Becoming an o/o

Discussion in 'Ask An Owner Operator' started by Torin, Jun 7, 2020.

  1. Farmerbob1

    Farmerbob1 Road Train Member

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    Most people want to do o/o more for the perceived freedom. You can fuel where you want, when you want. You can set your own hours, as long as you make appointments on time. You can say no to things a company driver can't.

    Those freedoms though, not all people can handle them.

    A lot of new o/o (or newly self-employed business owners of any type, really) start taking too much time off. They get lazy, and miss appointments. Without that guy or gal in dispatch poking them, they lose their motivation, and eventually they go back to being a company driver, or stop driving.

    That's probably the biggest thing that causes new o/o to fail. Lack of self-motivation.

    But if you do have the ability to keep a strong work ethic without someone looking over your shoulder, being an o/o is worth it, even if the money is about the same.

    Eventually, after a couple years, and paying off a truck note, the money can improve dramatically - but you gotta get there first.
     
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  3. TruckerPete1990

    TruckerPete1990 Road Train Member

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    Chance of making 75K first year isn't that high. Most don't turn profit till 2-3 years after they buy the first truck.
     
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  4. bad-luck

    bad-luck Road Train Member

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    I have been driving for 32 years, have been an O/O for 10. Not trying to insult you TrucerPete but I can only assume you are a company driver, with your statement. Think about it, if you didn't make a profic for 2-3 years you would be bankrupt.... Generally it takes a few years to get to know what your doing. (How to make the most $$) I personally don't think a lease purchase is a good idea. I would be happy to explain if you like
     
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  5. Farmerbob1

    Farmerbob1 Road Train Member

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    I suppose it depends on how you define profit.

    If the owner of one truck considers themself to be an employee and pays himself or herself an employee's wages, then the company, the total expenses, can be negative for the truck/company while the owner/driver still makes a solid takehome wage.
     
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  6. D.Tibbitt

    D.Tibbitt Road Train Member

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    I done 25k a year every year since i been out here. Single , no bills other than road expenses... 40k is definatly possible if ur frugal
     
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  7. D.Tibbitt

    D.Tibbitt Road Train Member

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    It is more freedom when ur not a company driver... but a hell of a lot more responsibility as well.. Thats the other side of the coin that never seems to be mentioned.
     
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  8. Wasted Thyme

    Wasted Thyme Road Train Member

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    Just so you know what will keep me warm in my bunk. lol
    Resized_20200509_193734_20200509_193957.jpg
     
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  9. bad-luck

    bad-luck Road Train Member

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    That could be possible, but only for a short time, as there would be no funds for maintenance and repairs.
     
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  10. RichTrucker2020

    RichTrucker2020 Light Load Member

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    Yes get with a good company and very doable. I put in my savings $850ish a week. That's even after a 25% 401k putaway. But you have to be very frugal by nature. I love love saving money. I get anxiety when I have to spend
     
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  11. Torin

    Torin Bobtail Member

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    Yeah like I said I only have 15k in cash most of the rest went to my 401k. My family has made sure that I save properly for my 401k.
     
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