As a one truck owner-operator I operate under contract to a 100 percent owner-operator company. So I pay them a substantial amount of money( basically 25%) to handle a whole lot of the headaches Billy does for himself as Billy is a true Independent. Another reason I prefer operating the way I do is because I get paid almost immediately after I unload. I send pictures of my bills in and within about 2 or 3 hours I will be notified settlement has been made. Money is then direct deposited by the next business day. Add in major fuel and tire discounts. Another thing I like is I dont have a customer that I personally need to service 24/365 like when I was on my own. When I am not available for work, my carrier covers a customer's needs with another driver. Because of various bonus and incentives my plates are usually 100 percent covered by my carrier. (31 years with one outfit has it's perks). Liability Insurance is paid for by 2% off the top. So, my revenue might be less but from the numbers Im hearing in the video, maybe not. But costs are less. I choose loads, I dont dig them up.
It's incredibly interesting that you speak on this stuff at length. There is no one but the camera and you. It's very hard to do, and it is impressive. Thank you for the content!
I like your channel and your knowledge. I'm a company driver at 60 years old. Was thinking on buying my on truck to slow down. After your post sounds like I'm better off staying where I am till retirement. Thanks!
You left out one important detail. I’m running the same type of business. I run the truck I want to run, the way I want to run it, where I want to run it. Yes, everything else is exactly as you have described it. It’s a trap!! But I am not relying on some arrogant dispatcher. Thank you for sharing.
This is a business alright with all the risks & Opportunities that come with one. Good if one gets lucky with the equipment & schedules & payments to begin with. Rest it is just about being independent & feeling good about it to the extent one can under the circumstances. Thanks for this very informative content, especially the economics of it without which it stops making sense soon. Keep it like this, better than a travelogue which there are many others to do it. This is something one couldn’t have monetized in times past but the value has been recognized & appreciated & not just in thanks. 😊
When you are an Owner Operator, you’re never ever “OFF DUTY” Deregulation of the trucking industry was the most damaging thing I witnessed happen to my dad’s trucking company. He always ran with odd number of trucks and paid drivers very well. Then he slowly started cutting back to eventually he was back down to one truck for himself. Trucking is a tough business, and one of the most under appreciated professions. Hang Tough, if it was easy everyone would be doing it.
Just came across your video a while ago while browsing through youtube at work at night.....and i really like your content. Good thing you got that melanoma taken care of.....i work in healthcare and im always watching your videos while at work night shift. Im an RN and i was thinking of getting into trucking and being an owner operator but this is eye opening. Also sorry to hear about your mom...stay strong.
I run my own authority back in 2010, pulling freight for C H ROBINSON. They were good to me as far as having freight, but one trip home looking at the books and I realized I was broke and running week to week waiting for them to settle with me.
Trucking is hard. I was an owner operator for 42 years and gave it up in 2014. It's like anything, good and bad. Funny, but the same thing you are complaing about I have been complaning about since the early 70's. It a shame it never changes.Hang in there it looks like you got it figured out as good as it can be figured out, Take it from an old guy, slow down because you'll realize it doesn't really matter in the end.
Rates may improve next year. We may be in for a recession in the first quarter but the rest of the year looks good to me. As the economy improves, freight will pick up, so demand will increase relative to truck supply. This will put some upward pressure on rates. If the economy really takes off, truckers will be back in the drivers seat again and able to demand a fair rate.
Just stumbled on your channel you are intresting to listen to so I hope you keep making them I injoy the trucking topic I think you’ll do well so I subscribed
Enjoy listening to your trucker stories nice video sorry for your cancer on your arm good you have it taken care i hope your able to start making money again yes trucker industry nothing like use to be take care buddy
For how long do you have to work before you can retire ? We have the same problems whit the companys that dump the prices of freight here in Sweden. I am retired now after 47 years of trucking, been working as a company driver. Keep up your good work and don't do the cheap loads. In the end the brokers has to understand what the cost is to run a truck every day. I hope that everything is going good for you. Andy from Sweden.
