So you want to "own " your own company

Alright - a response!!! I do appreciate it very much!

I don't know how to convince you of this, but for the amount of money involved, I would not treat this as a 'hobby'. If I came across that way, I apologize. Honestly, I'm just throwing my ideas out there, and only a fool would ask for advice and not take it after he asks for it!!! I don't know what I don't know (if that makes sense), and even though I've been lurking, only by engaging you good folks and asking the questions (wise old man once told me 'asking is free') will I be able to get a grip on this whole thing. So this is all good stuff...

Ok, if I am interpreting what you're telling me, in order for something along the lines of what I laid out in my original post to work, I would have to run on my own authority initially. Leasing on would require me to have experience, of which I have absolutely zero. Gotcha.

I have been lurking, and yes, I realize that this business is a constant struggle. If you're going to be good at anything, you had better work hard, get smart on what it is you do, work hard some more, and sometimes have a bit of luck too.

I haven't had much handed to me in life, and I don't expect anything to be handed to me. I definately don't have the entitlement mentality that has swept across a lot of our country and brainwashed some people into believe that they deserve this that or the other.

I've had some awesome mentors and lots of HELP along the way, but it's kind of like the golden rule or karma or whatever - once I was in a position to help others in my other professions, I also have. One good turn deserves another.

And THAT is why I am here, and even bothered to post in the first place - the responses I saw in Broncrider's thread were very encouraging, and though he and I are starting at two different places (he had practical experience before setting out as an O/O), I see a passion in him for this business that I have had for a long time but never thought of acting on until now.

Fair enough. My primary profession is a highly regulated industry as well, and again, I am no stranger to hard work and studying. I'm pretty quick when it comes to learning how to operate machinery. That being said, I take nothing for granted, and am very interested in 'being a sponge' and learning as much as possible when I do attend a school.

Where would this country be without a few dreamers now and again? I think being a bit of a dreamer is part of the American spirit. Glad to hear you are blessed to have a very patient woman at your side - it's actually quite a blessing that you realize she IS a blessing!

Honestly, I missed your thread - I will check it out right after I click submit on this message.

I also understand 'living the dream'; I'm doing that with my primary occupation. Perhaps most of the people who read my initial post in this thread think, 'Oh, here we go, another one who thinks this is easy, anyone can do it, etc.' Or, they might say, 'Well, if he's says he's good at whatever else he does, maybe it should stick with that.'

Well, maybe I should.

However, there's this guy I know. And until about 10 years ago, he also had another primary profession. He STILL has that primary profession, but he also runs under his own authority, and is actually up to two rigs now.

If he can do it, I can do it. Heck, I only want to run one rig!

He has been giving me some good advice, but I always like to hear more. So that's another reason I'm here.

Yeah, I was afraid of that. I guess I did mention 'family vacation' in there.

Do any other drivers out there ever take their families out during the summers? Is there anything wrong with that?

I don't know how to convince anyone on here that I'm serious about this other than to be me, be honest, and ask questions. I guess in this case I may not be able to convince anyone. I'll continue lurking, and try to glean as much as I can that way. Maybe in a year or two or three I'll post again to say, 'Hey, Steve & Lo was absolutely right!' I'd much rather be able to post and say, 'Guess what, guys, I did a lot of research, a lot of hard work, bought the truck, etc........and I found a niche and it's working out great!'

Not harsh at all. You sound like a very down-to-earth person, you speak from experience, you sound honest, and I appreciate that more than you can ever know!

I can't quit the other jobs, because they are what would allow me to have the least risk entering into this business in the first place. I may be able to rearrange my schedules at both to better accomodate, as you put it, 'part-time' trucking. My primary profession would allow me to do the books, look for loads, etc., even while I am on the road with it - thereby allowing me to be less of a 'part-time' trucker and more of a full time one, if that makes any sense. The other job isn't a job at all but a duty that is an honor and a privilege; and Uncle Sam owns me for the next four years at a minimum!

Once again, I thank you very much for your response. I guess I'll continue to lurk some more, and see what nuggets of good information I can find on here.

Drive safe!

W2W

 

the main problems i see you having are gettin insurance, findin frieght and making enuff to keep runnin and keep the lights on at home.....same things we all are dealin with

whoa partner.....put a hobble on that pony

if yer taking things seriously out of my thread, be carefull, im still in the dark about alot of things......o and im 35 living in my parents basement on my new 'puter drinkin mt dew and punching the clown......LOL

if yer serious about it, do it, but beware you will be in for a long hard road

why not just lease on to yer buddy? save yerself that money for now.....

buy a KW and a skateboard.....learn to use it, learn the frieght lanes and run hard but legal, at all times

as a part time gig though.....i dont see it working....lol i only do it part time and im broke!!!!

