95% of O/O (went broke), why is that?

As a single truck o/o, I like running off of load boards. I've done it for a little over 2 years now. Sure, it sucks sometimes, but it gives me the flexibility that I need. I'm not tied down to a contract, when I'm off I'm off. I go where I want, when I want.

There seems to be a common theme; if you're not doing it this way, or pulling this trailer (note all the dry van haters), then you're doing it wrong, your business model is off etc.

But understand, it's not always about the money. People have unique needs and situations. Find what works for you and be comfortable in it. Peace of mind, and overall quality of life plays a huge role in my decisions. Which is why I stopped pulling a reefer.

Now when the time comes to expand, I'll re-evaluate my options and act accordingly. Meanwhile, I'll stick to my lane.

 

lol 95% goes broke. Yeah there are tough and good times in trucking.. If 95% went back to company drivers they weren't very good business man.. Can't have truck payments and #### when freight gets slow. You save enough money to tough it out and then haul ### again when it picks up.. Brother and I just have a 2 truck operation. Still gonig strong. Get our freight direct from the factory. No brokers.. He started his MC in 2005. Still here today .. Driving pre-2000 trucks.. Wrenching on our own... driving paid off trucks.. and having fun doing it.

 

What are the odds these two percentages are the same?

 

Misesian I mean no disrespect by this but are they really paying you a good rate? Or it's not that bad for these times? Seems to me the rates driver's should be making went out the window when the industry became just another corporate industry based on nothing but greed, run by conglomerates who already have more money than you or I will ever see. ###### !!

 

I've considered it and if I were to go for it that's exactly how I'd do it.

 

I consider a good rate to be one that allows me to run the business and still show a profit. I'm hoping to achieve that and if I can stay at a 1.80 or higher all miles, I will. Big carriers get all the attention because they're big and everyone knows their name but the big carriers make up a small slice of the pie when you look at the total number of trucking companies in operation. Small carriers make up the majority of trucking capacity. OOIDA claims that 90% of the industry consists of companies running 10 trucks or less.

We can all find things wrong in this business but I don't focus on that. I'm focusing on carving out a spot for me despite what government tries to do or some of the big whig CEOs try to push through lobbying. Larger carriers can never beat an owner operator when it comes to efficiency. That is the path I'm following to achieve my goal; maximum efficiency. Where a lane may not be profitable for one operation I want to be able to put that lane to use for me.

Although I may have just started I'm already working on hitting the same few areas over and over so that I can get in with brokers in those markets. I want to do the same, small group of lanes all the time so that, eventually, I don't have to find the freight; these guys will know I'll be there and they call me. It could not go well at all or, maybe it will work out. It's a work in progress.

 

I get that, but a lot are not doing well with the same thing.

Many don't understand how some can find $1.75 on up loads but can only see $1.24 and below loads.

Brokers, good ones sometimes are hard to find with these scum brokers screwing owners out there, but I would rather warn people about the pool of sharks swimming deep below the surface instead of telling them "the waters fine, come on in" - you know where I'm coming from?

 

I know where you're coming from. But on the flip side, there's plenty of sharks a person can lease on as well. We've all read the posts. A person has to know what they are getting into and find a way to extract the good, in either scenario.

 

Not sure where you got you 95 % number from but I'm just pulling mine out of thin air and saying that about 95% of the ones that went broke should have never been o/o (business owners) to begin with and the other 5% had extenuating circumstances. Like I said, I pulled that number out of thin air but I think it's pretty much right on.

 

What can I do if the broker hasn't paid in over 30 days? Solution anyone?