When do you call it quits?

So you were successful while leased to companies, but on your own it has died off. It sounds like you know your answer already. I'm tickled to death with Landstar and I have been in your shoes. I had three trucks, an owner operator, and six trailers. I lost my main haul(they got bought out) coming out of FL which always paid $2+ p/m and everyone stopped building down here at the same time. My business went to crap and I was running my truck with crappy broker freight just to keep the company above water. I had to make a change, and just wish I would of come here instead of getting my authority in '03. I got of rid of everything but my Western Star and came to LS and leased a step from them. No stress, no bull, no desk jockey telling me how to run MY business, etc. and all the freedom of my own authority.

 

I think your best bet would be to get setup with a trucking cpa, and have him figure out what your doing wrong. Having a trucking company is easy when the economy is good and rates are high, but those that don't have a solid financial plan fail when the economy flops or fuel rises. Good luck you need it, I'd start with figuring out how to cut expenses and implement it yesterday, even if it means running 58 mph. Are you using a fuel card with a cost plus discount like Landstar Savings Plus or NATSO? That is the equivalent of .04-.05 a mile your throwing away if you're not. You couldn't afford those new drives you put on, why didn't you go with a good cap like a Michelin MRT? You need to spend like your broke, because you are.

 

Not sure where to start since you posted a good deal of information. Let me begin saying that in no way do I consider myself and expert but learned from my family and personal experience, my family owned a nice size trucking company and after dad died things went down hill fast due to various reasons beyond anyone living controls.

The drivers situation will always happen, takes a few to vet them and sad to say things change with peoples lives. Once a happy Nomad can turn into a get me home please if something changes, not good to try and change them and only ads to your ulcer. Vet them in the beginning and warn them in writing with a signature from both of you, it may sound petty but today some need that reinforcement to read that they are not working for Greyhound.

Loads, well we were located in West By Golly, West Virginia for you flat landers.
Things just do not move off that planet in or out with no deadheads unless you have a Fairy Godmother or manufacture your own freight. When we needed to get home sometimes our lanes were dry for a home run so we would leap frog freight back as close as possible, now looking at a certain cents per mile being too low per load may be the way you want to run and respect that.

Here is what I was taught, you know what it cost to run the operation and the bottom line dollar your expenses are, but in the big picture and quarterly revenue for your AP and AR ask yourself this.

How effective are you controlling cost, fuel consumption and overhead?
Do you shop around for parts and supplies or just take what you can get when needed, Proper Planning Prevents Poor Performance.

How can you cut cost without sacrificing safety and service to your clients?

What can you do as a O/O to boost your image and get your feet in the door of better paying loads?

Just tossing some things to you, if you care to talk more send me a PM and will try and see what or if any help I can be.

 

It gets worse every year!
From what i have noticed more and more big carriers like mercer etc are getting more of a percentage of loads as the owner operators go out of buisness!
And they are controlling the rates ! Double brokering to anyone that has a $10,000.00 bond..
Then when these fly by nighters get it! There looking too get rich over night and cut the crap even more..
Anywhere i go its $1.50-$2.00 a mile and they think there doing you a favor!
Theres no tarp pay, no stop pay, no detention,no fuel surcharge !
How could there be when the rate just covers cost!!
I think every trucker out there is a liar!! Not really but seems that way!
When all you see is $2.00 freight! It must be moving at that rate! Cause its all you see...
Ask a broker for more ? Theyll giggle and act like your nuts...
Im at the ta in florence ky been here all day! Im not hauling 48000 pounds up and down the mountains for fkn charity!
I brung a 4 million dollar jet engine here payed me $2.50 a mile paper work said it was just 1 million dollars! Picke up in nc after sitting 2 days looking for a decent load.. Couldnt take it no more had to take something and got lucky with the $2.50 rate was worried if i didnt take it ida been there another day!
And here i am again ! Sitting in lala waiting for my yaya!lol

soooo! I feel your pain short fuse!!! Good luck! Were gonna need it!!

 

Well not a trucking story but one that is similer was once a top notch bronc stomper had my own little business besides my farm had a string of horses that had forgotten more about cattle workin than most men will ever know, eventually had to sell my old friends to " rodeo only " cowboys who did it on the weekends due to the drought.....

 

I dont know how any O/O can seriously run and make money for a $1.07 a mile...Its just not in the cards... .60 cents a mile after cost...Good Lord i would be pulling my hair outtta my head then putting a gun in my mouth... I dont understand drivers like that either... just as bad as a Fleese Purchase Deal these big companies are now doing..

 

Wow dude. Could you find any smaller place to be stuck. I lived in Cocolamus most of my childhood, yikes. Good luck and I hope you find a load heading you back to Texas real soon.