So you want to "own " your own company

Discussion in 'Ask An Owner Operator' started by NightWind, Nov 16, 2006.

  1. EZX1100

    EZX1100 Road Train Member

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    this is true

    i have run for the "75%" companies and did decently, as a matter of fact, i did better with them than i did when i ran with the "90%" companies (they got better paying rates)

    and yes, when you do figure that you have grossed $200k for the year and paid out 25% to the company, you begin to wonder the things you could have done with that $50k

    so you go get your own authority
     
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  3. truckinusa

    truckinusa Light Load Member

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    I use to run flatbed and many times we would show up to places where there would be a guy getting a load through a broker (90% of revenue), company lease operator(67%) and company driver(25%). Especially if they deadheaded far, it was pretty easy to figure out who was making money. If you are a one truck owner operator I would bet that you have either a particular broker or a set of brokers that pay well and another another group that will get you back to the ones that pay well again. Maybe you have a dedicated haul out of a company and are their dedicated hauler? I have talked to many "own authority" drivers and they all seem to have a similar situation that was nurtured over years.
     
  4. KenworthGuyNH

    KenworthGuyNH Road Train Member

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    This is no longer true.
     
  5. karma123

    karma123 Light Load Member

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    I don't know if this is relevant,but how much should a reefer cost? I'm getting a deal for 2007 reefer with new carrier for 34k, but my monthly payment is getting up 1000 dollars. I'm getting a 36 month term at 8 percent?
    is this a good deal?
     
  6. EZX1100

    EZX1100 Road Train Member

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    karma

    brand new about $50k
    used about $15-20
     
  7. knuckledragger

    knuckledragger Medium Load Member

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    Does anyone know if a NEW Truck dealer will finance a truck to a recent CDL graduate with no CDL experience? (Though having EXCELLENT credit and a sizable down payment if needed.) Only trucking experience is 7 years driving a straight truck (Non CDL.)

    Does anyone know if there are any companies out there that will hire a recent CDL graduate that owns his own truck, with no CDL experience other than school and 7 years experience driving a straight truck?

    Basically, can a recent CDL graduate bypass being a Company Driver and go straight to being an Owner/Operator?
     
    Last edited: Jun 21, 2014
  8. Battle Born

    Battle Born Heavy Load Member

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    That sounds like the worst idea EVER.
     
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  9. Lady K

    Lady K Road Train Member

    IF you get a bank or any lending agency to take a chance on this idea, your interest rate would be 'shark' high!! But hey, it is YOUR business...
     
  10. G/MAN

    G/MAN Road Train Member

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    It is a bad idea to buy a new truck without any experience, even if you can manage to get it financed. You could pay cash for a good used truck if you have enough of a down payment to buy new. Most lenders want to see at least 6 months to 2 years of driving experience before making a loan, even with good credit. They will also likely want to see a copy of a letter of intent to lease to a carrier or an actual lease. I don't know of any carriers who would lease to an inexperienced driver. Most want to see at least 6 months experience as a company driver before offering you a lease. A new truck can cost $150,000 or more. It is a very bad idea to make such a large purchase without first having some experience. There have been a few who have purchased a truck and gotten their own authority without first having some driving experience. But, you will need a truck and trailer if you run your own authority. It will be an expensive learning curve. I don't know any of them who bought new when they first started out. It is much easier and less costly to learn on someone else dime. Once you get a couple of years under your belt, your options will be greatly enhanced.
     
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