Becoming An Owner-Operator

Becoming an owner operator is a great goal to have but your question is too vague for anyone to give you any solid answers. It really depends on many things like what you plan on hauling, what part of the country your in and a hundred other things.
Just read all the threads relating to owner operators on this forum. There is more than enough information here about becoming an owner operator.

 

The only time I see a bunch of owner operators using daycabs are those that are intermodal and haul nothing but containers...that is the only area of trucking that it is common at least from what I've seen. Every other owner operator I've seen running around uses a sleeper.

As far as becoming an owner operator goes...first get some more experience behind the wheel to see if you will actually stick with trucking first after that then give being an owner operator thought. Not trying to be rude but most new drivers don't last longer than a few months to a little over a year. Considering that becoming an owner operator has it's risks involved your better off waiting right now versus being a new truck driver jumping right into it.

 

Being an O/O means YOU pay for EVERYTHING. insurance .Pmt on truck, fuel, taxes,workmans comp , maintenance, 2290 HUT. License plate of near $1600. Being an O/O . Everything falls on you. Figure that truck is like supporting 2 large families not counting yours. These expenses are now covered by the company and you get medical coverage,vacation a steady paycheck.
Shops charge $100 bucks an hour up.
Give it some real thought after you have been a driver for about 5 years.
Research research research and then do some more.

 

save save save your money.....semis are a big investment and cost..

 

Learn the business on somebody else's dime! Some things to consider before you leap: what are you going to be pulling.(I'd want to know from somebody at a company who is actually makin money), what you are going to pay for a truck (you get a newer truck with a big payment and eats up your profit). When I started as a OO pulling containers I was making good money, bought older truck in good shape (low payment and low upkeep. Then got a bum load (20ft box top heavy and un-braced it rolled on me and totaled my truck. So I say that to say this, be sure your gonna make $$$ before you leap, and weight everything (plan, plan plan). Maintenance alone can break you!!! If even you make good decisions there are things beyond your control. Have a Plan A, B and even C.

 

keep working as a company driver until you are certain you can make money in this business...
once you make the jump you will need to put yourself on a very quick learning curve ... meaning it won't take you long to go broke if you start off making bad business decisions.
I have seen big failures within the first year... most of it due to overspending ...
it's like any business... keep yourself out of debt... period ...
yes you need to buy equipment ... that's a capital expense ... i am talking about all the nickles and dimes during your operation ...

ask a lot of questions
and trust no one ... seriously

 

Read this thread: http://www.thetruckersreport.com/tr...-operator/13608-so-you-want-own-your-own.html

Found in this sub forum: http://www.thetruckersreport.com/truckingindustryforum/ask-an-owner-operator/

 

Hire a good CPA

 

What kind of wagon are you pulling now? And what kind of wagon are you wanting to pull? If you are pulling a box, and want to be a Car hauler, you don't just run out and buy a Carhauler. Point dexter recommended that you learn the business first. Usually the guys that switch wagons are the guys that have a buddy to help them in the new area OR no truck payment. You don't want to learn the freight while paying for a truck. That's why so many lease operators go belly up. They're trying to learn the ropes while forking out a grand a week for a truck.