I've been saying that these companies that train you to get your CDL, but not train a driver on running a business are taking advantage of anyone they talk into a lease purchase.
Most people don't look at the big picture . Been a own op for 20 years and in this industry for 30 years . Owned everything from a15 thousand dollar truck to custom sleeper trucks that cost 265000 dollars . All as a solo . Pulled open deck for 99 percent of the time also owned flat bed step deck and conasgostas . The company I am least to my avg is 2.45 a loaded and empty mile after the company gets there 26 percent. The best thing I can tell you is to know your cost not only for your trucking business but your house hold bills to . Next is to break that down to a daily basis so you know what you need to make each week. Be for fuel I my self need to make 220 dollars a day just to make my all my bills. Add fuel breakdown and taxes that will help you out so you don't over work the truck and your self. The truck needs to make money if it runs or not. There's 7 days in a week I will make money every day but not work more then 4 to 5 days a week and won't drive more then 2300 mile a week. My wife tells me to leave the house if I been home to long.
Awesome vid. Just started with a company and I have owner/operator aspirations. Definitely going to soak up as much knowledge as I can and haul as many different things as I can. Thanks man.
This was spot on....I pretty much had 30,000 in before I ever got a going and I expected it...That 30,000 includes a truck, a hopper bottom and a stepdeck...Bought em' cheap and fixed them up myself..
I’m currently in transition. I’ve been off for three weeks and loving it! I paid cash for my truck. No truck payment due. I have taken time to vacation with my family and it’s been great. If I financed my truck I would have a totally different perspective. Thanks for the info
I bought my truck with cash with 30k in my emergency fund and probably 5k in my checking. Then I made a bussiness accounts and built up a emergency savings separated from my personal home emergency fund.
How about a video on a guy looking for a second career? Need a fast track because I don't have five years to give a company. I got the cash to buy a new truck and ten years until I consider retirement.
Real pre emission trucks stopped in early 2000's. Cat put CCV's in their motors in 04, Cummins put in egr after the n14 (03-04?) I believe Detriot was the first to use egr around 2000?. Trucks from 03-07 are still better than the new ones but are not 100% pre emissions.
Do not listen to them. They are here to give you stupid knowledge about be owner operator. Do you know why they give false information because thry want you to be a company driver
You don't have to be a company driver first in order to be a successful owner operator sorry thats not true all you need is God and the will to be successful i know plenty who are successful that went straight into it
Good afternoon Brian... thank you for your time to make some of us to understand the things better, if you want to do some for good , do it the rigth way , that will never be the easy one , but if you chose the fast way , there will be very few conditions to finally arrive , and a lot of anothers to get down beside the road… Is it worth enough …? That´s why or how some people are , and some others are not… Have a good new Week start my friend…
I’m gonna drive for 2-3 years and I got about 20k now but also gonna save 20-30 per year as a driver. I could go into business with 60-100k depending on what life throws at me between now and then. Hopefully I’m setting up for success. Also working my credit score up from 650
Get 5 credit cards from 5 different banks like Capital One, Bank of America, etc., a couple installment loans from your local bank or credit union (credit union would probably be better because you'd probably get a better APR there than going to a bank), and you'll be up in the 750's, maybe even close to 800's in no time. I worked with a local credit repair agency that told me to do the same exact thing. I just didn't go as far as getting installment loans because at the time, credit cards were all I could afford at the time. But over about 3 year time period, my scores have gone from about a 570-580 to a 715-720. I could've gotten my score higher in a faster period had I gotten installment loans. And now all of my cards have at least a $1500 credit with my biggest one being $3600. It's a huge accomplishment for me since all of my adulthood it's never been higher than 620-630, and never even had a credit card higher than $500.
@@chrismcallister7050man my credit literally was around 720 this year now it’s at 411 in just 3 months because my car got repossessed and credit cards got fucked paying for school
Exactly right. Learn as much as you can on someone else’s dime! At least 2 industry segments, one should be flatbed where there is someone to teach you securement and load placement (for everyone’s sake don’t try to learn this on your own, this is NOT where trial and error goes well for anyone…)
People can drive a truck in whatever facet of the business that they want (reefer, tank, flatbed, hazmat, etc.), and that's their choice and I don't impugn anyone that choice. But I can tell you without equivocation that, for me, at least, there is NO amount of money, NO benefit, NOTHING WHATSOEVER that ANY company can offer me that will EVER convince me to pull flatbed or hazmat freight. To me, it's just not wort it, no matter what the incentive. I'll put it this way: if it's a choice between pulling hazmat or flatbed freight, or staying home and off the road, I WILL stay home and off the road!!!!
