Would going O/O even be worth it for me?
Discussion in 'Ask An Owner Operator' started by GettingRolling, Jul 26, 2021.
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Rideandrepair and GettingRolling Thank this.
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I am going to continue exploring the possibility of running my own show but with the info I have now and current savings i couldnt pay my bills and run my company the way I want to being able to put money aside for a maintenance fund as well a pay myself ~$1500/week. I still have to reach out to the small company I would like to work with to get more specifics about the customers and loads they run frequently. I built some serious tables on Excel and have as much serious info as i could gather but i had to generalize some of it. I really should reach out to them because if what they tell me doesnt make me happy numbers wise then I wont move forward and will table being an O/O for a while. Even if they say good stuff i will probably continue researching and saving till atleast 2022. With the skills i have outside of trucking i believe i could make the company function well and maintain my own truck but the load boards the company runs off of dont allow demos so not thrilled i cant preview the frieght they move in my areaRideandrepair Thanks this.
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Working on finding a house first, market near me sucks right now bidding wars jacking prices up 30-50k over ask its crazyslow.rider and Rideandrepair Thank this.
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Whats your area? And whats your poison? Flat? Reefer? Box?Rideandrepair Thanks this.
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North East, based in western NY. The company that has the interesting deal does Auto Transport. It appeals to me a bit from what ive read but still gathering info.
Currently i am basically dedicated reefer but i never have to wait all drop and hookRideandrepair Thanks this. -
Well i just looked at van and found a 2 day set of loads grossing 3600
Load near you, deliver next day, reload back to house, thats not home nightly but its only 600 miles each way including deadhead, sooo, do that 2 x a week, home weekend and wed
Rates are high right now and that may be optimistic long term but more or less northeast pa to chicago and back is a decent turn.
Call it 2400 miles a week, 4 loads Lets lowball down to 6k a week, not your own authority lets call that 70% of load so, 4200 a week, 5 mpg at 3.15 a gallon gets you 1500 fuel cost, 1500 to you, 400$ a week truck/trailer payment(100k, 5 year loan), tolls about 150, insurance, 100 a week, leaves you just over 500$ a week maintenance etc etc.slow.rider Thanks this. -
6k is honestly my low ball target based on info they provided and research ive done so far makes it seem obtainable and reasonable. Still allowing for for decent savings fund for unforseen issues and a lil profit.Rideandrepair Thanks this.
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8 tires installed can hit 4 k pretty easily... so thats 2 months if your dream truck has garbage tires...GettingRolling and Rideandrepair Thank this.
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Sounds like a great gig. I won’t bother telling you to go for it, or to discourage you. You’ll do whatever you decide to do. Now is a good time to do more research, saving, and planning. Keeping the knowledge ready for the right time. Might have to get deeper into it, to maintain your current pay. Things change in Trucking very fast. Every Company I’ve worked for has changed Operations, gone out of Business, Contracts and accounts change. If still around, don’t resemble what they once were. Nothing lasts forever. Only reason I bought a Truck. I needed to make $1000 a week, to live decently, and my Wife to be able to stay home. Weren’t many good Jobs available at the time. The Local Jobs paid $12 hr. OTR, .30 cpm. Couldn’t raise a family off that. Nows a great time to save, and focus on the future. True Freedom means having choices. You have a chance now to get ahead financially. Take advantage of it. The others always an option.
Midwest Trucker and GettingRolling Thank this. -
Gotta give me a little credit that i dont just show up turn a key and roll every day. I have a healthy respect for the truck, the road, and the problems they can bring me during my day.Rideandrepair Thanks this.
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