Questions about being an owner operator.

Hello my name is Dan and I’m a noob to the forums and as my profile says im a WannaBe, but a “maybe” is a better description. I have been self employed in the construction industry for 10 years and have built and run several successful small business, but with the economy my business has dramatically decreased and I’m now forced to start looking at some other options to keep my family afloat through these though times.

With that said I understand that there is no such thing as easy money, but can a guy like me with no driving experience buy a truck and make a decent living? And I think OTR would be a better fit for me, but what do I know.

I have a load of questions, but I thought I’d start with the biggest one first, any advice would be greatly appreciated.

 

http://www.thetruckersreport.com/truckingindustryforum/ask-an-owner-operator/70022-load-boards.html



Happy Reading!

 

LOL yes. There is a lot of good info in these forums you just need a shovel.

 

Well that thread is very particular to your question. It starts with me asking the same question basically until now, complete with financials etc.

No it's not a great time, no it's not advisable, but yes it can be done... with moderate results.

 

Sry Pharm I thought you ment the whole forum in your first post. I just started reading the link you posted, Its just what i was looking for. Thanks!

 

I myself have this thought on the subject. I don't own a truck never have never will unless it's given to me then I will just sell it. But anyways I would think that it's alot more headache than it's worth but thats me.

You have been in business for yourself for 10 years and I know you know the headaches involved with that. I would have to think it's not any better owning your own truck unless it's a pay for unit don't owe anything on it but thats a far fetched dream I would imagine.

I wouldn't want the hassle of worring about break downs, fuel expense, insurance, etc Plus your going to be away from family alot just to make what you where making when in construction. To me that isn't a good trade off. If your going to drive and I know you probally have contacts at local lumber and building supply business's then I would advise get your cdl and drive for them if you can so atleast you will be at home and making a half way decent pay.

Thats just me I push local to everyone I can. Like I said I don't own a truck just giving my thoughts on it. I have seen people who own there own and they age quickly it looks to me.

 

Hello Dan... I spent the weekend with some friends in Northern Minnesota here just a couple weeks ago. While I was at my friends house I had the privilege to meet his neighbors. He had the same situation as you... Spent years in construction & subcontracting... Then with the recent economy turn & construction jobs disappearing, he did the same as you are asking...

He went & purchased a Volvo 770 & a 53' stepdeck, then went OTR with his own authority and no prior experience. I'm guessing he already had his CDL when he was working construction... Anyhow he & I had a good lengthy talk. He knew just as much about the industry as I did, but he researched the whole idea for a several months before he did it.

I have not seen his numbers, so I can only go off from his word. But he seems to be doing OK & growing his new trucking business. In fact he was telling me that he had a date with RDO in Fargo the next morning to make a deal on 2 more Volvo's.

Since you have never owned your own truck, you really don't know the freedom that is involved. Yes, it is a business & yes, I control this business. I have worked both sides... I was company, then O/O, then company, Now O/O again... Being a O/O your not forced to do anything or go anywhere you don't want to do or go.... Your not pushed to run 800 miles over night to deliver a load you just sat hours to load... Your not told to do this or do that...

Selling my truck in 2003 & going back company was a decision I didn't want to make. But a bitter divorce that ended in a lengthy bankruptcy helped encourage that decision. After 5 years of being a company driver, being forced this load & that load.... Then a 63 mph truck got depressing... So depressing that I said the hell with trucking all together... I will honestly tell you that I was suicidal. I couldn't find a local job that would support my family & pay the bills, so 4 months later I was looking back into the trucking industry... Another decision I had to make... Company or go O/O again. After weighing the pros & cons of both.... I decided to buy my own truck. I have control.... I call the shots.... The people I choose works on MY truck.... No more forced nothing.... I take the loads I want.... I go home when I want.... I stay home as long as I want.... I leave home when I want.... No company has control over me.... I now have control....

You have the same hassles whether your O/O or company... The only difference is that O/O pays for the repair.... And a O/O doesn't have to wait for some 20 year old kid to make the authorization call to have the repaired made... A O/O doesn't have to sit in a terminal all day just to get his oil changed... If 1 brake goes bad a O/O will most like replace the brakes on that whole axle versus the company only replacing what is bad then the other side goes bad a day or 2 later, Then you have your company truck in the shop again... A O/O isn't going to sit on the side of the road for 4 hours waiting for a service truck, because a O/O will be making their own calls & arranging their own service truck.... A O/O will not be having a desk jockey telling him that he has to pull over & wait for a service truck because he just blew a recap, nope, he is going to slow down & limp the truck to a service area & eliminate the extraordinary road side service fees...

The extra paper work only takes an additional 30 minutes a day after you learn it & get a routine... 30 minutes less video game time.... O DARN!

edited to add.... And about the fuel.... It's all figured in on my operating costs.... I buy fuel where I want. Flying J, TA, Pilot, Petro, or Mom & Pops down the road.... It's my choice & I get fuel where ever & when ever it conveniences me.

Since Minnesota use to be a state I resided in for more then half my life.... What good local driving job is he going to get that pays his bills & supports his family? I was running a belly dump up there for 2 years at $11.80 a hour. Get laid off in Oct, some times Nov... Then can't start working again Until late April or May (when ever the frost is gone).... 6 Months of working sun up to sun down.... And sometimes long after sundown... Then 6 months of sitting on your butt watching the snow fly & collecting $250.00 a week unemployment....



Dan.....

It can be done... Just do a lot of research & learn as much as possible.

 

Well said REDD. Exactly

(except for limping with re-caps.) Not to sound like some Alla worshiper, but I have 18 virgins!!!!!!

 

I'll get that way eventually.... This truck had recaps when I bought it.... So I'm going to use them, when they blow & will replace with virgin's.

 

Thanks for the encouraging words Redd

I moved to Minnesota a few years ago so my wife and kids could be close to their grand mother. I gladly sold my flooring company in Phoenix thinking that it would be such a relief not having to deal with all of the employees, venders, demanding customers, and struggling to pay the endless bills, all wile waiting for checks from jobs I’d done 60 90 days before.

I thought in Minnesota I’d just get job cash the check and be happy, but I couldn’t. I quit 2 “dream jobs” (in-laws still throwing that in my face) in less than 6 months, I got bored! I couldn’t handle just going to do an average days work and complaining about the boss and my coworkers like everyone else did. I started a demo business here and things when well until commercial construction stopped.

Now I’m faced with doing something else, but any job out there won’t pay enough and I would be totally miserable doing it. Some how I thought about driving and in my mind like everything else I think, if I’m going to do it might as well be for myself.

Pharms thread is very helpful and an interesting saga. The price of the trucks and licensing fees don’t seem to be too bad, but 8k to 12k for insurance just seems absurd. What the hell do you guys keep running into?