What happens to you guys during a recession?

Discussion in 'Ask An Owner Operator' started by Driver Eight, Jan 11, 2020.

  1. jamespmack

    jamespmack Road Train Member

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    I just started banking in Ukraine. Way lower requirements.
     
  2. Doealex

    Doealex Medium Load Member

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    You must have some relatives working in beltway :);):(
     
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  3. Bigwin123

    Bigwin123 Light Load Member

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    Arrow flat bed company lawyers were very transparent about the son who took over when dad died. And ruined the 70 truck company. But what about the last three or companies?

    I'm wondering if A one to three truck company can stay afloat why can't the medium ones. Who ever started this thread thank you
     
  4. Montanaland

    Montanaland Light Load Member

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    Running spot rates (freight) for me has been average to say the least. I believe things aren't going to get noticeably better anytime soon. We all know a pull back of some sort is waiting out there. My plan is to go back to the oil fields, stay local or more than likely sell the truck. The exit door might get a little crowded if I wait.
     
    Last edited: Jan 11, 2020
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  5. Doealex

    Doealex Medium Load Member

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    Insurance companies and DOT know that owner-operator takes better care of his /her equipment/authority and knows his equipment better than company driver with slip seat policy and drop&hook trailers.
     
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  6. Midwest Trucker

    Midwest Trucker Road Train Member

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    The overhead costs for a 1 to 3 truck company are much lower then a larger company for starters.
     
  7. Midwest Trucker

    Midwest Trucker Road Train Member

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    Are you not profitable? If your planning on quitting then why wait? If your profitable I’d stick with it since we’re a good year to year and a half into the bad swing of the pendulum.
     
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  8. olddog_newtricks

    olddog_newtricks Medium Load Member

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    An old timer told me years ago if you want to make it in this business you have to go super big or stay super small. Anything else you just rack up lots of debt and eventually go under. When you look at the way things are ... He may have been right.
     
  9. Driver Eight

    Driver Eight Light Load Member

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    My business plan has a rough outline of paying myself back like a business loan for a new equipment investment every 4-5 years before I run out of warranty, like the megas do. While also investing the equity that is left into the next purchase. And living with a typical company driver’s net budget. Don’t know how overly optimistic that is, especially with the macroeconomic bell curve at it’s zenith, but I’m glad you confirmed it as a good goal.
     
  10. BackwoodsGA

    BackwoodsGA Heavy Load Member

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    I got through the one in 2008.Still here.
     
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