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

    Aug 18, 2012
    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

    Apr 1, 2009
    Ponca City, OK
    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

    Dec 11, 2011
    Central, NH
    This is no longer true.
  5. karma123

    karma123 Light Load Member

    May 19, 2014
    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

    Aug 18, 2012

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

    knuckledragger Medium Load Member

    Jun 7, 2014
    Everett, WA
    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

    Feb 26, 2014
    Scandia, Mn
    That sounds like the worst idea EVER.
    whoopNride and Lady K Thank this.
  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

    Sep 3, 2010

    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.
    knuckledragger Thanks this.
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