Owner Operator here no debt

1A. Last week my furthest load was 92 miles, I hauled 13 loads, deadheaded back for another hauling between 80-92 miles.
Gross $5200.
With your truck and trailer it’s how much, not just how far.

2A. Depends on freight area you run
Midwest/South vs Florida or Cali right now.

3A. Not where I been hauling.

4A. $1750/year.
Yours are yours, companies if you leave you gotta give them back and get new ones, and if time is left on the company ones, they’ll prorate unused time, when the reissue to another truck.

5A. I have capital one spark, good credit and D&B number they’ll start around $15000 credit line

6A Hard decision

7A I have my money paid to my company’s bank account,
Then every Friday I pay myself, everything the truck needs comes out of company funds.

8A.company’s insurance all totaled Occupational,bobtail, general liability then throw in primary liability around $170-$190/week so expect $9000-9500 or so a year depending on state and where you park on hometime.

9A 30-45 day start up, a ton of paperwork to get started, checking yourself out as if you were an unknown person applying to drive for you.

200 +/- calls wanting you to use them for insurance, Check your application for DOT# and another 100+/- emails wanting the same.
About 50ish texts if you use a company cell number.

Pros!!!
Your name is on the truck, you make 100% or maybe 92% [some brokers charge 8%]
You pick your freight and go where you want.
Are you ready??

 

No worries . You will get it .

 

But out of that 25-35% they have the drug/alcohol testing (around $180/year)
1 million primary liability(up to 5 million if you haul hazmat) and you won’t wait 30-60 days on your money.
I been lucky and hauled for a ton of people, some even with LS, but I had hauled there before working at LS.
I am pulling their trailer for nothing and hauling their freight.
Everyone’s situation is different.

 

Currently, with the supply of trucks available brokers are moving 2.40 per mile loads for 1.20. When things get slow, the load board game is brutal.

You do the math! Maybe that 25 - 30% the company keeps is not so bad after all if they have good contract freight.

 

I was with Landstar, I have nothing bad to say about them as a company, you just gotta find good agents to work with

 

Wait a few months. We’re in the midst of the largest herd thinning of this century so far. See what shakes out.

 

It is THE BEST time to buy good cash equipment and THE WORST time to operate it.

I suggest you stay wherever you earn your money now, and get your equipment home, repaired and paid off. Even if it takes 2 years before you put it into service, all of the expenses incurred can be depreciated against your future earnings with it so save all receipts. Buy new tires last since the carcass can only be recapped until 5 yrs old and good american carcasses have a core value .. No sense buying rubber to let it sit and dryrot or expire the carcass date.

Right now $2 a mile consistently will be very hard unless you are getting your freight from a seasoned source. Usually you need to lease on to get into good freight. Starting out on the open market [load boards] isna case of sifting the bottom of a fryolator looking for good things to eat.

In a famine no food hits the garbage. Well freight is in a famine and a load board is a dumpster. Its where the extras and unwanteds go. All are hungry now. Your time now would be much much better spent getting equipment, bringing it up to snuff and finding/developing dedicated freight. Only when you HAVE the freight should you put an MC on your truck. If its gonna last a million miles, why use them up at $1.70 when you can wait and save your equipment for $2.25? If you dont HAVE to run now, WAIT and SAVE!

Youre asking the right questions and will do fine. But go ahead and call progressive for a 48 state common carrier policy on new authority. Be ready to hear $18k. Much more efficient to lease into a company that can provide good insurance and good freight even if for a high sounding fee.