When is a good time to become an owner operator?

Well Monday is a Holiday so probably wont be anyone in the office, so Tues should work.

 

Shoot , the truck payment is usually the biggest fixed expense, so you're already ahead ..

As far as when to start ? We can't answer that since everybody is different . Some people are business savvy and good with numbers and can jump right in, others can drive for 20 years and still not be ready .

Did your Uncle have his own authority ? I'd pick his brain and see if it sounds like something you can handle

 

I’ve never had a truck payment on my truck, that’s a choice you make when starting off.

there is a lot of good information on this site I suggest you start reading, because if you have to come on and ask generic questions you are not ready.... but it’s usually 2 years before your options open up for leasing, you could get your own numbers but I’m sure insurance will be outrageous and most brokers probably won’t work with you with new numbers and no experience

 

My opinion. The first 2 replies are the complete answer.
Plus you should have a cash reserve for repairs or a source to get it.

Good luck.

 

Not having a truck payment will put you ahead of most people, and give you some extra cushion for the learning curve. I suppose the only real barrier is how well you operate the truck. Once you're confident you won't damage anything, it might be time to start learning how to be an owner operator.

 

One of my uncle's died and left me his mixer and waffle iron. I heard you can make a lot of money selling waffles, how long should I wait before I open my own Waffle House?

Someone told me on TWR (The Waffle Report) I should wait 5 years, and really learn the business first, but I think they're just trying to trick me into not opening a Waffle House, you know, I might be cutting in on their big money.

 

Having a truck already given to you is half the battle covered technically. Now obtaining a job/contract for o/o needs to be obtained & even better your own Authority if your up to that? However, running your own Authority means finding your own loads and running a full trucking business so depending on your work ethics matter. Since the truck is already 5 years old having an expensive reserve for maintenance is a necessity so $20k plus is good in the bank before applying for jobs. The worse thing is having a breakdown with your truck down for a week or so. When the wheels aren't turning the money ain't earning.

 

If the co. you work for now has 0/0 then after you work for them and make all the p/u and Del. on time for close to 6 mo. or a year and talk to the 0/o that are leased on to see what they say about the per/centage or dollars per mi. they get payed, the best co. never have to put add. in the books you see at T/stops, just start talking to 0/0 you see at docks, but be carefull of counter talk and drivers giving you their driver # to get the $ from bring in new drivers at t/stop when they open them up full time

 

Keep driving, start researching.

I’ve seen guys start with no experience and get their own authority. And succeed.

I’ve seen guys with years of driving experience fail.

Research. Form Business plan. Evaluate. Act.