Partnering to form owner operator

i would never recommend a partnership. sooner or later one of the 2 (or any more number of partners) will start accusing the other(s) of hiding money, not spending money, not living up to the responsibilities of the partnership, or any other reasons to in effect dissolve a partnership, then the one remaining partner MUST buy out the other or sell off everything.

even with a so-called partnership contract, that spells out EVERYTHING, and an attorney should write that up, failure of the partnership would be imminent.

stay on your own, be a success or failure...on your own......then you only have yourself to pat on the back...or to blame.....

 

It is easier to depensd on myself, thanany ther person I know of, plain and simple.
If a guy sets himself up to where he has to run every day or even week or month, then he has already failed, eventually something will happen that will shut him down.
Get you bills in order before you buy a truck, then work the truck smart. If you can not afford to take a day off for every day you work, you need to revisit your business plan.
I am not saying take off the second day you have the truck, run it and bank money, don't burn yourself out though, plan time off, rates dive sit at home, what ever. I generally take off several months a year. I know lots of drivers that don't even work over 6 or 7 months a year driving a company truck, and still make a good living.

I will agree on part of this, but a guy can pay himself any amount he wants or needs. If he has no bills, or minimal bills and no need or wants to have a bunch of bills he doesn't have to pay himself that much, nor gross all that much either, every bodys situation is different.

One of the biggest things I see oo's do that causes them to fail is the thinking they are makeing the big bucks and thinking it will always be there. Before long they are buying a new pickup, a bigger house, boats, motorcycles, etc etc, then freight slows, rates plunges, can't stay parked now has to run cheap and chase pennies. It seems like I see this happen to most oo's with their first truck for some reason.
Then along comes the repo man.

 

I’ve been in a partnership before. I will never again rest of my remaining days.

Big headache and a lot of grief, relationship ruined, and cost me a lot to buy out their 50%.