Company Driver to O/O. Is it workable right now?
Discussion in 'Ask An Owner Operator' started by JPStetson151, Oct 24, 2019.
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If he leases and bails. Doesn't that end up in collections?
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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.PE_T Thanks this. -
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.joshlilou Thanks this. -
P.S,
Not a fanboy or promoter. Just listen daily and the man knows his stuff. -
Kenny Long, host of Trucking with Authority (no longer active) and actively host of U Drive U (YouTube) is hands down more knowledgeable, and he’s not trying to sell you something.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.
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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.biggi1996 Thanks this. -
Wait and learn.
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