New owner op too be. Need honest assessment

when the rates fall it's going to be a blood bath ...... so many complaining now about the rates and they are still on the high side compared to a normal January. ...... good luck fellows

 

normal cycle to bleed out the marginal owners, those who survive will have to deal with their debt load and they will keep rates down for a bit because they will grab anything that they come across.

 

Wait till March to see if they turn, that's what I think.

 

If they don't, which there is a chance of it now, then July should be another chance.

 

I received JB Hunt's invitation again, that with my own authority I could join their Power Only OTR for guaranteed 1.55 cpm loaded and empty .
It is hard to recognize that all costs can be as much as 1.70-2 dol per mile when you include the REAL driver's pay.
As long as the rates are above the fuel costs, some new truck owners may still be under delusion of making money. Some may think that whatever is left after fuel costs and a truck payment is theirs and all the rest is just a variable that may be assigned a value of NULL, if they luck out.
Thus the 1 dol per mile + Fuel Surcharge deals are still possible for naive newcomers. If they have a 3K a month truck payment and 3K in the bank account, thy will still take cheap loads to stay afloat even for a month longer.

 

Hey, Joe, where you goin' with that gun in your hand?

$1.55 a mile power only is way better than the new Crete lease op guy (with his own thread) posting his 3600 mile a week at $1.30 per mile exploits.

 

I almost feel bad for that kid. Lots of folks trying to site him how he is is going to be making less money than a company driver with that rate, but he is convinced it is a good way to learn to be an owner operator. Good way to learn how to go broke imo.

 

All it takes is one major breakdown with a 10k to 20k bill and a couple weeks off with no revenue.

 

I think you will be fine. Just watch your numbers like a hawk. Run them every single week. And if they dip below reasonable expectations be willing and able to jump ship to a more established carrier.

In a perfect world we would like to see more cash reserves to start, so rift now you are gambling you can stockpile the reserves before anything major breaks on the truck. So its a risk, but what in life isn't a risk?