Just coming into the industry the last thing you want to do is buy a truck on top of it. You already have the stress of trying to learn how to drive and keep up with a different way of life. You don't want the added stress of truck payments, insurance, fuel and everything else that comes with o/o. Go with a company that you can get experience from...after a couple years if your still bent on o/o then try it out
Talk me out of it
Discussion in 'Ask An Owner Operator' started by pismelled, Nov 16, 2010.
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Lets be real... with 8 months experience under your belt, you have basically no experience. I'm willing to bet you've never run a business before either. Both of these points are crucial. With your level of experience, you probably can't efficiently operate a truck, and don't understand why you won't make a cent without being able to do so - whether or not the deal is a scam in the first place.
Do you understand what kind of inspections one must undertake before you commit to buying a truck? Do you even know what to look for? If not, you're setting yourself up for the possibility of a major repair bill before you even get started. What if this truck has a problem that will require an in-frame overhaul within the next year? Do you have $20,000 socked-away to pay for something like that? How about tires? Can you afford to replace both steer tires next week?
Lets talk about freight... do you know how flatbed freight is tied to the general economy? Do you understand how this will effect your cashflow? Lets say the economy takes a downturn... how long can you afford to make the truck payments (all of them, including insurance) without a steady source of loads? If this brokerage cannot supply you with adequate loads, do you have a plan for securing your own?
These are just a few of the things an experienced driver must consider moving into the industry as an owner-operator. That someone would try to put this on an inexperienced person is the first major alarm bell that goes off with everyone on this forum, because so many inexperienced people have been totally screwed over by fast-operators in this industry. Get your CDL. Learn how to drive a truck efficiently - because your major controllable expense is fuel. Learn the economics of the industry segment you want to participate in, and learn how to run a business - just because you can drive a truck doesn't mean you can make enough money to support it. Make the contacts necessary to find the freight to support that business.
What you are contemplating doing here is courting financial disaster. Understand that the deck is stacked against you from the start; you might luck out, but the odds are that you won't.
If nothing else, make sure you can afford bus fare home. If that O/O decides he doesn't like you, you may find yourself alone, sitting in a truckstop parking lot with all of your possesions 1000 miles from home.pismelled Thanks this. -
Nah,....Don't listen to these folks,...It's all sunshine and roses!!!
Go ahead and learn a very expensive lesson,..The kind you don't learn in school,.........Big John Thanks this. -
Don't, do it. I, myself, have been an o/o for the last year. There's been some up and down times, but doing good at this moment, but like everyone say's your only 1 breakdown from the poor house. Good luck whatever you decide.
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To summarize the responses I've received:
1) I'm stupid, a moron, an idiot, etc.
2) I know nothing about trucks or trucking
3) I know nothing about running a business
4) I will fail, like the majority of people who try
5) I don't have enough money
6) I won't make enough money
7) I will get screwed by my school
8) It's too risky for me to try
9) Finally, I haven't "paid my dues" by working for years as an under-paid company driver yet.
This is quite a bit of information to consider, and I thank everyone for taking the time to respond. If I missed any points that were mentioned, or if there is anything else that should be on this list, please let me know.Last edited: Nov 18, 2010
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I say go for it.
It is obvious by your posts that you are both intelligent and savvy, and since you choose to disregard warnings of financial disaster due to maintenance or breakdowns you must also be fairly well off.
I'm sure your general 'life experience' will make up for any lack of actual trucking experience, judging from your well thought out discussions thus far.outerspacehillbilly Thanks this. -
Here's a simple test. If this is "the real deal" then they have enough money behind them to support an employee - because that's what you will be while training with that O/O and receiving that $300 per week. Simply ask them how they are going to deal with your taxes...
If at least the training part is above board, they will respond by saying that they will withhold payroll, SS and Medicare taxes - and you'll get a W2 next year. If they are a fly-by-night operation, they'll want to cheap it out by evading their legal responsibilities to the IRS; their response will be something along the lines of since you're going to be an O/O (or independent contractor) you will be responsible for your own taxes, and you'll get a W9. That is illegal, because in no way would you pass the "tests" that the IRS places on that sort of tax status during your training - and this is a common dodge to keep costs down. Also, make sure you find out about the mechanical condition of that truck before you sign anything. Getting a full ECM dump, taking it to an independent mechanic and putting it on a dyno would be the bare minimum.
Make sure you have enough cash in your pocket to buy a bus ticket... you may need it.Last edited: Nov 18, 2010
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pismelled Thanks this.
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Trucking Jobs in 30 seconds
Every month 400 people find a job with the help of TruckersReport.
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