How do you O/Os do it?

I run for the average rate just like anybody else from what I can see my fuel millage isn't as far off as you may think I averaged 5.8 this quarter I will finish the body work this winter I'm sure just don't have time right now. Yes I do all my own repair but there is not as much of that as you are thinking either I'm sure, but I lucked up on a good solid one owner truck well taken care of all its life. I look at it from the other side of the spectrum how do guys with new trucks, payments and all the repair and downtime I read about on the forum make it. Its 6 of 1 and half a dozen of the other I reckon. Just pure luck and brute force is the way any of us will stay afloat.

 

I "do it" by using my brain, and not running as many miles as possible like the mileage junkies (fools).

Martin

 

Coming from family trucking that also did lease purchases to company drivers wanting to become owner ops here. Our most successful guys drove the truck they wanted to eventually buy. They new the ins and outs of what was fixed and what may go next. They bought them for around $15-25k. Those same guys then own a fleet (if they choose to go that route). The ones that felt the need to own the 2 year old truck generally wanted to turn it in, in 6 months with the high payments and non stop working it off. If someone takes that high payment, they have to basically give up 5 years of their life. 3 to pay off, 2 to repair and maybe a trailer. Start small as Rome wasn't built in a day. Also get your own trailer as soon as you can as that is less revenue/more expense. However you want to word it. It might be $200 a week or 7% fee. That separates guys who will most likely succeed. Also it comes down to days worked and rates.

I think more guys thinking of becoming owner ops should look at purchasing the truck they are driving. They live and work in it. They know it better than anyone. Unless its a beast of course.

 

You do it by buying a good reliable truck, paying it off and getting use to saying "sorry not pulling that cheap stuff"

 

Amen brother! I have never felt more like a slave than since driving a trucker. Flipping skewed my reality big time. I was asked once why I was dispatched so tightly when there was a window for delivery like 12 hrs wide and I said that dispatch had the whip and I has to call him Massa. That got a chuckle but seriously that's some bs

 

ROLMFAO....''Mileage Junkies''.....

 

I've been wondering the same thing as the OP. I'll be happy for any O/O to tell me if I'm wrong about this, but I think the disadvantage of a newer truck with a payment is that you have to roll, no matter what.

If you've an older truck that's payed for, then the cost of sitting a few days while you wait for a better paying load is just whatever personal expenses are piling up (like if you own a house or something.)

People take cheap freight when they have to. It's a good thing not to have to.

 

I've never understood why people and/or companies haul the "cheap freight." I typically see on the low end $2.70 a mile to the truck to upwards of $7.35 a mile to the truck but I'm in heavy haul RGN type freight. I've talked to many owner operators as well as company drivers during my time out here that want to be owners and the one question I always ask is "What's your cost per mile to operate?" Some can answer the question but most cannot! So, if you don't even know what is costs you per mile to operate the truck, then how can you know if the load you just took is going to be profitable? There's also a thing called ROI or "Return on investment" That should come out of each load/profit from each load. On the other hand, what might be a "Cheap" load to you is not a "Cheap" load to someone else. It all depends on what your cost per mile is and what type of financial obligations you have from your business and at home. For my situation, $1.52 is my break even point. That being said, if after I purchase fuel for the trip and my left over revenue for that trip is $1.52 per mile, then I'm breaking even. Of course, my situation is a little different in the heavy haul world but I know what it costs to run the truck per mile. I've been offered $2.35 a mile on a legal dimensional load and turned it down because I would basically be running down the road for nothing. In that case, I would eat the cost of fuel and dead-head home if need be and/or sit and wait for a better paying load.
So, if you're that far in the hole and you do not know what it costs you per mile to operate the truck, then potentially every load you haul will be "Cheap"! It amazes me that some owner ops have to borrow money from their company to buy a tire or get the oil changed in the truck...lol! Not a good business owner or planner for that matter, in my opinion. There's more to being an owner operator than just buying a truck and driving it! Once you figure that out, you'll be well on your way to a successful and profitable business, regardless of the current economic situation.
Happy trails and keep the shiny side up...