i think he is erring on the side of caution here. 5 years is a good amount of time to see a variety of work. If you work for a company for 18 months there is a good chance you've only done flatbed, and maybe some dump. After 5 years you will have seen enough to a) become a really efficient driver and b) you know what you will love. Flatbed isn't for everyone.
Yeah and depends if you are getting a" walk away lease" or going after your own rig I'd say 1 to 2 years for a true walk away lease with maybe only penalty being a months payment or about 3 years for your own truck and 5 to 8 years for your own truck, trailer and authority. Sure you could be successful with less time or you could fail miserably and lose it all. I rather put some time in and learn the market I wanna enter before putting skin in the game.
Also depends how much cash you got going into it and the season going in with no reserve in October is a quick way to the poor house. Going in on it in March or April with 10k in the bank and a new truck will really give you the start you need to be successful, anyone that has done a winter in a truck knows how much money it can cost you from the interstate shutdowns to just equipment not wanting to work right cold and salt are a trucks worst enemy.
You forgot number 8... Learn to and be able to work on your own truck. Sounds silly but I am very mechanical and I save THOUSANDS every year by working on my own truck, changing my own oil, changing my own tires, doing my own repairs. Sure sometimes you have to take it to a shop but in the past 7 years, my truck has only been in a shop twice! Sure that means taking up part of my home time to work on my truck but at least I know I saved a ton of money and that it was done right or if something goes wrong after, the only one to blame is myself and I know how to fix it. I am not poor, broke, or a cheap ass but I also dont like trowing away money when I know I am capable of doing something myself and also, I cant justify paying a shop $150+ and hour for a 6 hour job to replace a $150 part. Its bad enough the dealers and truck stops overcharge you for parts... Shop around for parts too. I have saved thousands also by buying from places other than dealers and buying parts online. I know waiting for parts isnt always an option but when it is, I will always buy online or from somewhere other than the dealer when I can. Example, I just save $450 on a NEW turbo for my truck by buying from an outside truck parts place vs going to the dealer and changed it myself in 5 hours. Win win for me.
T Hollins 18 years out here, 15 of that as an owner operator. Owned 4 trucks, paid every one of them off and truck I have now, haven't had a payment in about 8 years on it. Depending what happens with this eld thing, I just might hang it up. Sadly my truck was built during the model year change over month of 1999, so it got titled as a 2000 and seeing I have no payment, no hurt feelings here if I park it and walk away.
While I'll agree with you for the most part, there needs to be a couple caveots here: 1) Know your limitations and abilities, some folks are just not mechanically inclined and could end up costing themselves more money than they tried to save. Just know that most things on a truck are big, expensive and not easily replaced should you break something cause you didn't know what you were doing.(see number 4). 2) Know whether or not what you are about to mess with is covered by warranty or not (ex. a turbo or injector pump, etc.). If it is, stop what you're doing and take it to a dealership to work on it, you paid for a warranty, use it. If it is not, or you are not sure about what you are doing, stop what you are doing and ask somebody for help.(see number 4). 3) Use the right tools for the job at hand. Now you don't need to own a 200+ thousand dollar diesel mechanics tool set to do the job, but don't use vice grips or channel locks (aka. adjustable pliers) on a fitting when you should be using a wrench or at the very least a crescent wrench (aka. adjustable wrench). If you don't have the proper tools, don't mess with it until you do have them (see number 1). That said, you can go to an auto parts store (AutoZone, Napa, Western Auto, etc, depending where you are on this rock of ours.) and either buy the tools you need, or if it's a specialty tool, you can rent them for a small fee vs the expense of buying it. Also, these folks (at the autoparts stores) can be a source of information for you to utilize, and most of them don't charge you for answering your questions. So ask them, at the very least if they don't have the information you need, they can point you in the right direction to find it.(see number 4) 4) And finally, if you are here reading this, you have at your finger tips two of the greatest sources of free information that you can ever have, Google and UA-cam, as chances are likely that somebody has done a video explaining how to diagnose a problem and fix what ever it is you are working on. Even if if you think you know what you are doing, before you even put a wrench on the truck, search it out on UA-cam, you just might find some information that you didn't know about it. Beyond that, Google is your friend, chances are likely a Google search will lead you right back here to UA-cam. But it could also lead to more information at another source that you never even knew about, including some forums where truckers (and some mechanics) hang out and discuss problems they've had with their trucks. The bottom line, in trucking (as with most things), time is money. Know whether or not you are going to save a couple bucks in parts or labor buy fixing it yourself but will cost you more downtime cause it took you longer to fix it, rather than the expense of having it fixed by a mechanic but saved you some downtime. The name of the game here is, minimizing your downtime, cause you're not making money when you are down irregardless of whom is fixing it. Weigh the cost vs benefits for the given problem, and do what's within your abilities vs what you might gain by having someone else fix it.
Without a doubt, this is one of the "Most Informative" videos on the internet for those looking to become an Owner Operator - Thank You so much for taking the time in sharing your professional knowledge !
5 years??? I became an OO after 2yrs of getting my CDL The longer you're a company driver, the harder to become a OO A caged lion cannot survive in the wild The biggest obstacle when transferring from Co to OO is the mentality. No shop or boss to pay for your repairs
Excellent Commentary,ive been a driver for 20 yrs and this couldn't have been told any better than this gentleman has told it. good luck im home every day less stress,.cmpy drvr of course.and this is trucking,...good night.
I’m single, my kids are grown. My dog is going to come with me. Have at least 4 x’s what you suggested for cash on hand. I just got my permit. Starting trucking school in a few weeks. Hoping to be owner operator after 2 yrs max. Time for a career change! So excited.
Thanks Smart Trucker the info you give is very helpful i wish all drivers now days was like the old days help other now matter who you are. Keep up the good work 👏 👍
Like the video... and I shared it on my Facebook. I will be starting my own videos, but I think that having other perpectives helps. You covered things that I have no experience with.
A wise man , true words ,great video , personally I wouldnt get back into the O/O end of it I hate logs ,taxes , the IRS , paperwork and payments and insurance maintenance costs etc. Money can be had as O/O but it would cut into my drinking time. 11.00 x 24.5's prefer over 22.5's ,and do not like lo-pro 's at all . 24.5's last longer , they dont get nearly as hot as the 22's they ,wear faster only negative for 24.5's is you lose 2 inches of clearance making some over passes like thse in Chicago and older cities a bigger pain than it already is .
Speaking of big tires and overhead rail rail road bridges where the road has been lowered for traffic to clear . NEVER trust the that yellow (Clearance 13'6" ) sign on the bridge or that protection steel girder either for that matter .After 2-3 street re-pave jobs you could lose a few inches of clearance .They ( city or Rail Road ) rarely if ever change the yellow clearance warning signs
Expect to put in much more time as an OO. Your now a competitive business owner. 5 years is relative to your lifestyle. Are you a single driver? Are you always asking dealers and anyone questions ? What s your LQ: Learning Quotient.
When you said someone should do the books while you are doing driving, you mean log books or some other type of financial paper works ? Very informative video.
