Good morning everyone I have a few questions for you all;
1. Starting my business with 2015 freighliner 500k miles and hoping to run 3000 miles a week.
2. What are the chances of me averaging $2.00 a load during this time?
3. Has anyone seen a decrease in Load boards due to non-essential items?
4. What are your average plates running? Pros and Cons of owning your own plates?
5. What is your favorite Business Credit card to use for UN-forseen expenses on the road.
6. Whats your favorite company to go haul for with experience requirements?
7. Whats your average maintenance account savings per week? i'm thinking $400 a week
8. Whats your average insurance costs per week? with your company?
9. Considering getting my own Authority? Pros and Cons please.
Please keep in mind I don't have truck payments. Thank you for all your help.
Owner Operator here no debt
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In b4 they tell you not to chase miles
FWIW I will be in your shoes soon enough, no debt, money in the bank. God willing the economy permitting. I’d have plunged in already but I was holding back because we were due to have a recession, I was scurred to commit. Then the virus hit. What has kept me in the hunt is the possibility of buying a cheaper truck. But it’ll have to be substantially cheaper to be enough to weather what’s about to happenLast edited: Apr 10, 2020
1. Possible and feasible.
2. At this time difficult for loaded miles, especially on long hauls.
3. Generally there is nothing else but decrease at present time.
4. I pay for mine about $2000. You are an owner, you should have your plates. If you use someone else's plates then you are pseudo-owner as someone else has control over your equipment.
5. Any.... with the least APR and the highest balance. I am using Chase INK and Capital SPARK business.
6. I don't know...I am independent. Others will tell you.
7. Build up reserves for at least 15-20K and try not to go below that, especially with the truck of yours. The sooner the better. As matter of fact. I would not want to start without such reserves.
8. Insurance is different for someone who is leased on to another carrier and for an independent o/o.
9. too broad ... others will tell you
10. Even though you have no truck payments, your truck can be liability. Be prepared for many unpleasant break downs. You need that cash reserve for maintenance.
IMHO.. in this economical 'downturn' and 'unrest' ... were I you's guys, I would LEASE on to .. somebody. Not allowed to recommend on here, but do your due diligence, and read.
Reefer? (<< good money, sporadically right now...) Tanks? (always busy, but..overproduction of milk... cows don't quit...) Flatbed? (Couldn't tell you, wasn't my forte, but I'll get ya somebody that can...@TripleSix ?) Heavy Haul?!? (<< SAME.) Dry vans? (I haul cardboard and paper products, so I'm good ...and should be for a good while.)
AND .. how much experience do y'all even HAVE driving, at all? Few years in.. .company side?!?
I almost mortgaged my farm.../home/acreage to buy a Pete ..but my buddy only wanted to sell the 'fleet' ... (of five.) Coulda, woulda, shoulda? I'll never know.
Think long and hard. Straight up authority will skyrocket your insurance, and the market (boards) are bleak....but for specialties. New numbers... are ... just THAT.
BEST OF LUCK.... I'll follow this thread, anyway!
ps: If my 'tag' didn't work, look up @TripleSix and MANY other great guys/gals on here.
psps: @Chinatown is a wealth of information; he's our 'TTR guru,' regarding companies.Last edited: Apr 10, 2020
Reason for edit: added ps's
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