Good video, you need a video on these EPA trucks and how much it really costs to own one. The real costs. And proper gearing, auto vs standard shift, etc. The older trucks, easy to maintain, and less expensive in the long run if you find the right one, and pay cash if possible. You better be able to turn a wrench and know how to diagnose the EPA systems yourself. That $20,000 will be $50,000 if you refuse to work on and learn the systems. In frames start at $30,000, turbos are now $6,000+ at the Stealerships. Shops charge roughly $165 an hour, learn how to work on your own truck!
I will definitely agree that there is tremendous value in knowing how diesel engines work and being able to work on them yourself. You can definitely save A LOT of money that way, in labor costs at least. On that one I will absolutely concur. I, myself, am in the process of educating myself on how to work on heavy diesel trucks in preparation for my eventual transition to being a lease-purchase driver. If I can fix certain things myself, then hey, guess what? I'm that much further ahead of the game.
Man. I learned this the Hard way....but, I'm GLAD I wasn't off on the Numbers. 1st Year I BURNED thru the 18k I saved. Smh. I THOUGHT I was in good shape until a few tires blew out and the egr warning lights came on. OMG!! TOWING still haunts me today. Smh. Im ok NOW but....I tell the Noobs the Same thing. 5yrs/ 20K and DO NOT EVER ignore the warning Lights!!
If you have an inverter in the truck go and buy a fridge 110v from Walmart or the home depo or the Menards or Lowes ! It will cost you about $ 200 max! and the original volvo fridge 12v is not worth it ! 😎
Have had my 2022 Freightliner Cascadia with APU and all legal requirements and luxuries about a month now. I run Reefer in the north east including New Brunswick. I'm financed for 3 years. I run Prime Freight, not AMAZON, Prime Inc. I leased my last truck from them and rolled my bonus into my own truck. Prime is so GOOD to me! My truck grosses steadily 4500 to 6000 a week. I keep my MPGs between 8.5 and 9.5. You guys can blow by me ALL day long, but I'm gonna beat you to the BANK. 😆. LOL. MUCH LOVE. BE SAFE. AND can we maybe get some snow cleared at night in NB on the TC-2? One run this winter I passed 3 roll overs in 85 miles, not funny. PS, it's awesome to connect with like minded folks!
A lot of people on RU-vid give very negative feedback cause of they experience everyone experience is different no one can tell you have to run your own business everyone has they own path in life things that work for me might not work for you these guys are negative
Hindsight being what it is, I'd say they're being more cautionary than negative. I have ~$18,000 parked in my back yard essentially useless after 2 months.
Maybe so but saying you have to work for another person for 5 years in order to be successful is not true its 2021 not 1980 way more resources now than back 25 years ago older people are just stuck in they ways and don't adjust as time progress
@@otfmanmanjaymilly7243 I'll give you that. Some of the old ways aren't even relevant anymore. I did what I'm doing now as a company driver for 3 and a half years though and it helped immensely. It eliminated the learning curve. Many of the customers are still the same. So they know me.
@@dchawk81 i believe u can learn on your own dollar or someone else dollar either way least your learning my point is you don't absolutely have to work for someone else first in order to be successful in this business just like you don't even have to drive a truck to be successful in this business many ways to skin a cat
Great video Brian,very informative and excellent checklist👍 Really opened my eyes to the hidden costs in starting up as an owner driver! Thanks mate,stay safe,strong and well 👍😎🇦🇺
I feel like $20K is good but $10K should be enough because why would you go buy a truck when it breaks down beofre you even use it and put $20k into it already?! Bring a mechanic with you and have him make sure the truck is good
I am a company driver and I used to work for a big company and my trainer told me that if I wanted to become an O/O not to be one of the fools that does it right after coming off their trainers truck. Be a company driver for at least 5 years and keep a notebook of expenses; fuel, tires, oil changes, breakdowns, tows, filters, belts, wipers, lights, etc. Every thing that happens while you're out on the road even though the company is paying for it all; it will be of great help to know what kind of expenses you'll have. Though be aware that's not even getting into expenses that you won't see, like apportioned registration, IFTA, permits and licenses, insurance, etc.
