Considering Schneider Ic Choice. Advice?

Topic 23074 | Page 2

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Will H.'s Comment
member avatar

I am not a driver yet, but I am a trained accountant. As everyone has said when you have your own business you must put money aside and anticipate depreciation.

You must know the true cost per mile and I am not taking about just fuel. I am talking about tire wear-and-tear, routine maintenance, repairs (anticipated and unanticipated), and so forth. I wonder if there is a program or spread sheet or some kind of data source that has expected cost per mile broken down by item. And then theres the fixed cost like the lease and insurance. Also Many new businesses owners forget or under estimate taxes.

As someone said before treat it like a business and pay your self as if you where your own employee and be able have enough saved to go through times with no income and still be able to pay the bills.

If I where to go this route I would talk to a CPA that has experience in the trucking industry and break down the numbers with them; I feel that this would be a wise investment even with my training and degree in accounting.

Sorry just my random 2 cents.

G-Town's Comment
member avatar

That’s only the tip of the iceberg Will...

Confessions of an Owner Operator

Owner Operator:

An owner-operator is a driver who either owns or leases the truck they are driving. A self-employed driver.

Grumpy Old Man's Comment
member avatar

I am not a driver yet, but I am a trained accountant. As everyone has said when you have your own business you must put money aside and anticipate depreciation.

You must know the true cost per mile and I am not taking about just fuel. I am talking about tire wear-and-tear, routine maintenance, repairs (anticipated and unanticipated), and so forth. I wonder if there is a program or spread sheet or some kind of data source that has expected cost per mile broken down by item. And then theres the fixed cost like the lease and insurance. Also Many new businesses owners forget or under estimate taxes.

As someone said before treat it like a business and pay your self as if you where your own employee and be able have enough saved to go through times with no income and still be able to pay the bills.

If I where to go this route I would talk to a CPA that has experience in the trucking industry and break down the numbers with them; I feel that this would be a wise investment even with my training and degree in accounting.

Sorry just my random 2 cents.

All that is one of the reasons I am switching. I'm tired of all the paperwork, taxes, the expense and other clerical part of running a business. If I weren't in NY, it might be less of a pain, but I'm ready to let someone else worry about all that stuff.

Grumpy Old Man's Comment
member avatar

That’s only the tip of the iceberg Will...

Confessions of an Owner Operator

This was a good read, and another reason I am switching careers.

I agree, I would never buy/lease a truck. As an owner of a business, your work is never done. I have been working all weekend, but only a couple of hours of that is billable. I have worked 20 hour days many times, and I am nowhere near getting rich, there is just so much more involved that as a one man show, there isn't enough time in the day to do everything. Nothing like a long day at work, coming home dead tired, eating dinner, watch an hour of TV with the wife, then 5 to 6 hours of work in my office before I can sleep.

Owner Operator:

An owner-operator is a driver who either owns or leases the truck they are driving. A self-employed driver.

Steven B.'s Comment
member avatar

I appreciate all the words of wisdom. I have about 2 years expertise running otr. I don't know everything and i learn every day. The main reason fir tge consideration isthe freedom to pick my freight. I have family all over the country and made it known to every companyi would work for that being able to visit those cities would make me very happy. Not a single one was ever able to get me there. I kabir this isn't a travel agency but why not get some joy outof itif i can? I'm willing to make the same as a company driveras longas i am getting what i want ort of the deal. I appreciate it and please keep the advice coming and DRIVE SAFE!

OTR:

Over The Road

OTR driving normally means you'll be hauling freight to various customers throughout your company's hauling region. It often entails being gone from home for two to three weeks at a time.

HOS:

Hours Of Service

HOS refers to the logbook hours of service regulations.
Pete B.'s Comment
member avatar

Steven B., I gotta tell you, that’s a terrible reason to want to enter the IC world, to visit specific cities in mind. Yes, with 2 of the examples cited earlier, Landstar and Schneider, you pick your own loads, so you could theoretically visit friends and family in cities you find loads going into, out of, or through, but not all loads pay the same, and now you’re talking about sacrificing profitability for the joy it gives you to visit unseen cities and catch up with relatives or friends. Not a good business plan.

Big Scott (CFI Driver/Tra's Comment
member avatar

What cities can't you get to for home time? There are very few places you couldn't get to for home time with planning. With CFI, we don't lose the days we earn and can take as many days as we want and keep the truck. Wanting to own or lease, so you can go where you want and when is the worst reason. Freight isn't the same everywhere. You could have a hard time getting loads out of certain areas.

Old School's Comment
member avatar
Steven B., I gotta tell you, that’s a terrible reason to want to enter the IC world, to visit specific cities in mind.

I'm in hearty agreement with Pete B on this one.

Steven, here's what you said this...

I have family all over the country and made it known to every companyi would work for that being able to visit those cities would make me very happy. Not a single one was ever able to get me there.

It's an unusual statement because it shows you don't understand how you make something like this happen. You don't just tell them you'd like them to get you to these random cities when or if they can. They don't have the time or the motivation to be thinking about your random visits to friends or relatives. What you do is put in a home time request on the Quallcomm with the specific dates and specific zip code and city name that you want to visit. Do that a couple of weeks in advance, and then stay on top of the communication concerning that with your dispatcher.

My children are spread out all over the place and I see them regularly. Part of enjoying this job is learning how to communicate effectively with your dispatcher. It makes a world of difference in both your success and enjoyment of this career.

Dispatcher:

Dispatcher, Fleet Manager, Driver Manager

The primary person a driver communicates with at his/her company. A dispatcher can play many roles, depending on the company's structure. Dispatchers may assign freight, file requests for home time, relay messages between the driver and management, inform customer service of any delays, change appointment times, and report information to the load planners.

HOS:

Hours Of Service

HOS refers to the logbook hours of service regulations.
Steve L.'s Comment
member avatar

Steven B, I agree 100% with Old School’s suggestion. It’s exactly what I did as a company driver for Schneider and it worked.

With Schneider Operating Centers all over, it can be done. What cities are you looking to get to?

I also agree your reasoning is a bad one for going IC Choice. What are you going to do if you sign a lease agreement and then find out the reason they never sent you to Funkstown, Maryland is because there isn’t any freight going there? But if you wanted to visit family there, you could get hometime at the Carlisle OC (which is right up I-81 from Funkstown) and the family could come pick you up.

Also, Schneider has many drop lots that they’ll let you park your truck at. Give us some cities and maybe we can help.

I’m surprised your DBL isn’t helping you with this.

Steven B.'s Comment
member avatar

I misinformed you guys, i apologize. Dallas, tx and fort collins, co are the two major areas i would like to frequent. I live in mid michigan. I know schneider has a big customer close to my home and an OC in Dallas but Colorado doesn't look good. My major concern is Dallas. There are parts of the country i want to see, the northeast being one of them but I'm not sure if i want to experience it in a truck lol i know if i want to make money, i'l have to be out for a few weeks then take time off. I was thinking of staying midwest except for runs to Dallas and if i find good loads in and out of other parts. I didn't plan on using my business as a travel agency, i was just saying the freedom to go to those places and be paid to go intrigues me.

HOS:

Hours Of Service

HOS refers to the logbook hours of service regulations.
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