Owner Operator, no experiance.

Well you and I are pretty well on the same page there

 

Can you go buy a truck and lease onto a company ?
Yes.
Should you buy a truck and then try to lease onto a company ?
No .
Has anyone done it this way before ?
Yes .
Did they make it ?
Yes.
Was it easy ?
No.
Would I do it this way today like I did 37 years ago ?
NO.
Would I tell somebody that has never been around trucks or machinery to do it this way ?
NO.
Should do it this way if you know nothing about mechanical repairs ?
No.
The chance of failure is so high today that even guys that have trucked for years are going under .
There is so much more to trucking that I could not even scratch the surface with a month of one on one time .

Trucking is a harsh mistress and she loves to kick you when your down .

Good luck with whatever you decide to do .

 

I respect your enthusiasm but I really feel it would be best for you to get a couple years experience as a company driver first.

There are so many pitfalls out there for an owner op. Company driving would give you a safe opportunity to learn some of the ins and outs of this industry.

I wish you the best of luck in all you do. This can be a very rewarding career if you play your cards right. Please heed the advice of more experienced drivers.

 

I just went through this ENTIRE process this past few months. I have written more checks in the last 60 days than I have in the last 60 MONTHS. This is a breakdown of my expenses so far:

Truck (2002 KW w/ fresh 6NZ) - $40000
Flight to get truck - $500
Diesel to get truck home - $600
Local sales tax on truck - $1300
Repairs / Upgrades to truck - $28000
Authority One-Stop Shopping (thru OOIDA) - $900
Drug consortium registration - $200
IRP / IFTA - $300 (and plate renews in April)
Insurance - $24120 (payable 50% dn / balance due in 30 days)
Elog & Back office software - $800 (including y-harness & self-installation)
DAT MembersEdge Loadboard membership - $90 / mo
Incorporation Expenses - $1000

Then......
Misc. Truck Stuff: $10000
(computer, gps, printer, scanner, new seats, new inverter, new batteries, dash cam, headache rack, chains, straps, corner protection, tarps, cooler, new mattress, hotspot thru AT&T, new antennas, DOT inspection, logo design & vinyl lettering for name / logo / #'s, etc......)

Home Office Stuff: $2500
(computer, two folding tables, filing cabinets, printer, paper & other misc. office supplies)

AND to top it all off.....
1) have to keep 60 days of operating capital liquid - until the checks start coming in
2) still have not bought a trailer - gonna have to rent for now to keep cash reserves for operating costs
3) STRESS. Butthole puckers a lil tighter every time I write a check or sign my name

I say all this not to create fear or make it seem overwhelming.... but there's DEFINITLY more to it than "Buy a truck - Collect a check". Each hurdle leads to the next. I CHOSE to not hedge my bets on newer EGR/DEF outfitted equipment so I am basically rebuilding an older truck to "new" BEFORE I hit the road. I want to know what I have and who I can count on BEFORE I go into revenue service.

All the planning in the world is not going to account for every possible scenario, and the above list is abbreviated and in no way meant to be complete.

There will be SOMETHING that pops up. That something could be a business-killer before you even get started. Don't be the guy that is one $15000 major repair bill from being bankrupt.

I've invested over a YEAR into research, talking to brokers / drivers / owner ops / banks / mechanics / etc. Shoot, just the record-keeping mandates can make your head swim. My advice is to give yourself the BEST possible foundation that you can build on. Be sure-footed, be stable, make informed decisions, ask other people how / why - then VERIFY that information independently, talk to a good accountant AND a good attorney and keep their numbers handy, and for the love of all that is holy - DONT HAUL CHEAP FREIGHT JUST BECAUSE YOURE ITCHING TO RECOUP SOME QUICK CASH.

My two cents (for what they are worth).....

 

Here's my take after 2 plus years as an owner operator running under my own authority, doing everything except turn my own wrenches.

As a one man dog and pony show, you're NOT going to get rich in this industry.

In fact, the risks are so high and the numbers (rates) are so tightly controlled by the big 3PL's and the sources they service, the likelihood of failure is very high.

The margins are just too tight...

At best, one can make a decent living, or as some put it, "buy yourself a job."

It takes a certain mindset and overall perspective to do this.

There are different factors as to why those of us do this, however, I can assure everyone, the underlying principles are the same.

All things being relatively equal, I can never envision myself going back to work for someone else.

If you don't get it, then me trying to explain "it" to you, would do no good

 

Yea it's simply not having to deal with a
Boss of any sort for me I'm usually not an ####### to myself so it works

 

And let me add, the reality is that most small businesses (of any kind) are not highly profitable.

They're just not...

Sorry if I've popped any "I'm gonna get rich running my own business" bubbles out there

 

Good luck getting someone to insure you with 0 experience. No decent place will let you lease on with 0 experience.

 

Like with own authority? Gonna be hard to get insured and finance a truck through bank. You should definitely consider being a company driver for at least a year you don't know anything at this point

 

I am also agents failure. You are correct the failure rate is 65% but understand this not every one that drives a truck should own one. This is a business and must be treated as such. There are hundreds of reasons for failure as you say but there are also hundreds of successes. The OP wanting to get a truck right from the start of not a wise decision as I stated before, but 2-3 years down the line maybe.

Sorry that your out of the truck that sucks, but it sounds like your successful in your business, why can't others?