Company Driver to O/O. Is it workable right now?

I like it

 

I am also against leasing, but in the long term. I’d say it’s wise to try it first before going all in and finding out it’s not for you or worse that you’re not profitable. All the investment and effort would have been in vain when patience could have prevented that.

 

If he leases and bails. Doesn't that end up in collections?

 

Possibly, but only in the name of the company he created to lease the truck with.

Before buying, you will need a fairly strong mechanical knowledge and will to work on your own truck whenever possible. 1 shop visit can turn a good week into a net loss. Even if you choose not to do the work yourself, you need to know if the " tech " is just blowing smoke up your stack to pad the bill.

 

If he owes money (truck payments, repair bills, etc.) when he leaves, I’m sure he’ll get in trouble. Absolutely leave in good terms.

My view is that if you cannot survive in a lease program where the mega company is holding your hands, you won’t make it under your own authority. Walk before you run, advance when you’re ready, and never get stuck in the same stage.

 

I listen to road dog trucking on Sirius xm radio. The host is Kevin Rutherford. He has a online course and some cd's to educate yourself of all the aspects of being O/O. I suggest acquiring and reviewing the materials prior to making the transistion if at all.

P.S,

Not a fanboy or promoter. Just listen daily and the man knows his stuff.

 

Kevin has some free good information, but he’s mostly trying to sell you something. I get it, he’s making a living out of it.

Kenny Long, host of Trucking with Authority (no longer active) and actively host of U Drive U (YouTube) is hands down more knowledgeable, and he’s not trying to sell you something. He’s an owner of a small fleet and really likes helping people. He needs to work on making interesting educational videos, but other than that he’s the man who will tell you everything you need to know about starting your own authority.

 

From my observations the guys that are obsessed with having an easy exit strategy, generally use it and do not last for the long haul, but then the percentage of first time oo's that do not make it is high for many reasons.

 

I want to buy my own truck as well and I am lucky enough to have worked with a 40+ years experienced O/O who used to come to work with us in the winter to push snow. He was OTR for 30+ years doing it all flatbed, van, tankers, etc. but now he enjoys staying home and drives his own dump truck and has 4 other dumps with drivers. I'm not claiming he's perfect and super successful, but he's made a good living and I genuinely believe in his advise he's given me thus far.

Just some general scope of what he's told me is

Becoming an O/O to make more money is a bad decision. If you're just average at it and know what not to do, then you'll make the same you have been as a company driver. You have to really grind and work hard and long to profit more than what a company driver would make. You aren't getting specialized contract freight netting $150K a year working 5 days a week fresh into the game. Somebody in this day in age should only want to become an O/O for the passion and freedom to be your own boss. With ELDs, brokers, changing regulations, etc. it's not something someone should do hoping to get rich. And you have to be a good communicator and business man. It doesn't matter how safe of a driver you are, how light you are on the pedal saving fuel, how good your excel skills are, you HAVE to know how to negotiate and communicate with people in a professional manner. You will be dealing with brokers and they have a bag full of tricks and shenanigans to rip you off. If you let brokers take advantage of you, you'll never make enough to buy a pot to piss in.

 

Your own words should be a good indication of what life would be like as an O/O with Schneider. It's not just a lot of new drivers, but rates are down right now and they will get loads to their top drivers before they trickle down to you.

Wait and learn.