try is driving as a company driver at a company you might want to lease on to. This would give you an idea as to freight lanes, how many miles you can expect, layover times etc. If you aren't making it as a company driver you sure wouldn't as an o/o. Just a thought.

 

If you are a poor financial manager I agree, but if you make $600 a week in your pocket then what are you really accomplishing by being an O/O? So back to my orignal question, what are the loads paying on the loadboards and what type of equipment is paying the most?

 

It all depends on region i'am in new england and there is more van freight than others now as far as rates from brokers seen em as low as $.85 a mile to as high as over $2.00 a mile but thats for short haul 200 miles or less the norm seems to be around $1.25 to $1.50 from brokers from what i've seen i run flat and rgn and the flat rates right now seem to be the lowest if going through a broker they no there are more trucks than freight and are using it to there advantage it seems the average flat rate of a load board right now is around $1.10 to $1.30 a mile going over 300 miles this is just what i've gotin for numbers on loads i've called about i dont use brokers often so i most likely get the lowest rate because i dont have a relation ship with em.

 

Getting your own authority isn't as good as it seems, Brokers are scoundrels.. They give you the "scraps" that fall through the cracks that the big companies don't want or can't cover right then and there... You occasionaly get a decent load but in todays market you cannot live off load boards and brokers.. They have 30, 60, 90 day pay's on bills.. So what do you do.. Go to a "factoring co and pay what 2-3% her and there ..

You pay TOP dollar for insurance.. as a independant.. (well you might save a little by joining OOIDA) same goes for tires, fuel, ect. Some loads will advance you other won't, they expect you to run off your own $$ or credit cards... Now which is better.. Base plates.. As independant, you base out of your home state.. (Can be pretty pricey if you live in NY, CA, <those are the only 2 that I can think of right now..) Settlement deductions are not an option, payment IN FULL please...

So there are pro's & cons to both.. I know, I've seen both sides of the fence... My good friend of 15 yrs just gave up his own authority and leased on to Bennett because he was starving on his own..

You decide..

 

A big mistake I have seen many drivers make is spending way too much on a truck. Some guys just gotta have a high end truck. Please understand that the purpose of the truck is to haul a trailer, do it fuel efficent, be reliable and comfortable. In todays market used trucks can be very affordable. The more you spend on a truck the less you have each month for other bills. Also you must not live above your means. Keep your liabilities at home as low as possible. If you are using every bit of your weekly settlements just to survive you will fail. You will have taxes due and eventually you will have to but money onto the truck to keep,it running. If you can't save money then it will be a disaster. Pay yourself a salary and the put the rest into a savings account for the truck. The biggest thing is formulate some sort of business plan, do not wing it.