Looking to make a solid plan to go O/O in a few years

Discussion in 'Ask An Owner Operator' started by mxbrian87, Jan 28, 2018.

  1. mxbrian87

    mxbrian87 Bobtail Member

    35
    74
    Jun 21, 2012
    Miami, FL
    0
    This comes up a lot in this board "how to get started" and I have read through most of them. There are many different situations out there so here is mine:
    I'm at a junction point in my life where I think it's time to relocate to somewhere that is a little more friendly for someone to own and insure a trucking company.
    I'm currently in South Florida, just about 15 minutes north of Miami. Housing prices and rent are high here, insurance is almost unobtainable and completely unaffordable without a massive amount of capital and the hauling rates are very low and hyper-competitive. I have been hauling heavy and oversize loads around FL and the southeastern US since 2013 as an employee of a reputable heavy haul outfit down here. I am a FL certified pilot car driver (my personal truck is a up fitted as a pilot car), i'm almost certified in rigging level 1 and do a lot of work with cranes.

    I can run & build multi-axle modular trailers, stretch trailers, flatbed, RGN, Landoll,and any of the random things I've had to tow or haul over the last few years. I have mechanical knowledge, carry a lot of tools on my truck and have the knowledge to get myself out of most jams i've encountered with malfunctioning machinery. I also have a background in marketing and business development (that was my career path before I got a CDL.)

    A little personal background on me: I am 30, no wife, no kids and no mortgage, I take care of myself, in decent shape and don't mind working long days and putting in the time. I've had a CDL for 6 years (5 of them doing oversize, specialized & heavy haul) and I still enjoy it just as much as the day I started.

    I am looking to go O/O with a my own single truck operation in the equipment transport field sometime in the next few years at least. I am saving, saving, saving, but after doing my calculations, it is going to take me 7-10 years of living in a shoebox alone, not doing any life building (getting a home, getting married, having kids) to even have anything saved up to the tune of where I can get started and survive for longer than a few months here. I'd like to get out of this place and go anywhere at this point where I can afford to get a start into being an owner. Any thoughts or pointers on this would be much appreciated.
     
    Last edited: Jan 28, 2018
    Reason for edit: wasnt done writing, posted accidentally.
  2. Truckers Report Jobs

    Trucking Jobs in 30 seconds

    Every month 400 people find a job with the help of TruckersReport.

  3. gokiddogo

    gokiddogo Road Train Member

    8,786
    14,769
    Mar 5, 2012
    Ontario Canada
    0
    What is the final goal? Own authority with rgn trailer or other multi axle heavy haul trailer? Flatbed or other as well for in between heavy moves? Or sign on a heavy company pull their trailers with your truck?
     
  4. mxbrian87

    mxbrian87 Bobtail Member

    35
    74
    Jun 21, 2012
    Miami, FL
    0
    I'd like to own a Truck and combination of trailers to keep moving, most likely a RGN & step/flat or a landoll. I think starting at a good well maintained tandem tractor and stepdeck with a dovetail will cover quite a bit of the larger, not heavy oversize moves and not break the bank with equipment cost. Tri-axle heavy-spec trucks are premium even though that is what I drive now with a 55T Fontaine lowboy. I know running 2-3 trucks+ is the way to service the customer's better because many larger heavy items also have fall-off and parts loads that need to be covered as well to earn the opportunity with the customers but I just need to get started, stay conservative, cash flow positive & pay the equipment down as quickly as possible. The few guys I have seen experience solid, consistent growth have been at the 2+ truck mark but It's tough to write a financial plan for 2-3 trucks when it's going to take a solid amount of time and considerable life changes to even get truck one up and running.
     
