So you want to "own " your own company

There is a lot of good and bad being an o/o a lot of headaches you don't get driving for someone else. I have been doing o/o for about 7 years thought i new most of it when i started , boy was i wrong. Another driver took me under his wing to help me out. the only thing he did is almost put me out of buss. i left him never got my money. Made a vewry good contact with one company and have been there in house hauler for five years now. Landstar was there carrier and i beat them out with service and now they run me nonstop sometimes.. But what i wanted to say before i got off course was i don/t think there is anything better than being a o/o Good Luck! Mike

 

I am looking into becoming an O/O. If I do, I would sign on with the company I am now driving for. I work on percentage, therefore I know what each load pays and what all expenses are. For the next month, starting July 1st, I am going to post all my numbers for the month and I would like some feedback on my numbers. I would like to hear what you guys have to say, because it always looks different from someone elses point of view. I feel I can make decent money on this and I have wanted to do it for many, many years. I just have never pulled the trigger... so to speak. I will not be posting the company name that I run for, since they probably wouldnt like their rates all over the net. I will post total numbers on income,miles and expenses... and that is what I would like your feedback on.

 

Is this a lease purchase?
New truck or used?
Payments?
Percentage?

 

If I would do it, It would be a purchase of a used truck and trailer. I would recieve 90% of gross and 100% of surcharge. I more than likely not exceed $3000 in truck trailer and insurance payments per month.

 

Looking to work for myself. I have been trucking for 10 years for a excavating company running tri-axle dumps and lowboy hauling equipment.
Tired of the company crap. I just saw a KW T-2000 with a 60 series Detroit that has 250K on rebuild and about one million on chassi.
It has the Auto shifter transmission. They are asking 9K. I can pay cash for the truck. What should I look for? Can I make any money right now or is freight too cheap. They are offering .90 CPM with fuel surcharge comes to about 1.20 CPM. That sounds cheap. I have not done the math but what is the minimum CPM to make it? Need all advice good and bad please!

 

Buying the truck is the least of your worries. This present economy requires that you think outside the box. I gather you are leasing the truck to a company. What do they haul? What's the average miles per week you can expect? What do they require in regards to escrow,plates,insurance,etc. With no truck payment you should be fine but some companies deductions will drop your profits quick. I suggest you do some research and check into getting your own plates and insurance and compare the cost. I leased a truck to a company and then found out I could have got insurance cheaper then what they were charging me. If you have your own plates they go with you rather than paying the company for them. Consider what the products are they haul and where do they run. I preferred small regional companies to lease to because they usually are more willing to work with you.There's just more flexibility there. Just do your homework don't get rushed and make your own decisions based on the information you have. It's a business. Don't let anybody talk you into someting you aren't comfortable with,get a plan based on the average miles per week and stick to it! Remember it's your business. GOOD LUCK AND BE SAFE!!

 

Ok now 2 different people have mention something that I had a question about... Own insurance under another authority. Both stepn and allowme. claim it can be done.. I need to know how that works. I have been told the ins and authority have to be under the same name. Please help with this.

 

the cargo insurance has to be through the company with the authority. you can have your own insurance on your truck.