maximizing my odds need comments/criticisms

Never stop planning bud if you want it bad enough ste goals and work toward each one until you get there. Dreams dont work unless you do

 

You sound like me I'm stepping into being a owner op in two weeks after a couple years of planning. I dont even care if I make similar money to what I made as a company driver it's the pride of being the boss and having to make it work not just doing what I'm told. If I'm gonna work hard it's gonna be for me

 

I have a few random thoughts.

1 - the LLC thing doesn't do much for you if you are looking to protect yourself, and your assets. An LLC is setup for through tax purpose and not as a true asset protection system. The first two things you need to help you with all of this is a lawyer (establishing a relationship is really a good thing) and an accountant (who can guide you to what really to do). An LLC is great if you have a retail/wholesale establishment but because you want to be an O/O, your liabilities extend right into your personal assets.

2 - ditch the Reefer idea, I did that, the upkeep on the reefer if there are problems wasn't cost effective, even at $2 a mile at the absolute floor for rates. My average rate to the truck was about $4 a mile and then I had to keep a separate maintenance account for the reefer, which one incident drained all the money.

3 - business classes are great but it isn't going to teach you the needed discipline to actually be successful. Many O/Os seem to have a knack for it, while others fail because they can't figure it out. Much of this stuff doesn't require business classes until you get into having a couple trucks and have to make decisions that go beyond the basics. It is ... by the way ... simple to setup a system where you can quickly (within seconds) make a decision to take a load based on your operating costs (either historic or forward looking) and other costs involved to maximize profits.

4 - you are already off to a bad start, your thinking in miles when you should be thinking in gross and net earnings, costs and market. I don't know if there are companies "hiring" drivers for a percentage of the linehaul but there are owners who do contract with drivers that do give that and give the drivers autonomy on picking loads. I am one of them and it seems to be a better idea to make money than to worry about getting 2000 or what ever miles a week. AND yes people can do that with a new CDL.

5 - Your projections are based on ... well ... not real world experience with money in trucking. I would give this a year on the road and then start working with the numbers.

6 - YOU may learn some things from forums but in reality it takes being around this in a face to face situation to really get it. I know a coupole of people who got off the road, took short term jobs (a couple weeks or so) to work in the office or on the dock to learn about other parts of the business - all of it helped them a lot. They take this stuff seriously enough that within a few years they had 10 trucks running and making good money.

 

OK you better check on that with an accountant, you may be paying more taxes in the long run than as a sole proprietor. I know comparing an LLC to a corp, I would be paying 8% more in taxes during the year under an LLC.

Yep over thinking. Just a suggestion - pick one thing and stick to it.

OK the fall back wouldn't be the classes but how you apply them. I've got a ton of education under my belt but no where would I be able to use it as a backup, that became a second round in a truck.

I understand, but a lot of people can't shake that mile thing. I never thought of miles being the key to success but the rates and costs, gross and net.

NP

True to a certain extent. But here is the issue as it was describe to me by one newbie - trucking is a big industry, you can make money in a lot of different ways. When you approach trying to find the "right" information, it gets confusing and then you can't get the opinions that matter. I, myself, find a forum a good place to start but not the place I would plan a business on. I tell people get professional help (tools) that will guide you and help you set things up, this is important because like trucking, there are as many ways to setup and run a business and most of the time it is a personal thing.

 

OOIDA has an education group that may have information/classes of interest.

 

may I ask why? I usually run no more than 2000 miles a week, the lesser the miles the better for me.

 

im not computer smart, or any smart for that matter but that was for you noobdriver
since you didnt answer , ill let you in on a little secret, theres more than one way to skin a cat and running a crap load of miles a week at a god awful rate doesnt guarantee or mean your going to get rich.