Advice re: getting started in this business

[wantobeownerop]

My friend and I are seriously considering purchasing a used truck and becoming owner operators. We would like some advice on how to get started. He has been driving for several yrs and I would be new at it.

Any advice on what type, year, number of miles & etc regarding purchasing a truck would be greatly appreciated.

I guess my first question would be; is it a good time to get into this business? What kind of real money could someone expect to make after paying all their expenses?

Thank you,
CR

[NORTHERNHAULER]

have you ever drove before?
advice on what type of truck? i run a KW others run freight shakers some run volvo and the list go's on.year 03 or newer.miles under 600.
is it a good time to get into trucking? no ,but its up to you.
the freight is coming back but its slow.feast or famon.

[wantobeownerop]

Thanks for the reply Northernhauler!

No I have not driven big rigs only box trucks, limos & currently drive for Fedex.

We have been looking at Peterbilts & KW's. Not sure about the differences in the number of "speeds 10, 13 or 18")? What about wheelbase?

Can you keep a steady flow of runs coming to make a decent living?

Is Dry Van or Flatbed better? I understand Flatbed pays more?
What is the avg percentage of fuel rebate paid for by the company you dispatch for?

Does the owner op pay for all the ins on the truck or does the compay you run for help with that and how much coverage to you need & what does it cost?

Are you an Owner Operator?

Thanks for your feedback!

[NORTHERNHAULER]

Originally Posted by wantobeownerop

Thanks for the reply Northernhauler!

.you should go and train with your friend befor you jump head first into the abyiss.

there is some diff but it all depends on the driver.i use to run an 18 but i got sick of shifting all day.

this is a hard question becouse some drivers do verry well and others go under.7 years ago the freight pay was the best i had ever seen it and its gone down hill from there.

depends on what you want to haul.flat bed does pay a little more but you gota work for it tarping sux.as for the fuel rebate i dont know im not leased with any one.

if the owner op is leased on with some one then the comp will offer ins at a discounted rate.were im not leased i have my own athority some times its nice but other times its a pain in the *****.

yup but some days i wish i wasnt.

Thanks for your feedback!

i have been at this a long time so im going to give you the best advice that i know.Befor you go buying a truck get some exp.dont go jumping head first into the abyiss with out looking.becouse there are some big sharks out here that will eat you up. good luck and i hope you make a go of it.no harm in dreaming.

[pro1driver]

Originally Posted by wantobeownerop

My friend and I are seriously considering purchasing a used truck and becoming owner operators. We would like some advice on how to get started. He has been driving for several yrs and I would be new at it.

Any advice on what type, year, number of miles & etc regarding purchasing a truck would be greatly appreciated.

I guess my first question would be; is it a good time to get into this business? What kind of real money could someone expect to make after paying all their expenses?

Thank you,
CR

friends or not, you should seek legal advice. you SHOULD HAVE a legal document spelling out the new (soon to be) partnership. its one thing to "say" what you two will each be responsible for, its another thing to back that up in court, should you two split and file bankruptcy.

then there is the financial end of the start up costs..........

who's footing the bill, one of you, or both of you. if one of you has a bad credit history, the other guy has to pull more weight, and thusly now, he can demand MORE money for each trip over the other guy. you really want this to happen...??

best bet here is to either be an employee only to the "friend", or strike out on your own.

the LEGAL ends of a partnership will sour the friendship so much, you'll each be willing to kill one another.

i do not recommend friends in becoming business partners.

father/son, mother/daughter, bro/bro, sis/sis, MAYBE.......but not friends.

if one guy "high tails it outta there", the other guy is stuck 100% with all the BAD DEBT................

in a "family" situation.........sooner or later, the family "catches up" to one another.....

[Cerberus_Kelpie]

One of my Cousins had a go at Straight Truck Trucking with a Business partner and after a year or so of them doing the deal OTR they tried finding other drivers and quickly enough got soiled by the whole business, sold their equipment and completely discarded the whole idea of EVER doing such again.
My Cousin went back to being a Chef or selling Real Estate.

I believe they were simply TIRED of being OTR so much and the prices of EVERYTHING.
---
THERE ARE A LOT OF EXPERIENCED DRIVERS OUT OF WORK NOW some with and some without equipment.

Just remember:
ANYONE can make a small fortune in Trucking if first they start with a large one.