When specing out a highway truck should consideration ever be given to an automatic transmission? If not if not, when should they be considered. This could be a video topic. Michael Bradley
what can be done if a garage and Peterbilt might be in colusion on warranty repairs on the truck? He has basically lost his truck due to these people .
ive been driving for 20 years but just the past year took over a lease another driver gave up. so far its great when computer isnt in derate do to a " computer glitch " ONE CAUTION ON TALKING TO OTHER DRIVERS. WERE I WORK WHICH IS ROAD RUNNER YOU HAVE A BIG GAP IN DRIVERS TIME. WHEN I TALK TO DRIVERS THEY HAVE EITHER BEEN THERE COUPLE MONTHS WEEKS OR EVEN DAYS. ....OR.....THEY HAVE BEEN THERE 10 PLUS YEARS. THERE IS NO MIDDLE GROUND. ME PERSONALLY I HAVE BEEN THERE 18 MONTHS AND THEY TREAT ME LIKE IM DONALD TRUMP BUISNESS GENIUS. TO MANY GUYS GO OUT TO SAY EAST COAST TO WEST COAST AND BACK HOME AND LETS SAY THEY POCKET 5,500....WELL HOT DAM THERE WEEKEND RICH AND DONT WANT TO GO BACK OUT TILL THAT MONEY RUNS OUT OR ATLEAST TAKE A WEEK OFF. BUT YOU STILL HAVE TO PAY TRUCK BILLS THE WEEK YOUR OUT OR LONGER. THEY FALL BEHIND AND CANT MAKE MONEY AND WANNA BLAME THE COMPANY CAUSE OF THERE LAZINESS. TALK TO PEOPLE BUT ALSO BE CAUTIOUS WHO YOU TALK TO. I WAS THROWN IN THIS BASICALLY AND LIKE MY CORDINATOR SAID ITS SINK OR SWIM AND YOU CAN SINK FAST. THIS IS WHAT I DID TO START OUT. AT MY PREVIOUS JOB I BROUGHT HOME ROUGHLY 1,000 A WEEK. SO I OPENED 2 DIFFERENT ACCOUNTS AT MY BANK. EACH WEEK I PUT A 1000 IN ONE ACCOUNT FOR WIFE TO PAY BILLS. THE REST WENT INTO THE OTHER ACCOUNT. I DONT CARE IF IT WAS 300 OR 3000 CAUSE I HAD NO CLUE WHAT WAS GONNA HAPPEN PLUS TAXES WERE ON THE HORIZON. YOU WILL NEED THAT MONEY CAUSE I PROMISE SOON AS YOU MAKE HEADWAY SOMTHING WILL HAPPEN. IF YOU CAN COMPREHEND THAT THE MONEY AT THE END OF THE WEEK IS NOT LITTERALLY ALL YOURS TO SPEND YOU COULD PROBABLY DO OK. BUT IF YOU GET A CHECK FOR 4000 AND FIRST THING THAT COMES TO MIND IS A NEW FLAT SCREEN TO WATCH THE CONNOR MAYWEATHER FIGHT ITS NOT FOR YOU. BETWEEN SEPT AND END OF NOVEMBER I BANKED ROUGHLY TEN THOUSAND PUT TRUCK IN SHOP DURING DEER HUNTING 1 WEEK PAID MYSELF AND TRUCK WORK SLOWED NEXT WEEK IN DEC BY FEB I WAS RUNNING LOW ON MONEY. FEB TO APRIL GOT BACK TO 10 GRAND AND COMPUTER STARTED GLITCHING AND DERATEING. WENT IN SHOP THREE SEPERATE TIMES A WEEK AT A TIME ITS NOW MAY 17 AND IM BACK DOWN TO 1500 IN SAVINGS. ( I RAISED HOLY HELL IN SHOP AND THREATEND A LITTLE TO LEAVE THE FN TRUCK THERE AND UBER MY BUT TO A NEW JOB) SO I THINK THEY GOT IT THIS TIME. BUT THE MORAL IS IF I DIDNT SAVE MONEY RIGHT OFF THE BAT I COULD HAVE BEEN DONE ALMOST RIGHT AWAY. NEW TRUCKS HAVE ISSUES ALOT ALSO BE PREPARED TO PAY YOURSELF AND BILLS IF ONE ARISES. ANOTHER IDEA PEOPLE DROP LEASES ALL THE TIME TALK TO THESE COMPANIES AND SEE IF YOU CAN PICK UP WHATS LEFT OF LEASE. THAT WAY YOUR NOT LOCKED IN FOR 4-5 YEARS. I PICKED UP THE REMAINDER OF A LEASE ITS ONLY 18 MONTHS. THAT GI VES ME A YEAR AND A HALF TO SEE IF ITS A FIT. BUT I HAD TO TAKE A USED TRUCK. AND THE WARRANTY DONT RESET FOR YA. BUT AGAIN ITS ONLY 18 MONTHS. SO FAR I HAVE BEEN PLEASENTLY SURPRISED. COMPUTER GLITCH WAS A BIG ISSUE BUT I JUST PAID MYSELF TO STAY HOME. OOOOOHH ONE MORE THING THIS IS A MUST. LINE YOURSELF UP WITH A TAX ACCOUNTANT THAT IS VERY FAMILAR WITH TRUCKING NOT SLIGHTLY FAMILIAR OR KINDA. A GOOD ACCOUNTANT CAN MAKE YOU OR BREAK YOU. REMEMBER THEM ON CHRISTMAS BIRTHDAYS AND CHECK IN ONCE A MONTH TO SEE IF THEY NEED THERE GRASS CUT OR POOL CLEANED. MY WIFE HOUNDED ME ON TAXES SO I TOOK THEM TO WHAT I THOUGHT WAZ A REPUTIBLE PERSON AND TWO DAYS LATER I WAS CURLED UP IN CORNER SUCKING MY THUMB TRYING TO FIGURE OUT HOW I SCREWED UP. A FRIEND SAVED ME BY GETTING MY PAPERS AND TAKING THEM TO HIS GUY. AFTER BLOWING SMOKE UP MY BUTT ON HOW GOOD I DID ON RECORDS MY FIRST ATTEMPT THEN 2 DAYS LATER I WAS SIGNING PAPERS FOR A 3000 DOLLAR REFUND AFTER JUST PRAYING TO NOT OWE OVER 3000. THE DIFFERENCE WAS HE KNEW EVERYTHING ABOUT DEDUCTIONS. 1. ASK QUESTIONS ALOT . GO TO SUCCESFUL DRIVERS. DONT ASK A PERSON WHOS FAILING HOW TO SUCCEED. ASK YOUR CORDINATOR WHO YOU CAN TALK TO THEY KNOW WHO KNOWS THERE CRAP. ALOT OF PEOPLE I TALKED TO WHO BAD MOUTH THE COMPANY. HAVE SELF INFLICTED ISSUES. PICK N CHOOSE YOUR INFO INTAKE. 2. NO HOW MUCH MONEY YOU NEED TO SURVIVE ANS BUDGET YOURSELF BEFORE YOU EVEN GET A CHECK. ( YOU CAN TREAT YOURSELF LATER) 3. FIND A GOOD ACCOUNTANT THAT KNOWS TRUCKING. 4. AND EVEN IF YOUR NOT RELIGIOUS PRAY A LITTLE ANYHOW CAUSE A LITTLE LUCK OR GODLY INTERVENTION CAN GO A LONG WAY IF YOU BANK THAT LUCK.
I think I did do a video on that, but if you missed it,my take on them is that we won't have them replacing us in our lifetime. the technology and the road infastructure isn't even close to being ready,let alone the regulations or the insurance companies. They may never happen at all. Dave
REALLY? That's your advice? Buy a NEW truck? BAD ADVICE BRO! Now you have a situation where you incur a tremendous amount of debt and not turn down work and oh by the way there is ALOT of competition out there so your ended up stuck!!! Pay a little extra and get a mechanic to do a thorough inspection on the truck before you but it. Also use higher grade oil and change it on a regular basis!
