Be O/O first time

Perhaps they tell you need your business plan. Well, that business plan is not that much a business plan as avoiding hasty irreversible things with your money. I look at it as a simple evolutionary chain of accomplishments in this trade for which everybody is capable of achieving, if given a precious ability of money management and a small propensity of taking risks. Here is my business plan to have been executed. I accumulated 30 K cash. That part of it was the hardest and longest. Then I went to Arrow Truck Sales and gambled with a Swift fleet Volvo (and yes the color was white) down-paid 20K on it, and took 30K in loan from Transport Funding at 15% - (it is called Usury by religious and capitalism by no so religious) leased it on to dudes I had worked for (on 1099 too). Perhaps that was a risk (losing 20K and be 30K in debt). Having been exploited by the dudes 135K miles a year and grossing 200K annually, after which I took 80 - 90K home, I prioritized paying off the truck, which I did. Now, having getting rid of Usury (and I am not too religious), I can take home about about 100K a year with the same level of exploitation. But my next step on this achievement ladder is to rid of exploitation. So, the answer would be to get your own carrier authority and fight the exploitation, but for this you need to amass some more cash or cheap credit line, and there some more risks involved and perhaps a real business plan. Unless you penniless, don't lease! As leased you might actually make more money vs company driver, but you are committed and they may not have mercy on you, if you want to get out. I preferred to slowly but surely save cash. I think 20K would be all right, if you know the guys you are leasing your truck to (10K down payment 10K in reserves) so they would give you fuel card and assist you with break downs, maybe they could lease you their trailer too. You might also buy an old carcass for 5K and hope for the best too. In any case, it is better to buy your own truck and be leased on to a small carrier (of your own choice). But do something. Being on 1099 is not good at all (unless they pay you at least 80K per year).

 

If people think it so easy, then what is everyone waiting for ? You not getting any younger. You would be stupid if you know you can make more money driving your own truck and you keep driving a company truck.

 

It only takes basic math skills to know that you will never make money buying a brand new truck or glider and leasing on to a carrier getting paid per mile. That's not how owner operators make money. Should have done more research.

 

I told you I never had a new truck. I don't think you understand basic math. What are you going to buy a $5,000 truck ???

 

Stay tuned for Lurk vs Brandt round 2... coming up soon

 

I was driving a $6,500 truck with a rebuilt engine no emission. I also was driving that truck since 450,000 miles and drove it to 1,450,000 miles. I know exactly what that kinda truck needed for repairs.

People can buy a new Glider $120,000 or the big Orange glider $55,000 or even a year 2000 like the one I had for $5,000. Pick your truck, what truck is the cheapest to operate per mile ?