Any advice on goin o/o?

Some questions to ask yourself first...
- List 3 reasons why I want to become an O/O
- Am I financially sound
- Do I have cash in my bank to get me through 2 months of operating expense
- What do I want to do with my own truck
- Where do I want to run with my own truck
- What type of truck do I want for my first truck

Answer these for yourself and then we can provide some more clues to help you along your way...

 

#1 -I want more time off for family
-I don't like sharing my truck with others
-companies never put enough shiny stuff on my truck to satisfy my inner magpie

#2 money sings to me, is that a financial sound?

#3 I have credit is that the same thing?

#4 I want to make millions and grow into a major transport company

#5 preferably close to home so I can sleep in my own bed every night

#6 well duh! A daycab long nose peterbuilt!!

 

LOL...you should already have a fleet making millions from home already then...

 

Hey Jordon. We asked our selves the very same question last year. I agree with the other fellas in having a big bank account to meet the unexpected things that come along.
What do you want to pull. We bought a used truck and have had nothing but headaches, big headaches. Make sure your truck will have warranty and if the dont offer then ask. Take the truck to someone to have the motor checked out. Get ALL the truck maintenance records and if they dont have them walk away. Where do you want to drive? We had fella in tell us once that you need to make at least $1.85 per mile. With fuel the way it is maybe more now. Do you have coverage like COMP (which is pricey) or something that will cover you if you cant drive for a while, will it cover your bills or do you have a second driver. There are a few companies out there that offer down time insurance etc. We still cant afford it yet, due to a lease we cant get out of and a truck with continual problems and a large company that seems to have turned its back on after service. I think our start up for tractor trailer including our deposit was around $30 thousand. 15 - 20 is sure what you would like to take home. I could go on and on. I would try pulling for a company other than your vac truck, like a step deck or flat deck and see how you like it. Its a good thing you come from the farm, you will probably have to use your mechanical "mcgiver" techniques from time to time. If the company we bought from does not help us out here I will post the company name on here if allowed. We are in Alberta. Good luck.

 

If one knows how to manage and control their expenses then it can be done much cheaper then 1.85. Without a truck payment I have narrowed my operating costs down to 1.04 a mile...fuel, ins, etc all in

 

I hope he doesnt go for one of those company lease purchase deals...aka the never never plan. He will be twice as discouraged after that then he might be now.

 

The only difference in expenses between having a truck payment and not having a truck payment is the interest being paid if you have a payment and I doubt that the interest would equate to .81/mile. The more important advantage to having no truck payment is that you don't have that payment due if/when you have a run of bad luck IE extended periods of down time due to breakdowns or lack of work.