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<p>[QUOTE="aussiejosh, post: 12096376, member: 32680"]If your serious about this, personally I would hire a certified accountant to do a risk assessment it will be well worth the money spent, as it will be a lot more costlier if this business venture goes south for you. Bottom line is you've got to work out what your left with after all expenses are deducted this is your take home pay. If its only going to be a few hundred dollars extra compared to just being a company driver I would not even bother going through with it, sure you won't have a boss to answer to as you'll now be your own boss but that's about the only advantage. You will in fact have more worries, as you have to make sure everything is covered by insurance, if you have a break down your responsible for organizing repairs you need to have money in reserve to pay for it which again is something an accountant could help you with. Again I would not even attempt to go O/O unless you have a reserve of cash on hand, so prepare for the worse case scenario if that happens can I cope and recover and continue to drive? If yes then go ahead with the O/O venture, if no then avoid this option at all costs. Bottom line is it is ultimately your decision, just don't let emotions rule your thinking as they say "when emotions are high logic is low" what may appear like some kind of great deal on paper may in fact be a very bad risk. So really focus on doing your due diligence on this deal. All the best future O/O. <img src="styles/default/xenforo/clear.png" class="mceSmilieSprite mceSmilie6" alt=":cool:" unselectable="on" unselectable="on" />[/QUOTE]</p><p><br /></p>
[QUOTE="aussiejosh, post: 12096376, member: 32680"]If your serious about this, personally I would hire a certified accountant to do a risk assessment it will be well worth the money spent, as it will be a lot more costlier if this business venture goes south for you. Bottom line is you've got to work out what your left with after all expenses are deducted this is your take home pay. If its only going to be a few hundred dollars extra compared to just being a company driver I would not even bother going through with it, sure you won't have a boss to answer to as you'll now be your own boss but that's about the only advantage. You will in fact have more worries, as you have to make sure everything is covered by insurance, if you have a break down your responsible for organizing repairs you need to have money in reserve to pay for it which again is something an accountant could help you with. Again I would not even attempt to go O/O unless you have a reserve of cash on hand, so prepare for the worse case scenario if that happens can I cope and recover and continue to drive? If yes then go ahead with the O/O venture, if no then avoid this option at all costs. Bottom line is it is ultimately your decision, just don't let emotions rule your thinking as they say "when emotions are high logic is low" what may appear like some kind of great deal on paper may in fact be a very bad risk. So really focus on doing your due diligence on this deal. All the best future O/O. :cool:[/QUOTE]
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TruckersReport.com Trucking Forum | #1 CDL Truck Driver Message Board
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