Being an Owner Operator

Like any type business, it has it's good and bad. I've done both. Good side is getting work when you want, bad side is not getting work that pays. Like was said earlier, have money saved before starting, learn and use tax info , do not rent a truck ever ( lease), have orget a good broker

 

Been an O/O with my own authority for over 30 yrs and put three kids through college. It’s been a learning experience from day one. I do have a college background as well as mechanical ability to do most minor repairs and maintenance which saves a lot. I think leasing on with a company as an owner op is ok until you understand the business more and get your authority because the real money is in negotiating rates. I use one broker exclusively and don’t haul for less than $2/mile and most is well above that with short runs less than 250 miles averaging $5-$6 per mile. As someone stated you MUST have cash in the bank or excellent credit for unforeseen breakdowns

 

I will say yes because of the money i made and continue to make. I think its better to he a business owner because money and my ego I am not one for listening to a boss I rather be the one giving orders. You need to save save and save money before you make this decision on being an o-op, in trucking your first truck can put you under real fast. And don't ever buy an international with a maxxforce. When you buy a truck have a cushion of atleast 25k. All my trucks have mechanical breakdown insurance. Yes I have my own authority. I also run intermodal aswel. When you buy a truck you need to focus on keeping that sucker working right, you must make sacrifices to keep running as an owner operator that means do not buy a 400k house and a 60k personal vehicle. Give it enough tine and you can afford those finer things in life. Save tour money keep saving and pay attention to the regulations.

 

EVERYTHING.

You name it, they will be clueless.

As a driver, you can at least learn what's going on, don't think that you are in the dark about how it works, you can leverage a lot of your employment into learning the company's business and learning how things work.

I also want to define something - you as an owner/operator are a self-employed person.

If you want to be a business owner, then you have to become one and how that's done is an answer of YES to this question.

Can I leave my business to others and it will run without any of my input for two weeks?

When that becomes yes, then you are a business owner, until then you are self-employed.

 

I thought it was fairly easy to get the hang of it .... takes some time to figure out which loads to take and agents you can work with .. probably more important is what loads not to take ... you have to have a lot some constraints with your money . you have to have some cash saved for maintenance 20000 minimum . and some money till live off of. if you live pay check to pay check you will not make it . if you need someone to tell you what to do you will not make it .. I will go anywhere if the price is right lol ... see a lot of guys limit there options too much . I have heard the failure rate for new oops is around 65%. it came easy to me some guys can't and some guys are scared to try .. I don't think I could go back to being a company driver I make good money ... and every thing is paid for and plenty of money in the maintenance account. ....... but it kinda might be nice to say when you're broke down on side of the road "come get your truck and get me a motel room " and let someone else worry about things