Also your information is not even close 7 things to become an owner operator wow! No disrespect but you have no clue what it takes to be a owner operator but you sound smart. You don’t know about tires savings either
One thing ill elaborate further on is versatility. Versatility of the driver and the truck! As a lease op you must have a plethora of experience, make yourself invaluable. Start young and build up experience with flat deck, Super B, Liquids, long combination vehicles and freight. No job should be out of your ability. Things change, companies sell out, you might be forced to leave a partnership due to unforeseeable circumstances. Now the tractor... While the argument is always about resale I am more inclined to worry about overall weight, length of tractor. Keep the wheelbase at or near 220, keep weight at or near 9000kg. This can be achieved through a smaller bunk, super 40 axles and though other specifications. While I loved a big 70-80 inch bunk, having a 48 bunk was plenty if you packed right. Keep your horsepower just below 500. Big HP and torque is nice but what I’ve found is it beats the hell out of the driveline and tires. Don’t be too eager to jump on an 18 speed transmission. Due to constantly pulling super B I opted for an 18 but a simple 15 speed or even an 8ll can get you through any situation in North America. (Ask me how I know!) Oh yeah…Go with boring white paint, larger companies love that. Whenever possible keep your road speed at or just below 100kmh. This will save you huge over the period of a year through fuel and reduced tire wear. Avoid excessive idling; be certain the truck you own has auxiliary bunk/ engine heaters with proper timers. A bookkeeper will make or break you, choose wisely in this area! You can save bookkeeping costs by having a daily ledger detailing your expenses and loads, keep it simple! Book keepers don’t like getting a box of receipts at your corporate year end..Well actually they don’t mind at all! They will just charge you extra for something that takes ten minutes to sort out at the end of day. Now, personal care… Whenever possible deliberately park a distance away from where you are stopping for break. Your body NEEDS you to keep moving and active, walking the few extra steps to get your coffee adds up to a healthier you. When dispatch calls you in for that emergency delivery, be the guy that says yes once in awhile. This will help when you want a day off for personal matters, give and take is very important. Repairs…. For the love of God! Expect issues with the truck! Check your attitude at the door when entering the dealer! When having a small repair done at a local Edmonton dealership I was floored at the attitude and abuse thrown towards the staff by lease ops and small business owners. Don’t be an A-hole, put on your happy face and just accept that even the best dealerships are unable to wave a magic wand and have the vehicle operational. Pissing off the service writers and lead hand is a great way to not have them squeeze you in the next time a repair is required. You want that local dealership to think happy thoughts when you step into that door or when they pick up the phone and hear your voice. Pro tip: the odd box of timbits does wonders to better your relationship. When they squeeze you in for a repair when overbooked be sure to show genuine gratitude. Remember they are people too, help make their day better not worse. When having longer repairs done take this time to get out of the mechanic and service writers face. Go for lunch, do some self care. If close to home and have family, go spend a few hours with them! Your truck will be fine without you, not so much your wife and children. Plan your vacations to coincide with expected repairs that occur over the trucks life. If you can’t afford time away for fun, reevaluate why you are doing this to begin with. Time management is crucial in the trucking world, I can’t stress this enough. But this does not mean you have to be a cowboy out there. I’ve yet to see a lease operator that runs over hours, always speeds, always in a rush become rich at this game. Trucking is like the tortoise and the hare, slow and steady will win the race, not sometimes but every time. I could go on but let’s stop here for now. Love your videos Dave, you have serious knowledge. :)
5 years as a company driver? Wow you have more patients then i do. I'm not going to let myself be used and abused for 5 years. Life is too short and precious for that. I jumped into the owner operator side 2 months after driving company. I couldn't tolerate making 35 cents a mile and having to stay out for a month at a time and only being home for 3 days. And on top of that, nobody would finance a truck to me because my CDL is too recent. So i had to do it the old fashioned way and buy an older truck cashed. Give me a paid off truck and let me run regional, and I'm good.
He Miguel am in your shoes Brother , so what company took you with 2 months experience and where did you get insurance, am doing the same thing too.. advice please. Thanks
Kiiri James I never got a notification that you comment. So I'm a little late. Anyways I bought a truck with straight cash, and i leased it onto werner enterprise. Yes I know it's a mega company. But I have no choice due to experience purposes. Well In August I Will have my full year in. And I can bounce to landstar!
Once Again, Great video..👍 I began as a Lease Op right out of school 2yrs ago and couldn't be happier. I've been very successful and now train & pick my own freight. I did have 14yrs experience operating a small business prior to getting into Trucking & I believe that was paramount in my success from the start. My goal is to get my authority in Jan 2019, suspend it until Jan 2020 when I purchace a new truck & trailer. This way my authority is seasoned(1yr) & I can pull freight for any broker once Im ready to go.
I see most of these comments about the 5 years as Dave suggested that it being too long of a wait, and that they jumped in OO side in just 30 days being company drivers and blah blah blah. Oh yeah? Well want to elaborate on how y’all did it? Didn’t think so
What do you think about owner/ operator for more local work? I personally would like to get into more flat bed, low boy, and grain hauling since I come from the farm/ agriculture side of things. I'd like to be home most nights and haul equipment
Not a trucker but a business owner. I agree with all except buying a new truck. You can’t possibly afford a new truck just starting out. That’s a recipe for disaster. It’s the same as starting a business with a huge loan... big no,no!
Good video here. 21 years experience off an on since the early 80's and I've never been an owner operator and it's too late now for me to go that route I think. The information here is very good but the only thing I would take a slight issue with is waiting 5 years working for the same company before making the move. 5 years seems way too long. Cut that in half to 2.5 years and I think the results will be similar. But this driver obviously knows what the hell he's talking about and what he shares here is invaluable to those considering making the move to being an owner operator. I do know one thing about the trucking business that starry eyed youngsters may not know. The profit margin is very small and you have to do EVERYTHING right to be a success at it. For example: The average profit margin for large trucking companies varies between 3 percent to about 4.5 percent so there is little room for error in this business. I do not know what the profit margin is for owner operators but I have been told that their profit margin very low as well. Does this mean you can't be successful as an owner operator ? Obviously no. And there is a large contigent of owner operators who make a good living at it.
I know a guy who was hired as a driver and was promised a signing bonus,something he did not get, it was a slow season for truckers so he let it go but when business picked up he asked when he would get it to which he was told soon but he never got it , all this time he was looking for another trucking job and got 1, he was first in his class and told me the signing bonus was on his first check !! he told me before he left the company lying to him he passed in a envelope with a note inside that said fuck you,your trucks,money and job, I quit !!
Here's my opinion: Never run on your own fuel card, (because if the company goes under your screwed) Never ever sign on when they expect you to work a month before you get your first 2 weeks pay. In Canada some companys want you to haul 60 days or more before you get first full months pay minus costs, "Fuel" - "Insurance" Road Taxes" etc. - Read the various job boards etc. If a company is always looking for drivers, or if drivers are coming / going this indicates a "Problem" - Watchout for the regional companys who expect you to load / unload all day and run all night. "Proper Sleep" is very important. Many regional companys PUSH drivers well beyond limits.
Hey Dave, thanks for sharing! I'm looking at becoming an owner/operator myself, and I appreciate you sharing your insight from your own, personal experience. I found your tips very helpful and informative. If I may ask: in your experience, what type of freight has the best balance between owner/op pay, and headaches dealing with the freight?
Very informative and great video. I think i will wait to take the plunge when my kids have both graduated HS. Too many responsibilities currently, plus I have a local, paid hourly job. In my opinion as an o/o I would try to have/save as much cash as possible. I know credit and credit lines are the way now, but cash is clean. Being free and clear of debt is a great thing for an O/O or a company. Stay safe out there.
Thank you very much sir for this advice about be a owner operator, an the part on how it effects your family an having someone to help you run the company you can trust is very important . In all my 24 year of driving you have explained how to be a owner operator the best, Thank you for advice it's going to help me Decide! if being a Owner Operator or stay Company driver is right for me.
A question for owner operators, how bad the ELD is hurting or will hurt owner operators? Also, How about you get a new truck from dealership and don’t drive it, I mean you work as a company driver get paid and make your payments from your salary- this way you have income as a company drive and make payments for your own new truck that waiting for you until you pay it off ? It might take longer to pay it off. But if you make good money as a company driver maybe you could manage it? Your truck won’t break, because you are not driving it yet . So when you pay it off you gonna have new truck no breaks and repairs yet Just a thought . I’m new into trucking in general and probably don’t know plenty of stuff yet
Wow there are a lot of UA-cam channels out there and everybody's thinks they're an expert but this is the one channel I've come across where you truly have a lot of wisdom to share. Really appreciate the detail and insight and experience you bring to your Channel.
There are advantages to just being an O/O as compared to running your own authority. For instance it's much more secure to know that the carrier will pay you as compared to running your own authority and trying to collect from a load broker. Running your own authority is only better if you have your own direct customers that pay on time. Just one example.
You know, I pretty much did that for years. It looks from your picture that you're married. I don't know how my marriage survived it. I must admit though, the nomadic lifestyle appealed to me. I pulled reefer so that put me in California every other week and got me out of Canadian winters, and I liked that! I guess I'd have to say it depends on your situation, but if you're married and your wife says go for it, I'd recommend it. Dave
Thank you Dave for your views I'm really learning alot about different approaches to this industry and I see you're all about safe Mr. Dave ain't taking no chance.
