Been truck driving for about 3 years and I'm having thoughts about being an owner op but I'm a bit skeptical about it
I'm not asking for your financial information just curious to know is it worth the headache or not?
I work at knight transportation and if there are any o/o that can provide me good advice I would appreciate it
I want to become an O/O
Discussion in 'Ask An Owner Operator' started by tnez, May 23, 2017.
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Yes and no is the best answer I can give. First, answer these questions (not out loud).
#1 Do I have $20k in the bank right now?
If not, can I save up that much?
If no, stay a company driver.
If yes, go to step #2.
#2 Do I want ALL the responsibility for EVERYTHING that is involved with the truck?
If no, stay a company driver
if yes, go to step #3.
#3 Do I understand how to manage time, money, personal communications, education, money, time, money, time (see what I did there?) effectively.
Start with those. Then we can ask the hard questions.danny23tx, tnez and ramblingman Thank this. -
5k yes lol I understand breakdowns happen but I guess that's why 20k comes in handy. And I finally have learned and managed to effectively use my HOS and not sit for resets
But thankyou
Also what is the average fuel consumption on a weekly basis. I just began to keep track of the fuel I use but I'm still curious what others use to average everything -
HOS is not even part of the equation.
Your question there scares me a bit, here's why:
3 years of driving you should understand how to calculate fuel consumption. I have homework for you. Spend the next 30 days tracking every drop of fuel you put in the tanks to the penny. at the end of the month, take the exact number of miles driven and divide it by the amount of fuel purchased in gallons. now also divide the amount spent on fuel by the same mileage number.
This is costing 101.bulldawg trucker Thanks this. -
Between 3 and 9 mpg based on operation. Whether its a worthwhile venture depends on you. Some guys go broke out here. Some net 150k+ a year.
Robert85006 Thanks this. -
That will tell you on average how much you spend in fuel per mile for that exact truck. Here's the kicker, no 2 trucks will get the exact same MPG. Why? good question. Tire size, driving habits, differences in roads, loads, idle time, maintenance, etc.
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I've always been a company driver so I never kept track but this is valuable information I need to understand before taking the leap to the next level
Keep track of miles/ fuel used/ and weight of freight? -
I really appreciate this information. And I'm not knocking anyone but I don't want to get excited over the idea of my truck I want to make this a financial decision of making ends for my family and myself
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Yep, that is lesson number 1.
Lesson 2 (this is harder) spend the next 6 months tracking every penny spent on maintenance on that truck. Every tire, road service, PM, repair, light bulb, scale ticket.
This will give you a base operation cost when you divide all that stuff by the number of miles over that 6 month period. -
Lesson 3 involves the cost of insurance, taxes, salary, truck payment, parking, and more.
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