So you want to "own " your own company

I was required to complete this short class for my SBA Microloan.

http://mncore.com/are-you-ready/

Rather important topics.

 

While this is a true statement, there is an aspect here you are forgetting.

If a truck does NOT have an APU, then that means that the engine will have HIGH idle time. This is a serious maintenance point as an hour of idle time is like running 50 miles.

 

One thing I don't see a lot mentioned here or in a lot of topics about becoming an O/O.

Are YOU personally ready for this?

If you think you've had some stress in your life. It's not even beginning. This past month has been more trying to me personally than I have had in a while. The last time I had this much stress was 10 years ago when I started my first business. But this one much more so. 10 years ago, it was a more intellectual business. I needed a computer I already had. So no real start up issues.

This time is some real cash lay-out. $50,000 is a LOT of money suddenly to be focusing on when you are normally dealing with less than $5,000. Especially when it comes out of YOUR pocket this time.

http://mncore.com/are-you-ready/



I put this in here because it's the first time I have had someone actually make it a point to bring the topic up. Specifically at 4:00 minutes.

 

I am new to the trucking business I'm currently in school. Lets say I become a owner operator how do i find loads. is it easy to get loads or does it become a headache. thanks i really appreciate any info given.

 

Finding them is really easy. Finding good paying ones is tough. Just have to work at it, like everything else.

For right now, just worry about getting some seat time behind the wheel. As you become better at it, you'll learn more and more about the logistics side of the business.

 

When you lease to a carrier they usually have dispatchers who work to keep you loaded. Some have agents that are much like freight brokers, but only work with company or owner operator trucks. If you get your own authority then it will be entirely up to you to find and book your own loads. You can work with brokers or shippers direct in order to find good paying loads. It can be a headache finding the better paying loads. It get easier with time. At this stage, you need to learn as much as you can, if you plan on buying your own truck later.

 

Originally Posted by tone215
I am new to the trucking business I'm currently in school. Lets say I become a owner operator how do i find loads. is it easy to get loads or does it become a headache. thanks i really appreciate any info given.




I see you are near Phila,PA..(aka the worst freight area in the NE..)...but don't fret..there are ways to get loaded in Philadelphia...
even though most rates are the lowest in the country...

....I could lend some input as to becoming an O/O...I was in your situation in the past...

crusin

 

Anyone know if Schneider 1 yr lease option is good for someone new to trucking and wants his own truck and control?

 

If you want to be a successful owner operator you need to spend a couple of years as a company driver and learn as much as you possibly can about this business. Signing a lease purchase with a carrier is no guarantee of success, especially as a new driver. Too many see leasing as a fast way to avoid the pain and discipline of saving and learning about this industry. Very few lease operators become successful. Most will never own the truck on which they are making payments. I would not make payments on a truck that I would never own. It doesn't make good business sense. Most lease operators do good to get driver's wages after everything is paid. Until you work in this industry for a while, you don't even know if you will like this industry. From the beginning, you need to save something out of every paycheck. I would suggest committing to either a percentage or a flat rate that you will save out of your checks. You don't need to lease or buy a truck without having money saved. When you lease a truck you are responsible for all costs involved in running that truck. The main difference between leasing a truck and buying are two fold. First, you eventually own the truck if you buy. Leasing is just throwing money away. You make the payments, someone else keeps the title. Buying enables you to pay a much lower payment than leasing. Some leases charge as much as $800/week or more by the time all charges are paid. You can buy a nice used truck for a monthly payment of as much or less than one weekly lease payment. When you lease a truck from a carrier, you are usually prohibited from taking the truck to another carrier until the truck is paid for in full, providing you have that provision in your lease agreement. If you buy the truck you can take it anywhere you want.

 

Finally I have my new used truck!!It took me about 9 months to find the right truck and then about a month to get it home. I was going to finance but decided not to so I went with a older truck 03 KW W900L.It needs some work but I wasn't a mechanic for 10 years for nothing!!I know people on hear say don't buy a truck unless you have enough money for everything else (insurance,permits,fuel etc.)but I put all my chips in and went for it.I couldn't pass this truck up it was to good a deal!!!So now this is where I'm at im a company driver right now i have plenty of credit.I applied for my mc and dot#s myself and just waiting so I can drive interstate.when I'm home I work on the truck new brakes all around,new cab lights,painting the engine,frame,and a couple new tires and the truck will be ready to haul.Im positive that I'm going to make it through these first couple months just because I have no payments on the truck.Im looking to lease a flatbed so if anybody know any cheap rates the info is appreciated!!!Also did I read that being a member of OOIDA they will file boc-3 and be your process agent??For all the guys on hear the help us newbies out with info Thanks a million!!!