I very much enjoy the methodical and even keeled delivery with which you present information. I've been a company driver for 7 years and am now starting to think about possibly buying a truck and trailer. I've decided that my tentative goal is to be leased on with somebody by april 2019. I want to raise my credit score and have a savings built up for expenses before I even start looking for equipment. Credible information from people like you helps people like me to follow in your footsteps and maybe avoid some of the pitfalls you encountered along the way. Thank you for the information, the way you deliver it and the respect you have for this industry and the people who look to you for facts about it.
Save enough money to re-build your engine or replace trans etc.. try to fix everything you can yourself until you get at least $50,000 in the bank and you have no debt because a blown motor and then a month later your turbo goes out and you've paid someone $25-$30,000 for all the work and your broke.... I'm new to this but if your someone that's thinking about this you might consider getting away from that cross country driving where you deal with crowded truck stops on big cities with a bunch of idiot swift drivers and hajis everywhere.. there are so many local jobs that are over looked.. the oil patch will bust again but you can kill it while it's running $$$$$ and then move to something else after.. hell you can buy a belly dump or pneumatic and then when it busts go haul feed or lime etc.. yeah the money isn't as good but if your smart with your money while it's booming you can pay damn near everything off etc.. I'm nowhere near an expert but these are some of my opinions thus far..
I run a rental as an owner operator. Look up MG Global Logistics. Call and ask questions Tell them Hubert Pilk sent you. Great video Sir, I left the comment for your viewers. I have to go check out your next video
I saw a company today that is paying $0.90 a mile all miles. I had to look to make sure it was up-to-date information because I was making $0.80 a mile in the mid-90s. I've been back driving a company truck for the past year because doesn't seem too profitable being an owner operator right now. The truck I use is a Mack and if I buy another truck I probably will buy a Mack. truck seems super reliable and the company I work for has some still running at 1.6 million hard miles or more
there is a difference between lease and oo, oo u own ur own truck and u dont have many deductions as leasers, u can lease on with a company and never work miles , get percentage, oo r averaging 2500 to 5000 net a week easy running dry van
You never talk about owner operators or driving or trucks as a woman’s job. How about woman owner operators. How about when the husband hast to go to hundred miles to pick up the wife? Because she dropped her truck off in the shop?🤷🏼♀️🤷🏼♀️🤷🏼♀️
Find a nice Peterbilt 359 or 379 with a fresh pre-DEF Cat or Cummins. PERIOD. The extra money you spend on fuel you'll save on expensive repairs and down time. A new DPF costs thousands of dollars. Check engine lights coming on all the time. The new smog equipment SUCKS. If you can't tell, hire a good diesel mechanic to check the truck over for you. Get a little Yamaha 2000 inverter generator to run a small AC unit or small diesel heater to avoid Idle time. I've seen the small Yamaha turn 15,000 hours. 8 hours on one gallon of gas. Idling the engine will cost thousands over time and extra engine wear and more frequent oil changes. You'll save BIG money. They only weigh 40 lbs.
Thank you for your videos. I'm now a Lifetime Member of OOIDA and at 62, retired veteran but love to drive. I'm financially secure, debt free, and now have my own authority in Arizona but I only wish to lease a new truck. I do reefer and dry van now and have only 2 years CDL OTR but drove our 180k pound mobile missile launch for 24 years. Should I stick with reefer since food is always needed?
I have a question You might be able to answer; I am being given a 1949 International LF semi truck that was once a log truck, but this rig needs to be restored bumper-to-bumper, and because this truck is vary rare now, I’d like to bring this truck back to life, just not as my long-haul work truck. Do You know of a dealer or shop here in SW Washington that might help me bring this truck back to life? I’d like to restore it as a typical 5th wheeler so I can pull pretty-much any trailer if need-be. I know the rear-end needs completely rebuilt, so does the Red Diamond 650 engine and the electrical system needs to be replaced because it still has the old 6v system it had when it rolled off the assembly line in 1949, otherwise it just needs cometic work I can do. Any advice & info You can share will be greatly appreciated. Thanks!👍🏽😉
Somewhere, an accountant crunched numbers & probably realized that even if O/Os make more in the short term, having someone else foot the bill for catastrophic expenses is way more profitable for the carrier than running company drivers. So remember, you might make more for a few months, but if you have a catastrophic event it’ll be YOUR FAMILY that ends up dealing with it. These shady companies wouldn’t push the idea or have lease-ops if it didn’t increase their profits. The day to become an O/O is the day that all these carriers stop telling drivers to do it.
On paper O/O sounds really good, but face the facts: carriers wouldn’t advertise and develop lease op programs and advertise O/O the way they do if it wasn’t more profitable to the carrier. Think of how stingy carriers are, & it should be obvious that they push these programs because it lets them pay LESS than they do for a company driver. Even if some make more as an O/O, the VAST majority will not have that experience.
@@SmartTrucking I drive for a dairy company and I pretty much learnt the job on the first year but as far as starting a business maybe you can take another year or two to learn the business side of owning your own truck. three years top.
5 years at the company level? You're a better man than me, I had to get out of that after 18 months!
Envyecho 5 years is too long. I had to jump into a owner operator 2 months after driving company. Screw that lol
i think he is erring on the side of caution here. 5 years is a good amount of time to see a variety of work. If you work for a company for 18 months there is a good chance you've only done flatbed, and maybe some dump. After 5 years you will have seen enough to a) become a really efficient driver and b) you know what you will love. Flatbed isn't for everyone.
Yeah and depends if you are getting a" walk away lease" or going after your own rig I'd say 1 to 2 years for a true walk away lease with maybe only penalty being a months payment or about 3 years for your own truck and 5 to 8 years for your own truck, trailer and authority. Sure you could be successful with less time or you could fail miserably and lose it all. I rather put some time in and learn the market I wanna enter before putting skin in the game.
Also depends how much cash you got going into it and the season going in with no reserve in October is a quick way to the poor house. Going in on it in March or April with 10k in the bank and a new truck will really give you the start you need to be successful, anyone that has done a winter in a truck knows how much money it can cost you from the interstate shutdowns to just equipment not wanting to work right cold and salt are a trucks worst enemy.
You forgot number 8... Learn to and be able to work on your own truck. Sounds silly but I am very mechanical and I save THOUSANDS every year by working on my own truck, changing my own oil, changing my own tires, doing my own repairs. Sure sometimes you have to take it to a shop but in the past 7 years, my truck has only been in a shop twice! Sure that means taking up part of my home time to work on my truck but at least I know I saved a ton of money and that it was done right or if something goes wrong after, the only one to blame is myself and I know how to fix it. I am not poor, broke, or a cheap ass but I also dont like trowing away money when I know I am capable of doing something myself and also, I cant justify paying a shop $150+ and hour for a 6 hour job to replace a $150 part. Its bad enough the dealers and truck stops overcharge you for parts... Shop around for parts too. I have saved thousands also by buying from places other than dealers and buying parts online. I know waiting for parts isnt always an option but when it is, I will always buy online or from somewhere other than the dealer when I can. Example, I just save $450 on a NEW turbo for my truck by buying from an outside truck parts place vs going to the dealer and changed it myself in 5 hours. Win win for me.
henry bob swillikers Thank you.
Kevin Morris spoken like a true owner operator
T Hollins 18 years out here, 15 of that as an owner operator. Owned 4 trucks, paid every one of them off and truck I have now, haven't had a payment in about 8 years on it. Depending what happens with this eld thing, I just might hang it up. Sadly my truck was built during the model year change over month of 1999, so it got titled as a 2000 and seeing I have no payment, no hurt feelings here if I park it and walk away.
While I'll agree with you for the most part, there needs to be a couple caveots here:
1) Know your limitations and abilities, some folks are just not mechanically inclined and could end up costing themselves more money than they tried to save. Just know that most things on a truck are big, expensive and not easily replaced should you break something cause you didn't know what you were doing.(see number 4).
2) Know whether or not what you are about to mess with is covered by warranty or not (ex. a turbo or injector pump, etc.). If it is, stop what you're doing and take it to a dealership to work on it, you paid for a warranty, use it. If it is not, or you are not sure about what you are doing, stop what you are doing and ask somebody for help.(see number 4).