    Last edited: Jan 28, 2018
    DrDieselUSA and gokiddogo Thank this.
  5. gokiddogo

    gokiddogo Road Train Member

    8,786
    14,769
    Mar 5, 2012
    Ontario Canada
    0
    With multiple trailers comes needing a place to keep the ones that aren't currently in use, another cost. I think it would be quite difficult to do, but I have never done any kind of open deck work, so I'm not sure how much equipment utilization you can expect if you were to get say a rgn or larger. I just picture it as difficult to keep it loaded steadily is all. And more down time for the bigger stuff. Making the payment catch up with you. There is also the issue of finding customers.

    Would it be possible to run a flatbed or stepdeck at the beginning to establish your new business and find contacts and after a few years when adding a 2nd unit put a driver in the first one? And you can run truck 2 with rgn or larger trailer?
     
    DrDieselUSA Thanks this.
  6. mxbrian87

    mxbrian87 Bobtail Member

    35
    74
    Jun 21, 2012
    Miami, FL
    0
    You are exactly right, I couldnt see running a larger trailer without an established customer base. Like I said I think its wise to go with a tandem sleeper truck and a stepdeck trailer to start out.
     
  7. gokiddogo

    gokiddogo Road Train Member

    8,786
    14,769
    Mar 5, 2012
    Ontario Canada
    0
    Something else to consider
    It will likely take a while before you can get your work schedule down to something somewhat regular, wherever you end up setting up your business. If you're looking to meet a woman and start a family soon it may be difficult to juggle opening a business as well as home time management for your dating life. If you can work in a market where you can be home daily and make good money that would be awesome, but can you make that happen? When you meet the right one will you be able to make both business and woman happy at same time or will you have to choose? Lots of guys before have been told "it's me or the truck". Now what?
    Something to think about. And at 30 the female pool is only further shrinking and the ones that are left are firing rings like target practice. Especially the ones that want kids and don't have any yet. They know their time for kids is dwindling.

    If kids aren't something you want in life just go get snipped but never let her or anyone for that matter know you aren't firing live ammo anymore.
     
    DrDieselUSA and mxbrian87 Thank this.
  8. BigGee

    BigGee Light Load Member

    160
    79
    Nov 19, 2007
    Down South
    0
    Go otr live in the trk for a year or two to save money. You say you are single, no kid or mortgage. A year or two living on an trk should afford you capital to fund your business and relocate to where you want too.
     
    Mooseontheloose and mxbrian87 Thank this.
  9. gokiddogo

    gokiddogo Road Train Member

    8,786
    14,769
    Mar 5, 2012
    Ontario Canada
    0
    If the company he is working at now is keeping him busy he is likely making more doing heavy stuff than he would in an otr position. Not to mention gaining the experience necessary to be one of the few who follow it all the way to the super oversize work. That is worth way more than typical otr work I'd say.
     
  10. mxbrian87

    mxbrian87 Bobtail Member

    35
    74
    Jun 21, 2012
    Miami, FL
    0
    It was one of the reasons why my last serious multi-year relationship ended was because she felt trucking was like a bs “something you do before a real job” where the talk was “oh yeah hes doing it for now and then later he’s going to do something better” and I knew at some point i was going to have to choose between her and the career... and I’m sorry but I enjoy it too much to go be a has-been that talks about the golden days and “how cool i used to be” So I already understand the sacrifice, i am just trying to get setup so I can do it the right way.
     
    DrDieselUSA and gokiddogo Thank this.
  11. BigGee

    BigGee Light Load Member

    160
    79
    Nov 19, 2007
    Down South
    0

    I understand what you are saying about him getting the experience. But he said that the location of the job is hindering him from progressing to the next level of ownership. I agree with hes not gonna make as much, but he will live in the trk and be able to save his money. Instead of living in an area where the cost of living is keeping him from saving what he wants too. Im pretty sure he has learned everything about heavy hauling with the amount of years he has done it. Once he has save his money he could always return back to it with his own authority. In order to save that amount of money you gonna have to sacrifice for a short time.
     
    DrDieselUSA Thanks this.
  • Truckers Report Jobs

    Trucking Jobs in 30 seconds

    Every month 400 people find a job with the help of TruckersReport.