Open To Feedback Or Advise, Contemplating Getting First Truck.

I also had all of the equipment; truck, trailer, load locks, computer, printer, and flat bed equipment listed out with complete costs, financing arrangements etc included.

 

MNdriver layed it out really well. The main advice I can give you after ten years of this is don't pay yourself anymore than you absolutely have to in the beginning. Going from company driver to owner you will see some big checks and at times, a lot of money in your account. However, your truck needs that, so don't go on a personal shopping spree to soon. You should have enough money at any given time to buy a motor, transmission, etc. It's hard to get a second loan for repairs and even harder to pay it back. Second thing is fix your truck before it breaks. Constantly look for aging hoses etc. They are cheaper than tow bills. Lastly, give your money to your truck, not uncle sam. A good cpa will help you with this. There will be years that you don't have too many repairs and will be showing more income, but that's not as good as it sounds. Everything is still wearing out, so find something to replace so the money goes to your truck and not to taxes on that extra income. As far as who to drive for, that's a decision for you. How much time do you want to spend building contacts, looking for loads, etc? I have done both and I ended up just running for a small carrier. I gave up a little money just so I don't have to answer the phone on the golf course lol. When you own a successful business, then you have to be available at any time for those shippers you worked so hard to get business from. I prefer to live a little more modestly and with less stress. To each his own, and that's what you have to decide for yourself.

 

MN would you be willing to give a newbie some more direct info? My husband and I are looking to start up a one truck one trailer intrastate (AZ) O/O company with me at the computer and him at the wheel. He's been a small co driver, mostly AZ, for over 15 years and we'd like to work hard, think smart, plan ahead and make our dream come true. I've been trolling the boards for some time and I'm still having trouble putting numbers to things because we're not looking at OTR. Thanks!
Lakes