Company Driver wanting to go Owner Operator.

I am currently a company driver for Averitt Express and I love it. Great pay, great home time, paid holidays and great benefits. BUT owning my own business and truck are something that I've been wanting to do for quite a while.
I've been in the business off and on for 5 years, Averitt for one of those. Averitt is the first large company I've driven for and I honestly don't have any real substantive complaints about them. But I want to be my own boss and have the freedom to work when and where I want.
My father has an '89 Pete that needs to be rebuilt basically from ground up. Good body and frame but it has sat for 15 years or so. It needs a new engine but that also is already bought and paid for (3406 B for any interested). My father is out of the business for good and has basically all but given the truck to me. Here's the question.... Would it be worth my time and money to rebuild said truck? Also for someone wanting to become an O/O would going the Landstar route or another company be a good idea, or getting your own authority and going from there? Thanks in advance

 

I wonder about this when I keep hearing it - I'm happy but I want to be misrible by being an o/o.

if you are happy doing what you are doing, I would think continue to do what you are doing is prudent.

The truck needs more than an engine, most likely need to take the cab off and put a new truck under it -this is rhetorical. Most likely it will need all new rubber and plastic airlines, need all new air valves and new tanks if they are steel. Not to mention new suspension bushings and rebuild the axles.

Most likely LS won't take the truck, I talked to one owner last week that they refused her truck that is a '94 because of this stupid eld thing. She is going though a "converstion" to needed stuff to make the led work. so you can get a conversion to be compliant or full route. The latter needs more money than just insurance.

 

So are you miserable as an O/O?

 

Of course I am a miserable o/o.

Now if you believe that, I have ocean front property in Kansas to sell you.

I am a fleet owner, but I was an o/o and can't drive so I run my little fleet.

 

Well that is a bummer about the ELD, I was hoping to avoid that. I knew with the truck all the small stuff, bushings, belts, hoses etc. would be needing to be replaced. I was hoping someone might have a rough dollar amount for rebuilding a truck like that. Going the O/O route is something I have always wanted to do, to have my own truck and my own business is something I have always wanted.

 

I'm an O/O and I'm pretty happy.... I run my own authority and I make really good money. Anybody can do it if they know how... I think you should rebuild your dad's truck.. it would make him proud! I would definitely go to landstar first and get your feet wet. You can get some good knowledge and experience as an O/O with them if you can get the ELD thing figured out.They do take a 35% fee but it is good experience if your new to being an O/O..

 

I would rebuild the truck while working at averitt and go oo with a small company paying you %. Land star is fine but they won’t take older then 2003 or something last I looked couple years ago.

I’m fixing up a 1996 and it will be worth it.

 

Landstar is bad.

 

If you are really committed to being an owner operator, you should fix that truck. If you own it without it costing you anything to purchase it then certainly fix it. If you do not have the mechanical skills to fix it, then you need to learn everything that you can because you're going to need that knowledge.

No one can tell you exactly a dollar number but it's very good if you have a brand new engine. Whatever number you'll come to to figure, figure way more than that because you'll find more and more and more and more will have to be done. Here is a small quick
incomplete list of what I think you most definitely will need.

Hoses belts radiator. New clutch rear seal and everything associated with the clutch job. New rear transmission seal new fluid new Driveline line seals new front seals new rear axle seals new pinion seals. Drain all fluids make sure no water got into the Rears or transmission. Make sure you see no chunks of Steel.

Most likely you will need new brakes drums cans slack adjusters and everything that goes along with it shocks tires.

Every Airline and rubber line we'll have to be checked and replaced and it's very possible you will need air valves, etc, new air cylinder for fifth wheel rebuild fifth wheel probably cab mounts radiator mounts engine mounts possibly U-joint spring bushings steering components who knows? Something like that that's been sitting you have to really go over everything and as Ridge said check the air tanks because they may be rotted away or ready to leak.

Figure painting the truck or having the truck painted because you have to look reasonable going down the road.

It is certainly possible to do what you want to do it this truck, but do not underestimate the cost or the amount of time and labor involved. That is for sure a pretty good undertaking. If you pay someone it's quicker but it cost you more money.

I don't know that you can lease on anywhere with that old truck at least I don't know where you can lease on. If you have to get your Authority be ready for it and do what you have to do.

Old iron especially with mechanical engine is vastly superior to any of the junk that's out now. If you got the grit & the cojones to do it that's great. When you get it done it will be like having gold.

There's nothing better than seeing old iron making money and passing all the new junk broke down on the side of the road

 

How handy are you? Stay at Averit and rebuild the truck or whatever your capable of doing and farm out what you cant. Work on it during your home time. It will be good to know your truck thoroughly when your done getting it road worthy. You can also educate yourself on the pitfalls of being an o/o during that time and develop a business strategy.