Need some advice on next moves

Discussion in 'Ask An Owner Operator' started by Goodnessprevails, May 26, 2022.

  1. Goodnessprevails

    Goodnessprevails Bobtail Member

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    I got my cdl 1 year ago. Was working for my boss as a 26ft Box truck driver. Did that for 6 months and got 10000 miles of Box truck delivery experience. He ended up needing a Driver for double bottom truck. Ending up getting the endorsement for doubles/triples and he hired me.

    Been working for him for a couple of months now and in a month and a half i have driven 10000 miles doing random dirt hauls/ sand and other materials from plants and construction sites.

    He let's me use his truck, he provides matinence/ fuel on the truck and takes 70% and gives me 30% of what I make. I Have averaged out what I make and that's about $20000 after all of the work I do for him in one month. Which I get $6000. I just drive and drive and drive and drive lol ‍ and that's it.

    Now that I see that it is worth it I was trying to figure out what I should do next.

    I have an opportunity to buy a truck as I do have some $$$ to invest but I don't know what truck to buy nor do I know where to get the dispatches from for double bottom.

    Of course just sitting and driving I get an idea of how things work but there is so much more to learn which comes after time.

    Should I continue working for him to get more experience. I feel confident it getting my own truck but experience is also what I need.
     
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  3. Rideandrepair

    Rideandrepair Road Train Member

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    He’s paying you very well. Plenty of time to buy a Truck. Meanwhile I doubt you’re losing anything. $1500 per week is good pay. Jumping into something right now is not a good idea. I seldom discourage anyone. Do yourself a favor, learn more first. $20k sounds like a lot. After expenses it isn’t much. Surprised he’s paying 30%, not 25%. Why not stay and Learn more? Sounds like a decent Boss. Not everyone is out to help you. I don’t think you realize how good you’re being treated.
     
  4. ProfessionalNoticer

    ProfessionalNoticer Road Train Member

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    You have a sweet deal now. Why upset it to make less money and work way more hours? Keep what you got and enjoy it. Being an OO is non-stop work. You're ALWAYS working and the money is unpredictable. With a company gig you can walk away and actually be off duty while someone else deals with the business aspects.
     
  5. Coffey

    Coffey Medium Load Member

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    New owner torn on a new truck.
    Read this from the beginning to see what someone kinda in your position did and what can go wrong with buying a truck and then decide what you want to do
     
    JonJon78 Thanks this.
  6. Ridgeline

    Ridgeline Road Train Member

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    So let me post this question for you to ask yourself.

    is it worth taking on 100% of the risk of paying for an accident, the added expenses involved with the truck, the added work needed to maintain the truck and business and risk your personal assets to make a few more bucks?

    you are making gross $6k right now, sure you can make $8k with your own truck but one accident or one major breakdown and that extra $2k plus vanishes like a fart in a hurricane.

    I would stay exactly where you are, maybe discussing in a year a bump up to 40% (should be 60/40) but really if you were making $2k it could be a consideration but $6k is good.
     
  7. Lexuslane

    Lexuslane Medium Load Member

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    I agree with the others
    You have a pretty good situation right now
    Learn all you can about how the business works and the costs and risks involved

    right now if the engine blows tomorrow , it doesn’t come out of your pay ,

    if you own the truck it does , and you don’t have any money coming in since your truck is in the shop for 8-10 weeks

    the most revenue combined with the expense of the repair is a hard pill to swallow for a lot of new owner operators .

    if the truck gets wrecked , even if it’s not your fault , as an OO you’re out of a job but you still have a truck payment and insurance to pay .
     
  8. Brettj3876

    Brettj3876 Road Train Member

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    Missed the other thread. He's on a 1099.
     
  9. pumpkinishere

    pumpkinishere Medium Load Member

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    The cost of everything is too dang expensive right now. You should wait at least until prices come down. That my opinion.
     
  10. Natty Bro

    Natty Bro Light Load Member

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    I learned this many years ago in a different industry: everything good comes to an end sooner or later. Sounds like you're making easy money now and learning a business, why not milk it till it ends? Milk the teet that feeds, until it stops feeding, then go out and feed your yourself.
     
  11. gekko1323

    gekko1323 Medium Load Member

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    I would wait a little. Prices for trucks and trailers have already started to come down. You might be able to get a great deal in the not-to-distant future.
     
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