business plan

All good things to consider. I did so much research and budgeting etc before buying my truck. Honestly if you think you can get the work at a good compensation rate then go for it. Best thing i did was jump in and buy my truck, have a good idea of what sector of the freight industry you will start in and make sure you will be profitable, other than that its all just a steep learning curve. All the best of luck, if you go into it with a solid plan then you should do allright.

 

While the boards are a great source of information I learned that at some point you have to stop listening to the arrogant SOB's like me and verify on your own.

And you are going to be living in this truck so it is OK to spend more than can be justified on a spreadsheet. Just know that you are doing that verses "justifying" what you want. To add to that, "known issues" may be a thing of the past. Talk to a lot of mechanics while on the road. Best education I got was talking to the guys that run oil samples. But that only matters if you are looking at older used and have enough data on million+ mile motors.

 

I can see you got the "standard response" on the other board you posted this on.

and I'm certainly not encouraging everyone from here - that IS successful as an O/O - to go running over there to prove him WRONG. There is some truth to his statement.

It's just not all gloom & doom.

This board is probably just a better place to get advice, based on those that HAVE EXPERIENCE DOING O/O, than a board where folks DO NOT HAVE that experience...

Rick

 

Lol, my my answer to the standard response see my sig

 

Hey digr hows the route to o/o going for you? Hope it all works out for you! Best way to go if your in this game for the long term, I was so hesitant to do it but now I have it was the best change i made, all the best of luck man!

 

rs: What he's saying in that quote is true with any commoditized market entry. The only secret sauce left to discover in trucking is the stuff you don't know yet. Thing is, not all approaches work for everyone. There's a thousand ways to make a dollar or three in this business. Only you can determine the way that will work for you. Unfortunately there's a great deal you simply must learn by doing.

OP: Do yourself a favor and complete an actual business plan. This free one from the SBA is an excellent template, and incidentally is the one I used. I'm not suggesting this to be another dick trying to make you feel bad. Seriously - complete the template and prove to yourself that your idea has merit. Before you start writing checks. The template is designed to make you think carefully about how this will work. Completing it will force you to consider a lot of angles that many people just take for granted, and end up getting bit by them when it's too late to manage the risk. You will have to make some calls and figure out markets and costs. It will take a few days to do it right. If you can't do that, or are depending on others with no stake in your success, you are already taking the first wrong step.

I'm not saying you'll certainly fail without doing this. But it will bear out some things that will give you an advantage going in. Good luck.

 

I'd say - in the face of the members here that are doing okay (or even better than okay), including guys just starting out - another statement this gentlemen makes in a blog regarding people considering O/O is: "why don't you just write a check to ME".

Now, I like the guy that owns that forum a lot, I respect his opinion and the fact that he's most certainly entitled to it. And granted - this ain't the best "new business venture" for someone to get into - if you're looking to "get rich" off it. But for folks that LOVE THE ROAD, have a good business plan and practices, decent capitalization (including reserves for unforeseen circumstances), you CAN make a decent living at it. But you gotta LOVE THE ROAD - above anything else. If you're just "going through the motions", then maybe driving for someone else is a better choice.

Planning an O/O "career - where your biggest concern is HOMETIME - is probably not the best way to enter into the industry.

I just get "somewhat miffed", at someone making a blanket statement like that - who has NEVER BEEN an O/O. There's just too many variables to the equation, to make a "guarantee of failure" to someone who's looking for advice on how to get started.

T'was kinda funny to me - as I knew ahead of time, that the owner of that site was going to post something along those lines, and recommended that he would find better info and advice HERE...

Rick

 

Rick, Where are you seeing this? Would love to read it and see what he bases his opinions on.