3) Use the right tools for the job at hand. Now you don't need to own a 200+ thousand dollar diesel mechanics tool set to do the job, but don't use vice grips or channel locks (aka. adjustable pliers) on a fitting when you should be using a wrench or at the very least a crescent wrench (aka. adjustable wrench). If you don't have the proper tools, don't mess with it until you do have them (see number 1). That said, you can go to an auto parts store (AutoZone, Napa, Western Auto, etc, depending where you are on this rock of ours.) and either buy the tools you need, or if it's a specialty tool, you can rent them for a small fee vs the expense of buying it. Also, these folks (at the autoparts stores) can be a source of information for you to utilize, and most of them don't charge you for answering your questions. So ask them, at the very least if they don't have the information you need, they can point you in the right direction to find it.(see number 4)
4) And finally, if you are here reading this, you have at your finger tips two of the greatest sources of free information that you can ever have, Google and UA-cam, as chances are likely that somebody has done a video explaining how to diagnose a problem and fix what ever it is you are working on. Even if if you think you know what you are doing, before you even put a wrench on the truck, search it out on UA-cam, you just might find some information that you didn't know about it. Beyond that, Google is your friend, chances are likely a Google search will lead you right back here to UA-cam. But it could also lead to more information at another source that you never even knew about, including some forums where truckers (and some mechanics) hang out and discuss problems they've had with their trucks.
The bottom line, in trucking (as with most things), time is money. Know whether or not you are going to save a couple bucks in parts or labor buy fixing it yourself but will cost you more downtime cause it took you longer to fix it, rather than the expense of having it fixed by a mechanic but saved you some downtime. The name of the game here is, minimizing your downtime, cause you're not making money when you are down irregardless of whom is fixing it. Weigh the cost vs benefits for the given problem, and do what's within your abilities vs what you might gain by having someone else fix it.
Very good points. Thanks.
Dave is one real professional trucker. Lots of knowledge and experience. Thank you!!!
Hey, thank you sir! Dave
That seat looks so damn comfy dude
Dave great advice. My family has already given me the green light to pursue my dream. 100% backing from my family.
That's good of them! Not all are so understanding! Good luck Gene, I know you'll make it if you want it bad enough. Dave
Smart-Trucking.com Thank you ... I was an otr driver back in the days. Gave it up to be near the girls.
Without a doubt, this is one of the "Most Informative" videos on the internet for those looking to become an Owner Operator - Thank You so much for taking the time in sharing your professional knowledge !
Thank you sir, glad to help! Dave
5 years???
I became an OO after 2yrs of getting my CDL
The longer you're a company driver, the harder to become a OO
A caged lion cannot survive in the wild
The biggest obstacle when transferring from Co to OO is the mentality. No shop or boss to pay for your repairs
Excellent Commentary,ive been a driver for 20 yrs and this couldn't have been told any better than this gentleman has told it. good luck im home every day less stress,.cmpy drvr of course.and this is trucking,...good night.
I’m single, my kids are grown. My dog is going to come with me. Have at least 4 x’s what you suggested for cash on hand. I just got my permit. Starting trucking school in a few weeks. Hoping to be owner operator after 2 yrs max. Time for a career change! So excited.
Finally someone with brains. I was a company driver with 15 years of flat bed. Then 15 years my own Trucks. My own authority. Good advise !!
Wow lots of really great tips thank you I appreciate your time in making this video.
company driver for 7 years looking at going in to owner op.
Thanks for watching Curtis! Dave
I heard today that the dec. deadline for elec. log. was being pushed back😃 would be nice if true.
I had a freight shaker 2012 Cascadia 2.64 rear gears 10 speed with 450 Detroit 70 mph rpm's were at 15.50 started off like crap but it would run :)
Thankz dave you r AWESOME to give great advice here.. i am learning today
Glad to help Derrick! Dave
What a great, very very informative, honest video.
Thank you!
Repair bills and downtime will make truck payments. My dad traded every 4 years before issues started coming up
I appreciate u sharing ur knowledge with us new guys and or those that are seriously considering this career.
Thanks Smart Trucker the info you give is very helpful i wish all drivers now days was like the old days help other now matter who you are. Keep up the good work 👏 👍
Like the video... and I shared it on my Facebook. I will be starting my own videos, but I think that having other perpectives helps. You covered things that I have no experience with.
Thanks for your advices ! Really good video.
If I knew as much as this guy I would be a millionaire by now in trucking.
Fine looking Peterbuilt and another good video. Thanks.
Thanks Marshall! Dave
A wise man , true words ,great video , personally I wouldnt get back into the O/O end of it I hate logs ,taxes , the IRS , paperwork and payments and insurance maintenance costs etc. Money can be had as O/O but it would cut into my drinking time. 11.00 x 24.5's prefer over 22.5's ,and do not like lo-pro 's at all . 24.5's last longer , they dont get nearly as hot as the 22's they ,wear faster only negative for 24.5's is you lose 2 inches of clearance making some over passes like thse in Chicago and older cities a bigger pain than it already is .
I still run big rubber on my truck, but yeah, it can be a little tense in places like Chicago! Dave
Speaking of big tires and overhead rail rail road bridges where the road has been lowered for traffic to clear . NEVER trust the that yellow (Clearance 13'6" ) sign on the bridge or that protection steel girder either for that matter .After 2-3 street re-pave jobs you could lose a few inches of clearance .They ( city or Rail Road ) rarely if ever change the yellow clearance warning signs
Expect to put in much more time as an OO. Your now a competitive business owner. 5 years is relative to your lifestyle. Are you a single driver? Are you always asking dealers and anyone questions ? What s your LQ: Learning Quotient.
When you said someone should do the books while you are doing driving, you mean log books or some other type of financial paper works ?
Very informative video.
Financial books for your trucking company. Dave
When specing out a highway truck should consideration ever be given to an automatic transmission? If not if not, when should they be considered. This could be a video topic.
Michael Bradley
Could be. I know nothing about the automatics. There have to be advantages to them other than they're easier to drive. Dave
Are you saying you can make more money locally with your own truck than over the road? I can't really see that, maybe it depends on where you live!
Really good video bro great advice
theres still $ to be made out there but there's more headaches involved now we have Elogs...keep that in mind for the new bootys
If you knew the owner, why didnt you buy it from him directly, but from a ”lot”?
New truck concept is a good one. Rebuilding a motor before it’s paid off doesn’t make sense to me.
Good Video. Thanks for the info!
Thanks Brian! Dave
Cashed out part of my retirement.Retirement fund isn't paying, so...
what can be done if a garage and Peterbilt might be in colusion on warranty repairs on the truck? He has basically lost his truck due to these people .
Thank you!
You're welcome! Dave
Thank you
When your a owner operator is it better to have a truck note or just cash it out and not have a truck note????
Truck note being a loan, you mean? If so, I like to pay mine off. Dave
Smart-Trucking.com no like have a truck note while your being a owed operator or is it better to not have a truck note while being a owner operator
you are super.very good advise.
ive been driving for 20 years but just the past year took over a lease another driver gave up. so far its great when computer isnt in derate do to a " computer glitch " ONE CAUTION ON TALKING TO OTHER DRIVERS. WERE I WORK WHICH IS ROAD RUNNER YOU HAVE A BIG GAP IN DRIVERS TIME. WHEN I TALK TO DRIVERS THEY HAVE EITHER BEEN THERE COUPLE MONTHS WEEKS OR EVEN DAYS. ....OR.....THEY HAVE BEEN THERE 10 PLUS YEARS. THERE IS NO MIDDLE GROUND. ME PERSONALLY I HAVE BEEN THERE 18 MONTHS AND THEY TREAT ME LIKE IM DONALD TRUMP BUISNESS GENIUS. TO MANY GUYS GO OUT TO SAY EAST COAST TO WEST COAST AND BACK HOME AND LETS SAY THEY POCKET 5,500....WELL HOT DAM THERE WEEKEND RICH AND DONT WANT TO GO BACK OUT TILL THAT MONEY RUNS OUT OR ATLEAST TAKE A WEEK OFF. BUT YOU STILL HAVE TO PAY TRUCK BILLS THE WEEK YOUR OUT OR LONGER. THEY FALL BEHIND AND CANT MAKE MONEY AND WANNA BLAME THE COMPANY CAUSE OF THERE LAZINESS. TALK TO PEOPLE BUT ALSO BE CAUTIOUS WHO YOU TALK TO.
