Do you want to be an owner-operator?

[doublediamond]

Because you’re used to focusing on driving, it’s easy as a new owner-operator to throw paperwork in a drawer and plan on getting to it later. But not keeping up with business details can cost you thousands.

Company drivers looking to make the switch to truck ownership, take heed: Because you’re used to focusing on driving, it’s easy as a new owner-operator to throw paperwork in a drawer and plan on getting to it later. But not keeping up with business details can cost you thousands.


The industry has made it way too easy to move from being an employee driver to owning a truck. Far too many drivers give no real thought as to what it means.

List the top three reasons you want to be an owner-operator. No. 1 usually is to make more money. Then it’s more freedom, less hassle, fewer rules, etc. If your answers sound like these, think again before you proceed.

The top reasons for getting into business should be the challenge of accomplishing the work, starting a new venture that will give you the opportunity to make more money and create a better life for your family, and the opportunity to build a business model that allows you to make more of the choices that affect your life.

If one of your top reasons was that you are confident you can own and operate the truck better than anyone else and create a value proposition for your customers through hard work and smart choices, then you are on the right path.

Answer these questions before you take the leap.

Does owning your own truck really mean more money?
It might, but it’s no guarantee. You actually could lose a lot of money.

Will you have more freedom?
You might find that you have a lot less freedom. If a company driver’s truck breaks down, the carrier figures out how to get it fixed. When you own the truck, that’s your problem.

You already know that when the truck is down, you’re not getting paid. But when you own the truck, it’s worse because you also have fixed expenses to cover.

When you are a company driver, you have the freedom to live your own life once the key is out of the ignition. When you own the business, the paperwork and other responsibilities never go away.

As a company driver paid by the mile, you don’t care about the freight rate in any given area or lane, but when you own the truck, you do.

Are you willing to live on less money?
It’s likely you’ll have to cut spending in order to support the business. Prepare yourself and your family for how it will feel to make those sacrifices.

Are you willing to work more hours?
In the beginning, you will need to drive 70 hours a week and spend extra hours behind the scenes to keep the business running. You’ll also need to continue your professional training in order to grow the business. But with proper planning, much of the additional work can be accomplished while you’re on the road without taking hours away from your home time.

How does your spouse feel about this venture?
There are going to be tough times and hard decisions to make, and nothing will sabotage this venture faster than fighting about it with your spouse. Such disagreement can make every day miserable, but teamwork can make it a wonderful adventure that strengthens your relationship.

[timeout]

you can make a good living with a truck. the secret is go where the money is. containers are not it. container rates really suck. i saw adds on craigs list over the past few weeks looking for o-o's. $.92 per mile to $1.05 per mile. that's a joke. even if that were true mileage the pricing is low ball. you can't make a living and pay for a good piece of equipment for those prices. the big carriers say they are losing money lower then $1.73 per mile so how can any single driver operate a truck for a buck a mile? your fooling yourself if you think that's possible. one problem we face is low ball companies can't find o-o truckers so they create driver truck lessors who think one day they'll own that truck they lease from the company. that has a 92% failure rate. some of these trucks involved in that have dozens of drivers try pay for them before they are total scrap. i have had several friends do this and tried to warn them but they went for it anyway. not one paid for truck or lasted more then eight months. it's a huge scam drivers. you can't win the odds are against you from the first week. this is all great for the company not you. they don't pay employee taxes and always have some fool paying for the same truck over and over. a fleet truck the bought at auction can fetch ten times the amount paid by leasing it out to own. it's like these places that rent you a "lease-to-own"$500 dollar TV but in the end it becomes a $1,200.00 dollar TV except this is a much larger scale with a "lease to own" truck. you don't hand over nine tenths of your paycheck each week for that TV but you do for the truck.

[mark]

ur right. these company lease2own trucks are killing the rates. most these guys have to run what ever dispatch gives them or turn the truck back in. they work for peasant wages trying to make truck payments each week. the day that lease2own racket stops the rates will go up. i do not know what the answer is but this type truck leasing should be against the law. it's bad for all of us out here having to compete with a 0 down lease truck that the driver will lose anyway.

[HardTimeTrucker]

No matter how good they make it sound entering into a truck purchase agreement with the company you're leasing to is most always a bad decision.

[TOMMY]

SAY NO TO CHEAP FREIGHT. IF ENOUGH DRIVERS TAKE THAT STAND THERE WILL BE NO MORE CHEAP FREIGHT. NO ONE FORCES YOU TO TAKE A CHEAP LOAD BUT SOME ACT LIKE THEY HAVE TO OR BE FIRED. IF THE COMPANY HAS THAT ATTITUDE LEAVE. IT WILL BE THE BEST CHOICE YOU MADE. SOON WHEN THERE ARE NO TRUCKERS TO HAUL THEIR FREIGHT THEY WILL HAVE AN ADJUSTMENT TO THEIR WAY OF THINKING! SO WILL ALL THE OTHER CHEAP BAST@RDS. THEY CAN'T MOVE CHEAP LOADS UNLESS WE DO THAT FOR THEM SO STOP DOING IT TODAY!

[jody]

the companies will sell a truck to any warm breathing body to shed there responsibility. call these rookie steering wheel holders a lease trucker and they are off to the races with no idea how much a truck cost to operate. the federal boys cannot way keep up with who should not be running a truck or who is real owner. this is one big circus now.

[rudy]

the ones i see who try pay for the company leased trucks will work no matter what the money. the company has them right where they want that driver to be.