Questions for independent o/o
 

I am currently in between jobs, rather then go to a second hand company, I would prefer to wait a bit and go back to an old company I worked for when they get some openings. During this waiting period I am looking into renting a truck and trailer for some independent work as a temporary solution. Currently I do not have any experience as an owner operator. This said, I have a few questions I am hoping some experienced o/o can answer for me on here. First off let me start by asking is it even practical to rent a truck and trailor to do o/o work? I do understand there are rental rates involved but I am not looking to make a ton of money here, just enough to get me on by until my old company hires me back. Plus I would like to get a feeling for the whole independent o/o lifestyle, I think I may eventually prefer that opposed to a company driver. If I am able to do this and prefer it, I will eventually just buy my own truck outright. I have checked out some of the online load boards, I noticed they have trailer type listed by the loads. From what I am understanding, that is the type of trailer required for the load which in turns means I must either rent that type of trailer or own one? I am only planning on running 2 or 3 days out the week, all just a temporary deal. So is this whole idea even worth considering in my situation or will the numbers just not match up?

You are just a dreamer. You will LOSE money working only 2 or 3 days a week, renting a tractor & a trailer. Working at McDonald's would be way more practical! :cool:

Renting a truck is a losing proposition for a part time operator. Most rental companies charge a flat fee per week or month plus mileage. I think that you will lost your shirt renting equipment and running part time.

If you really want to become an owner operator then the only way is to put your money down and buy some equipment and take your chances. Margins are thin after you consider all the expenses involved in running a truck. Some don't even get drivers wages once all expenses have been paid. Personally, I don't think you are ready to make the move. You need to be committed to make this work. From your post it seems that you only want to do this to fill in the time until something better comes along. That in itself is the wrong reason to become an owner operator.

This is very true, if you lease a truck from the company you work for. I've seen some advertised weekly lease costs close to what I pay per MONTH for my credit union truck loan!!! :eek1:

Ryder and Penske rental rates range between $600-$700 a week for a daycab truck. Trailer are about the same. So you would have to haul loads paying a good $3500 a pop to make a buck, plus most companies will not let you run a RENTED truck. I know for a fact Schneider, Wal-Mart, Werner, Swift, and JB wont even take you on.

If you really are only looking to get by for a few months, like stated above, why not just go to McDonalds, Wal-Mart or somewhere like that and get a paycheck????

If you REALLY want to go O/O then why not just buy a used cabover or something that runs well for say under $10k and go from there......... because unless you know something I dont, Penske and Ryder will not rent you a rig w/o a huge application and business funbding. Plus, their insurance requirements are crazy!!!

When you rent a truck these rental companies usually charge a base rate plus mileage. I believe the last time I rented a truck cost me about
$800 for a about a week. I only rented a truck when one of my trucks was in broken or in the shop and I had committed to hauling some freight. I don't see how anyone can come out paying that much money out on truck rental.

Well that idea is certainly a no lol. I guess I am not aware of how much an owner operator pulls in after it is all said and done. Here is what made me even consider this idea and obviously I am leaving things out. I thought 1.25cpm is about an average rate for an independent o/o. So I do 500 miles and come up with $625 then less fuel about $225 gives me $400 which brings $1200 for 3 days minus $600 for the rental and that leaves me $600 for a week. This is what lead me to believe I could do it but as I said above, I must not be aware of how much an independent o/o takes in on an average. Maybe one of you guys can answer that one for me?

There are some guys running containers around here local and they do pretty good for the amount of hours they work. I may just get a used day cab truck paid in full and then go on with one of the many companies down here who hire o/o to pull containers. I am in the intermodal business anyway but I have just been a company driver. Thanks guys, I guess for now I have to continue to wait it out for one of the other companies to call me. Problem is, they are taking really long and I been out of work for a few weeks and its not getting any better.

Your math is correct, but now also add in the deduction for insurance, OC/AC, permits, plates ect....... you might see $50 a week of that money.

Now the second parts sounds like a much better plan..... buy a $10,000 truck outright, sign on with a comapny and make a few bucks, and when your other company hires you back, toss it back on the market for about the same $$$.

Now with a cheap truck comes some repair/DOT issues tho, so expect to spend a few grand on repairs in the meantime.

Where are you located??? I might be able to tell you a few companies to give a call to.

In this economy, you will not likely find a LOCAL gig, not one that suits your wants right now. You may just have to say "fug it" and go OTR for a few months to keep the $$ coming in untill something opens up. We all want a MON-FRI 9 to 5 job but it isn't going to happen. Sometimes you gotta do what ya gotta do to keep the food on the table.

I only say this because I personally know of 4 company drivers who quit or were laid off and have been holding out for the "run during the day, weekends off" gigs and they are STILL sitting at home waiting for the phone to ring after a YEAR of not working. This economy is BAD BAD BAD and not going to get any better anytime soon...... take what you can get and just be thankful to have a job at all.