While you spend hours upon hours at shippers and receivers you have a lot of time to know your numbers. You get really good at it and realize you’re just spinning your wheels
I did 120k pre and post covid dry van, but I lived in a truck. During covid I could break 200k a couple years. 2022 I did 80k. That was net. I avoid flat and step cause night and weekend sitting Now I'm w2 company doing 70k bring home and home all weekend. Zero risk
I quit trucking 8 years ago and now I make more money working from home answering phone calls. It felt like everyone was out to cheat the driver out of as much money as possible or have him work for free.
Hi.I wonder how everything is now about the trucking industri,even here in Sweden the freight prices is bad, but the price to run a truck is going up.I am retired from been a truck driver here In Sweden after 46 years behind the weel,and the talk about freight prices has been a long story during all that years. Andy from Sweden.
@higb7 so I have my own insurance, even though I'm leased on to another company. But that just covers occupational hazard and bobtail, insurance, they carry the coverage for the loads. I was told by my insurance company that insurance to be on your own is 20000. To $40000. Annually, I'm just wondering like, how do you manage that like? How do you get From being a lease operator getting your own authority and paying all that money for insurance. I don't have that kind of money laying around. I just did my buyout for 15000 so who do I need to do work? Save up some more money. Before I go out on my own.? Thx
You have options: 1) Drive for a company 2) Find a local job (non driving). You might not make $300+ per day but you can limit your hours to 40 hours a week. 3) Teach others to become drivers to get their CDLs Take care.
At yhe end of the day, the money is not there! A trucker can overcome breakdowns, being away from home or family bfor long periods, dealing with dot, shippers/receivers, tight loads, traffic, weather, bad diet etc. But if the money is not there, it becomes a dead end burn out gig. Btw, isn't full retirement age now 67?
Sometimes people have the same life experience my wife and I were retired in Nevada her parents in Ohio became ill and we sold our house there and moved to care for them to make a long story short we have a paid for home there an a land in Nevada we liquidated our retirement savings and there's on their health care we need to go back to work I was a otr driver 26 yr until 2005 we need a savings account and to put a house on land in Nevada we want to sell this house in Ohio to fund truck an trailer I was hoping to squeeze out a living an build home in 5 yrs as a operator with paid for truck I know the work involved but it's what I know if you would be kind enough to advise me on what trucks to look at now a days I would be grateful I have $50000 to fund start up I drove a 1991 Navistar eagle with a car motor and had good luck with it but the new breed of emissions truck I'm seeing are different animals are the IH 625 road tractors reliable looking at trucks from 180000mi to 400000mi priced between $28000 to $56000 any thoughts
You better off to put about 20,000 down on a brand new truck like a cascadia Kenworth t680 something like that Then just get out there and hit it hard, keep it rolling. You can get it older truck for a good price but whether it's a good or not is the luck of the draw
Going to have trouble getting financing with a new LLC. Banks have tightened up, they are well aware of the current status in the trucking industry. 50K will probably not be enough if you are getting your own authority. Lots of regulations to deal with. You will need 3rd party support, which costs. Depending upon the state you are in, vehicle registration for a new company is a pita and expensive. I highly suggest you use a service that handles apportioned licensing. If you get your own authority, you will be put in the new carrier fmcsa safety audit program. You will be under a microscope for 18 months. I recently passed the new carrier audit. You have to have all your ducks in a row. State permits, clearing house (drug testing), ELD, etc. You will need a CPA & or tax attorney attorney or you will be taken to the cleaners in taxes. You also have to do IFTA taxes every quarter. Either do them your self or use a service. I do them myself. Get an ELD that helps with that. Or use a calc program & set it up for all the states you run in to automatically calculate the totals. I am setup in Arizona which allows me to do the quarterly IFTA via their website. You need total gallons & miles for every state. Then pay them. Oregon, New York, New Mexico, Kentucky, Connecticut. You have to setup with them directly and put in miles & gallons & pay. Oregon you need to provide them with a bond. Those are in addition to the IFTA. Have to provide Arizona with a bond for the IFTA program. You have to be very committed & have the funds. To start an LLC & get your own authority. You might be able to do it