Why should one become an O/O?

A good friend of mine bought a new truck around the same time as I did a couple of years ago. He's leased onto another company's authority. His payment is $2600 a month.

A few mos ago he didn't feel too well. Went to the emergency room and after a series of tests the doctors discovered he had a rare form of stomach cancer.

Took out his gall bladder, a foot and half of his large intestine and his colon.

Needless to say, his life flipped on a dime.

 

First off don’t listen to those who never have anything positive to say. Negative people usually are that way because they either have failed or are afraid to fail and never take any chances.
Even those of us who are not failing, have made our share of mistakes along the way. My biggest reason for wanting to be an owner op was that by my late 40’s I had made and saved enough money to live comfortably. I became extremely tired of the company telling me how much I was going to work. My home life became more important than my work life. May not be big to you, but it was huge to me.
My first time as an owner op at 24 years old I made very little money, but learned many things that paid off this time around.
Now at 51 I am leased to a great carrier that provides me with as much freight as I wish to haul. When I am done for the week, I go home and tell them when to expect me back. When I became an owner op this time I said I would be happy with the same take home as when I drove a company rig after all the smoke cleared. I am fortunate that I hit this goal, passed it by roughly 50% my first full year and due to new backhaul business recently acquired, I am on track to double my old company salary this year.
Does this mean everyone who runs out and buys a rig will succeed? Absolutely not, but if you have laid a good foundation and are prepared to be in business for yourself then go for it. Being a successful owner op can be done, but not by everyone. If it was easy everyone would be doing it.

 

To the OP, being negative isn't the problem, many of us are and we are very successful. What the problem is seems to be a huge amount of opinions and a lot of luck with those who have been doing well without serious issues.

Being an O/O is a mind set.

you are self-employed, you have to depend on the guy in the mirror and it is more than just deciding to work one day and not the next.

It takes some business smarts, especially when it comes to making sure the bills get paid first.

You are up against the banks, the insurance companies, other drivers who are your competition and the law - states and FMCSA.

There is a game to be played, many lose in the game and go crying about it but it is easy to win.

People do this for many reasons as there are many opinions how to run the truck, each one may work for others or not work at all. What works in my business will not work for the single truck owner who just does this to pay the bills. AND what works for the guy with the paid off truck pulling a reefer will not work for me.

 

I am an Owner because I am a lousy employee. I am adapt to making decisions based on available information and do not have the time or patience for group emails. Having worked at all levels in this industry I have seen what works and what does not. A key to success is the absolute ability to keep your mouth shut and listen to what you are told. One major part of this is the ability to separate truth from fiction.
There is a small amount of financial freedom achieved, but also the ability to succeed or fail on your merits. Not everyone is cut out for this. Ego gets in the way and many people forget that we work for the customer. If we loose sight of that, we will fail.
If the goal is to get rich fast and take it easy, I recommend moving on. You will need to do more than rub 2 brain cells together, that alone is another source of failure.

 

I'm a very independent, self motivated personality type. I don't need, nor do I want, somebody else telling me what to do and when to do it. As a result, I make a lousy employee. As an independent trucker I do very well. I work when I want, go places and goof off when I want, spend time at home when I want. Not very many companies that can get along with my schedules.

 

Owner operator is a natural advancement of truck driving career, a certain stage and nobilitation, I think.
If you don't go there you stagnate which is all right if you want peaceful aka less eventful life and at certain point of life it is absolutely justified.

However, many went to Arrow Truck Sales or whatever truck sale dealer and advanced themselves right off. LOL

 

Number 1 reason is because you Want to do it. There is no shoulda, coulda or woulda. It is only because you Want too.
If you don't feel the want to become independent, probably not the career path to follow. Stay in a truck someone else owns.
Some see many sacrifices needed to be successful. Many extra hours of your time are needed. More paperwork, more time working on your truck and at least the same amount of time spent driving.
You don't have a back office to deal with all the minor details. YOU are the place the bucks stops.

Not all investments are cash, I always felt my time was an investment in my business. Sweat equity.

Good Luck.

 

1 - Being able to make $3k in 2 days, and deadhead home to take care of family when required, without being told what/when/where/how to do it.

2 - Time off.

3 - Time off.

 

The last reasons should be -

- Hatred of employer
- Hatred of Job.
- Want to go faster
- Think I’m underpaid.

 

Ok a "no fun police" response here, if you have to ask these questions o/o probably isn't for you. I think for most people these reasons are self evident.