New O/O Here - Seeking Accurate Maint. Figures

Hang out in the owners opp section of this site. For like three months . Then you will have a pretty good group of opinions. You could also look at @Ridgeline posts and read the last 3 weeks of them . That will also get you thinking about many things involved in being an OO.

Personally I would do it. I don't know if I would do it right now. Truck prices are still high IMO. You are married to the truck. You need access to 30k. It's best to have 20k in cash and never touch it. An engine rebuild can.be upwards of 30k. Older trucks rebuilds are around 10 to 12k.

Never ever by a Max force from international.

If you get an isx over 500k. Change the bearings out (rods and mains)and put a new harmonic balancer on it.

 

I’m very sorry you took it that way ridgeline layed down some pretty good facts right there that was an amazing piece right off the top of his head I even thought about a few things in my business that could be changed with what he said. this is not an easy business he was just stating the facts I apologize if you think I was condescending! I do get a little attached to some of my equipment and i probably lost a little money in the process but that’s just one of my downfalls i’ll have to live with . Good luck and Godspeed

 

Dude, this is a bad business to be emotional in, people will eat that up and use it against you.

I am not going to be nice about things because in the last 10 years, I've seen a lot of people go under like you, with all the good intentions and the idea of making it into a business. People dispute my numbers, but here is a fact 85% of the people who get into this fail. That number comes from those who finance these ventures. I have bought up a bunch of small fleets that went belly up and the number one reason has been mismanagement. the second reason has been under funding and the third is working with family/friends.

You were born yesterday when it comes to this business, you are pretty much standing on the outside looking into the single window into it which shows you 1% of the industry.

This site has a lot of info, we all have different opinions about how to do it and many of us don't agree with what works and what doesn't.

NOPE $16k is good for a down payment on a truck but you need $20k for maintenance and breakdowns.

Got that, but the biggest thing is knowing when to say NO, your "dispatchers" work for you if it is your freinds place, but then if you say no, then what? That's the problem. I don't mess with companies that play games, I go into a carrier with a goal and work around their system to keep the trucks going. One thing I can't stand is this statement "well I haven't heard back yet if we won the load", a lot of places bid on the load. Other places work with brokers how repost loads - they don't own (are the initiating broker) of the load.

NO you are not, it isn't unique, it actually is quite common but it sure is helpful.

Well here is the thing, you will have to talk to your drivers many times in the week if they require hand holding. There are a lot of other problems that crop up that the driver needs some intervention. A lot of times working by driving and having drivers WILL NOT WORK.

The thing that scares me is your statement - "I'm willing to do whatever it takes to keep the business afloat [...]" This is scary for a lot of reasons, the first is it shows that you need to learn how this business works, the second and most important is knowing when not to do it. I bought a fleet (7 trucks and trailers) where the owner almost died from being so overworked, he was just split between one set of problems and another, he gave up when the bank wanted to repo everything he had. Sure the trucks were making money but his inability to channel the revenue where it needed to go and trying to manage his drivers it was too much, so he ended up in the hospital for six months. So eventually he agreed with the bank to sell everything to get from under the mess.

SO there is a lot to it.

OK ... a lot of people say this but they ... well just say it.

You got advice, it is a mean industry, hiring takes a lot more work and it is a lot lot more work after that to keep the driver in the seat.

You are on the right track for a few things but the one thing that we are all warning you about is this .....

DO NOT WORK FOR FRIENDS OR FAMILY.

 

If you insist on working with/for a friend, be ready to break off the business arrangement before it destroys your friendship. Have an exit strategy.

Good Luck. I hope I never have the opportunity to say "I told you so."

Edit add: Not working for friends is a recent cultural necessity because society has changed enormously since we entered the late industrial era.

 

When you say 'friend' do you mean a guy that you go fishing with, bowling with, go out to eat with after work to shoot the #### and watch sports over beer and pizza?

Do your families know each other?

If you are equating 'friend' with 'that guy I get along with at work, who agrees with me on politics and religion,' well, THAT sort of 'friend' might be fine to go into business with.

Acquaintances are FINE to go into business with. I think most of us here were/are imaging a stronger relationship than you seemed to indicate just now.

I have heard mixed reviews on both Landstar and Schneider Select o/o operations where drivers get to pull off load boards.

 

Being defeated is often a temporary Condition giving up is the only thing that makes a permanent !!!
I’ve had a friend to work for me for six years now but we layed down some rules and neither one of us has wavered,we both held up our end of the bargain .
I also am very passionate about what I do and I love to see people succeed but there seems to be a lot of piranhas in this business !
Hopefully you become blissfulsomebody!!