with 50k. To get your authority you have to get insurance. You will be paying insurance while you are setting everything up, not yet doing loads. Due to all the red tape. Plan on 1-2 months, from the date of starting a truck purchase, until first load. You will need a factoring service. Unless you can wait to get paid in 21-90 days. Lots of fuel card choices. Mudflap is a newer fuel card, no fees, my average discount is 40-45 cents. The least expensive & less work involved method. Is work under a carriers authority. Makes it fast an easy, though, you will lose freedom. You will have to do the loads they have available. While playing by their rules. Some love it, some hate it. I prefer having my own authority. I pick & choose what & where. I use a dispatch service, that does the broker setup for the brokers I want to use. She then finds the loads & negotiates the amount. Well worth the cost, pays for itself. She has many contacts & has brokers calling for the right truck & driver. I have a 53' Stepdeck & W990. Now is a rough time to start. Most brokers will not do business with a new authority. Next tier is 3 months, 6 months, 12 months. Due to all the fly by night foreigner trucking companies. Brokers are Leary of new carriers with a new authority. Landstar now has a 12 month requirement. One reason for that. Finance companies were telling truck purchasers they need to show a source of income. They told thousands to go sign up with landstar. Landstar found that 3,500+ had signed up with them & never did a load. To get financing you will either need to be signed up with a reputable broker. Or with a dispatch service. That will on paper show your average income. Without it, underwriters will not approve a loan. Used trucks are plentiful & have gone down in value. Due to all the owner ops that have gone out of business. Not a good time to start a trucking company. Though, if you can make it in today's economy. You will be walking through tall corn when it gets better. The coming election is going to either be a big boost or the last nail in the coffin.
You are better off getting a new truck with a warranty. I got a used W990 with a recently in frame rebuild. I have spent nearly 30k in the past 5 months in maintenance & repairs. Extended warranty always finds a reason to not pay. Freightliner is a good choice as Speedco does Freightliner warranty work. Provides for more locations for factory warranty. Just because it is new, does not mean it will not break down. The new ones have constant computer & electrical problem. No one better brand. If you can get a glider, do it, no California though. As no emissions is illegal. Like previously said. Luck of the draw. If I had to do it over. Like one owner op I met. Find an old pre emission cheap. Rebuild the whole thing, rebuild the engine, tranny etc. The only way you can have 5+ years of no break downs. The new ones always something. It is not just the cost. It is the lost revenue from all the downtime & hotel etc.
@higb7 im really thinking about getting the 990... new... im a bigger guy and really like the room inside. If I can get 6.5 ... that would be fine with me. I'm your age... started hotshot flat bed to make sure I like doing this... and I really actually enjoy it. I like your channel! And really like your music selection.
![Lp. Сердце Вселенной #60 РОЖДЕНИЕ ЛОЛОЛОШКИ [Финал] • Майнкрафт](http://i.ytimg.com/vi/YoR0pAV9FVQ/mqdefault.jpg)
As a one truck owner-operator I operate under contract to a 100 percent owner-operator company. So I pay them a substantial amount of money( basically 25%) to handle a whole lot of the headaches Billy does for himself as Billy is a true Independent. Another reason I prefer operating the way I do is because I get paid almost immediately after I unload. I send pictures of my bills in and within about 2 or 3 hours I will be notified settlement has been made. Money is then direct deposited by the next business day. Add in major fuel and tire discounts. Another thing I like is I dont have a customer that I personally need to service 24/365 like when I was on my own. When I am not available for work, my carrier covers a customer's needs with another driver. Because of various bonus and incentives my plates are usually 100 percent covered by my carrier. (31 years with one outfit has it's perks). Liability Insurance is paid for by 2% off the top. So, my revenue might be less but from the numbers Im hearing in the video, maybe not. But costs are less. I choose loads, I dont dig them up.
It's incredibly interesting that you speak on this stuff at length. There is no one but the camera and you. It's very hard to do, and it is impressive. Thank you for the content!
I like your channel and your knowledge. I'm a company driver at 60 years old. Was thinking on buying my on truck to slow down. After your post sounds like I'm better off staying where I am till retirement. Thanks!
I love this type of long form content
That WAS my world, not anymore! Good luck to you neighbor and be careful out there!
