7 Things Every New Owner Operator Needs to Know
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- Опубликовано: 7 июн 2024
- 7 Things Every New Owner Operator Needs to Know. As a new owner operator, the whole business can be quite overwhelming. In this video, we'll give you 7 things you NEED to know when starting out in your new business venture.
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5 years???
I became an OO after 2yrs of getting my CDL
The longer you're a company driver, the harder to become a OO
A caged lion cannot survive in the wild
The biggest obstacle when transferring from Co to OO is the mentality. No shop or boss to pay for your repairs
I would love to see a video explaining how to start a small trucking company
5 years at the company level? You're a better man than me, I had to get out of that after 18 months!
Envyecho 5 years is too long. I had to jump into a owner operator 2 months after driving company. Screw that lol
i think he is erring on the side of caution here. 5 years is a good amount of time to see a variety of work. If you work for a company for 18 months there is a good chance you've only done flatbed, and maybe some dump. After 5 years you will have seen enough to a) become a really efficient driver and b) you know what you will love. Flatbed isn't for everyone.
Yeah and depends if you are getting a" walk away lease" or going after your own rig I'd say 1 to 2 years for a true walk away lease with maybe only penalty being a months payment or about 3 years for your own truck and 5 to 8 years for your own truck, trailer and authority. Sure you could be successful with less time or you could fail miserably and lose it all. I rather put some time in and learn the market I wanna enter before putting skin in the game.
Also depends how much cash you got going into it and the season going in with no reserve in October is a quick way to the poor house. Going in on it in March or April with 10k in the bank and a new truck will really give you the start you need to be successful, anyone that has done a winter in a truck knows how much money it can cost you from the interstate shutdowns to just equipment not wanting to work right cold and salt are a trucks worst enemy.
One thing ill elaborate further on is versatility.
Versatility of the driver and the truck!
As a lease op you must have a plethora of experience, make yourself invaluable.
Start young and build up experience with flat deck, Super B, Liquids, long combination vehicles and freight.
No job should be out of your ability. Things change, companies sell out, you might be forced to leave a partnership due to unforeseeable circumstances.
Now the tractor...
While the argument is always about resale I am more inclined to worry about overall weight, length of tractor.
Keep the wheelbase at or near 220, keep weight at or near 9000kg.
This can be achieved through a smaller bunk, super 40 axles and though other specifications.
While I loved a big 70-80 inch bunk, having a 48 bunk was plenty if you packed right. Keep your horsepower just below 500. Big HP and torque is nice but what I’ve found is it beats the hell out of the driveline and tires.
Don’t be too eager to jump on an 18 speed transmission. Due to constantly pulling super B I opted for an 18 but a simple 15 speed or even an 8ll can get you through any situation in North America. (Ask me how I know!)
Oh yeah…Go with boring white paint, larger companies love that.
Whenever possible keep your road speed at or just below 100kmh. This will save you huge over the period of a year through fuel and reduced tire wear.
Avoid excessive idling; be certain the truck you own has auxiliary bunk/ engine heaters with proper timers.
A bookkeeper will make or break you, choose wisely in this area! You can save bookkeeping costs by having a daily ledger detailing your expenses and loads, keep it simple!
Book keepers don’t like getting a box of receipts at your corporate year end..Well actually they don’t mind at all! They will just charge you extra for something that takes ten minutes to sort out at the end of day.
Now, personal care…
Whenever possible deliberately park a distance away from where you are stopping for break. Your body NEEDS you to keep moving and active, walking the few extra steps to get your coffee adds up to a healthier you.
When dispatch calls you in for that emergency delivery, be the guy that says yes once in awhile. This will help when you want a day off for personal matters, give and take is very important.
Repairs….
For the love of God! Expect issues with the truck! Check your attitude at the door when entering the dealer! When having a small repair done at a local Edmonton dealership I was floored at the attitude and abuse thrown towards the staff by lease ops and small business owners.
Don’t be an A-hole, put on your happy face and just accept that even the best dealerships are unable to wave a magic wand and have the vehicle operational.
Pissing off the service writers and lead hand is a great way to not have them squeeze you in the next time a repair is required. You want that local dealership to think happy thoughts when you step into that door or when they pick up the phone and hear your voice.
Pro tip: the odd box of timbits does wonders to better your relationship.
When they squeeze you in for a repair when overbooked be sure to show genuine gratitude. Remember they are people too, help make their day better not worse.
When having longer repairs done take this time to get out of the mechanic and service writers face. Go for lunch, do some self care. If close to home and have family, go spend a few hours with them! Your truck will be fine without you, not so much your wife and children.
Plan your vacations to coincide with expected repairs that occur over the trucks life. If you can’t afford time away for fun, reevaluate why you are doing this to begin with.
Time management is crucial in the trucking world, I can’t stress this enough. But this does not mean you have to be a cowboy out there.
I’ve yet to see a lease operator that runs over hours, always speeds, always in a rush become rich at this game. Trucking is like the tortoise and the hare, slow and steady will win the race, not sometimes but every time.
