Any owner opps here? I got a question.

[Chris142]

I have my CDL with hazmat, tanker, doubles and tripples endorsments.

I drove for 4 years as a company driver. Every year I made less $ per mile.

I finally quit and went back to auto repair....Where I make more $ workin 40 hours a week than I did driving 100+ hours a week.

Is being an O/O worth it? I miss the big road, the squakin CB and the Purty seat covers.

I've been picking up the used truck mags and have a good idea as to what a used truck cost's.

How much is insurance, IFTA tags etc?

And as I mentioned before. Is it worth it to own the truck?

[ March 08, 2004, 12:02 AM: Message edited by: Chris142 ]

 

[cousincletus]

I have thought about doing this myself. I pull dry bulk tankers long distances and chickened out when I heard all the high fuel cost horror stories. Apparently when the fuel prices go up not all the customers will pay the fuel surcharge. So being that fuel is your single biggest expense, you end up paying for the higher cost of fuel, not the customer you are hauling for.
Most companies will cover your tags and insurance. Pretty much all you need is bobtail insurance, which costs about as much as your car insurance.
A dry bulk blower costs about 6-8 grand installed and you get a little more money for blowing off a load, but what I like most about specialty dry bulk loads is that they pay you for going back empty. That's right, no backhauls for some of these loads and you can still average about .90 a mile.

 

[Steve S]

I would say there must be better ways of making money. I did the owner operater gig in 1976 to 1978 much work for not enough money. I worked out of the teamsters union for a few years 1978 to 1982 before deregulation and would clear$700.00 a weak doing line hall work I don't think anybody makes that kind of money in adjusted dollars anymore. I still think trucks are neat .

 

[Chris142]

quote:

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Originally posted by cousincletus:
I have thought about doing this myself. I pull dry bulk tankers long distances and chickened out when I heard all the high fuel cost horror stories. Apparently when the fuel prices go up not all the customers will pay the fuel surcharge. So being that fuel is your single biggest expense, you end up paying for the higher cost of fuel, not the customer you are hauling for.
Most companies will cover your tags and insurance. Pretty much all you need is bobtail insurance, which costs about as much as your car insurance.
A dry bulk blower costs about 6-8 grand installed and you get a little more money for blowing off a load, but what I like most about specialty dry bulk loads is that they pay you for going back empty. That's right, no backhauls for some of these loads and you can still average about .90 a mile.

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Hey thats what I did! I hauled powder cement in Pneumatic trailers. We didn't get paid when we were empty though.

When I started I was averaging $1.00 per mile loaded, the company kept cutting the rates and since I was paid by tonnage this cut into my pay.

I was averaging $.16-.23 cpm when I quit.

I would pick up my truck at the yard, deadhead 30 minutes to the plant (unpaid), sometimes I would sit there 3-5 hours waiting to get loaded (unpaid), drive to Vegas (4 hours paid), then wait to unload 1-5 hours (unpaid), once empty I would deadhead to Laughlin (2 hours unpaid), wait to load (unpaid) a minumum of 2 hours......I have waited 15 hours here to load (unpaid) in a daycab!And then drive the 4.5 hours home(paid).

So in all it was roughly 400 miles, and 20+ hours for $64.00.

If I do it again I'm thinkin flatbed is the way to go.

 

[cousincletus]

A lot depends on where you're located. Money is fairly decent on the East Coast, and I go long distances with plastic pellets. Since the dmestic auto industry is stagnant right now, things are a little slow. The reason I do the dry bulk is so I can get home about every other day and most weekends, since every load is a turnaround. There are some companies that go longer distances than I do, but they don't seem to make much more money. As a company driver, you should easily be able to make 40,000. My best year was 48,000. As an owner operator I should be able to make between 50 and 60,000 somewhere, but I'm just too scared of these fuel prices to put up 10-$15,000 of my own money for down payments, etc. and lose it. This is an industry with a large overhead and a narrow profit margin. If things ever get back to normal I'll probably buy my own truck. I'll probably buy a 3 or so year old Mack with the Eaton trans and rears. Should be able to get a nice one for 35-40,000. These seem to hold up real well and rebuild parts prices are reasonable. The company uses Freightliners now and I'm unimpressed with them.