You left out one important detail. I’m running the same type of business. I run the truck I want to run, the way I want to run it, where I want to run it. Yes, everything else is exactly as you have described it. It’s a trap!! But I am not relying on some arrogant dispatcher. Thank you for sharing.
This is a business alright with all the risks & Opportunities that come with one. Good if one gets lucky with the equipment & schedules & payments to begin with. Rest it is just about being independent & feeling good about it to the extent one can under the circumstances. Thanks for this very informative content, especially the economics of it without which it stops making sense soon. Keep it like this, better than a travelogue which there are many others to do it. This is something one couldn’t have monetized in times past but the value has been recognized & appreciated & not just in thanks. 😊
When you are an Owner Operator, you’re never ever “OFF DUTY” Deregulation of the trucking industry was the most damaging thing I witnessed happen to my dad’s trucking company. He always ran with odd number of trucks and paid drivers very well. Then he slowly started cutting back to eventually he was back down to one truck for himself. Trucking is a tough business, and one of the most under appreciated professions. Hang Tough, if it was easy everyone would be doing it.
Just came across your video a while ago while browsing through youtube at work at night.....and i really like your content. Good thing you got that melanoma taken care of.....i work in healthcare and im always watching your videos while at work night shift. Im an RN and i was thinking of getting into trucking and being an owner operator but this is eye opening. Also sorry to hear about your mom...stay strong.
You just gave me the best info on trucking, I've seen yet. Thank you.
The first reaction of somebody in trouble is to accuse someone of stealing from them!
I run my own authority back in 2010, pulling freight for C H ROBINSON. They were good to me as far as having freight, but one trip home looking at the books and I realized I was broke and running week to week waiting for them to settle with me.
That was great advice, sir. That is how you stand on business 👍
Trucking is hard. I was an owner operator for 42 years and gave it up in 2014. It's like anything, good and bad. Funny, but the same thing you are complaing about I have been complaning about since the early 70's. It a shame it never changes.Hang in there it looks like you got it figured out as good as it can be figured out, Take it from an old guy, slow down because you'll realize it doesn't really matter in the end.
I really appreciate you and your video's. Man what a story but yeah i can say i understand❤️🇺🇸💯🚛
Rates may improve next year. We may be in for a recession in the first quarter but the rest of the year looks good to me. As the economy improves, freight will pick up, so demand will increase relative to truck supply. This will put some upward pressure on rates. If the economy really takes off, truckers will be back in the drivers seat again and able to demand a fair rate.
Beautiful truck.
Sorry for your loss on your Mom. You are a wise man and I do appreciate your honesty.
Just stumbled on your channel you are intresting to listen to so I hope you keep making them I injoy the trucking topic I think you’ll do well so I subscribed
The load board sucks.....brokers are taking advantage of carriers who don't know there cost of operations
New subscriber here …Keep making videos .. I like too here ur stories
Just ran across your videos. Keep them coming!
Enjoy listening to your trucker stories nice video sorry for your cancer on your arm good you have it taken care i hope your able to start making money again yes trucker industry nothing like use to be take care buddy
Yep... Ive got to rest after your story. Thinking about what you had to do.
For how long do you have to work before you can retire ?
We have the same problems whit the companys that dump the prices of freight here in Sweden. I am retired now after 47 years of trucking, been working as a company driver.
Keep up your good work and don't do the cheap loads.
In the end the brokers has to understand what the cost is to run a truck every day. I hope that everything is
going good for you. Andy from Sweden.
I concur with everything this man stated. 0n authority 3 yrs been parked for 1 year.
While you spend hours upon hours at shippers and receivers you have a lot of time to know your numbers. You get really good at it and realize you’re just spinning your wheels
I did 120k pre and post covid dry van, but I lived in a truck. During covid I could break 200k a couple years. 2022 I did 80k. That was net.
I avoid flat and step cause night and weekend sitting
Now I'm w2 company doing 70k bring home and home all weekend. Zero risk
Yep, just to make what a company driver makes you need average about $2.20 a mile right now
Same boat as you, been home for 2 weeks. South Texas is horrible.
