New Owner Operator needs guidance

Discussion in 'Ask An Owner Operator' started by Nakobi, Mar 21, 2023.

  1. Nakobi

    Nakobi Bobtail Member

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    Hahahahaha….chill
     
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  3. Old Man

    Old Man Road Train Member

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    According to utube you can make big money.
    I believe everything I hear on the internet.
     
  4. dngrous_dime

    dngrous_dime Road Train Member

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    OP, ignore everyone here. I'm sure you'll succeed with no business plan, ZERO knowledge of the industry, and being clueless about the laws, regs, and general knowledge. I think that because you believe and hope hard enough, you'll beat the vastly overwhelming odds and make it a full year without folding and going under. That's how business works, right? Unicorn farts, fairy dust, hopes, dreams, and slave labor of leprechauns.
     
  5. Nakobi

    Nakobi Bobtail Member

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    Thank you for your detailed explanations. I was going to pay the driver through W2. When is comes to ROI, I was projecting to break even in 1 year maximum. From your explanations & from others on this trend I can see I have not set aside enough cash to risk purchasing my first truck likewise having enough knowledge about the business.
    It seems a smarter move will be to go to a training school, get my CDL, drive for someone/company for a while, learn the job practically then gradually work towards getting my own truck.

    Now the issue is that will not be possible because I have an excellent job which I don’t plan on leaving anytime soon. I want to get into trucking as a means to diversify my source of income that is why I started to research more about it. Anyway thanks for all your input, it was very knowledgeable. I will focus to continue to learn more about the business, save more for it until I can come up with a solid and realistic business plan.
     
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  6. Nakobi

    Nakobi Bobtail Member

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    Why do you say it has a red flag? Because it should have accumulated more miles than 389k?
     
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  7. Crude Truckin'

    Crude Truckin' Alien Spacecraft

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    North Dakota, Eh?
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  8. Ridgeline

    Ridgeline Road Train Member

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    This is why ...
    This isn't a car where it sits in a garage, it accumilates in value or it is better because it ages like wine.
    A truck that isn't used a lot causes some issues in the long term. These trucks are meant to be used every day or at least four times a week.
    Rarely I have ever seen a ROI on a start up before the third year.

    Buy real estate and lease it out.

    Seriously this is a business that can have a lot of hands on problem solving, it isn't an arm chair business.
     
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  9. Cat sdp

    Cat sdp . .

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    Lots of white Volvo’s and Cascadia types in trucking now that don’t know what’s going on, one more isn’t gonna matter…..
     
    Last edited: Mar 21, 2023
  10. NH Guy

    NH Guy Medium Load Member

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    389k miles for 2018 truck... most well run trucks would be double that mileage. 2 possibilities for why that would happen. It could have been broken down and in the shop for months on end, that means its either a lemon (yes, it happens the same as with cars) or routine preventative maintaince was done badly or not at all. I could have also been idled to death.
     
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  11. Siinman

    Siinman Road Train Member

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    Kansas City, MO.
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    My 2014 Volvo averaged 20-25K every year for 3 years and had it rebuilt one year. With rates right now I would say stay away off you are not driving the truck and booking the loads. The way you are set up you will most likely lose money every month!
     
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