I WAS THROWN IN THIS BASICALLY AND LIKE MY CORDINATOR SAID ITS SINK OR SWIM AND YOU CAN SINK FAST.
THIS IS WHAT I DID TO START OUT. AT MY PREVIOUS JOB I BROUGHT HOME ROUGHLY 1,000 A WEEK. SO I OPENED 2 DIFFERENT ACCOUNTS AT MY BANK. EACH WEEK I PUT A 1000 IN ONE ACCOUNT FOR WIFE TO PAY BILLS. THE REST WENT INTO THE OTHER ACCOUNT. I DONT CARE IF IT WAS 300 OR 3000 CAUSE I HAD NO CLUE WHAT WAS GONNA HAPPEN PLUS TAXES WERE ON THE HORIZON. YOU WILL NEED THAT MONEY CAUSE I PROMISE SOON AS YOU MAKE HEADWAY SOMTHING WILL HAPPEN. IF YOU CAN COMPREHEND THAT THE MONEY AT THE END OF THE WEEK IS NOT LITTERALLY ALL YOURS TO SPEND YOU COULD PROBABLY DO OK. BUT IF YOU GET A CHECK FOR 4000 AND FIRST THING THAT COMES TO MIND IS A NEW FLAT SCREEN TO WATCH THE CONNOR MAYWEATHER FIGHT ITS NOT FOR YOU. BETWEEN SEPT AND END OF NOVEMBER I BANKED ROUGHLY TEN THOUSAND PUT TRUCK IN SHOP DURING DEER HUNTING 1 WEEK PAID MYSELF AND TRUCK WORK SLOWED NEXT WEEK IN DEC BY FEB I WAS RUNNING LOW ON MONEY. FEB TO APRIL GOT BACK TO 10 GRAND AND COMPUTER STARTED GLITCHING AND DERATEING. WENT IN SHOP THREE SEPERATE TIMES A WEEK AT A TIME ITS NOW MAY 17 AND IM BACK DOWN TO 1500 IN SAVINGS. ( I RAISED HOLY HELL IN SHOP AND THREATEND A LITTLE TO LEAVE THE FN TRUCK THERE AND UBER MY BUT TO A NEW JOB) SO I THINK THEY GOT IT THIS TIME. BUT THE MORAL IS IF I DIDNT SAVE MONEY RIGHT OFF THE BAT I COULD HAVE BEEN DONE ALMOST RIGHT AWAY. NEW TRUCKS HAVE ISSUES ALOT ALSO BE PREPARED TO PAY YOURSELF AND BILLS IF ONE ARISES. ANOTHER IDEA PEOPLE DROP LEASES ALL THE TIME TALK TO THESE COMPANIES AND SEE IF YOU CAN PICK UP WHATS LEFT OF LEASE. THAT WAY YOUR NOT LOCKED IN FOR 4-5 YEARS. I PICKED UP THE REMAINDER OF A LEASE ITS ONLY 18 MONTHS. THAT GI VES ME A YEAR AND A HALF TO SEE IF ITS A FIT. BUT I HAD TO TAKE A USED TRUCK. AND THE WARRANTY DONT RESET FOR YA. BUT AGAIN ITS ONLY 18 MONTHS. SO FAR I HAVE BEEN PLEASENTLY SURPRISED. COMPUTER GLITCH WAS A BIG ISSUE BUT I JUST PAID MYSELF TO STAY HOME. OOOOOHH ONE MORE THING THIS IS A MUST. LINE YOURSELF UP WITH A TAX ACCOUNTANT THAT IS VERY FAMILAR WITH TRUCKING NOT SLIGHTLY FAMILIAR OR KINDA. A GOOD ACCOUNTANT CAN MAKE YOU OR BREAK YOU. REMEMBER THEM ON CHRISTMAS BIRTHDAYS AND CHECK IN ONCE A MONTH TO SEE IF THEY NEED THERE GRASS CUT OR POOL CLEANED. MY WIFE HOUNDED ME ON TAXES SO I TOOK THEM TO WHAT I THOUGHT WAZ A REPUTIBLE PERSON AND TWO DAYS LATER I WAS CURLED UP IN CORNER SUCKING MY THUMB TRYING TO FIGURE OUT HOW I SCREWED UP. A FRIEND SAVED ME BY GETTING MY PAPERS AND TAKING THEM TO HIS GUY. AFTER BLOWING SMOKE UP MY BUTT ON HOW GOOD I DID ON RECORDS MY FIRST ATTEMPT THEN 2 DAYS LATER I WAS SIGNING PAPERS FOR A 3000 DOLLAR REFUND AFTER JUST PRAYING TO NOT OWE OVER 3000. THE DIFFERENCE WAS HE KNEW EVERYTHING ABOUT DEDUCTIONS.
1. ASK QUESTIONS ALOT . GO TO SUCCESFUL DRIVERS. DONT ASK A PERSON WHOS FAILING HOW TO SUCCEED. ASK YOUR CORDINATOR WHO YOU CAN TALK TO THEY KNOW WHO KNOWS THERE CRAP. ALOT OF PEOPLE I TALKED TO WHO BAD MOUTH THE COMPANY. HAVE SELF INFLICTED ISSUES. PICK N CHOOSE YOUR INFO INTAKE.
2. NO HOW MUCH MONEY YOU NEED TO SURVIVE ANS BUDGET YOURSELF BEFORE YOU EVEN GET A CHECK. ( YOU CAN TREAT YOURSELF LATER)
3. FIND A GOOD ACCOUNTANT THAT KNOWS TRUCKING.
4. AND EVEN IF YOUR NOT RELIGIOUS PRAY A LITTLE ANYHOW CAUSE A LITTLE LUCK OR GODLY INTERVENTION CAN GO A LONG WAY IF YOU BANK THAT LUCK.
20 yrs?? u should have ur own trucking company
I did have one but I sold it in 2006. Dave
Five years!
That outro is awesome👌👌👌
Stay out of the freight business. Work the oilfield. 10k per week.
Wow great video
Thanks! Dave
Question, what do you mean when you say "final driveline"?
Final gear ratio off the drives in top gear.
What are some tip ig you inharet the truck.
5yrs is to long. I know some guy that’s never drove company and are doing great
A friend of mine once asked me what was the best way to become a millionaire trucking? I told his the best way was to start out as a billionaire.
That's right!
GO TEAMSTERS!
I'm going make sure work this time I'm going. Make right study bet and not. Going be way once was if. I cant then for get it.
Hey Dave, Would you recommend leasing or financing a truck ??
Great video do you still haul with yours?
Happy Father's Day to you
To you too Gene! Dave
can u please adress self driving trucks? thanks
I think I did do a video on that, but if you missed it,my take on them is that we won't have them replacing us in our lifetime. the technology and the road infastructure isn't even close to being ready,let alone the regulations or the insurance companies. They may never happen at all. Dave
Smart-Trucking.com thanks. im only 17 and im planning on trucking but i was afraid.
Smart-Trucking.com whats the title on it?
REALLY? That's your advice? Buy a NEW truck? BAD ADVICE BRO! Now you have a situation where you incur a tremendous amount of debt and not turn down work and oh by the way there is ALOT of competition out there so your ended up stuck!!! Pay a little extra and get a mechanic to do a thorough inspection on the truck before you but it. Also use higher grade oil and change it on a regular basis!
JOSE S 2k a month truck payments for 10 years....yeah..no thanks
Also your information is not even close 7 things to become an owner operator wow! No disrespect but you have no clue what it takes to be a owner operator but you sound smart. You don’t know about tires savings either
One thing ill elaborate further on is versatility.
Versatility of the driver and the truck!
As a lease op you must have a plethora of experience, make yourself invaluable.
Start young and build up experience with flat deck, Super B, Liquids, long combination vehicles and freight.
No job should be out of your ability. Things change, companies sell out, you might be forced to leave a partnership due to unforeseeable circumstances.
Now the tractor...
While the argument is always about resale I am more inclined to worry about overall weight, length of tractor.
Keep the wheelbase at or near 220, keep weight at or near 9000kg.
This can be achieved through a smaller bunk, super 40 axles and though other specifications.
