Owner Operator

Good evening fellas, it's been awhile since I last posted on TT. I am considering becoming an owner operator in the meantime I want to do my due diligence and do my research before making any type of move. I would love to hear feedback good and bad of being an owner operator. I also want to make sure that I'm covering all bases on my research so please feel free to list any type of research that you would recommend me doing. I think you guys for your help and assistance !😁🖒🚚

Oh boy!!!! My best advise is don’t , but if your determined then look up kevin rutherford his website is lets truck.com i think. He has an entire training program designed for this. I personally think he is very wise and experienced.

CT, I guess I always want to know what it is that motivates you to want to go in that direction with your career? Can you lay out something for us that explains your goals, or fill us in on why you think you want to take that plunge?

Thank you PJ I will check it out. Why do you say don't become an owner operator?

CAT, the Trucking Truth official position is to stick with company driving. Many people think they can be successful, but truth is few make the money. Think playing Whack-A-Mole while you juggle a bowling ball, a bouquet of flowers and a chain saw.

I put " Owner operator " in the search box above. Read these topics: Becoming an Owner Operator

I made a goal when I first started driving tractor trailers that I wanted to be a owner operator one day. Nothing like owning your own business and watching it grow. However if I don't try then in the back of my mind I will always think what if? And some of you fellas might steer me away from it and give me great reasons why to stay away from it and I'm open to, I'm a big facts guy and like to analyze a lot. That's why I'm reaching out to my Trucking Brothers for good or bad.

Be a company driver for a minimum of one year. Drive the truck like you own it. Keep track of all maintenance costs, fuel and add in how much you expect to make. There are other expenses like taxes, insurance, truck payment and more. As a company driver, none of that is my concern. My job is to drive that truck. After it's a few years old, the company gives me a new one. Any problems that come up for me, I just let the appropriate people know and it is now their problem and not mine. All I have to worry about is getting there on time and safe.

I made a goal when I first started driving tractor trailers that I wanted to be a owner operator one day. Nothing like owning your own business and watching it grow. However if I don't try then in the back of my mind I will always think what if? And some of you fellas might steer me away from it and give me great reasons why to stay away from it and I'm open to, I'm a big facts guy and like to analyze a lot. That's why I'm reaching out to my Trucking Brothers for good or bad.

What businesses would you be willing to start, knowing that you’ll need $150,000-$200,000 in equipment IN ADDITION to $40,000-$50,000 for operating expenses? You say you don’t have it? NO PROBLEM! Somebody will LOAN it to you.

You want facts; do a little research on why businesses fail. Most of the time it’s a lack of funding. And borrowing is a lousy way to start a business...well, unless you’re putting up great collateral and a down payment.

I’ve been fortunate enough to have a business I was able to sell. But it took me ten years to build it and the only hard asset was a ten year old delivery van. The value was my customer base. That was worth a lot for the buyer. But my initial investment was “shoestring.”

Other people will give great advice. Mine is simply to look at Owner Operator as a business like many others. And remember; your competition will be every large trucking company and every other Owner Operator.

Good luck!

I'm a big facts guy and like to analyze a lot.

That's good. Here's a big fact that's gonna be staring down hard on you. Out of all the big time players in the trucking business the profit margins of the best managed trucking companies always hovers around 3%!

How does that fact sound?

Well thank all of you for your input