Owner Operator Preperation

You are asking all the wrong questions. Everybody's situation is different. It's not about how much you put down or how much you made. Its all about staying above the water not beneath it. For example look into Eagle Logistic threads. Some people fall and others succeed. And that's because some people know how to run a trucking business and others don't or there lazy.

 

Ask your company what a lease cost and bobtail insurance. See if you have to pay cargo insurance. See how much fuel discount they offer. How much do they pay per mile loaded and empty or what percentage. Is there a maintaince plan you pay into. Are you forced dispatch or do you pick your loads. Who covers tolls, scale wieghs, lumpers? Do they take out the payment of you take a week off. Tags cost. Who filed ifta taxes. They pay fhut?

I can tell you with the lease I was looking into I was paying roughly 900 a week in fixed costs before fuel and based on a 2500m week I would be around $2000 in all costs. So I had to make at least 4k in net income to take home at least 1k after my personal maintance plan, taxes, oh crap fund, and every other thing under the sun

 

Another idea is next time you see a owner op who is leading on to them ask to see a bad months numbers. Then add in what you have to pay that he doesnt

 

Ok here we go again..
How much have you saved up?
How much is your monthly bills to live your life, rent /gas/ elc /mobile/ insurance for the house and your private car or cars.
Then your food costs. Total it up and do you have about 6 months of that saved up?
Next how much down payment for trk. do you have.. Oh we don't need up front money, just sign and drive....
Ok how much saved up for repairs.. Don't ever hope they will foot the bill and then do settlement deduction. Nice if it happens, but then you are really in debt to them...
What will the cost per mile to run said unit be, plus your wages..
Can you find a lender outside the company for the funds.. Better off that way.. Remember you mess up they can fire you and if they are toting the note, you just can't take the trk. with you and find a new carrier... Better have a exit plan if something happens

 

I'm still chuckling over that one . . . .

OP, @passingthru69 is SO right, and there are many MANY threads on this forum, where those questions have all been answered NUMEROUS times. Takes money to make money, and becoming an O/O is no exception to that. Good luck, driver~!!

 

I'm glad @passingthru69 said it best..
Again