So you want to "own " your own company

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

  1. Mr. PlumCrazy

    Mr. PlumCrazy Road Train Member

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    Jul 30, 2009
    Lexington NC
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    I'll tell you this and its not from experience I am in the same boat have my truck picked out dealer has put it in the back of lot locked it up and just waiting on one more phone call. I have been researching for a year now on this board and others going to the truck stop buying drivers dinner talking to o/o that live in the neighborhood not to include 23 years as a company driver. It is tough out there and if you haven't done your researched you will be doomed before you start. You have to make a plan and stick to it and if you plan right you will go deep in the hole starting out and if you don't know what you are doing you will never get out. to start you going to go in the hole $15k to $25k depending on how much you put down on a truck. and for 6 month you wont make a profit in it you will be working on getting back money you are in the hole with. Now during them 6 months if you have to buy tires or have a break down its gonna set you back another couple months. Being an o/o is not easy you not just a drive anymore. but you are a ceo of your own company you have to be business mined. You can for get about getting a lot of sleep during your 10 hour break you will be looking for your next load you have to work your way to the top and before driver will let you into their network of high paying freight you have to earn their respect and trust there is some high paying freight but off the bat it will be hard getting it to many drivers have already cut other drivers throat under cutting freight contacts so trust and respect goes a long way in this business its a dog eat dog world out there. There is a lot of o/o running around my little town making real good money and home at night but they wont give up their contacts. Good luck with your endeavor, keep you ears open and research

    By the way any Landstar drivers gonna be in the area and have time I would enjoy chatting breakfast, lunch or dinner on me
     
    newly crusin Thanks this.
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  3. newly crusin

    newly crusin Medium Load Member

    Hwypilot,

    are you out here?

    I don't have enough post's to PM you, I have a question about a truck similar to yours. Narrowed my truck search down to four trucks, but I have found 2 other Kenworths two days ago w/low mileage and they are priced right for 4 year old trucks,Might reconsider the purchase.

    thanks,

    crusin
     
  4. slabrunner

    slabrunner Light Load Member

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    Jan 17, 2010
    Muskegon, MI
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    don't have enough post's

    I thought all you needed was 50?
     
  5. newly crusin

    newly crusin Medium Load Member

    Yes , my mistake, it was settings on my browser not allowing me to access to post.it's fixed now,thanks.

    crusin

     
  6. Milan Aden

    Milan Aden Bobtail Member

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    Mar 13, 2010
    chicago, il
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    Hey guys I'm looking to be an owner operator and i was willed some cash from a dead relative and I want it to be put to good use I like my grandpa wanted me to. but b4 I jump off into my grandpa told me that I will need to no my revenue per mile and stuff. So what is revenue per mile and how do i figure it out? :biggrin_2551:
     
  7. Longhood379

    Longhood379 Medium Load Member

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    Nov 30, 2009
    Cremona AB
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    How much money your truck/ trailer generates on average per mile traveled
    The old school way was to figure your fuel cost per mile and multiply it by three for long haul 1/3 fuel 1/3 for operator 1/3 for truck payment ,insurance expenses.
    Make sure even it you own the truck outright to keep enough money aside to make payments on a truck of equall value. If you can't do simple repairs and keep a truck maintained don't waste your money. Do your home work if you can get into something otherpeople don't do or don't want to do there is more money. If you are driving for someone else now keeptrack of every thing , and try to find out what the loads pay there is a lot to be learned this way.
     
  8. Pawnd

    Pawnd Medium Load Member

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    Apr 8, 2009
    Chasing wind
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    Take that money and use it for an education.

    Trucking has always been a business of thin margins. It is even thinner now.

    The revenue per mile changes depending on the number of miles you can run. If you can run 4000, it can be much lower than if you are running 2000. So, you could be averaging $1.80 per mile and go broke, and get $1.05 and make money.
     
  9. americantrucker01

    americantrucker01 PLAGIARIZER - Banned

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    Mar 13, 2010
    mid-west
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    Awsome nightwind. I seen this post b-4 but still great reading.
     
  10. americantrucker01

    americantrucker01 PLAGIARIZER - Banned

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    Mar 13, 2010
    mid-west
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    you hit it about right i tell alot of my students when first starting stay away from owning your own rig..
     
  11. biermann58

    biermann58 Light Load Member

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    Oct 5, 2009
    Amboy, WA
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    Easy for you to say...you have 2 angels looking over you.
     
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