Im worn out just listening to what youve done. Haha
Keep positive 👌👌
Keep on Truckinggood 👍👍
New to your channel...like your wisdom
I quit trucking 8 years ago and now I make more money working from home answering phone calls. It felt like everyone was out to cheat the driver out of as much money as possible or have him work for free.
Hi.I wonder how everything is now about the trucking industri,even here in Sweden the freight prices is bad, but the price to run a truck is going up.I am retired from been a truck driver here In Sweden after 46 years behind the weel,and the talk about freight prices has been a long story during all that years. Andy from Sweden.
Your numbers are right on target.
I'm just about to pay off my truck, I've been leased for about 8yrs. But i really want to get on my own I'm sick of the middle man. 🇺🇸💯🚛
You can make money on the load board
@higb7 so I have my own insurance, even though I'm leased on to another company. But that just covers occupational hazard and bobtail, insurance, they carry the coverage for the loads. I was told by my insurance company that insurance to be on your own is 20000. To $40000. Annually, I'm just wondering like, how do you manage that like? How do you get
From being a lease operator getting your own authority and paying all that money for insurance. I don't have that kind of money laying around. I just did my buyout for 15000 so who do I need to do work? Save up some more money. Before I go out on my own.? Thx
@@gregburgess6884 you should be able to get insurance for about 12,000 a year
2 to 3,000 deposit and the rest will be paid monthly
The rates have to go up, the foreigners who are here just for the dollar and are not here to be an American need to go. 🇺🇸💯🚛
This old boy is telling it right
Also im in wichita kansas where you dropped off that truck you said lol
This guy is very logical and intelligent. Over qualified for a trucker
EXACTLY LOCAL RUNS ARE BASED ON A DAY RATE NOT MILAGE!!!! SAY THAT AGAIN!!!! People are need to learn a business before entering and messing it up
You have options:
1) Drive for a company
2) Find a local job (non driving). You might not make $300+ per day but you can limit your hours to 40 hours a week.
3) Teach others to become drivers to get their CDLs
Take care.
I don't do broker loads
Quick recovery Cancer has become a problem in Africa.
I'd love to buy your truck if you ever want to sell.
Thanks
It seems like it would be better to sell your equipment and become a company driver.
Florida is notorius coming out with good loads only going in is okay. Just subcribed to your channel will keep checking you put stay safe out there.🫡
Sounds like you might need to sell the truck n trailers, pay out your leases and just get a local job on wages, be much less stress.
Ive been on both sides lf the fence. Id rather drive someone elses truck.
At yhe end of the day, the money is not there! A trucker can overcome breakdowns, being away from home or family bfor long periods, dealing with dot, shippers/receivers, tight loads, traffic, weather, bad diet etc. But if the money is not there, it becomes a dead end burn out gig.
Btw, isn't full retirement age now 67?
To get the most payment yes. I think it's still 62 or 63 you can start drawing but it'll be smaller
Haul haz mat
Sometimes people have the same life experience my wife and I were retired in Nevada her parents in Ohio became ill and we sold our house there and moved to care for them to make a long story short we have a paid for home there an a land in Nevada we liquidated our retirement savings and there's on their health care we need to go back to work I was a otr driver 26 yr until 2005 we need a savings account and to put a house on land in Nevada we want to sell this house in Ohio to fund truck an trailer I was hoping to squeeze out a living an build home in 5 yrs as a operator with paid for truck I know the work involved but it's what I know if you would be kind enough to advise me on what trucks to look at now a days I would be grateful I have $50000 to fund start up I drove a 1991 Navistar eagle with a car motor and had good luck with it but the new breed of emissions truck I'm seeing are different animals are the IH 625 road tractors reliable looking at trucks from 180000mi to 400000mi priced between $28000 to $56000 any thoughts
You better off to put about 20,000 down on a brand new truck like a cascadia Kenworth t680 something like that
Then just get out there and hit it hard, keep it rolling.
