Settle an argument...Owner/operator a good thing!?!

If you plan everything right, being an O/O has the highest income potential short of owning a trucking company. That being said, If you buy a lousy truck, dont plan your finaces right or make other mistakes, you can be out of money in no time. As a company driver trainer you can male 80K+ per year. You can make even more in the oil fields (I think, i don't have experience there) As a successful O/O, you can make 6 figures of profit if you keep your expenses down and choose your freight wisely. If you need an inframe though, that can set you back 10-20gs, so you need to save up a lot and plan for the rainy day.

 

I have no experience as an owner operator, but since i am on the computer and read a lot of threads - it looks like some one has to classify themselves first before they go O/O .... dumb and stupid or smart and lucky let alone a hard worker or lazy.
Be careful about that O/O title that you mentioned "husband of a friend of your sister" --i am almost positive many lease purchase or lease operators walk around saying they are owner operators when in fact they "Own" nothing till that lease is paid off. And as an O/O you had better have a big wad of cash to fall back on for things like repairs and or just fuel -or its adios O/O .
I bet if you question your sisters friend a little more you would find he never owned anything --but i dunno others would know better.

 

What you hear,what you read and how you do as an O/O are 2 entirely different things.Maybe your sisters husband got with the wrong company.Some companies keep the drivers moving some brokers keep drivers moving.Some don't pay squat for what o/o want.Ive never been an O/O but it doesn't take no rocket scientist to know alittle bit about it due to the fact I've been in this industry long enough,ive talked to many o/o and what I read here.Some o/o are doing great then others I don't know how they can keep afloat.I think it depends on what you haul too.I know an o/o who only hauls specialized freight and making a killing.You as a wannabe should wait till you get some exp.The trucking industry will still be here so don't be in such a hurry.

 

I remember what an old former O/O turned company driver told me: "I'm making 45 cents per mile. They're paying O/Os $1.00 per mile. Can I run my own truck for 55 cents per mile? Hell no, and even if I could the extra work and risk wouldn't be worth it."

 

Most O/O will tell you first learn the industry. While your learning save up for the rainy days in the industry. Even then it no guarantee you will survive. If I were to go back out trucking, I would want to go back as an O/O but with my own authority. But I would need mega Cash before I do. So I sit here watching the world go by. Sux being disabled.

 

How could afford (if you could find) insurance without at least a year of experience? My wife and I want to team but we will work for someone to get some miles under our belt first.

 

I have talked to a lot of people who have relatives that are O/ O. Most of them did well. Some got killed on truck repairs. A lot of people said they cleared 1200 to 2000 a week. Avg 1500. They run illegal too when needed.

 

1500 a week for me is a bad week and I run legal all the time. Most weeks I clear around 2000, but I did have some bad weeks when I had to get a new manifold and crank balanceer. Preventative maintance and oil sampling will at least help you plan for the big expense.