Going O/O from Company

you should know by now how much it cost just in fuel alone to run that truck down the road.

take that cost and minus from your pay. that's what you have left over to take care of YOU and the TRUCK payments and PERMITS and INSURANCE. and plan for maintanance and breakdowns.

generally if your leased on to a company. you run under there authority and insurance. but you have to pay them back for what they provide for you.

 

You run 732 miles a day on a drop and hook in KY ? Has that carrier been audited lately ? Don't think the EOBR issue is dead . You know , the more miles you run at $.98 the more you're going to lose .
Are you sacrificing benefits like paid holidays and vacation ? Health insurance ?
As far as the stability goes we still are losing accounts we have had for years because the plant closed or moved . A recent one closed because a competitor just bought the company to regain market share . They didn't need the production and closed the plant .

 

Seems like you have the itch to become an O/O. Nothing wrong with that.Probably better money in your current job.Sounds like a good, stable gig, with a good company. That is a huge plus.
Why do you want to change? Seems like you are bored. Possibly ask company for a different run once in a while ? Remember as an O/O your weekends would be spent on maintenance, book-keeping, etc.
If you are looking for more money, I would doubt you would come out better, especially if you have any good benefits.Really hard to address that,since we do not know how much you currently earn. Day cab @ 98 cents plus FSC is around average, I guess, but ain't a lot of money in the big picture. All rates need to go up.
If you have O/O fever, that is probably an OK deal as deals currrently go , but if I were doing it strictly for the bottom line money, keep the job.

 

When you account for pre and post trip, drop and hook, fuel, you have ten hours to drive. 73 mph. What happens when your company says you have to run legal?

 

2.2 million miles and 10years total driving? Man your a go getter!

 

Worse , what happens to an O/O when he has an accident regardless of fault and the other party's attorney files a discovery asking for every detail of his operation for the last 5 years ?

 

Just stay as a company driver. It has been my experience on a similar dedicated account as you are on now, that making .98cpm and having all the associated costs of owning your truck will not benefit you at all. I did exactly what you are and bought my truck in 2003 and went on the deal as an O/O and made about the exact same money as I did when I was a Co driver after all my costs.....then you also get to add the cost of the stress of breakdowns, rising fuel costs, and now you also have no medical insurance and they can do away with your run at anytime or give it to a company driver as they make more $$ by paying a guy per say $.38cpm on the same run.

 

At .98 cpm, it will be very hard to do better as an O/O. You lose all benefits, pay self employment tax, workers comp, etc. At .40 cpm, the actual driver cost will be between .50-.60 cpm. You have to pay for a truck, insurance, repairs and license, plus fuel up to the surcharge rate with the remaining .38-.48 cpm, plus find a profit in there somewhere!!! please break down your game plan for us on cpm basis and show us how it will work for you.

Now if you are only making .25 cpm as a company driver now, it might be worth it.

That's not even touching the regulatory aspects of legally logging 732 miles per day in a daycab in KY.

 

732 miles a day five days a week? Oh HELL NO! The object of and owner operator is to work less and make more. At $.98/mile that's only $717/day gross. Seems like a lot of work for no money to me.