To all of you out there ready to strike it rich...

Discussion in 'Ask An Owner Operator' started by Dino soar, Oct 16, 2021.

  1. Dino soar

    Dino soar Road Train Member

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    I don't begrudge anyone out there that wants to work for themselves, but I think there are people that just think they're going to strike it rich.

    Here's a few things to think about.

    Yes the rates have been strong. Okay that's great everybody go run and buy a truck let's get rich!

    Not so fast.

    The price of fuel is climbing rapidly. Home heating oil is projected to go up 53% over this winter. What do you think is going to happen to the price of fuel?

    Inflation is massively Rising. I just bought a spare light cord for my truck that a few weeks ago was $62 now it's $82.

    Every expense is going to rise. The price of trucks the price of trailers have massively risen. Brakes tires shocks batteries exhaust engine parts,... Some of which there are guys sitting because they can't even get the parts... all of this is rising... RAPIDLY.

    So the so-called good rates maybe aren't as good as they appear to be because if they don't rise at the same rate as inflation and parts and Fuel and everything else is rising you're making less money.

    On top of that, not only if the rates don't keep up with that, but when they do decline everything else has gone up.

    And let's not forget there are multiple things that the government could do to raise the cost of being in this business.

    Do as you wish but right now financing colossal sums of money is just a bad idea.

    I can understand someone having a good business plan wanting to start a business. What blows my mind is what I think is a large number of people that look at this as a hot craps table and they want to jump in and get rich with just a quick roll of the dice.

    To whomever, good luck in all your endeavors.
     
    Last edited: Oct 16, 2021
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  3. Ridgeline

    Ridgeline Road Train Member

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    Dino, I and others in my circle predict a big crash with rates and a large amount of trucks on the used market before the recession is in its second quarter.
     
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  4. ProfessionalNoticer

    ProfessionalNoticer Heavy Load Member

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    What blows my mind is actually seeing posted load rates...FALL. What kind of idiot is cutting rates when literally everything around them both in business expenses AND personal life are rising?! Carriers should be raising rates to cover cost of live expenses as well as higher operating costs like parts and fuel particularly. Anything else is a recipe for bankruptcy and failure.
     
  5. Siinman

    Siinman Medium Load Member

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    When people take the loads is the problem. I set and wait them out unless something is wrong at home and need to get back.
     
  6. ProfessionalNoticer

    ProfessionalNoticer Heavy Load Member

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    I have something lined up at the drop before I even arrive at the pick OR I get a rate that pays enough to get me back home. You're right though. Let it sit. They like to say that wheels need to be turning to make money but turning wheels also cost money.
     
  7. Midwest Trucker

    Midwest Trucker Road Train Member

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    When I hear the news say something like 5% inflation I just shake my head. I’m seeing 20 to 30% inflation or higher even.

    As far as trucking who knows. I already have a lot of equipment and infrastructure in place so I’ve been loving the rates. However, if your new getting in, it’s extremely risky because things do turn at the drop of a dime. Maybe I should say quarter all things considered. lol
     
  8. Short Fuse EOD

    Short Fuse EOD Heavy Load Member

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    Agree on the inflation with you.
     
  9. ProfessionalNoticer

    ProfessionalNoticer Heavy Load Member

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    I agree. The news is a major link in the chain that ties us to this modern day plantation so I wouldn’t trust anything they're saying personally.
     
  10. Short Fuse EOD

    Short Fuse EOD Heavy Load Member

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    I am for rates are going to raise. Not many young people are excited to run up the plastic trash rigs that are being offered by fleets. Kids grow up and seeing a hood and think cool. Sorry, my oldest told me he has no interest driving the ugly plastic rigs. I would bet he is not alone. Not many want to be away from friends and family. Those that do got trucking in the blood. Automatic braking, nanny, plastic is not much to put in your veins. I see a driver shortage due to cultural needs and who is proud to drive a T680?
     
    Last edited: Oct 17, 2021
  11. LameMule

    LameMule Medium Load Member

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    Be fearful when others are greedy and greedy when others are fearful...
     
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