New O/O Here - Seeking Accurate Maint. Figures

Just fricken listen to @Ridgeline already!

Let me circle back to the startup costs. The down payment for the truck is just a small part of it. You need to get the truck up and running (ELD, printer, computer or tablet, scanner, fridge, new mattress, etc, etc, etc, etc).

Figure a couple of thou.

First week out, you'll find a bunch of niggly stuff on the truck that's driving you nuts. Vents not working, mirrors jiggling, APU vibrating, window leaking, your phone not having coverage where you're driving, etc, etc, etc,.

Figure another couple of thou.

Now, you've got to buy your insurance, plates, registrations, Oregon deposit, etc, etc, etc, etc.

Figure another couple of thou to ten thou.

Then you've got to buy fuel, and run for 45 days before the money starts coming in, unless you give up big money for factoring (the payday lenders of the trucking industry). And make the truck payment. And the insurance payment, and eat, etc, etc, etc.

Figure another ten thousand.

Now, we haven't even discussed a trailer. Are you going to get a trailer for your 10%?

Figure another 15 thou.

Than, don't forget that you have to cover that major repair that is just waiting to come out of that shiny washed engine.......

Better have 20K socked away just waiting for that. You know how I know that? Because even after doing due dilligence, the first truck I bought needed an inframe 3 months in. And I really didn't have the money.

So, between the down payment, startup costs and financial reserves, you better have 75K you can afford to lose trying to play the trucking game.

And we haven't even talked about 90% of WHAT?

 

Figure 20 cents per mile. Some years will be over some will be under but they'll average that I'll bet on it

 

If this is a new company, he probably doesn’t have dropped trailers and customer contract freight. You’re basically running load board freight for 90%. There are plenty of these deals out there and I don’t like them. If you want to be an owner operator, lease in to an established fleet, pulling their trailers and contract freight.
If you want to expand, get your own authority and work to establish customers. That takes a lot of time and usually requires a certain number of trucks and trailers no older than a certain number of years; at least when it comes to typical reefer contracts.
I recommend leasing on to a good carrier pulling their trailer. If it’s flatbed, probably your trailer but those guys do very well for themselves.
I sometimes think of expanding and hiring people but I’ve been burned already. The trucking industry has spent decades programming drivers to chase dollars; that doesn’t make you, the business owner, any money and the driver’s don’t stick around.

 

What state and what are you wanting to pull? I pull reefer and that’s most of what I know and follow.

 

@Blissful, i admire your zeal here but bro you are wanting people to tell you what you want to hear. I get your excitement. I get your looking at your total picture and seeing all of the advantages you have, and you do have some. My only worry is that you don't seem to want to hear guys with a lot of experience remind you about the ones you don't.

I'm a pretty new O/O with my own authority and I work 100% load board freight. I invoice about a grand a day and where is all this 'getting rich' ????? Most of it is right back out the door. Insurance and your weekly fuel bill will cripple you like you can't imagine and that's if you get a reliable truck.

I'm not trying to dissuade you. I recently did the same thing. Jump in, but take seriously some of the stuff that's being offered to you, for free by the way. Lots of failed truckers never heard of this forum, just blindly drove in to a black hole of debt and misery.

One last thing about friends and how we were all working/connected with family a couple generations back. You are exactly right BUT people have changed! People are selfish. People are cruel. Back then families stayed together. They don't anymore, look around. Marriages don't last because people are selfish. Parents don't parent anymore because they are selfish. It ain't getting better. Get started with your friend if that's your advantage but I would have a SOLID exit strategy as mentioned above.

Good luck amigo

 

How's the dyno results?

Blowby?

Did you get a full ecm dump?

 

Mercer, Tennessee Steel Haulers, Carrier One (Alsip, IL)

As far as reefer, America’s Service Line (has a plant in OH), WEL Companies, Coldliner Express, Classic Carriers, Helwig, Mast, Grassmid, Roadrunner Refrigerated, Ascent Power (also Roadrunner but you have your own trailer, being in OH, you have lots of options for reefer.