Is It a Good Time To be an Owner Operator

Discussion in 'Canadian Truckers Forum' started by Steve A, Jul 7, 2019.

  1. Steve A

    Steve A Bobtail Member

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    Hi everyone how are you?I have a question I wanted to ask.I'm presently doing local LTL in Ontario Canada as an employee.I was thinking of a "lease to own" of another straight truck through one of the major LTL companies and hiring a driver to work it.This is my first time doing this but then I hear it's not a good time to do this because Canada is going into a recession in around 12 months time so now I'm second guessing myself.Can someone advise me on this please?Thanks Steve.
     
  2. Bakerman

    Bakerman Road Train Member

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    For me, I think it's always a good time to be an O/O, wouldn't do anything else.
     
    Nothereoften and BigHossCummins Thank this.
  3. Zeviander

    Zeviander Road Train Member

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    There is a reason why people call those deals "fleece operators". The company technically still owns the truck, but you get the privilege of paying for all the fuel, maintenance and downtime.

    Unless you can buy a truck outright, don't bother looking to buy a truck.
     
  4. not4hire

    not4hire Road Train Member

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    Just. Don't.
     
  5. 13pete

    13pete Guest

    I wouldn't bother doing a deal like that.... they control your destiny and can break you in one bad month
     
  6. Champagne mane

    Champagne mane Bobtail Member

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    I heard O/O only good for long haul
     
  7. xsetra

    xsetra Road Train Member

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    You want to keep your current employment as a company driver. Lease a truck and hire a driver for the leased truck.
    NO!!!
     
  8. MartinFromBC

    MartinFromBC Road Train Member

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    Do something smarter, and less painful than that is.
    Buy a 200 pound anvil, and drop it on your foot.
    That is a better idea than leasing a truck to put a driver on.
     
  9. BigHossCummins

    BigHossCummins Medium Load Member

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    Everyone I have watched, lease or buy a truck to put a driver into, is bankrupt!

    I'm an O/O, but I became an O/O so I could drive the truck I wanted, and control how I run. I'm leased on to a company, that leaves me alone to do what I want. This is what I consider to be a good situation, to be an O/O.

    A few of my buddies got dollar signs in their eyees, so they got another truck and hired drivers, and all of them got ####ED hard. One guy I know is flying to Huston TX tomorrow from Wpg, because his "Driver" decided he didn't like OTR anymore, so simply drove the truck/trailer to the airport and flew home; leaving the truck and trailer with the keys in it, in the airport departures 15 mins parking.
     
  10. Snoopycda

    Snoopycda Light Load Member

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    I was an O/O for ten years, it will work out OK if you are the driver. If you hire someone to run the truck, there is not enough profit to justify the risk.
     
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