Owner Operator
Topic 17954 | Page 1
We really don't discuss this type of stuff here (O/O or Lease).
There are guys here that DO LEASE (and a few that might have made the jump to O/O) - but out of respect for the site - they refrain from discussing it here.
We do ONE THING VERY WELL.
That Is:
Help NEWCOMERS TO THE INDUSTRY learn about the trucking industry, how to get your CDL and get hired. We prefer to maintain our focus here on that - and refer folks to other places where their questions might be better answered, by a user base that has more experience than we do in those matters.
Rick
CDL:
Commercial Driver's License (CDL)
A CDL is required to drive any of the following vehicles:
- Any combination of vehicles with a gross combined weight rating (GCWR) of 26,001 or more pounds, providing the gross vehicle weight rating (GVWR) of the vehicle being towed is in excess of 10,000 pounds.
- Any single vehicle with a GVWR of 26,001 or more pounds, or any such vehicle towing another not in excess of 10,000 pounds.
- Any vehicle, regardless of size, designed to transport 16 or more persons, including the driver.
- Any vehicle required by federal regulations to be placarded while transporting hazardous materials.
HOS:
Hours Of Service
HOS refers to the logbook hours of service regulations.
Let me give you an idea of why your wife was right to say it scares her. I am One of the people on this forum who have gone owner op. Two weeks ago, another driver backed into my truck. Now, insurance company is covering the cost of the repair, but getting it done is taking quite a while due to several issues. Because of this, I am obviously not earning any money while I am down. At the same time, none of my payments have stopped. My last settlement check was -2500. Yes that is a negative number and each week I don't done that will get worse. And this is just one of the many things that can go wrong.
Honestly 3 months solo is not a good time in your career to go this route. I'm flatbed as well, and as you know we got enough to worry about. Others will chime in on the ups and downs of o/o work. If you feel you still want to give it a shot after all the info you gather, at least get some more experience in.
I know 3 months is premature. But I'm s numbers guy and I was just curious if my numbers listed above were in the right ball park. I understand that if you don't run, you don't make money. Just curious.
Yea I'd say stay company for a while and learn the game on their dime. Maverick has o/o as well but I'm not interested.
Yeah you're much better off contacting someone like OOIDA for help. They do that kind of stuff full time. We avoid those conversations altogether because it's not what we do.
OOIDA:
Owner-Operator Independent Drivers Association
Who They Are
OOIDA is an international trade association representing the interests of independent owner-operators and professional drivers on all issues that affect truckers. The over 150,000 members of OOIDA are men and women in all 50 states and Canada who collectively own and/or operate more than 240,000 individual heavy-duty trucks and small truck fleets.
Their Mission
The mission of OOIDA is to serve owner-operators, small fleets and professional truckers; to work for a business climate where truckers are treated equally and fairly; to promote highway safety and responsibility among all highway users; and to promote a better business climate and efficiency for all truck operators.
HOS:
Hours Of Service
HOS refers to the logbook hours of service regulations.New Reply:
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So I am new to trucking, like 3 months solo experience and my wife made a comment one day about me owning a business and I was like. Why not go owner op? She was like uhhh that scares me. I had a buddy who was and who he was leased to wasn't giving him enough loads and ended up selling his rig and going company. So I thought on this possibility. Granted I still know little but am learning, I was wondering if my numbers I've been watching have been somewhat accurate.
I work for TMC. And I know what they pay owner ops here. I used their percentage for what loads I've been getting. Here is my calculating numbers
75% of each load. Fuel surcharge ( I used .30 cpm) not sure if that surcharge is for loaded only or both bounce and loaded. 250 week towards truck payment. Assuming monthly payments are 1,000 .35-.40 cpm for wear. And 300-500/week for elogs and other items of expense.
Using these numbers my gross after fuel and expenses with these numbers have been 1300-2000. Which then a percentage of that would be put back for taxes. Am I on the right track? Lol I'm not jumping into it but if I can get an idea, maybe being an o/o won't be so scary for my wife lol
Elog:
Electronic Onboard Recorder
Electronic Logbook
A device which records the amount of time a vehicle has been driven. If the vehicle is not being driven, the operator will manually input whether or not he/she is on duty or not.
Elogs:
Electronic Onboard Recorder
Electronic Logbook
A device which records the amount of time a vehicle has been driven. If the vehicle is not being driven, the operator will manually input whether or not he/she is on duty or not.
CPM:
Cents Per Mile
Drivers are often paid by the mile and it's given in cents per mile, or cpm.