While I loved a big 70-80 inch bunk, having a 48 bunk was plenty if you packed right. Keep your horsepower just below 500. Big HP and torque is nice but what I’ve found is it beats the hell out of the driveline and tires.
Don’t be too eager to jump on an 18 speed transmission. Due to constantly pulling super B I opted for an 18 but a simple 15 speed or even an 8ll can get you through any situation in North America. (Ask me how I know!)
Oh yeah…Go with boring white paint, larger companies love that.
Whenever possible keep your road speed at or just below 100kmh. This will save you huge over the period of a year through fuel and reduced tire wear.
Avoid excessive idling; be certain the truck you own has auxiliary bunk/ engine heaters with proper timers.
A bookkeeper will make or break you, choose wisely in this area! You can save bookkeeping costs by having a daily ledger detailing your expenses and loads, keep it simple!
Book keepers don’t like getting a box of receipts at your corporate year end..Well actually they don’t mind at all! They will just charge you extra for something that takes ten minutes to sort out at the end of day.
Now, personal care…
Whenever possible deliberately park a distance away from where you are stopping for break. Your body NEEDS you to keep moving and active, walking the few extra steps to get your coffee adds up to a healthier you.
When dispatch calls you in for that emergency delivery, be the guy that says yes once in awhile. This will help when you want a day off for personal matters, give and take is very important.
Repairs….
For the love of God! Expect issues with the truck! Check your attitude at the door when entering the dealer! When having a small repair done at a local Edmonton dealership I was floored at the attitude and abuse thrown towards the staff by lease ops and small business owners.
Don’t be an A-hole, put on your happy face and just accept that even the best dealerships are unable to wave a magic wand and have the vehicle operational.
Pissing off the service writers and lead hand is a great way to not have them squeeze you in the next time a repair is required. You want that local dealership to think happy thoughts when you step into that door or when they pick up the phone and hear your voice.
Pro tip: the odd box of timbits does wonders to better your relationship.
When they squeeze you in for a repair when overbooked be sure to show genuine gratitude. Remember they are people too, help make their day better not worse.
When having longer repairs done take this time to get out of the mechanic and service writers face. Go for lunch, do some self care. If close to home and have family, go spend a few hours with them! Your truck will be fine without you, not so much your wife and children.
Plan your vacations to coincide with expected repairs that occur over the trucks life. If you can’t afford time away for fun, reevaluate why you are doing this to begin with.
Time management is crucial in the trucking world, I can’t stress this enough. But this does not mean you have to be a cowboy out there.
I’ve yet to see a lease operator that runs over hours, always speeds, always in a rush become rich at this game. Trucking is like the tortoise and the hare, slow and steady will win the race, not sometimes but every time.
I could go on but let’s stop here for now.
Love your videos Dave, you have serious knowledge. :)
I would love to see a video explaining how to start a small trucking company
5 years as a company driver? Wow you have more patients then i do. I'm not going to let myself be used and abused for 5 years. Life is too short and precious for that. I jumped into the owner operator side 2 months after driving company. I couldn't tolerate making 35 cents a mile and having to stay out for a month at a time and only being home for 3 days. And on top of that, nobody would finance a truck to me because my CDL is too recent. So i had to do it the old fashioned way and buy an older truck cashed. Give me a paid off truck and let me run regional, and I'm good.
He Miguel am in your shoes Brother , so what company took you with 2 months experience and where did you get insurance, am doing the same thing too.. advice please. Thanks
Kiiri James I never got a notification that you comment. So I'm a little late. Anyways I bought a truck with straight cash, and i leased it onto werner enterprise. Yes I know it's a mega company. But I have no choice due to experience purposes. Well In August I Will have my full year in. And I can bounce to landstar!
Kiiri James I have the insurance and plates all through werner
5 years? My brother inlaw jumped straight into it and is doing good
First thing is to get a sweet chair like that.
5 years lol 😂 he trip’n
Agreed. That's nuts. Most companies dish out garbage pay. Owner operator or bust in my opinion.
Once Again, Great video..👍
I began as a Lease Op right out of school 2yrs ago and couldn't be happier. I've been very successful and now train & pick my own freight. I did have 14yrs experience operating a small business prior to getting into Trucking & I believe that was paramount in my success from the start. My goal is to get my authority in Jan 2019, suspend it until Jan 2020 when I purchace a new truck & trailer. This way my authority is seasoned(1yr) & I can pull freight for any broker once Im ready to go.
Good plan John. I can honestly say I loved running on my own authority. I know you'll like it too. Good luck and drive safe! Dave
My advice Buy a cheap truck invest in it,,
I see most of these comments about the 5 years as Dave suggested that it being too long of a wait, and that they jumped in OO side in just 30 days being company drivers and blah blah blah. Oh yeah? Well want to elaborate on how y’all did it? Didn’t think so
Most will be broke before the 7 year mark.
OMG He Is Right In 77. I got my First truck a 69 Pet .i never thought I would ever get it payed off and keep it Running.i ran that Truck 10 years
I also think about the next owner when I spec a new truck buy a truck that someone else would like to buy when you sell it
Called resale value. Very important consideration and a smart business move, in my opinion. Dave
Also. You forgot to mention. Don't buy a truck with maxforce engine. I dnt care if it old or brand new.
What do you think about owner/ operator for more local work? I personally would like to get into more flat bed, low boy, and grain hauling since I come from the farm/ agriculture side of things. I'd like to be home most nights and haul equipment
Not a trucker but a business owner. I agree with all except buying a new truck. You can’t possibly afford a new truck just starting out. That’s a recipe for disaster. It’s the same as starting a business with a huge loan... big no,no!
Good video here. 21 years experience off an on since the early 80's and I've never been an owner operator and it's too late now for me to go that route I think. The information here is very good but the only thing I would take a slight issue with is waiting 5 years working for the same company before making the move. 5 years seems way too long. Cut that in half to 2.5 years and I think the results will be similar.
But this driver obviously knows what the hell he's talking about and what he shares here is invaluable to those considering making the move to being an owner operator. I do know one thing about the trucking business that starry eyed youngsters may not know. The profit margin is very small and you have to do EVERYTHING right to be a success at it. For example: The average profit margin for large trucking companies varies between 3 percent to about 4.5 percent so there is little room for error in this business. I do not know what the profit margin is for owner operators but I have been told that their profit margin very low as well. Does this mean you can't be successful as an owner operator ? Obviously no. And there is a large contigent of owner operators who make a good living at it.
I know a guy who was hired as a driver and was promised a signing bonus,something he did not get, it was a slow season for truckers so he let it go but when business picked up he asked when he would get it to which he was told soon but he never got it , all this time he was looking for another trucking job and got 1, he was first in his class and told me the signing bonus was on his first check !! he told me before he left the company lying to him he passed in a envelope with a note inside that said fuck you,your trucks,money and job, I quit !!
I'm going to do it. Will lease on to Landstar for a year then maybe get my own authority after that. Good luck out there guys.
Here's my opinion: Never run on your own fuel card, (because if the company goes under your screwed) Never ever sign on when they expect you to work a month before you get your first 2 weeks pay. In Canada some companys want you to haul 60 days or more before you get first full months pay minus costs, "Fuel" - "Insurance" Road Taxes" etc. - Read the various job boards etc. If a company is always looking for drivers, or if drivers are coming / going this indicates a "Problem" - Watchout for the regional companys who expect you to load / unload all day and run all night. "Proper Sleep" is very important. Many regional companys PUSH drivers well beyond limits.
Hey Dave, thanks for sharing! I'm looking at becoming an owner/operator myself, and I appreciate you sharing your insight from your own, personal experience. I found your tips very helpful and informative. If I may ask: in your experience, what type of freight has the best balance between owner/op pay, and headaches dealing with the freight?
Good question! I'd have to say that I found pulling chemical tankers was the best pay for the least headache. Dave
Thanks! I appreciate the tip! I will definitely look into that!
Very informative and great video. I think i will wait to take the plunge when my kids have both graduated HS. Too many responsibilities currently, plus I have a local, paid hourly job. In my opinion as an o/o I would try to have/save as much cash as possible. I know credit and credit lines are the way now, but cash is clean. Being free and clear of debt is a great thing for an O/O or a company. Stay safe out there.
