How to become an Owner/Operator

I don't know of a law that states that if you have authority that you must run trucks. But, it doesn't make any sense to pay out all that money for insurance unless you are running. As a footnote, some of the brokers who do require a minimum amount of time in business will look at how long your authority has been active. If you get your authority and put it on the shelf then you have not been operating. Some will want to see some consistency in your running your authority. You may still need to have active authority for 6 months or whatever their requirement. A friend of mine put his authority on hold and leased to a carrier for about a year. When he went back to running his authority there were a couple of brokers that would not load him until he had been back in business for the minimum time. I believe that it was 6 months. One thing that I found ironic is that he had done business with them prior to having given up his authority, but they still would not load him again until his authority had been active for a few months. I believe that it was either Bear or TA Services.

If you are not planning on using your authority you may want to save your money until you are ready to run. Most brokers could care less how long you have been in business as long as you have active authority and insurance. It is more important to use good manners and courtesy. Some will cut you some slack if they think that you are professional. You may not be able to get advances from brokers until you have been in business for a while. There are a lot of crooked carriers. Some will open their doors, get money from brokers and close their doors. Brokers need to be careful just as carriers should.

 

Just read this post, well done!

 

Wow, Gotta give thanks to BigJohn for that breakdown, i was thinking of going O/O possibly one day, but i am not the business type, and i'm a pretty simple guy, but this breakdown kind of showed me what goes into being one, and i take my hat off to you guys who can do it. I know my own personal limits and As much heart as i would try to be an O/O i just don't think i have that knack for it, thanks for all the posts everyone!!

 

This thread Has great info

 

i say put your foot in it roll hard and flip that bear the bird as you smoke past him doing a buck 10 then when he lights you up slam on the jack brake while hes alongside you and turn a hard right then as you watch him get slaped upside the head , smile and wave another your number one at him and keep those WHEELS ROLLING

 

I say lease a used truck make your mile pay your bills pay off the truck and be your own boss is what i say , stop making it so complicated folks

 

I would try that but fear I would put my foot threw the dash, that is if I could even lift my leg that high.

 

i've made three lease purchases and i don't care what anyone says you need to be prepared to liveon 8-12% and thats the truth of it everything else goes to the truck.sure you'll have an account load up with good money but be thrifty keep overhead down. that includes kids and buying all the fancy gadgets. you get fair to new with 200000 mile warranty + you don't get too used cause nobody will take you.things cost more but more at first builds credit as well as you have confidence to back up any load and not as much worry use the company you lease to to to provide those extras you'll need to get your job done as you aquire asset money then each year switch to your own in 3-5 years your purchase is yours and under your own authority.credit is up accounts look good go for another truck and keep a company driver in your first truck to pay for your new one as well your pay is now significant cause you been doing buisness as? for the whole time understand thats the basics. they work.

 

You will make much more if you save your money and just pay cash for a truck or at least save enough for a good down payment and get your own financing. You pay a very high price to lease purchase a truck from a carrier. One thing anyone who wants to become an owner operator and lease to a carrier should understand is that the better paying carriers could care less the age of your truck as long as it will pass a dot inspection and looks decent. If you are only netting 8% you would be much better off as a company driver and save your money so that you can buy a truck rather than leasing.

 

I have been a local driver for over ten years. I am thinking of buying a used truck and trailer and starting up for myself. This is my plan, I would like some others .02

I would be buying a used truck somewhere in the 15- 35,000 range. I would also buy a flatbed trailer. I would also pay for everything tags, ins, ifta,mc#,and what ever else is needed.

I would like only to run the north east NY,MA,CONN,NH,PA,ME,RI

Does it help to run a small area such as the north east or is it better to have a larger running area. say the entire eastern seaboard.

Is flatbed the way to go? I have heard you can make more with a flatbed than you can a van or reefer.

Also,how do load boards work is it as simple as choosing a load and bringing it to it destination. Thanks in advance for all your help