Thanks, Bean Jr. I appreciate your help. My husband's been in trucking for over 20 years. He bought his own cab in 2017, and now he wants to try DOT/Owner Authority. I personally don't think this is the direction he should take. We have other businesses and ventures we could invest in. I think that's where we should focus our energy. However, he's a man just like some of the know-it-alls in this thread. LOL. So he's going into this DOT thing with two other truckers. I think they are going to blow through a lot of capital, face a lot of audits, and barely break even. But you know how men are. They never want to listen to their wives. I'll check out those threads you mentioned. Thanks.
LillyLoo
DOT ~ Owner Authority??
Discussion in 'Ask An Owner Operator' started by LillyLoo, Dec 31, 2019.
Page 3 of 3
-
-
Trucking Jobs in 30 seconds
Every month 400 people find a job with the help of TruckersReport.
-
nope not sure how he is but that’s not how men are.
If hes been trucking for 20 years and wants to run as a O/O then he should already know most of not everything about it, if he doesn’t then he shouldn’t even try.npok, Dino soar, JonJon78 and 1 other person Thank this. -
Yea. That's how most men are. Some just can't accept it though. But hubby's currently an O/O; now he wants to do this DOT/Owner Authority thing. I'm trying to get some basic questions answered about the process.
-
Well I hope so what I'm going to say is helpful to you and I hope that we all can be a help to you.
The first thing is never never never ever put your house for collateral or money that supposed to go for your kids college fund or anything like that especially when you are involved with other people in business.
99% of the time it is a terrible idea to be in business with anyone else. Please, if you have to put your foot down do whatever you need to do because those are situations that you can lose a lot of money and they are not easy to liquidate if you have a problem.
I'm going to give you the best advice anyone can give you. If your husband wants his own authority then he should have one truck that he runs and he needs to run that and see how profitable it is. You have no idea if you will be profitable. Bringing Partners in and attempting to do it on a larger scale and being legally entangled with other people is all very very bad. It is literally a recipe for disaster.
The way you do what your husband wants to do is for him to run his own truck and when he sees that it's profitable enough to put other trucks on then take the money that you made and saved and grow. That's it. It is a very simple formula.
I don't know how much money that you have, but it's possible being legally tied up with other people you may lose everything you own and spend the rest of your life in massive debt.
The reward is not nearly worth the risk. And the way that you are approaching this is the riskiest way with the highest chance of failure.LillyLoo and RunningAces Thank this. -
Trust me when I say it, the kids you have been dating aren’t men. Don’t lump the real men who know what they are doing with the limited ones you only had the pleasure of knowing.
Process is simple, equipment, Dot,Mc, Insurance, load board, and you hit the road the fact your husband is an O/O and still doesn’t know this or isn’t explaining it to you says it all. He’s not cut out to be an owner operator. -
Thank you.
Trucking Jobs in 30 seconds
Every month 400 people find a job with the help of TruckersReport.
Page 3 of 3