Sounds like you've thought this through well. Drive safe! Dave
Thank you very much sir for this advice about be a owner operator, an the part on how it effects your family an having someone to help you run the company you can trust is very important . In all my 24 year of driving you have explained how to be a owner operator the best, Thank you for advice it's going to help me Decide! if being a Owner Operator or stay Company driver is right for me.
A question for owner operators, how bad the ELD is hurting or will hurt owner operators?
Also, How about you get a new truck from dealership and don’t drive it, I mean you work as a company driver get paid and make your payments from your salary- this way you have income as a company drive and make payments for your own new truck that waiting for you until you pay it off ? It might take longer to pay it off. But if you make good money as a company driver maybe you could manage it? Your truck won’t break, because you are not driving it yet . So when you pay it off you gonna have new truck no breaks and repairs yet
Just a thought . I’m new into trucking in general and probably don’t know plenty of stuff yet
Truck payments on a new truck are generally to high for a company driver to be able to pay. Dave
Thank you Sir.. sounds like good advice. Eventually im gonna buy a truck to work with the company i work for now.
Best of luck!
Do you have your CDL for more then 2 years?
Wow there are a lot of UA-cam channels out there and everybody's thinks they're an expert but this is the one channel I've come across where you truly have a lot of wisdom to share. Really appreciate the detail and insight and experience you bring to your Channel.
While I'm not currently interested in being an owner operator, I still appreciate the point of view and what goes into everything you go through.
What’s the purpose being owner operator and still driving for some company when you can book loads with your own DOT #s
There are advantages to just being an O/O as compared to running your own authority. For instance it's much more secure to know that the carrier will pay you as compared to running your own authority and trying to collect from a load broker. Running your own authority is only better if you have your own direct customers that pay on time. Just one example.
How do you feel about the big 100% owner op carriers such as landstar and mercer ? I have 20+ yrs flatbed exp co driver and want to step up
Cost me $2000 in fines for driving to use a decent toilet, the law expected me to share the forest with the wild bears. was out of HoS.
Just realized watching this video that I passed you coming into Toronto a couple of weeks ago. Thought I recognized you as I pulled alongside. Cool...
I just love trucking
Being a trucker is my ultimate dream delivering Budweiser anywhere in the country.
What are your thoughts on live in rigs. I'm planning on retiring from the Army and moving into a big rig and traveling the country.
You know, I pretty much did that for years. It looks from your picture that you're married. I don't know how my marriage survived it. I must admit though, the nomadic lifestyle appealed to me. I pulled reefer so that put me in California every other week and got me out of Canadian winters, and I liked that! I guess I'd have to say it depends on your situation, but if you're married and your wife says go for it, I'd recommend it. Dave
Thank you Dave for your views I'm really learning alot about different approaches to this industry and I see you're all about safe Mr. Dave ain't taking no chance.
I very much enjoy the methodical and even keeled delivery with which you present information. I've been a company driver for 7 years and am now starting to think about possibly buying a truck and trailer. I've decided that my tentative goal is to be leased on with somebody by april 2019. I want to raise my credit score and have a savings built up for expenses before I even start looking for equipment. Credible information from people like you helps people like me to follow in your footsteps and maybe avoid some of the pitfalls you encountered along the way. Thank you for the information, the way you deliver it and the respect you have for this industry and the people who look to you for facts about it.
Thank you Juliebear! Dave
Save enough money to re-build your engine or replace trans etc.. try to fix everything you can yourself until you get at least $50,000 in the bank and you have no debt because a blown motor and then a month later your turbo goes out and you've paid someone $25-$30,000 for all the work and your broke.... I'm new to this but if your someone that's thinking about this you might consider getting away from that cross country driving where you deal with crowded truck stops on big cities with a bunch of idiot swift drivers and hajis everywhere.. there are so many local jobs that are over looked.. the oil patch will bust again but you can kill it while it's running $$$$$ and then move to something else after.. hell you can buy a belly dump or pneumatic and then when it busts go haul feed or lime etc.. yeah the money isn't as good but if your smart with your money while it's booming you can pay damn near everything off etc.. I'm nowhere near an expert but these are some of my opinions thus far..
I run a rental as an owner operator.
Look up MG Global Logistics.
Call and ask questions
Tell them Hubert Pilk sent you.
Great video Sir, I left the comment for your viewers.
I have to go check out your next video
I saw a company today that is paying $0.90 a mile all miles. I had to look to make sure it was up-to-date information because I was making $0.80 a mile in the mid-90s. I've been back driving a company truck for the past year because doesn't seem too profitable being an owner operator right now. The truck I use is a Mack and if I buy another truck I probably will buy a Mack. truck seems super reliable and the company I work for has some still running at 1.6 million hard miles or more
there is a difference between lease and oo, oo u own ur own truck and u dont have many deductions as leasers, u can lease on with a company and never work miles , get percentage, oo r averaging 2500 to 5000 net a week easy running dry van
Nice video!
Thanks! Dave
You never talk about owner operators or driving or trucks as a woman’s job. How about woman owner operators. How about when the husband hast to go to hundred miles to pick up the wife? Because she dropped her truck off in the shop?🤷🏼♀️🤷🏼♀️🤷🏼♀️
What is considered “heavy haul?” What are the specs for both truck and trailer if you want to run flatbed?
Find a nice Peterbilt 359 or 379 with a fresh pre-DEF Cat or Cummins. PERIOD. The extra money you spend on fuel you'll save on expensive repairs and down time. A new DPF costs thousands of dollars. Check engine lights coming on all the time. The new smog equipment SUCKS. If you can't tell, hire a good diesel mechanic to check the truck over for you. Get a little Yamaha 2000 inverter generator to run a small AC unit or small diesel heater to avoid Idle time. I've seen the small Yamaha turn 15,000 hours. 8 hours on one gallon of gas. Idling the engine will cost thousands over time and extra engine wear and more frequent oil changes.
You'll save BIG money. They only weigh 40 lbs.
Thank you for your videos. I'm now a Lifetime Member of OOIDA and at 62, retired veteran but love to drive. I'm financially secure, debt free, and now have my own authority in Arizona but I only wish to lease a new truck. I do reefer and dry van now and have only 2 years CDL OTR but drove our 180k pound mobile missile launch for 24 years. Should I stick with reefer since food is always needed?
I have a question You might be able to answer;
I am being given a 1949 International LF semi truck that was once a log truck, but this rig needs to be restored bumper-to-bumper, and because this truck is vary rare now, I’d like to bring this truck back to life, just not as my long-haul work truck.
Do You know of a dealer or shop here in SW Washington that might help me bring this truck back to life? I’d like to restore it as a typical 5th wheeler so I can pull pretty-much any trailer if need-be.
I know the rear-end needs completely rebuilt, so does the Red Diamond 650 engine and the electrical system needs to be replaced because it still has the old 6v system it had when it rolled off the assembly line in 1949, otherwise it just needs cometic work I can do.
Any advice & info You can share will be greatly appreciated.
Thanks!👍🏽😉
Beautiful old truck! I don't know of anyone out there, but there's gotta be someone who does. Sorry I can't help. Dave
Somewhere, an accountant crunched numbers & probably realized that even if O/Os make more in the short term, having someone else foot the bill for catastrophic expenses is way more profitable for the carrier than running company drivers. So remember, you might make more for a few months, but if you have a catastrophic event it’ll be YOUR FAMILY that ends up dealing with it. These shady companies wouldn’t push the idea or have lease-ops if it didn’t increase their profits. The day to become an O/O is the day that all these carriers stop telling drivers to do it.
On paper O/O sounds really good, but face the facts: carriers wouldn’t advertise and develop lease op programs and advertise O/O the way they do if it wasn’t more profitable to the carrier. Think of how stingy carriers are, & it should be obvious that they push these programs because it lets them pay LESS than they do for a company driver. Even if some make more as an O/O, the VAST majority will not have that experience.
Think five years is a bit much. By the second year you should know everything about the job.
You think so?
@@SmartTrucking I drive for a dairy company and I pretty much learnt the job on the first year but as far as starting a business maybe you can take another year or two to learn the business side of owning your own truck. three years top.
@@SmartTrucking I'm a big fan of your videos, I watch your videos dairy great work.