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22 year old owner operator

Sep 11, 2018 at 05:32 AM CST
I am currently 22 and I have owned my own truck for the last year with my own authority and own a hopper bottom and a 28? dump. I run all local hauling grain and doing some construction and also for local fertilizer companies. I am trying to decide if I would be better off staying where I?m at or taking the next step and going over the road. And if so how do I go about it?
Replied on Tue, Sep 11, 2018 at 06:39 AM CST
It would be easier to answer the question I knew what your motive was.
Replied on Tue, Sep 11, 2018 at 07:54 AM CST
+ 3
If you are making money, able to pay your bills on time and have steady work, stay where you are! If it ain’t broke, don’t fix it!!
Replied on Tue, Sep 11, 2018 at 10:40 AM CST
+ 1 - 1
Motivated to create better opportunity for myself and to be able to buy more trucks and hire people to drive for me.
Replied on Tue, Sep 11, 2018 at 11:25 AM CST
+ 1 - 2
Without knowing your current rate per mile and profit margins, it's impossible to give a honest answer.
Replied on Tue, Sep 11, 2018 at 01:35 PM CST
Originally Posted by: KYLE STENGER
Quote: "Motivated to create better opportunity for myself and to be able to buy more trucks and hire people to drive for me."

be careful more trucks doesn't always mean more money. If you can sleep in your own bed most nights and enjoy life around home and pay your bills then you might not enjoy open road. sleeping in the truck all the time is a dogs life. just my thoughts and I stay fairly local. good luck and I wouldn't want to discourage a young man from doing what he wants to do as long as it makes sense.
Replied on Tue, Sep 11, 2018 at 06:56 PM CST
+ 1
If you want to learn the OTR market and really understand its potential, you have to pay your dues and put your time in. You will have to start at the bottom, and work your way up the latter, to where you can get hired by companies like landstar. Working the OTR market, you will pretty much always be dependent on brokers. They will control your revenue stream. Assuming that you are able to grow, by the time you reach 10 trucks you will find yourself building a shop and hiring a mechanic to control your maintenance costs, and that in itself will wipeout the profits from the first ten trucks. So then you will add ten more trucks, and will find out that you now need a dispatcher and accountant, along with a compliance department, and a couple more mechanics, so there go the profits from the other ten trucks. By now you have a turnover problem, and you are watching your insurance rates go through the roof, and find yourself working 7 days a week. Then your wife gets tire of the mess and divorces you.
Replied on Tue, Sep 11, 2018 at 08:42 PM CST
I don't know what kind of money you make right now, and it's probably best you don't tell us. What I can tell you is the spot market is hot right now and there are a lot of folks making money. You have more opertunity now than ever before. This is the first time in history where money is not solving a driver shortage, so you have a unique opertunity. You may succeed where others could not.
Replied on Wed, Sep 12, 2018 at 08:16 AM CST
Originally Posted by: KYLE STENGER
Quote: "Motivated to create better opportunity for myself and to be able to buy more trucks and hire people to drive for me."

This is the worst time to be an independent trucking company. The big carriers are trying to weed out the little guy. Unless you have minimum $200,000 in savings that you are ready to part with, stay small and stick with one truck. Save up the money before you try to expand. It’s not as easy or glamorous as you think it is. We have 3 truck notes, 1 trailer note and lots of debt. What we don’t have is a retirement savings anymore because we had to use it to survive last year or drivers that want to work and stay with our company. We are a good fair paying company but because we can’t offer a sign on bonus or benefits, most drivers go down the road to bigger carriers.

I’m telling you, don’t be so hasty to jump into more trucks or to try to expand. Stick with what you have and save your money. THEN maybe buy one more truck. But you better have a brother, cousin or best friend with a CDL to drive because nobody else will stick their neck out to help you. This is not a good time to be expanding!
Replied on Wed, Sep 12, 2018 at 09:27 AM CST
First of all, great job. Not too many 22 year olds can achieve what you have in the last year. Secondly, do your research. My husband and I have our own company which we started 6 years ago, we have not expanded due to expenses. Our son, also 22 years old is working towards leasing onto us hopefully in the next year. Over the road trucking is hard. If you have a family my suggestion is don't do it, stay local if it is paying your bills and making you money. If not, then of course try the over the road and see what you think, but know that it becomes your life for better or worse. Not much of a social life or family life out here on the road day in and day out. You can make good money if you invest it and don't go blowing it on material things not needed or necessary. Either way there are losses and gains. Good luck young man, I pray for guidance for you.