Is becoming an owner operator a good idea?

The idea is to learn it on somebody else's dime (as a company driver) before you decide you're big hoss and go spend a lot of money being an OO. His point is spot on even if he didn't say it very nicely. Owner operators who don't know what they're doing are a dime a dozen and all end up in the same place: broke. Take your time, learn and make connections while you're a company driver and you'll be much more likely to make it on your own later.

 

A buddy of mine is following in his friends footsteps with minimal risk.
That is the best way to do it..

 

You need to be a bit more specific, friend. You can't expect money to just appear once you buy a truck.

What kind of freight are you planning to haul? Do you know where the freight lane is for this kind of freight? Is there a slow season and if so, when?

How much do you expect to gross and what is your projected profit margin? We are not buying a truck, we are starting a business.

 

I live in ct and was thinking about getting into live floor or dump trailer. it seems to be the most popular thing running around my area

 

Don't just read, TALK TO PEOPLE WHO ARE WHERE YOU WANT TO BE.

Do you know the names of decent owner operator companies? Ask this forum for some recommendations, okay? NEXT, go to a full service truckstop and look for them. Invite the person in and sit at the lunch counter.

"Why the lunch counter, Six?"

Because if the guy spins you a tall tale, there will be a room full of drivers that will loudly call BS. If he's solid, others will just nod in agreement. Most owner ops will give you the shirt off their backs to see you successful. Take what you learn, come back here and share it with us. Sound like a plan?

 

OK, so how much does it cost to operate this company truck? If you have been doing this for 5 years and you say you're ready to be O/O then you should be able to breakdown the operating cost of your current truck. If you can't answer that question then you're not ready.

And @TripleSix is right...you need to talk to people..in person. Most of the work involved in running a business has little to do with what you see on the surface. Think about what that means for how your time is allocated in what you envision as an O/O and how your time has been spent as a company driver.

 

There has to be a fuel stop or a diner that the guys you are seeing all meet up at.

"Birds of a feather..."

 

Ok i will start there and see what they have to say..Dont get me wrong i may not be ready to be an owner operator..

 

I was not born a trucker. However I was born to a Trucker and his wife. My father and several of my uncles were truckers. I was born in 1958 and from my earliest memories I have been around trucking and truckers. Trust me on this. You will do well to stay OUT of the OO game until you pick up both some experience not only as a trucker, but also the business of trucking.

 

Until you know someone clearing $100,000 per year after expenses and taxes I wouldn't recommend it.