I could go on but let’s stop here for now.
Love your videos Dave, you have serious knowledge. :)
That seat looks so damn comfy dude
You forgot number 8... Learn to and be able to work on your own truck. Sounds silly but I am very mechanical and I save THOUSANDS every year by working on my own truck, changing my own oil, changing my own tires, doing my own repairs. Sure sometimes you have to take it to a shop but in the past 7 years, my truck has only been in a shop twice! Sure that means taking up part of my home time to work on my truck but at least I know I saved a ton of money and that it was done right or if something goes wrong after, the only one to blame is myself and I know how to fix it. I am not poor, broke, or a cheap ass but I also dont like trowing away money when I know I am capable of doing something myself and also, I cant justify paying a shop $150+ and hour for a 6 hour job to replace a $150 part. Its bad enough the dealers and truck stops overcharge you for parts... Shop around for parts too. I have saved thousands also by buying from places other than dealers and buying parts online. I know waiting for parts isnt always an option but when it is, I will always buy online or from somewhere other than the dealer when I can. Example, I just save $450 on a NEW turbo for my truck by buying from an outside truck parts place vs going to the dealer and changed it myself in 5 hours. Win win for me.
henry bob swillikers Thank you.
Kevin Morris spoken like a true owner operator
T Hollins 18 years out here, 15 of that as an owner operator. Owned 4 trucks, paid every one of them off and truck I have now, haven't had a payment in about 8 years on it. Depending what happens with this eld thing, I just might hang it up. Sadly my truck was built during the model year change over month of 1999, so it got titled as a 2000 and seeing I have no payment, no hurt feelings here if I park it and walk away.
While I'll agree with you for the most part, there needs to be a couple caveots here:
1) Know your limitations and abilities, some folks are just not mechanically inclined and could end up costing themselves more money than they tried to save. Just know that most things on a truck are big, expensive and not easily replaced should you break something cause you didn't know what you were doing.(see number 4).
2) Know whether or not what you are about to mess with is covered by warranty or not (ex. a turbo or injector pump, etc.). If it is, stop what you're doing and take it to a dealership to work on it, you paid for a warranty, use it. If it is not, or you are not sure about what you are doing, stop what you are doing and ask somebody for help.(see number 4).
3) Use the right tools for the job at hand. Now you don't need to own a 200+ thousand dollar diesel mechanics tool set to do the job, but don't use vice grips or channel locks (aka. adjustable pliers) on a fitting when you should be using a wrench or at the very least a crescent wrench (aka. adjustable wrench). If you don't have the proper tools, don't mess with it until you do have them (see number 1). That said, you can go to an auto parts store (AutoZone, Napa, Western Auto, etc, depending where you are on this rock of ours.) and either buy the tools you need, or if it's a specialty tool, you can rent them for a small fee vs the expense of buying it. Also, these folks (at the autoparts stores) can be a source of information for you to utilize, and most of them don't charge you for answering your questions. So ask them, at the very least if they don't have the information you need, they can point you in the right direction to find it.(see number 4)
4) And finally, if you are here reading this, you have at your finger tips two of the greatest sources of free information that you can ever have, Google and RUclips, as chances are likely that somebody has done a video explaining how to diagnose a problem and fix what ever it is you are working on. Even if if you think you know what you are doing, before you even put a wrench on the truck, search it out on RUclips, you just might find some information that you didn't know about it. Beyond that, Google is your friend, chances are likely a Google search will lead you right back here to RUclips. But it could also lead to more information at another source that you never even knew about, including some forums where truckers (and some mechanics) hang out and discuss problems they've had with their trucks.
The bottom line, in trucking (as with most things), time is money. Know whether or not you are going to save a couple bucks in parts or labor buy fixing it yourself but will cost you more downtime cause it took you longer to fix it, rather than the expense of having it fixed by a mechanic but saved you some downtime. The name of the game here is, minimizing your downtime, cause you're not making money when you are down irregardless of whom is fixing it. Weigh the cost vs benefits for the given problem, and do what's within your abilities vs what you might gain by having someone else fix it.
Very good points. Thanks.
5 years? My brother inlaw jumped straight into it and is doing good
5 years as a company driver? Wow you have more patients then i do. I'm not going to let myself be used and abused for 5 years. Life is too short and precious for that. I jumped into the owner operator side 2 months after driving company. I couldn't tolerate making 35 cents a mile and having to stay out for a month at a time and only being home for 3 days. And on top of that, nobody would finance a truck to me because my CDL is too recent. So i had to do it the old fashioned way and buy an older truck cashed. Give me a paid off truck and let me run regional, and I'm good.
He Miguel am in your shoes Brother , so what company took you with 2 months experience and where did you get insurance, am doing the same thing too.. advice please. Thanks
Kiiri James I never got a notification that you comment. So I'm a little late. Anyways I bought a truck with straight cash, and i leased it onto werner enterprise. Yes I know it's a mega company. But I have no choice due to experience purposes. Well In August I Will have my full year in. And I can bounce to landstar!
