Advice for Father

Greatwide-tm.com
www.greatwide-tm.com
Greatwide Truckload Management (GWTM) is a member of the Evans Network of Companies. GWTM contracts with Agents and Owner Operators to move freight within the 48 continental

 

Pull Out







Oh wait.















Too Late

 

Why doesn't your dad come here and ask questions, if you are not directly involved, it may be prudent to have him base his questions on his experience.

 

Everything in your post says for him to sell the truck and trailer.

He never expected to own his own truck? Getting a truck is easy. It's knowing how to manage it and make money with it, is the difficult part.

 

Not everyone in the older generation is computer literate. Most only know how to turn the computer on. After that. They're clueless.

 

That's what I was thinking.

 

Come on guys, it's a simple question, and we've answered it here hundreds of time.

Yes, it is common for O/O's to "lease on" to a carrier, who takes care of the paperwork, the government stuff, and the loads. There are many variations of that model: some companies do just about everything, including maintenance and repair on the truck, and even have "forced dispatch". That's really close to being a company driver while having all the financial risks of an O/O.

On the other end of the spectrum are "dispatch services", who essentially do little more than provide loads, or choices of loads, and the O/O's do the rest.

From the way you word your question, it sounds to me that your father is not particularly business minded. That really is a red flag. Being an O/O means you have to run a business. To be successful, you have to run the business well. It's a lot more than just buying a truck, driving and getting paid.

Secondly, a 2009 tractor is a 10 year old tractor, and 2009 models were built in the period where the new emissions regulations of the EPA were coming faster than the ability of the engine manufacturers to make it work. Lots, LOTS of serious problems. MANY O/O's were put out of business by these problems.

My advice is this: if your dad is not (now) business minded, business ready if you will, then don't become an O/O now. Sell this truck. It's just a truck. There's trucks for sale on every corner.

Now, if he has a dream to become an O/O, he should start working towards that. Take a book keeping course at the local community college or on line. Save up for a serious business startup fund (even leasing on, $50,000 is not too much, not counting the truck). Learn about the different ways carriers treat lease operators. Learn about what kind of freight pays the best. Learn what certifications and endorsements (HAZ, TWIC, passport, etc) allow him to move into better paying segments of the industry.

Then, when he's ready, buy the right truck (and trailer if he chooses), and have a high chance of success. Good luck.

 

Yeah it is a simple question - one that he already knows the answer to if this is true "My dad has been a truck driver since 1992 ..."

 

The computer illiterate generation is in thier late 70s and older ... And even most of those know how to access the internet ... My dad's 88 and has a tablet.