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New O/Os

Discussion in 'Ask An Owner Operator' started by Beaver9, Feb 3, 2022.

Page 1 of 8
  1. Feb 3, 2022 #1
    Beaver9

    Beaver9 Heavy Load Member

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    Jun 15, 2020
    0
    I have seen so many here now trying to get their authority thinking it's all roses.
    Rates are up but as well as everything else is.
    It worries me people have no idea about the capital needed. Before it was HARD. Costs are so high now I don't know. With equipment/part shortage why even to be encouraged to do it for prices we have never seen before?

    You need to be sure of yourself and finances before you make that jump. Yes, it can work. Or it can break you pretty fast.

    Just musing here...
     
    Last edited: Feb 3, 2022
    Beaver9, Feb 3, 2022
    Beaver9, Feb 3, 2022
    #1
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  3. Feb 3, 2022 #2
    blairandgretchen

    blairandgretchen Road Train Member

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    Dec 9, 2011
    South west Missouri
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    I hear ya.

    I thought 2015 was a tough time to take the plunge leased to a carrier.

    With what I've seen now - rates are not commensurate with the risks involved.
     
    blairandgretchen, Feb 3, 2022
    blairandgretchen, Feb 3, 2022
    #2
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  4. Feb 3, 2022 #3
    Mcast3092

    Mcast3092 Light Load Member

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    Jul 31, 2018
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    To new O/O just know there will be failures. There will be hard times. You’ll only make it if the will to continue no matter what is there.
     
    Last edited: Feb 3, 2022
    Mcast3092, Feb 3, 2022
    Mcast3092, Feb 3, 2022
    #3
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  5. Feb 3, 2022 #4
    Big Road Skateboard

    Big Road Skateboard Road Train Member

    7,074
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    May 2, 2021
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    No business venture is easy. I'm a new O/O with no previous driving or truck owning experience. If I'm doomed to fail let me know, I'd love a long weekend.
     
    Big Road Skateboard, Feb 3, 2022
    Big Road Skateboard, Feb 3, 2022
    #4
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  7. Feb 3, 2022 #5
    Mcast3092

    Mcast3092 Light Load Member

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    Jul 31, 2018
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    You’re not doomed, the road can just get very bumpy. Just hope that your equipment gives you a good six months with no problems. In that time save as much as you possibly can. I would highly recommend getting yourself an account
     
    Mcast3092, Feb 3, 2022
    Mcast3092, Feb 3, 2022
    #5
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  8. Feb 3, 2022 #6
    Big Road Skateboard

    Big Road Skateboard Road Train Member

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    Alas, I was told I'm no account.
     
    Big Road Skateboard, Feb 3, 2022
    Big Road Skateboard, Feb 3, 2022
    #6
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  9. Feb 3, 2022 #7
    Mcast3092

    Mcast3092 Light Load Member

    137
    107
    Jul 31, 2018
    0
    Nothing will sink you faster and harder than getting behind on your taxes
     
    Mcast3092, Feb 3, 2022
    Mcast3092, Feb 3, 2022
    #7
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  10. Feb 3, 2022 #8
    Beaver9

    Beaver9 Heavy Load Member

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    Jun 15, 2020
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    I have seen many O/Os who already established themselves who are happy now. They owned equipment before rates went up. They could sell their old equipment to buy new. Yes, it works for them since they already have the downpayment or even the full amount.
    If I would sell my equipment it would pay off my mortgage. I'm almost done paying off the truck. But I bought mine at old market prices.

    I didn't say everyone is doomed. I said you need to be sure of yourself and finances.
    And yes, there will be some who will succeed. But there will be also ones who drown.
     
    Last edited: Feb 3, 2022
    Beaver9, Feb 3, 2022
    Beaver9, Feb 3, 2022
    #8
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  11. Feb 3, 2022 #9
    Big Road Skateboard

    Big Road Skateboard Road Train Member

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    May 2, 2021
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    Seriously though, folks with the right knowledge will do well with rates half what they are. Those that think that getting into a truck will solve all their financial woes, would still fail if rates doubled.
     
    Big Road Skateboard, Feb 3, 2022
    Big Road Skateboard, Feb 3, 2022
    #9
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  12. Feb 3, 2022 #10
    Last Call

    Last Call Road Train Member

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    45,912
    Mar 15, 2021
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    You'll be fine .. Even though your boss is a Ahole he knows what he is doing ..just listen to him and you will be ok
     
    Last Call, Feb 3, 2022
    Last Call, Feb 3, 2022
    #10
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