What the hell are those Tarp prices? I bought two lumber tarps that are 27‘ x 8‘ and I bought two steel tarps that are custom tarps that are 27‘ x 4‘ with a 6 foot flap and a 2 foot extension. 600 for lumber tarps and 1200 for the custom steel tarps. $4000 total for everything that I needed for flatbed
Who's the best company to go to after CDL school? I'm not worried about being otr. My concern is finding a company that has paid training for new comers , and a great sign on bounces that actually keep their word
Roehl...Schneider..Henniff...And Crete Carriers...Start there and work around...depending on the division you want to start in...((Tankers and Intermodal)) being the niches...Hope that helps...
LMAO, Brian is awesome. I have 9 years trucking, 7 years of that hauling fuel. I just leased onto the company I was a driver for. I couldn't agree more about money in the bank. Before I even ran a paid mile, I've spent over $4,000 USD.
Saving money it’s the most important thing you need to do, don’t start buying anything else like a new house or new fancy car’s, just waited for the right time,
@@davehughesfarm7983 Some 💵 by the minute if they can get you rolling again. Like putting you run off the side of the road or into ditch they just don't tell you . Hopefully we never find out .
you scared me, i don't have cdl license , i am not a broker, but i open my LLC, buy a truck 2016, and buy insurance, and hire a truck driver with 3 years exp and a cpa, and i am the one who find load for him , plan his way in 3 weeks, i gave him 1 week off every month, he can pick 1 week off as he wants in a month, hmm so far everything is good. I am making my website for my LLC, if everything is following my plan, i will put down payment for my second truck and hire one more truck driver,
Back in the day there was know much technology or social media why I need to be a slave for a trucking sharks for five years!!! supposedly all this cowboys started a trucking union for new trucking drivers to help them out begin their driving career! please don’t tell me to be a slave for another party beneficiary!!!!! Let’s make trucking great again!!!!🇺🇸 you can teach you can support for a good cause but don’t promote a wrong practices and make new driver be in the Exploitative cycle for five years who knows what’s going to happen tomorrow!!!
Apu is waste of money, we set up a rubber mounted mini diesel generator and a small lithium pack that can run the portable house ac that also heats. From welding workgenerator wiring and portable ac etc was under 1500 and it doesn't keep breaking down costing loads of cash. The custum generator is a mini .5 liter diesel from china import 2 for 500 bucks
Guess I need to play the lottery. I am considering getting into the business and can’t see purchasing a used truck. Too many unknowns and potential problems. Not to mention I am currently unemployed and pretty much broke. Thanks for the videos.
I work with bicycles. Would anyone like to know the level of stress these things cause. As soon as one thing is fixed, another breaks down, and my mechanic is raising money for his wedding, so he's praying that something breaks down. It's absolutely ridiculous, so imagine if you work with these monster machines. I would like to work in trucking, but I'm a little scared because of the little I've experienced
@@NorthAmerican-Trucking-News I'm binge watching a lot of your videos right now on starting a small company. You have a lot of great info. Thank you for doing these. I know they're a lot of work.
What would be Ronan’s toughts about this one: One of your driver cie/ or / owner gets mistreated by one of your customers? Strong proof by driver.. I’d like to hear your. Thanks!
I'm sure there will be people say otherwise about becoming a owner operator. But I agree on starting with company, and honestly doing lease is not making it any better. Because you are more hurting yourself than anything. When I get started as a rookie I'm going straight company driving company truck. I don't care honestly because I'm not putting my own money towards parts, fuel and so forth.
I'm leased on but not in the overpriced lease to own the truck for not enough money per mile sense. It works for me because it's basically just a service contract under their authority to not have some of the bigger costs, steady(ish) freight, and power only. I agree with the recommendation to run for a company doing what you plan to do though. While not essential, it does eliminate or at least greatly reduce the learning curve.
