Can it be profitable?

Discussion in 'Ask An Owner Operator' started by wuzafuzz, Jul 10, 2011.

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  1. Jul 10, 2011 #1
    wuzafuzz

    wuzafuzz Bobtail Member

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    Hello and good afternoon to all. I am looking for you professional o/o's honest opinion. I am eligible for retirement from my police career and was seriously contemplating becoming an o/o. I have been driving part time for the past four years, and have done local work and regional work. I would be looking to sign on with a local or regional position, preferably line haul, or something along the line of food haulers, forward air etc. Like driving at night best. Because of my pension, I would not have to make a killing all the time. My pension gives me 1400.00 per week and full medical benefits for me, my wife and children . I would have 20,000 to put in account to start with and 10,000 to 15,000 down for truck. My question is, after all the negativity about being an o/o, can one be somewhat successful and make a few bucks in today's economy?
     
    wuzafuzz, Jul 10, 2011
    wuzafuzz, Jul 10, 2011
    #1
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  3. Jul 10, 2011 #2
    blackw900

    blackw900 The Grandfather of Flatbed

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    If you run the business as a business and don't haul freight for crappy rates you can make a decent profit.

    What would be the point of having a business if you couldn't make money?
     
    blackw900, Jul 10, 2011
    blackw900, Jul 10, 2011
    #2
    BigJohn54 Thanks this.
  4. Jul 10, 2011 #3
    wuzafuzz

    wuzafuzz Bobtail Member

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    That answered my question exactly. I have been kicking the numbers around a bit, just started to second guess myself after reading a lot of the other posts. Thanks for the response w900.
     
    wuzafuzz, Jul 10, 2011
    wuzafuzz, Jul 10, 2011
    #3
  5. Jul 10, 2011 #4
    BigJohn54

    BigJohn54 Gone, but NEVER forgotten

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    Welcome to the TTR Forum.

    I think most fail because they are truck drivers not businessmen. You can't make it by just keeping it loaded, driving and looking good. Unfortunately that was the mentality that I used for my first failure. You must understand the Cost of Operation in CPM. And you need capital to insure success. You have the capital which is what most lack. You can learn the rest before you start.

    You picked a great place to get information. There are many great Owner/Operators on here that will help you out. Blackw900 is one of the knowledgeable ones.

    I'm going to offer a big old reading assignment that will arm you with a truckload of information. First read these five threads:

    http://www.thetruckersreport.com/truckingindustryforum/ask-an-owner-operator/146942-how-to-become-an-owner-operator.html

    http://www.thetruckersreport.com/truckingindustryforum/ask-an-owner-operator/147854-what-would-experienced-o-o-buy.html

    http://www.thetruckersreport.com/truckingindustryforum/ask-an-owner-operator/125507-what-estimated-operating-costs-o-o.html

    http://www.thetruckersreport.com/truckingindustryforum/ask-an-owner-operator/148340-keeping-track-o-o-operating-costs.html

    http://www.thetruckersreport.com/truckingindustryforum/ask-an-owner-operator/134211-no-experience-but-getting-authority.html


    Then read all the docked threads in the "Ask An Owner Operator" section. It's a lot of reading but 90% of the questions you have will be answered plus all the ones you didn't know you had.

    I'm looking at buying a third truck after many years out of the industry and found all this reading very educational. So that makes me just a "spurt" not an expert.
     
    BigJohn54, Jul 10, 2011
    BigJohn54, Jul 10, 2011
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    wuzafuzz Thanks this.
  7. Jul 10, 2011 #5
    georgeandson

    georgeandson Heavy Load Member

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    Plus for for ^ post.
    Prepare for the worst. Hope for the best. Study the business and industry aspects like your life depends on it. Then close you eyes and tell me what you see... Thats what you could end up with if you aint careful. NOTHING. But done right you could have a profitable business. Good luck.
     
    georgeandson, Jul 10, 2011
    georgeandson, Jul 10, 2011
    #5
  8. Jul 10, 2011 #6
    wuzafuzz

    wuzafuzz Bobtail Member

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    Thanks for the threads Bigjohn, I will definitely read them. By the way, your screen name reminds me of riding with my father in an old white road boss when he was hauling for Nancy Lynn bakeries back in the 70's. Big John would be playing on the old 1050 whn am country station!
     
    wuzafuzz, Jul 10, 2011
    wuzafuzz, Jul 10, 2011
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    georgeandson and BigJohn54 Thank this.
  9. Jul 10, 2011 #7
    georgeandson

    georgeandson Heavy Load Member

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    That is your sign. YOU need to LISTEN TO BIG JOHN ONCE AGAIN. :)
     
    georgeandson, Jul 10, 2011
    georgeandson, Jul 10, 2011
    #7
  10. Jul 10, 2011 #8
    SheepDog

    SheepDog Road Train Member

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    Heres my question to you friend,,, Why do you NEED to work if your pension is paying you $1400.00 a week? Don't get me wrong, if you WANT more money than that or NEEd more money then that, that is fine. I personally could live off 1400 a week pretty easy and would...LOL

    Welcome by the way and best wishes to your endevor
     
    SheepDog, Jul 10, 2011
    SheepDog, Jul 10, 2011
    #8
  11. Jul 11, 2011 #9
    Mr. PlumCrazy

    Mr. PlumCrazy Road Train Member

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    Not in Newburgh, NY and after taxes. you might can live off it but not easly
     
    Mr. PlumCrazy, Jul 11, 2011
    Mr. PlumCrazy, Jul 11, 2011
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    SheepDog Thanks this.
  12. Jul 11, 2011 #10
    wuzafuzz

    wuzafuzz Bobtail Member

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    Newburgh, NY
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    Sheepdog, mr plum crazy is exactly right, in most parts of the country I probably could. But not here. Unfortunately, my property taxes alone are 12,000 a year. Not to mention mortgage etc. A smart man would go to a cheaper part of the country to live, but with two school age kids the wife isn't willing to uproot right now. We make our decisions in a democratic fashion by each getting a vote, but she holds veto power, so I always lose the close votes one to one!
     
    wuzafuzz, Jul 11, 2011
    wuzafuzz, Jul 11, 2011
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    BigJohn54 and SheepDog Thank this.
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