Why do most owner operators fail?

Thanks for all the tips guys. Right now I am leaning towards pulling containers out of Chicago. I don't know for which company yet I've just started researching and am shooting for spring time to make the jump.

Can anyone tell me the following.

When you lease on with a company is it typical for them to have some sort of fuel card that then gets taken out of out of the settlement? That would eliminate the need to have massive amounts saved for fuel.

Same question with maintenance. I know that a lot of companies when you lease purchase take a set cpm out for maintenance. I absolutely will not be doing an LP but I will have standard financing. Should I expect a maintenance account just in case I break down right away and need a little floater.


"Liberty once lost is lost forever" -John Adams

 

Containers as. ? Ever think of doing jb hunt loads? I do a few here and there out of minneapolis. But other than that its just regular rail containers. They all should give you a fuel card. With container work I haven't found a company that requires you to have a maintenance fund yet, but it has been offered.

 

Most carriers issue fuel cards to company drivers and owner operators who lease to them. They will advance a portion of the load once you pick up. Some carriers do offer to take out a fixed amount from your settlements to fund a maintenance account. I would suggest that you set up your own maintenance account where you can have quicker access to your funds if they are needed. It can be a little bit of a hassle to access your maintenance account with some carriers, especially if it is after hours or on weekends. Whether you set up your own or rely on a carrier, it is always a good idea to put money aside for major repairs. If you are diligent you should have all or most of the funds put aside when something major happens.

 

Jb is one of the companies I will talk to but what I've seen so far is they are the lowest pay for drivers who are leased on to their authority. That's what I will have to do to start out.


"Liberty once lost is lost forever" -John Adams

 

Yeah I only took them when we have slow days. Still they pay about 1.60-1.80 a mile, it's better than nothing if the rail yards are slow.

 

That's on your own authority tho right? Otherwise you can't really switch around is my understanding.


"Liberty once lost is lost forever" -John Adams

 

If you go to the railyards or container depot's you will find bulletin boards with companies looking for owner-ops. They vary a lot from shady operations paying terrible to some pretty decent companies.

 

no I'm leased to a smaller company that is also a empty container depot.

 

honestly some places are good for some people but not for others, I'm on my 2nd intermodal company and I'm pretty sure it might be my last, it's not a easy one to get into doing local runs around here. But work is out there you just have to see what works for you.

 

One word of advise.....Do not lease to a company that has both company trucks and owner operators. When freight gets slow you will see the company trucks running and you sitting. Make sure it is a all O/O company.

Make your own maintenance account. Open a savings account or checking account at your bank and put a percentage away each week. I have spent almost $10k in numerous repairs over the last 4 months and am glad I had that money tucked away.