Hey guys question been driving for 16 yrs now plenty of experience and manage to save $80k doing local.Now I want to take leap of faith how would I go about starting on pls give me info
I cant drive for a company 5 years first im a felon that also have misdemeanors most companies are saying no in this market so im saving to buy my own truck but ive been married to a trucker for 16 years who going to help with the transition
Would you apply the same thresholds to someone that is currently a local or vocational owner operator that wishes to transition or expand into OTR work?
That part… I would have the $20k as a safety net. But I would have at least $30-40k in credit because my credit is good. Use the credit first because cash is for emergencies. Just my opinion.
I don't mean to be insulting, you know your job, but you don't know business.. I apologize if you don't get this but it / wasn't insulting... You work for companies as a 1099... What are you thinking? Wake up?
This guy is one of the best on keeping it straight and up to date. When mans said tv and fridge i said thank god he is speaking modern trucking😂. Protect this guy at all costs
No, he's not. You DO NOT need to shell out no $1,800 for no damn refrigerator. No more than $500 should be perfectly adequate to get you a very nice refrigerator/freezer combo that will function very well on your truck, probably even with locking latches to keep the doors from opening when you hit those inevitable and unavoidable bumps and potholes on the road.
Good thing I am planning to save up 200k for when I become an owner operator. So I am going to go on the more expensive side say I wan to buy the truck outright let’s say 60-80k then spend 15k for one of those things for when the truck is off. And I might just stick to a regular fry van tempted to go into transporting foods for stores in the future so let’s say I am planning to invest and additional 20k so bare minimum I am going to have to spend, about 95 - 115k in start up costs because I don’t want to deal with payments.(learned the hard way on less expensive stuff don’t need to go down that rabbit hole again) then that is just for the truck, so I am going to assume I will need another 50k saved up for insurance provider which will leave me with about another 35k of just in case something breaks down money. Then I plan to drive as much as humanely possible within the first year hopefully make about -60% ROI including having to pay taxes and insurance then as time goes on and get a better feel I can make much more about making around 130k my second year. Eventually I want to start my own company as well so I will have to save up let’s go safe and say 500k - 1M dollars as a startup to build up my own fleet using that money to buy 2 - 3 trucks and having one small terminal if I have the luxury of affording it.(no clue how much that will cost yet) then slowly grow based on what what I have available, how much money I have saved up, and figuring out ways to make sure it is recession proof. The goal is to make it so all I have to do in my 50s-60s is that it is completely self sustaining and grows at a steady rate. I can probably go a lot faster if I accept loans from banks but I’d rather not owe any money if I can help it. So once I pass my CDL-A test in October and get a job my plans should be complete in about 30-40 years since I am playing it as safe as possible. These are all rough estimates if anyone has any ideas on how to speed this up or some more realistic numbers to look at pls respond to this comment.
Just a few ideas for owner operator first off I would not license my trucks in Ontario Canada. For you Americans that don’t know Ontario is like New York State Illinois or California it’s a dump socialist/communist everything is expensive governments rips people off everyway to Sunday, so if your from Canada licence your truck in Alberta or Saskatchewan or USA go red state South Dokota Montana Wyoming etc then I personally don’t think it’s worth it unless you can do most of your maintaince and repairs yourself or in house if your uncle Bob or someone in the family is a mechanic so invest in a 1000 or more square foot shop with high bay door your own tools and equipment and have a couple acres of land or more out in the country if you live in a city subdivision I would just forget be8ng a owner operator stay company it’s not worth paying the shop rates anymore.
Thanks for the channel! I was an owner operator with 4 trucks 20 years ago, now I'm 55 and thinking about doing it again with 2 trucks. Good info on here.
Hey I just subscribed to your channel but I just curious way did you get a 2014 truck when you just said you would never buy a truck i believe you said between the years of 2007 - 2015 they were the experimental years of emissions?? 🤔
Thank the information! I want to drive local to get my experience, but I do worry that I won't learn as much as being OTR. Am I just overthinking things?
I got a DWI, got my CDL suspended for 1 year, and next month im supposed to get it reinstated. Will an insurance company get me if i buy my own truck and have my own authority?