 

Thanks for the noggin's up Bronc. I really have enjoyed reading your thread, now I'm looking at Steve & Lo's thread.

Lotsa people here with great experience, I'm getting the feeling that my original plan may not pan out, but who knows. If I wind up with the tractor anyhow, I may see about getting my own authority - I will probably wait and see a little longer than initially expected.

Would love to sign on with my buddy, I'm all for getting real world experience with an old hand first. Only problem is he's about 1,000 miles away as the crow flies.

If this still does happen, I think I'd want to start out with a reefer so I could haul van or refrigerated loads. Work on getting a flatbed after I get some experience - don't want to bite off more than I can chew, and I've got a mouth full now!

Thanks again for the words guys - y'all be safe out there.

 

But its a lifestyle...... Sunsets, Sunrises, pee jugs, lizards, D.O.T., shippers, receivers etc...............

 

OK, here goes my 2 cents....
First you will find it next to impossible to get very far out here as far as freight, insurance etc. goes without any experience. I know as I have been trucking on and off for 10 years and have returned to it because I missed it... Even shippers/brokers want to see some experience before they will sign you. Be prepared to dump a butt load of cash out to get a fair start as an O/O with your own authority. I just started out that way and I have 180K out right now (130K is in equipment, repairs etc and the rest is all start up costs, insurances, taxes, tags, permits... cash in the bank so I don't have to factor etc.) and it is tuff. Now my money out is my money, I refuse to factor as 3% to 7% is highway robbery specially if they don't get paid, they take the money they gave you back... it is a win win for factoring companies as they assume 0 risk and get to collect no matter what, so if you don't have the capital to wait out your accounts payable term for at least 60 days, stay away till the freight value comes up. Freight in the NE sucks big time right now.There are loads to run but they barely pay enough to cover the price of fuel. There are tools out there that will run for nothing but this cowboy won't. Also you have to contend with the perpetual a55hole mentality that pretty much effects everyone that lives in the NE. Since you are from there you know what I am talking about if you have ever traveled west and discovered what hospitality means. I have to agree with Steve and Lo (minus the Lo right now) with the respect of getting some experience with a carrier. That should be your number one priority. You will find out first hand if this is for you without expensing your hard earned money to find out later you will loose your investment if you decide to bail. As said before we will only take you serious if you take this serious. This is not a hobby for us as it is our life, all aspects of it. I cannot afford to fail and I certainly do not want to compete against a bunch of fair weather foe's either. (no offense) This is first a business, second a job and third a means to my families well being. There are also a bunch of doom and gloomers out there, go hang out at a truck stop one evening and listen to what is being said. I am an eternal optimist as well asI think you will find most of us out here running our own business will be. When the point comes that you are not then you are soon to be out of business because at that time you quit trying.

 

Your post was one of the most informative and helpful pieces on trucking that I have read, thank you.
Due to my wifes family circumstances we are relocating from Vancouver Washington to east Texas next month. I have had a CDL for 17 years but have not driven OTR since 1996 and drove P/T local till 2006. I have been in a very good union job since 1996 but am unable to transfer that to our new location. At 43 my CDL has always been my back up plan, now that it has time to use that I am putting applications out to do company driving so I can get recent OTR experiance and then plan to purchase a truck. Any thoughts on companies or types of trailers ie: reefer, flat bed etc... to work for or look at and would be the best to prepare me for taking the leap to O/O.
When the times comes I will be incorporating advice from the experianced O/O who respond along with information contained in the previous post into my business plan and operating strategy.
Thanks to everyone for your for your time and responses.

 

heard this has changed. In that you only owe 2290 fees from the day you purchased a/the tractor. I hope this is true, as I'm on the verge of buying a tractor for myself.

 

I have 3 yrs otr exp and i'm seriously thinking about becoming a lease operator. Are the qualifications different then a company driver since the lease operators have to pay for their own insurance? I figure if all these other owner operators can do it and still make a profit then why can't I.Also what would be a good company to look into about leasing a truck? Any helpful info would be greatly appreciated. Thank you Patty

 

hey men first thanks for that information, i just posted a requestion for infor on this web site befor i ran into this detailed more than pleasing write up, my question to u is that can i fill all this paper work on my own without the help of some one who have been doing it cause i walked into an office in oklahoma and they request a consultant/filling fee of $1000 dollar while i pay the neccesary authority / office what ever the application fee is. can i fill all this on my own going with the step listed.

thanks

 

Hello....
Thanks for that topic ...it's very helpful
I am going to open truck company....
I got couple questions.
What is the best and reliable truck for OTR? Reefers? How I can find out god broker?
Thanks for all information....
I am going to start in two month