company driver to owner operator; is it worth it

Don't let nobody discourage you driver, I was told the same things don't do it,youll regret it you better have 50K in the bank to fall back on.If your financially responsible not in a lot of debt and can turn a wrench on some repairs being your own boss is priceless

 

Do you live in a box?

 

I faced a similar dilemma, and with enough research and preparation, it worked out good for me. One major difference is I do not have children to raise. However, if you can stand sifting through 90 odd pages of convoluted ramblings - then here's my journey over the past 2 years.

http://www.thetruckersreport.com/truckingindustryforum/posts/4361224/

Just skip read through till you hit the figures, or read between some lines, because we left a very well paying company gig to embark on the voyage, and so far the ship hasn't sunk - but results, as you well know - may vary.

Good luck.

 

Example I'm a o/o I pay about 180 in fuel thru our fuel discount in California. I have a truck that carries 160 gallons fully gas up so I put about 120 gallons or so a week I run it local say 800 miles a week. While a guy running local doing deliveries would fill up twice at pump price 2.39 or so. Say 700 or so bucks doing deliverers my point is be smart with the fuel it might take more work but it can be more profitable If you put some thought in to it rather than going the conventional way. An average o/o makes like 2500 leased to a company and that's gross remember gas truck permits and repairs have to be deducted so don't chase miles ever. Chase revenue even if it's a bit more work like port work.

 

My only point is some put way too much emphasis on fuel millage. Yes it is the biggest expense. Just don't get carried away and step over dollars trying to pick up dimes. Not saying you are doing that by any means.


FWIW we burn diesel fuel around here. Some companies are using CNG. I haven't seen a gas burner any newer than the late sixties

 

Me too..live in an apartment...but my apartment sits right behind me while I drive!

 

Wish you the best also but listen to the down sides.

One thing I will say and have said it before on here, if you cannot turn a wreck or have a decent place to work on your rig,,, well it is shop time at 70+++ /h. Most mechanics are young and rely on codes, then after all is said code can be sonething totally different,, back to the shop you go.

You buy a used truck, from 15 to 60K which can be from 15 to 3 years old and you better have some money buried for a inframe or tranny.

Friend of mine just picked up a Pete with a C-15 and it cracked the head a week later. Guy that owned the truck had no issues and it was well maintained. #### happens.

Hire on with the large companies as an ower op and you maybe restricted to 10 years new and miles on truck currently.

 

I bet he the previous owner knew exactly what was up with that C-15. Same thing happened to me when I bought mine years ago. I was green and not really knowing what to look for in a truck. That was costly.

 

I like being a lease operator. But being away from home, I don't know if that would work in your situation.

Fast food tracking money, it won't hurt. The concept is the same. The technology you have to deal with is different and more expensive to you. Sure you get more write offs, but only per diem is free, which can be argued.

1000 to 1100 a week is good. No tires to fix or oil changes. I did the OO thing because I wanted to try it.