You can get it older truck for a good price but whether it's a good or not is the luck of the draw
Going to have trouble getting financing with a new LLC. Banks have tightened up, they are well aware of the current status in the trucking industry. 50K will probably not be enough if you are getting your own authority. Lots of regulations to deal with. You will need 3rd party support, which costs. Depending upon the state you are in, vehicle registration for a new company is a pita and expensive. I highly suggest you use a service that handles apportioned licensing. If you get your own authority, you will be put in the new carrier fmcsa safety audit program. You will be under a microscope for 18 months. I recently passed the new carrier audit. You have to have all your ducks in a row. State permits, clearing house (drug testing), ELD, etc. You will need a CPA & or tax attorney attorney or you will be taken to the cleaners in taxes. You also have to do IFTA taxes every quarter. Either do them your self or use a service. I do them myself. Get an ELD that helps with that. Or use a calc program & set it up for all the states you run in to automatically calculate the totals. I am setup in Arizona which allows me to do the quarterly IFTA via their website. You need total gallons & miles for every state. Then pay them. Oregon, New York, New Mexico, Kentucky, Connecticut. You have to setup with them directly and put in miles & gallons & pay. Oregon you need to provide them with a bond. Those are in addition to the IFTA. Have to provide Arizona with a bond for the IFTA program.
You have to be very committed & have the funds. To start an LLC & get your own authority. You might be able to do it with 50k. To get your authority you have to get insurance. You will be paying insurance while you are setting everything up, not yet doing loads. Due to all the red tape. Plan on 1-2 months, from the date of starting a truck purchase, until first load.
You will need a factoring service. Unless you can wait to get paid in 21-90 days. Lots of fuel card choices. Mudflap is a newer fuel card, no fees, my average discount is 40-45 cents.
The least expensive & less work involved method. Is work under a carriers authority. Makes it fast an easy, though, you will lose freedom. You will have to do the loads they have available. While playing by their rules. Some love it, some hate it.
I prefer having my own authority. I pick & choose what & where. I use a dispatch service, that does the broker setup for the brokers I want to use. She then finds the loads & negotiates the amount. Well worth the cost, pays for itself. She has many contacts & has brokers calling for the right truck & driver. I have a 53' Stepdeck & W990.
Now is a rough time to start. Most brokers will not do business with a new authority. Next tier is 3 months, 6 months, 12 months. Due to all the fly by night foreigner trucking companies. Brokers are Leary of new carriers with a new authority.
Landstar now has a 12 month requirement. One reason for that. Finance companies were telling truck purchasers they need to show a source of income. They told thousands to go sign up with landstar. Landstar found that 3,500+ had signed up with them & never did a load.
To get financing you will either need to be signed up with a reputable broker. Or with a dispatch service. That will on paper show your average income. Without it, underwriters will not approve a loan. Used trucks are plentiful & have gone down in value. Due to all the owner ops that have gone out of business.
Not a good time to start a trucking company. Though, if you can make it in today's economy. You will be walking through tall corn when it gets better. The coming election is going to either be a big boost or the last nail in the coffin.
You are better off getting a new truck with a warranty. I got a used W990 with a recently in frame rebuild. I have spent nearly 30k in the past 5 months in maintenance & repairs. Extended warranty always finds a reason to not pay. Freightliner is a good choice as Speedco does Freightliner warranty work. Provides for more locations for factory warranty. Just because it is new, does not mean it will not break down. The new ones have constant computer & electrical problem. No one better brand. If you can get a glider, do it, no California though. As no emissions is illegal.
Like previously said. Luck of the draw. If I had to do it over. Like one owner op I met. Find an old pre emission cheap. Rebuild the whole thing, rebuild the engine, tranny etc. The only way you can have 5+ years of no break downs. The new ones always something. It is not just the cost. It is the lost revenue from all the downtime & hotel etc.
May I ask... how many mpg does your truck get? On average?
It's been getting 6.5
@higb7 im really thinking about getting the 990... new... im a bigger guy and really like the room inside. If I can get 6.5 ... that would be fine with me. I'm your age... started hotshot flat bed to make sure I like doing this... and I really actually enjoy it. I like your channel! And really like your music selection.
Get factoring so u get money faster
Bidenomics!
Buddy I can’t be more than a couple hours from you. I would like to buy you lunch one Saturday and pick your brain.