And as for my so called 'plan'...

What you want to do is feasable and reasonable. I started trucking around your age went to truck driving school, got on with a company, the same company I'm leased on with now as a matter of fact. Anyways I was in your shoes back then - some debts, not too many bills overwhelming me, and no family obligations. I busted it out there in a company truck paying off all my debts then got onto a cash saving craze. At that point in time the economy was humming and it was nothing to gross $1400 a week in the company truck. I was saving a minimum of $500 a week for my goals.

Originally the goal was to pay cash for a new home. And there were times when I would tell myself it's so much better to be a company driver but always in the back of my mind I wanted my own truck. So the paid for new home got pushed back a few years. I bought my truck last february, an '03 that I paid cash for, and put it to work 3 months ago. Getting started I had a really rough time of it those first several weeks when I was having mechanical issues. Really rough, so bad that it almost broke my spirit not to mention my bank account.

But all that's behind me now and the truck is running great now. I love trucking again and am having fun! I'll have the money I sunk into it back by Thanksgiving. I'm putting back $1000 a week to the truck now, paying my bills and doing great. I won't ever look back and with hindsight the things I had to deal with right from the get go taught me a lot and gave me some benefit. I'm already planning my next truck purchase a paid for brand new glider with a pre-emissions crate motor by mid 2011 - that timetable depending of course on my current truck's maintinence expenses staying within reason.

Freedom is relative even for guys with their own authority. An owner operator who's on a shaky financial footing is just as much a prisoner to his truck as the forced dispatch company driver. Freedom even has different meanings for different people. To me it means if I want to take 2 days off or 2 weeks off I can any time I want to and it's no big deal. For others it means running where they want, picking their own freight, and getting top dollar without anyone else getting a cut. To each his own. I'm happy with my situation and it suits me just fine for the time being.

You can make good money out there in your own truck even in this economy. There have always been and always will be a loud majority of those who say you can't but mostly because they don't have a clue about how to manage money in the first place. That's why they have the "I can't do it so no-one else can either" mindset. You've got an idea in your head about how to do it the right way so go out there and do it.

 

You need to fix that Credit card ASAP, with the strict rules the lenders are following these days that might be a hindrance to getting decent financing.

You could become an O/O or get your authority after 2 years instead of 3; you can get pretty good insurance rates after 2 years if you keep your record clean.

 

Caliburn, check out Broncriders thread, and Medicinemans, as well as Pharm Phail. All O\O's ( i think) some doing great, others not so much.
Keep the positive attitude, it WILL take you farther in life than just about anything else.

 

you don't get to owning a large truck company by starting as a truck driver. You get there by going and getting a Business degree or at least a degree in transportation.

 

Most of the upper managment, including the CEO at LS are CPA's. No CDL holders.

 

I'd say that is every large company. You may get one guy who sneaks through from the truck driver level but it's a rarity and personally I feel they do thta just to have one guy to point at and say "we hire from within, you to can be a big shot one day"

it's all BS. Fact of he matter is that business on that level is something many of us will never have any clue about. And that's fine with most of us since the main reason most people get into trucking is for the sense of independance and freedom that you won't get in an office. you notice I said "sense of freedom"?

 

Ambitious!
Please put your plan in writing. A well-thought business plan will be your road map to success. If you have your plan in writing, kudos to you! I think that's the 1st step in any business venture.

If anything, I'm seeing more companies trying to get away from company drivers and have lease/owner operators running their freight. Takes burden off the company but in turn puts it on the lease/owner operator.

There's many ways you can get involved in this industry, continue to do as you are and do your homework and research.

Get that credit card that's in default paid off ASAP. Even though you may have cash for a truck, at least look into financing so you can establish business credit and have a few bucks in the kitty for operating expenses. Make sure there's no pre-payment penalty on anything you buy.