new here, to own or.....

Welcome
What kind of trucking are you looking at and where are you located?, One truck with a hired driver won't leave much income for you . There isn't much money out there in run of the mill trucking for an owner operator at the best of times. I would suggest that you really research this idea thoroughly and my advise would be to try to find a specialized market with a larger profit margin

 

I won't be of much help there i am on the other side of the country, there used to be money in dock to dock tractor service , but I haven't been near that for years. Money is usually better if there is a little physical work involved. maybe some of the guys in your local market will have a better idea.

 

No money in hiring a driver anymore, I did it before a couple years ago but had to let drivers go when the price of fuel went up, after paying the drivers there was not much money left over to put back into the truck, no money in running your own CVOR and buying a trailer and finding loads on the load board, rates are no good anymore, no money in general freight anymore, not much better in flatbed either, long haul trucking doesn't pay anymore, done all of these.

the only thing that pays well is LTL, if you get on with a good LTL company with a day cab running in the city you might make alright money, Toronto has lots of LTL work.

 

Please love yourself and don't waste your money, time and health of becoming an owner operator. I have done it for 2 years untill last week. Total failure! The truck itself had never broken down, though, but now I am selling it even if I have to pay thousands for the leasing company! You owe yourself this. Do not do it!!! Please.

 

Never, ever buy your own truck. It is simply, in this day and age, a short cut to bankruptcy. Hubby has been a trucker-both driver and O/O and he has had more "take home money" as a driver. Not much money mind you, but more that what he has left after all the truck expenses. Example: last year he grossed 90,000 and after all the truck expenses, repairs, meals, etc. were accounted for, he had an 11,000 dollar profit at the end of the year-oh, by the way, his "profit" was actually made up of his Canadian Pension Plan income for half of it-so without counting his pension, he made 5000 clear. But he is stubborn and pig headed, and after being a driver for a period, he always goes and buys a truck, and we wind up poor again. I am a teacher and part of my salary has gone to pay truck repairs, etc. As a teacher, I am in a position to do career talks at my school, and I tell students never, ever, enter the trucking industry as either an owner operator or a driver. Sorry for the truth, but my motto is "Let the Cheap Freight Rot!"

 

Brampton pakies...killing the rate for everybody

 

More opinions than TIM HORTON has DONUTS on the NO $ in trucking.

Many have valid points , sad thing is that its the ones just getting into being O/O's that will work for the less $.

Figure out all your costs divide by .79 that is the least amount you need to generate to even consider being around next year.

Theres still good $ in trucking , find a niche market , dont follow the crowd , look what happened to automtive side of trucking , lots of LIGHT loads good $ , $ dropped big time.