OO or stay with company?

Discussion in 'Ask An Owner Operator' started by Kingty9183, Jul 20, 2019.

  1. Kingty9183

    Kingty9183 Bobtail Member

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    Just wondering is there real money in going owner operator or is it better to stay with a company. And I'm pretty green so how does owner operator work? I know you own or lease the truck but how do u set up loads to be picked up and how do u negotiate the price?
     
  2. DTP

    DTP Road Train Member

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    If you have all these questions, stay a company driver
     
    Guf, homeskillet, pavrom and 8 others Thank this.
  3. stayinback

    stayinback Road Train Member

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    The Industry isn't looking for owner operators right now.
     
  4. ZVar

    ZVar Road Train Member

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    Once you can answer those questions and have 20k-30k in the bank you can start thinking about being an o/o
     
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  5. Zigzag777

    Zigzag777 Medium Load Member

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    I agree with the previous replies.
    BUT
    The one thing that might open up is cheaper used trucks, as everyone is bailing out, due to low freight rates and too many trucks, chasing too few miles. Sometimes in a panic situation you might be able to buy more truck for your money than 6 months or a year ago. Everyone was out buying trucks and that pushed up used truck prices.
    Although I don’t think you’re ready by the questions you asked. But if you got money in the bank that’s laying around doing nothing, you might start searching. Some have succeeded with less experience than you have, but it’s rare. Tough business no matter how you slice it. Good luck and don’t quit your driving job too soon!!!!!
     
  6. LondRanger

    LondRanger Heavy Load Member

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    You would need 100k in the bank if you dont want to go in debt.

    I did it last year and that’s what it cost me.

    It took me a while to figure it out in that time i was burning through cash on diesel, repairs and other expenses.


    It’s not worth it if you are new to the industry.

    Also owner operators take up to 3-5 years of working the load boards like dat and turckstop to find good brokers. Until then you will be the small fry with the ####tiest loads for the first year.
     
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  7. "semi" retired

    "semi" retired Road Train Member

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    Well, it can be done. What I did, after being a company driver for 15 years, I bought a truck,and leased it to a "power only" outfit and pulled rail wagons that the company set up. I paid for the plate ( weekly takeouts)had to have bobtail ins. and do my own taxes ( 1099) but he paid the rest. I never looked for my own loads, fact is, it was part of the lease, I couldn't say, empty out a rail can, and haul something on my own, it was forbidden, although, I knew of guys that did it anyway. Unless you're handy, repairs will kill you, and ins. will kill the rest. The days of being a full O/O, looking for loads with dad's old cabover are about done, big companies haul everything dirt cheap, and O/O's today get what's left over, and it isn't much. Depending on your co. job, just about every O/O today would probably like a co. job, but are in over their head to get out, and good luck selling a used truck. It's a lot easier getting into it, than getting out, trust me.
     
  8. Bakerman

    Bakerman Road Train Member

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    Try and get a lease purchase with the mega carrier, the payments are only about $3000 a week!
    It’s a win-win.
     
  9. stuckinthemud

    stuckinthemud Light Load Member

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    There are several helpful threads on this forum , for an aspiring owner/operator
    Double Yellow's Company Driver to Independent Thread
    This is just one of them.
     
  10. eightballwoody

    eightballwoody Light Load Member

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    It frustrates me to know end to read these boards. There is so much negativity. Somebody comes on here with a genuine question. The sarcasm is overwhelming. It’s like people have nothing better to do. I understand constructive criticism. But why berate somebody when they are asking honest questions.
     
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