Should I leave my job to become an owner operator

Discussion in 'Ask An Owner Operator' started by tomuggly, Jan 1, 2022.

  1. tomuggly

    tomuggly Bobtail Member

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    We are comfortable with our salaries now. Just thinking if we could invest my money into a truck and double my salary that would be awesome! But listening to truckers with a lot more experience than me owning their own trucks, it sounds like it's a little far fetched. Expenses right now are really eating into profits is what I'm hearing.

    Thank you for opening my eyes with your insights!
     
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  3. tomuggly

    tomuggly Bobtail Member

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    I didn't realize trucks doubled in price the last 18 months either. Feels like I need to come back in a couple years to see if the market has cooled.
     
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  4. tomuggly

    tomuggly Bobtail Member

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    Sounds like pretty good money.. Only problem with that run is I'm not going to be home every night. That's why my original thought was to buy a day cab so I'll continue coming home every night.
     
  5. Midwest Trucker

    Midwest Trucker Road Train Member

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    Exactly.
     
  6. dchawk81

    dchawk81 Light Load Member

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    You won't double your salary if you're making $1800 now.

    Edit: I probably shouldn't say won't. I suppose it's possible. My personal experience so far doesn't bear that out though, since we're talking day cabs/home daily. I don't have a non-salary significant other who can dispatch me though either. So I guess it might happen. At least while rates are good.
     
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  7. tomuggly

    tomuggly Bobtail Member

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    Detroit, Michigan
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    So you're saying if my wife helped with dispatching we could as a team potentially bring home $3500 a week? You think that's more likely to happen with me OTR, Regional or local? Also is dispatching a full time job for only 1 driver?
     
  8. dchawk81

    dchawk81 Light Load Member

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    I think to maximize your income with a day cab you need someone to find loads and book them and dispatch you while you're busy driving, so you can keep moving. Sitting is the enemy in a day cab, and it takes time to set up with each new broker. They require you to sign contracts, submit insurance, w-9, etc and then you get a rate confirmation to read and sign and send back. Once you're set up with a broker it's easier, but you may never work with the same one twice.

    With a sleeper you can run a one way leg, stop and find something during your 10, and book it yourself.

    With a day cab you can't take a 10 at the end of a one way leg unless you get hotels, which isn't the home daily you want. Everything you do has to be done within that 14. Stopping to book a backhaul takes away precious travel time to get home. If you're doing a live load or unload you can do it then, but lives are unpredictable so it's harder to pick something you know you will actually be able to get.

    Big companies like fuel haulers, contract haulers, and such can get away with it because their routes are predetermined. Spot market is harder because it's random.

    With a sleeper you can stop wherever and if you don't find anything right away, sit tight and wait.
     
    Last edited: Jan 1, 2022
  9. tomuggly

    tomuggly Bobtail Member

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    Ohh okay I got you! Of course thank you for helping me out!
     
  10. asphaltreptile311

    asphaltreptile311 Road Train Member

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    Unless being a oo is your hard held dream , invest that money , index funds , mutual funds , Roth etc . Most owner operators retire with a McDonald's kids meal toy , or wouldn't last 3 months without income. You'll have far more money letting it work for you than being a one man trucking company. That's what iv been doing rather than buying a truck
     
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  11. tomuggly

    tomuggly Bobtail Member

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    Detroit, Michigan
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    Thanks for this advice!

    Lol at the McDonald's comment. I hope that isn't true though!
     
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