I'm kinda sad... is being an Owner Operator really that bad?

Cheer up!!

 

Robm78 -

The short answer is: the search tool on here is your friend.

If I were you, I would go through this site, especially the 'So you want to own your own business' and 'No experience but getting authority' threads, and read them...and then re-read them, and then read them again.

The reason most people get a not-so-favorable response is because everyone is sick of the wanna-be owner/operator of the week popping in, NOT searching for answers that are already on here, and expecting everything to be spoon-fed to them.

Now, as far as becoming an owner-operator: that's entirely up to you. Quick advice I would give?

1. Find an O/O who you know who is willing to mentor you.
2. Save up enough money to buy a tractor and trailer free and clear, with cash.
3. Make that tractor a non-EGR, non-DPF one. Pre-2004 is a relatively safe bet, have it looked over by a mechanic you trust very thoroughly. You can get some great deals on 8 or 9 year old tractors, some of which have been one-owner, owner/operator rigs, which have been well cared for. Sometimes you can find them with the brakes just redone, new rubber, etc., and if there has been motor/driveline work, insist that there be paperwork to prove it.
3. Save up enough money to have a $15,000 to $20,000 operating fund your first day of operation.
4. Pay for your start up costs (insurance, plates, IFTA, UCR, etc.) and STILL have $15,000 to $20,000 in the bank for your operating/emergency fund.
5. Start keeping track of the expenses on that company truck you drive, as best you can. It will be an eye opener for you, because when it's YOUR truck, you own all those expenses.
6. Ask yourself if you really want to spend almost all your waking hours either driving or doing paperwork or being on the phone trying to get loads, because that's all part of it.
7. When you're not driving or doing paperwork or on the phone, you'll probably be wrenching on the truck, because in order to keep costs down, you're going to HAVE to do some (read that as most) of the work yourself.
8. Use the search function on here and spend many hours learning from other people's wisdom and mistakes.

I'm too tired to continue listing stuff, but that should give you a good start.

Good luck, and God Bless, whether you do or do not decide to become an O/O.

 

Oh, and the one thing I forgot to mention - I don't do this because I'm broke or unhappy. I don't do this because I can't do anything else.

I do this because, when I'm in the cab of that truck on a gorgeous day, with the sun shining down on me and the Cummins growling and the turbo whining and the faint smells of grease and burnt diesel and leather wafting gently to my nose, I realize I'm my own boss, and I'm running free, and maybe my girlfriend is with me riding shotgun, and all the other ancillary stuff I have to do to make those wheels turn becomes totally worth it.

I can't take credit for the phrase, but I have 'a sick addiction to trucking', I have diesel in my veins, and there are very few things that make me as happy or satisfied as when I'm having a good day trucking.

Now, there are the crappy days...but I don't seem to remember them as much as I do the good ones. When I start to remember the crappy ones and can't remember the good ones, it's time to turn in the keys.

 

Truth of the matter is that the money an O/O makes is only little better then a company driver, after all the bills are paid, and you have all the responsibility.

Be careful as there are alot of O/O's leased to companies where they are just glorified company drivers, forced dispatch, time off requests, tell you where to fuel, ect, ect...If you are gonna work for a company like that then you might as well be a company driver.

That being said, There is nothing like being your own boss! Work as hard as you want, go where you want and take time off whenever you want. If you make it as a O/O, it is very gratifying, knowing that you did it all yourself.

 

^^^^^^^^^^^^^^^^^^^^

All true statements!

 

that isnt a true statement, if you know how to the business, you make a good deal more than a company driver. I do.

 

the biggest problem most people have with being an owner.operator is they have no discipline. there is acces to large amounts of money and the temptation to spend it on whatever you wish is very tempting although the majority of that money needs to be saved for fuel, repairs, taxs etc.

generally owner operators fail for.one of a few reasons. they cant not spend that money, they dont have the ambition to work and would rather sit home for weeks and go truck a few days, or they keep on hauling for cheap rates just to keep moving

 

I agree, I make a lot more than a company driver and work less, but don't expect to start at the top. My truck is leased to a carrier and I still do quite well.

 

Owner operators fail everyday. Mostly, it comes down to a lack of capital. Way too many guys with no business sense whatsoever save up enough to put a down payment on a truck and have zero reserves. A relatively minor breakdown like a turbo can snowball into bankruptcy in a few weeks. Every week here we we the same questions over and over by green company drivers with a romantic notion of being an owner operator. Most of those guys go lease purchase from the same carrier that wasn't giving them enough miles in the first place, then they make less and less and run harder and harder until they've post everything.

You'll find a lot of good advice here, but you will not find acceptance for a harebrained idea, only criticism, helpful or otherwise. A solid plan will be met with enthusiasm and helpful tips for sure.

I personally make great money as an o/o and I'm currently leased to a carrier. I made great money with my own authority until 2008 when the bottom fell out of the flatbed market, especially in FL. I make far more than company drivers, work far less, and do as I please. Even most o/o can't say that. Your results may vary. Good luck.