Team owner operator

Discussion in 'Ask An Owner Operator' started by TaylorMade407, Aug 1, 2013.

  1. TaylorMade407

    TaylorMade407 Road Train Member

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    Orlando,FL
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    If this question has been asked already post a link and I apologize. But I've yet to find an answer.


    My question is are their any team owner operators out there who are splitting everything down the middle? Revenue, expenses etc.... Are you guys successfully operating being that the truck is always rolling? The reason for me asking is because me and my cousin were thinking about buying a truck and leasing on with a company. If any of you are making it the who are you leased to and are you picking your own loads and choose where you wanna run.

    A little info on me and my cousin. We've both been driving for four years. We have 20 grand towards getting started in buying a truck and getting started. My next question is how much should we put down on a $40k-$60k truck and what should we keep for any surprise maintenance or truck repair. Thanks for all input.
     
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  3. SimD

    SimD Light Load Member

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    Dec 23, 2012
    dallas, tx
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    Leasing is stupidddddddd don't don't do it. Get your own authority its only like $200.00. And yes we are successfull as team o/o And yes we spilt everything down the middle. The down payment depends on your credit. And don't have the dealer do a loan. Go to a credit union bank get a loan from them. And just my 2 cents don't go out and buy fancy expensive truck. Buy something the right price that looks good and runs good.
     
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  4. fireba11

    fireba11 Heavy Load Member

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    Tracy City, TN
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    My wife and I run team. We incorporated the business and we both receive equal wages from our company. We both have separate checking accounts that the pay is deposited in. The business has a checking account where all the truck bills are paid from. At the end of the year you can take a "dividend" and split some of the extra profit left in the business account but always try to make sure you have around 20k in the business account in case of a blown engine or other big mechanical problems.

    I would buy a truck from Lone Mountain Truck leasing. You need around $5k down and put the rest in a business account to pay for repairs and plates and things needed over your first few months in business.
     
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  5. TaylorMade407

    TaylorMade407 Road Train Member

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    I would love to get my own authority but we just don't know the business side of it as far as paperwork finding loads and such. And we already agreed that a long nose Pete or KW would be ideal but its not in the budget for starting out.
     
  6. TaylorMade407

    TaylorMade407 Road Train Member

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    So are you guys getting paid by the miles or by percentage. I heard percentage is always better but never really heard if I was better in a team operation
     
  7. fireba11

    fireba11 Heavy Load Member

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    Tracy City, TN
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    We are leased to Landstar and the truck get's paid percentage. My wife and I both take a salary of $600.00 per week regardless of what the truck makes for the week. We normally only run 110k miles a year but we haul high dollar freight, better to work smarter then harder. Our first year we turned 197k in revenue with Landstar.
     
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  8. flood

    flood Road Train Member

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    you mite want to rethink your truck, I have nothing against big hood's but a aero truck my be better remember fuel millage can kill you, 7mpg v 6mpg will save you around $9,000 in fuel for each 100k the truck move.
     
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  9. SimD

    SimD Light Load Member

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    dallas, tx
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    Send me a PM I'll give you all the details you need to know.
     
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  10. SimD

    SimD Light Load Member

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    dallas, tx
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    I 2ND that don't buy no long nose. Your starting out go get your self a columbia or a century. You want a truck that makes you money, not a truck that looks good and sucks on fuel mileage. We have a 07 columbia with cat acert all factory getting over 7mpg on 45k loads.
     
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  11. TaylorMade407

    TaylorMade407 Road Train Member

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    Yea we wouldn't actually buy a long nose right off the back. My next question is what freight is the most profitable and consistent right now? All I've dealt with has been reefers but wouldn't mind flat bedding if its consistent and pays well. By the way we'll be running out everyone favorite state. Orlando, Fl. Staying out wouldn't be a problem for us.
     
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