Buying multiple trucks

This is an easy business to go broke in as a one truck owner operator. Big breakdowns, big accidents, falling off a trailer, getting sick.

Like @Milr72 said, throw in a bad driver that can bankrupt you in a day. That's to much stress and headaches for me.

A smart man can manage himself, he can't manage someone that's out of control, long distance.

 

Good chance that the insurance company will.not take them

 

You were an exception. What percent of guys straight out of CDL school make it 6 months, without some type of incident that "you" DON'T want to deal with. Let alone still driving after a year.

Buy your truck and be an owner operator for a couple years, then rethink this plan. At that point you will have some experience to help you decide. Today all you have are dreams. (it's ok to dream)

 

I was a one truck,one trailer O/O my entire career,42 years of it. Over the years I had many friends like me that did very well with one truck. Some would get the itch,buy another truck or two,next thing you know,they're working twice as hard,trying to keep everything solvent. Bad drivers padding fuel bills,lazy,accidents,tearing up the equipment,etc. Next thing you know,they're broke,lost it all. Didn't happen to everyone,but seemed like it was a higher percentage of failure,than sucess. Guess I was different,maybe more cautious,had plenty of chances to buy multiple trucks,still could. But,I just didn't want the headaches,wouldn't be able to sleep at night wondering what's going on with my equipment. And I liked being in control of my small business,whether I was right or wrong. Different strokes for different folks.
From early on,I always tried to see who was making the real money in trucking that fit my ways,and pattern after them. I guess I've been the lucky one,made a very decent living,and am now living a very comfortable retirement. Did it with one truck and trailer,a little luck,hard work,and a good wife.
Not trying to rain on your dreams,but if you think ten years from now your going to get quality drivers for a thousand bucks a week,it ain't gonna happen. I wish you the best,but I wish I had a nickel for every failed operation that said "But it looked so good on paper!"

 

Well said, Did it with one truck and trailer,a little luck,hard work,and a good wife. Retirement is good!

 

They don't pay for insurance on your truck.

And new driver turnover in this industry is high risk, you have no clue what you are talking about when it comes to risk.

The problem is this ---> if it was all that simple, everyone would do it.

By the way, the oil field work is the one area that the bottom can drop out of very quickly and you will end up selling out for pennies on the dollar after you end up loosing personal assets.