when to become. an owner opp

Well at first I didn't think I could ever do it or want to do it but once driving for a company became second nature I feel like I am ready to take on more responsibility now plus I love to drive. At first I wasn't confident that I could continue to do a good job but now trucking is easier since I know my way around more and know which places always have traffic and the detours and truck stops that always have parking no matter what time it is, etc.

 

Experience is always a good thing. Sure there are guys who start out as o/o from the get go with zero experience and not having some basics down pat as second nature they will be inefficient and likely make more stupid, costly mistakes. Being financially stable is the most important leg up you can give yourself. Good money management is a most critical skill. Nevery forget the money coming in belongs to the truck first and foremost always, you come second. Get yourself out of debt while driving someone else's truck and pile up cash. I worked like a mad man for years and banked over $30,000 one year as a company driver. Anyone who says it can't be done is unwilling to make the sacrifices necessary. It can be done and debt free is the best way to do it. Still doesn't ensure success but makes things a tad less stressful. Don't be one of these operators one blown tire from being out of business. Too many of those guys out here already and most of them will work for fuel money too.

 

Learn the business side...being an o/o is a business, being that you were a diesel tech is a plus as all repairs are your responsibility as well. All expenses that you see the company paying become yours

 

Well said!

 

Like everyone said, you learn the business end of things first. Right, you knew that. Then what do you learn? Youre just now starting out as a company driver. Sit back and watch the others company drivers. Some of them dont want to work. Some of them cry when they have to leave home, and every day they arent home. Some of them go around telling everyone what they wont do and where they wont go. Some of them are stupid.

Remember when you were a kid, and you thought that you just couldnt wait to grow up, because you wouldnt have to do anything and could eat candy and ice cream 24/7? As you mature, you realize that those goals you had as a kid were silly. Same thing goes in trucking. You will see company drivers talk about becoming owner ops so that 'noone can tell them what to do and where to go, and they can go home and stay home whenever they want. In the topic threads about bad weather, you see people chiming in about refusing to throw tire chains. You see people refusing to run at night. You see some refuse to drive in rain and snow. If you have this mindset and you're paying for a truck, you're going to go broke. The 'mature' driver realizes all of that "I wont do this/I wont do that/dont want noone telling me what to do" talk is as silly as trying to survive on a diet of ice cream and bubble gum. Now, go eat your vegetables.

 

Not everyone is cut out to be an O/O. Being a excellent truck driver and being a smart/good businessperson are 2 entirely different jobs, and honestly there are very few that excel at both. I would never had considered it without my wife's book keeping/money management skills. I can operate/maintain with the best of them, but I have known me for 54 years and I know I have a hard enough time keeping up with a log book and maintenance reports and BOL's and all of the day to day paperwork that comes with driving a truck(even a company truck), if I had to do it all myself, I'm pretty sure I would have serious problems come April 15th. And FWIW if you think that the ever changing FMCSA/DOT rules and regulations are a PIA you ain't seen nothing yet wait until you start dealing with the IRS, when it comes to going out of the way to be hard to get along with FMCSA has a lot to learn yet. I'm just sayin'...

 

It's a good idea to have a good cpa also. One that knows trucking. Being incorporated helped me considerably when I was an owner op. I enjoyed owning my own truck. Made lots of money. Just took a break from it and landed a really good job that's hard to get rid of or I'd still be doing it.