Any Owner Ops Here?

Although I see myself staying company for the foreseeable future. I do look and Aw at the trucks some of these owner ops have. You can tell a lot of these guys out there heart and soul into there rigs. I guess my question to any owner ops in here is, what makes it worth it? Is it just the money? Or do you also like the responsibility and being your own boss? And to the people who are staying company drivers, how come? And did you ever flirt with the idea of being a owner op?

I am not an expert by any means and yes those trucks some of them look darn cool. You can see some really cool custom rigs on Youtube. Here is my .02 cents

The shock and AWEsomeness aside, owner op takes a commitment - you will be married to that Truck, consider if your wife. The same as any small business owner is married to his or her business in a sense. There are all sorts of expenses to take into account - fuel, operating authority, toll road fees, operating fees, load planning , scheduled down time for maintenance and the one that breaks most - insurance!. Don't also forget TAXES.

I did collections and home loan modifications for a company for about 10 years before I changed to this venture and I can tell you , I did a lot of mods, home foreclosures , short sales , bankruptcies and other what we call in the industry of finance "credit adverse" workouts for many an owner operator. Some of them hadn't filed taxes in years and then gave me attitude and balked when I told them because the bank considers them self employed we must have two years of verifiable tax returns and business income profit and losses.

The one thing I can tell you about 95 percent of them (a few fell on genuine hard times mostly medical and they couldn't drive anymore or were out of work for a stretch) - 1) They underestimated their expenses 2) They overestimated their income potential. Like the guy I had who had a 450K house in AZ , homeboy could barely keep up with the mortgage and the truck expenses.

If you do it right and understand you are MARRIED to that truck, it could work out for you. Just understand its a commitment and the truck (like in a marriage the wife's) needs must come first. If the wheels arent turning you arent earning.

Stay with your company and become a top tier driver and get to know the business then venture into the OOP side . Hope that helps ...from a finance guy's perspective

Although I see myself staying company for the foreseeable future. I do look and Aw at the trucks some of these owner ops have. You can tell a lot of these guys out there heart and soul into there rigs. I guess my question to any owner ops in here is, what makes it worth it? Is it just the money? Or do you also like the responsibility and being your own boss? And to the people who are staying company drivers, how come? And did you ever flirt with the idea of being a owner op?

"https://www.truckingtruth.com/truckers-forum/Topic-6636/Page-1/advice-owner-operator"

Found this article for you Harvest, might give you more insight than what I posted. I don't want to demean your dreams or anything, just wanting to paint a very real picture for you. As I stated before , I handled the bank side of some Owner Ops in my past job. I wish you best of luck in all you are doing and much success!

I am sorry, I thought I knew how to make a hyperlink for you , I was wrong. I need to learn how to properly link articles on the site.

"https://www.truckingtruth.com/truckers-forum/Topic-6636/Page-1/advice-owner-operator"

Found this article for you Harvest, might give you more insight than what I posted. I don't want to demean your dreams or anything, just wanting to paint a very real picture for you. As I stated before , I handled the bank side of some Owner Ops in my past job. I wish you best of luck in all you are doing and much success!

Yes, Harvest there is me. I have been an Owner Operator for 36 years and for me it is the only way.

Why? I love the independence. I am leased to a company but actually it's like having my own authority. There are no dispatchers here. I am the driver and dispatcher. I have access to my company's load board and can pick and choose but also I have made some terrific relationships with our independent agents and I call them for a load and they also call me. Many agents dont pusy their freight. They have worked hard to build relationships with shippers and only want select guys to handle their loads.

Another thing that makes me successful is that I am doing something that very few are doing. But that is a story for another time.

I got into trucking when times were much different and I had some excellent mentors that opened a lot of doors for me. Frankly I dont recommend being an owner Operator unless someone has spent many years driving company and has the business acumen and dedication to see this through. Its rough out there if you are inexperienced and dont onow what you are doing.

I dont recommend lease purchases under any circumstances. Beware! Stay away!

I'm going to cut it short now cause this reply has been way too long but anything you want to touch on just ask!

So why am I on a forum geared for newbie company drivers? Because I had help and valuable advice given to me half a century ago and I would not have made it without their help so I am just giving back what was given to me. I do know a thing or two or three about what company drivers need.

You have a good attitude Harvest and you can go a long way in this business.

Harvest...you have had what? One, two solo runs?

Old School and Brett have written several articles addressing this subject. Please check out the TT blog section. (Bars in upper left corner)

So...here is a thought. There are numerous experienced, top performing drivers on this forum, several of them have successfully run their own business. Don’t you think if it was worth it, we’d all be under our own authority, operating as an owner?

Your emotions should not motivate what should be a purely “all business” decision. Shiny, cool looking trucks do not put food on your table or clothes on your back.

I’ll leave you with this...

I frequently drive PA 183. It’s a rural route I use as a shortcut through Berks County PA. Along the route are houses, several of which have very long driveways where fancy, chromed-out gingerbread laden rigs are parked. For all intents and purposes, the appear to be owner operator trucks. There are 5 of them along this stretch. Funny thing...they are always parked as I run past them under dispatch or on my way home, always there. The other funny thing I noticed yesterday? Two of them are now for sale. Interesting, isn’t it?

In conclusion...the most successful carriers in this business operate at 95+% operating ratios, which means for every dollar they make, their profit is a nickel or less. This is a commodity business, requiring huge scales of economy to be profitable. Can you compete with that?

Dude I barely know you,...and you will probably curse my blunt honesty, but seriously please learn to be a top performing driver, learn the business...you will soon realize that 70-80k annual compensation is possible and achievable with far less headaches and liability of being an O/O. And the “being your own boss thing?” As an O/O your truck payment is your boss. I don’t have one of them and never will.

Be the best at what you do Harvest...the cards will then fall into place. I promise you that.

Good luck and keep up the good work! You’ve come a long way...

Sure! I have a 2003 sitting parked because the insurance at my a** up! I parked it and went back to being a company driver when my net profit (ALL expenses) went below 80 cents per mile.

Hey buddy, how does one link articles from the site into their comment? So that the reader just clicks it? Errol showed ke a long time ago but I plum forgot?

Sure! I have a 2003 sitting parked because the insurance at my a** up! I parked it and went back to being a company driver when my net profit (ALL expenses) went below 80 cents per mile.

I’m a company driver and intend to stay that way. Why? Because I’ve owned my own (non-trucking) businesses and just don’t have the desire to own the depreciating, maintenance-requiring “assets.”

I’m probably less than ten years from retiring, so the debt and liabilities would probably ruin any plans I have.

Besides, have you seen all the announcements of companies closing? Even when we’re told the economy is booming? 🤔

Go to reply, then there are two "LINKS" tabs: one for the site; the other for off the TT site.