Becoming a new O/O advice

Discussion in 'Ask An Owner Operator' started by Wespipes, Jul 14, 2019.

  1. Wespipes

    Wespipes Bobtail Member

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    About me: 15 years driving experience. Perfect driving record

    I'm looking to buy a new truck. Putting 80-100k down to bring my payments to about 1500 a month. After paying everything including insurance and such I'll have 50k operating capital My cost to operate is 1.24 pm I used high end averages to get this number. This includes all home expenses.

    I plan on going to landstar or a similar company for a year before getting my own authority to get my experience with booking my own loads and working with brokers

    I'm just curious what experienced O/O think of this plan?
     
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  2. Puppage

    Puppage Road Train Member

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    Best of luck to you
     
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  3. Bakerman

    Bakerman Road Train Member

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    @Dave_in_AZ , he can give you some insight on working with Landstar.
     
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  4. JonJon78

    JonJon78 Road Train Member

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    I would say your definitely ahead of the vast majority when it comes to having enough money when starting out...

    As for the 1.24 I wouldn't figure anything from your household into that number. I personally would keep the two separate.
     
  5. Wespipes

    Wespipes Bobtail Member

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    That brings my cpm down to 1.02
     
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  6. JonJon78

    JonJon78 Road Train Member

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    Is trailer rental or purchase figured in? Does that include paying yourself?
     
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  7. Wespipes

    Wespipes Bobtail Member

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    Not paying myself. I will be buying a trailer. I did put 4800 yearly into my cpm for a trailer. Have 15k set aside for that. I've considered financing a new trailer. Not sure I want to go that route
     
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  8. Midwest Trucker

    Midwest Trucker Road Train Member

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    Always factor paying yourself. That’s is worth .60 a mile on the low end. It costs a lot of money more then what the actual pay is when you factor in other things like payroll match, workers comp, vacation, any benefits that are paid, etc.

    What happens if you get hurt and can’t drive? You going to go bankrupt? Or are you going to hire a driver to keep your company and livelihood going? So, you need to know your actual costs or you may think your doing better then you are or need to be.
     
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  9. Old Man

    Old Man Road Train Member

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    What type trailer?
     
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  10. Wespipes

    Wespipes Bobtail Member

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    Dry van. Thought about reefer but reefer trailers are out of my league right now Maybe further down the road
     
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