I got into this business to help my dad out. Have two trucks and a trailer but never really had much interest in driving since I have a pretty good mechanic job. My dad has been having health issues and probably will never be able to drive again so I'm just going through my options. I'm sort of going back and forth between options 1 and 3 so I wanted to see what others thought.
Option 1 is selling everything and deactivating or also selling my MC. Pretty much getting out of the business for good. I really don't like all the paperwork that come with dispatching and running the business. I was doing it to help my dad out but I don't think I'd want to deal with my own drivers. I don't know the legalities of the MC are but mine is over 2 years old with half a dozen inspections and no violations so it might be worth something to a new O/O.
Option 2 is just deactivating the MC and leasing out my equipment to someone who wants to be an O/O. I keep the trucks in really good shape and already have someone who's been asking me to lease the trailer. This would let me hold on to the equipment in case I ever want to drive or hire drivers. But at the same time, I'm still responsible for maintenance and leasing could be a huge headache if I lease to the wrong person. Have any of you leased your equipment out before. What are the pros/cons?
Option 3 is working with a broker to who also has operating authority, finding a driver, and leasing my stuff onto his authority. This way I'll have less paperwork to deal with and won't have to do any more dispatching and stuff like that, just maintenance. This one would probably bring me the most money in the long run. How feasible is it to hire a driver and lease the equipment onto someone else's MC and have them run it?
What do you guys think? I really hate the paperwork side of this business but I don't might working on my trucks and keeping them maintained. I also don't have any interest in driving and I doubt my wife would even let me once we have kids.
Few questions about leasing out equipment and possibly selling/deactivating MC number.
Discussion in 'Ask An Owner Operator' started by dlstruck, Jun 11, 2018.
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Oh and forgot to ask, if I voluntarily revoke my MC number, will I have to go through another new entrant audit again if I ever want to reinstate it? I can't seem to find that info and it looks like there's no way to pause or suspend it, only voluntarily revoke it.
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From the sounds of it, sell the MC while it's still active otherwise it's like starting over. And lease the equipment out, I'm sure people would jump at a lease where your going to keep it maintained for them.
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If you want to be free of headaches, sell everything and be done with it.
Camelclutch, brian991219 and Dan47 Thank this. -
Is it all under a company name that is incorporated?Dan47 Thanks this. -
You better get rid of everything while they are active and in good shape. Hoping and waiting that you will change your mind will give you extra worries and will take time to keep everything in shape. If you don't really wanted to deal with trucking now, most likely you will not want it in near future, and if you ever do, just start it over then.
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