Nubee at 38

Discussion in 'Ask An Owner Operator' started by Paul Reynolds, Dec 3, 2008.

  1. Paul Reynolds

    Paul Reynolds Bobtail Member

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    Dec 3, 2008
    Moscow, Oh
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    I got a million questions and not alot of answers. What I would really like to know now though is, I am starting a trucking company and buying my first rig.......do I get a small business loan? Is there a better option?
     
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  3. IrunU

    IrunU Medium Load Member

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    Nov 17, 2008
    Outside the fire
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    Good Luck Be Safe and Welcome to the forum
     
  4. walleye

    walleye Road Train Member

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    Aug 21, 2007
    Land of Cheese
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    There is a thread pinned at the top of the page,...you might want to start by reading that...
     
  5. AfterShock

    AfterShock Road Train Member

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    Sep 19, 2007
    Inland Empire, California
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    Howdy, Paul. :hello2:

    First, let me preface this post by tellin' you that I am not now,
    nor have I ever been an O/O or I/C (Independent Contractor)
    leased to a Big truck truckin' company. I have, however, driven
    for I/C's in the past, and bumped elbows with many. By doin' so,
    I've learned that it's generally accepted that to make a small fortune
    as an O/O, one needs to START with a large fortune.

    That being said, NOW is not considered the best time for ANYone
    to consider goin' that route, especially a person with limited,
    or no, experience in the truckin' industry.
    Many, if not most, truckin' companies require a few years experience
    before they'll even consider hiring you as an O/O or I/C.
    And there's a GOOD reason for that.

    However, there ARE truckin' companies who prey on the stary-eyed
    newBees by offering them a "good" deal on becoming their own boss.
    And just about ALL of them are a road to disaster.
    One such company to avoid at ALL costs is C.R. England.
    And, from what I've read and heard, Prime is another one to avoid.

    If I were you, I'd hire on as a company driver FIRST, to decide if truckin'
    is really something you will be able to handle.
    As a company driver, unless you've chosen a truckin' company's training program, you
    can just walk away if you discover truckin' isn't a lifestyle that agrees
    with you. There's MUCH more to truckin' than meets the eye. Drivin'
    a Big truck is just the tip of the ice cube, and probably the easiest part.

    There are many I/C's who went from bein' company drivers, to the
    ranks of I/C, only to discover that they were makin' MORE money as
    company drivers, with NOwhere near the headaches.
    There's a reason why truckin' companies like I/C's, and it's because
    they prefer to do without the headaches --- and would rather that the
    I/C's pay for their pain killers, rather than the truckin' company.

    If, after thouroughly researching owning your own Big truck, you're
    still interested, I wish you good luck.
    But, in my opinion, doin' so is a recipe for disaster, ESPECIALLY
    now-a-daze with the economy goin' south, and freight drying up.
    The larger truckin' companies have no problem under-bidding the
    O/O's and I/C's by haulin' cheap freight. Not to mention the freight
    brokers who take MORE than their fair share of an Independent's profits.
    It's a cut-throat business, even for the MOST experienced folks.
    Keep in mind --- if it SOUNDS too good to be true,
    it probably IS.
     
    jlkklj777 Thanks this.
  6. Paul Reynolds

    Paul Reynolds Bobtail Member

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    Dec 3, 2008
    Moscow, Oh
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    Thank you for the info and the warning about the way this industry is heading. I am not new to trucks having drivin dumps, box, and semi's. I am a "nubee" in the since of to the OTR lifesytle. I am confident that I will be as comfortable doing the OTR thing as I am now driving a class B truck. This stuff is in my blood and has been a childhood dream that I am determined to succeed at. The only way that I will fail is if I fail to try.....right?
    Anyway, you mentioned I/C and O/O. Don't really see the difference between Owner Operators and Independant Contractors?!? I will be an Owner Operator.....I think. I am starting a trucking company (small) and will have a contract with JB Hunt to run thier trailers per/mile basis. All total, I'm investing maybe 25-30 thousand in this. Do you think that that is an unreasonable amount?
     
  7. Lil Blue Pony

    Lil Blue Pony Brown Eyed Girl

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    Feb 22, 2008
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    Can't add much to what Shocky has said.......we started briefly( less than a year) as hired drivers for an O/O that had a fleet and they were leased to a small co's....we shortly became O/O leaed to the same small company then got our own authority and went back a few years later to being leased to a mid size company still O/O then a small company and now we are O/O with a larger company.......he steered ya right...its a tough world out here for sure.......
     
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