What are the advantages?

Everyone does it differently. Some work hard in the summer when rates are a bit better than winter, then when the snow flies they take the winter off and do something else. Some people might have $48,000 a year in truck and trailer payments. Others don't. Some may have less than perfect records and their insurance rates will be higher others will be lower. Some people have trucks that get 9 or more mpg, others get half that. The key to making more as an o/o is not the same for everyone, gotta figure out what works best for your own personal situation.

 

Has a lot to do with how much of the mechanical up keep you are willing to do your self.
If your only gona drive, you'll probably go broke as an owner operator.
Most of us that do well, do almost all mechanical work including engine rebuilds and difinitely oil changes.

 

Dont look at the big numbers that some guys will brag about. I will probably gross a little over $200k this year. But my fuel expenses at the rate I am at now will probably be between $85k - $95k for the year. Plus I just had a couple costly repairs, I still need tires for my trailer. Who knows if DOT catches me and fines me for what ever. I'll probably NET between $65k - $80k this year. Thats my personal guestimate. So,.. no,.. not really much more then a company driver this year.

I'm still finding my way and learning. I have an older fuel thirsty truck. Still on the fence as to taking on a newer 2010+ truck or buying another older pre-emissions truck. Both have their pro's and con's. I have an 05 Columbia with an 03 C15 under the hood. Mechanically its as reliable as an old dog. But little BS things like wiring and ECM shorting out, ABS controller valves, air line leaks etc are cropping up and I suspect I will see some more BS things before this summer is over. I spent $3k doing a PM service plus some other minor repairs to help increase fuel mileage,.. only to shell out $6200 3 weeks later for something that was over looked and escalated into a costly repair. Then 2 day later a $1200 repair for an air leak and ABS valve controller. Thats the down side to owning an older truck. Newer trucks are not free of their own problems just like these.

So sure,. you can gross $200k, $230k,.. absolutely. The key to being successful and surviving is to minimize your expenses. If you run hard like I do, saving 1 mpg can save me roughly $20k a year in fuel. So when I see a truck that can average 6.5 - 7 mpg, that gets my attention. I dont even look at the HP numbers anymore. How reliable will it be and how fuel efficient will it be. The rest is just cosmetics. Grossing $230k with $150k in expenses is not my idea of intelligent operating. May as well just get in a well paying company driver position. You'll have less stress and make more money.

As far as taking time off. Well sure,. if your truck is paid off. All your other bills are covered and you can hold on to enough money to cover your expenses when you head back out,.. sure. Take off as much time as you can afford. But keep in mind. Your not making money with your truck parked. Operating costs are expensive. So unless your just running periodic local hauls or have a loose contract with someone, I'd suggest keeping that truck rolling as much as possible. Bank as much as you can. Then when you are older and ready to slow down, you can afford to do so. Run hard while your body will still allow you to do so.

Hurst

 

The O/O that is driving mileage is do about the same as a company drive. A lease driver, driving % will do as lot better as long as he watches hi deadhead. A independent will do even better because he is getting the entire rate. but were the money really come in is watching your fuel and doing your own repairs. If your heavy on the foot and don't like getting dirty. drive someone Else's truck

 

this this this

 

It is not what you gross in a year, but what you net.
Drive 120, 000 miles a year, gross 225,000 bucks. You are gone all the time, tired, worried about everything, no life other than driving. Net 65,000


Drive 48,000 miles a year, gross 130,000 bucks. Home every night, average working 4 days a week, about 8 hours a day. Truck paid for long ago. Net 48,000.


I greatly prefer # 2,my current job. I learned to work smarter, not just drive harder.

 

I don't. However I also do not have my own shop or place to do them. I am not doing them in a truck stop parking lot, especially the mechanic who allows me to park there for free (3 mi from home) in exchange for having him fix my truck. If I had my own shop, I would do anything I could handle myself. That day will come.