Kiiri James I have the insurance and plates all through werner
Dave is one real professional trucker. Lots of knowledge and experience. Thank you!!!
Hey, thank you sir! Dave
Dave great advice. My family has already given me the green light to pursue my dream. 100% backing from my family.
That's good of them! Not all are so understanding! Good luck Gene, I know you'll make it if you want it bad enough. Dave
Smart-Trucking.com Thank you ... I was an otr driver back in the days. Gave it up to be near the girls.
First thing is to get a sweet chair like that.
OMG He Is Right In 77. I got my First truck a 69 Pet .i never thought I would ever get it payed off and keep it Running.i ran that Truck 10 years
Without a doubt, this is one of the "Most Informative" videos on the internet for those looking to become an Owner Operator - Thank You so much for taking the time in sharing your professional knowledge !
Thank you sir, glad to help! Dave
Thank you Dave for your views I'm really learning alot about different approaches to this industry and I see you're all about safe Mr. Dave ain't taking no chance.
Wow there are a lot of RUclips channels out there and everybody's thinks they're an expert but this is the one channel I've come across where you truly have a lot of wisdom to share. Really appreciate the detail and insight and experience you bring to your Channel.
Good info Dave,keep the videos coming,their is nothing like old wisdom!!!!!!!
Always informative, covering all the bases with the driver in mind. Thank you!
Once Again, Great video..👍
I began as a Lease Op right out of school 2yrs ago and couldn't be happier. I've been very successful and now train & pick my own freight. I did have 14yrs experience operating a small business prior to getting into Trucking & I believe that was paramount in my success from the start. My goal is to get my authority in Jan 2019, suspend it until Jan 2020 when I purchace a new truck & trailer. This way my authority is seasoned(1yr) & I can pull freight for any broker once Im ready to go.
Good plan John. I can honestly say I loved running on my own authority. I know you'll like it too. Good luck and drive safe! Dave
Lots of respect to you Dave and I have been following you over the past two years learning lots thanks!
While I'm not currently interested in being an owner operator, I still appreciate the point of view and what goes into everything you go through.
Thanks for your advices ! Really good video.
Great video. Also, thanks for the info Kevin Morris.
Great video, thanks for those great Tips! :)
Thankz dave you r AWESOME to give great advice here.. i am learning today
Glad to help Derrick! Dave
One of the best videos I've ever seen made me really think about becoming an owner operator. thank you
Thanks Machon! Dave
Thansks for the info. A lot to think about.
Very good advice not just for new drivers. God bless. Be Safe out there drivers
I appreciate u sharing ur knowledge with us new guys and or those that are seriously considering this career.
Best trucking info. Thank you.
Thanks Dave, Lots of good information!
Thank you! Dave
Good info. Thanks brother!
I just love trucking
Being a trucker is my ultimate dream delivering Budweiser anywhere in the country.
Thank you for sharing your knowledge it is very helpful thanks again
Just realized watching this video that I passed you coming into Toronto a couple of weeks ago. Thought I recognized you as I pulled alongside. Cool...
Great video. Thx for the advice
Great video been really considering owner op
Ygank you for advices us.
Wow lots of really great tips thank you I appreciate your time in making this video.
company driver for 7 years looking at going in to owner op.
Thanks for watching Curtis! Dave
Thank you very much sir for this advice about be a owner operator, an the part on how it effects your family an having someone to help you run the company you can trust is very important . In all my 24 year of driving you have explained how to be a owner operator the best, Thank you for advice it's going to help me Decide! if being a Owner Operator or stay Company driver is right for me.
Thanks for the advices, I'll follow them, as I'm on my way to start it in Europe
Good luck Pam! Concentrate on staying safe!
Fine looking Peterbuilt and another good video. Thanks.
Thanks Marshall! Dave
Thank you for the video. It was most helpful. God Bless
Thank you,....you are an experience man....I will keeping mind.
Excellent Commentary,ive been a driver for 20 yrs and this couldn't have been told any better than this gentleman has told it. good luck im home every day less stress,.cmpy drvr of course.and this is trucking,...good night.
Thank you for all this informations
Wow.....talk about "someone knowing their' business!" Very informative...thanks.
Thanks Frank! Dave
This was really helpful thank you very much 👌
An BIG Thank you ! SIR !
So informative. Great information, thanks.
Great advise, thanks!
Thank you!
great info! thanks!
Thank you sir! Dave
Nice video!
Thanks! Dave
Great video great advice .
What a great, very very informative, honest video.
Thank you!
I'm going to do it. Will lease on to Landstar for a year then maybe get my own authority after that. Good luck out there guys.
Good Video. Thanks for the info!
Thanks Brian! Dave
Like the video... and I shared it on my Facebook. I will be starting my own videos, but I think that having other perpectives helps. You covered things that I have no experience with.
Big wake up call. Great video
A very good vid.Thanks.
Really good video bro great advice
Very good explanation,thanks
This is some solid advice!
Very good information about trucks.
Thank you!
didn't wait long enough for the info you already put out
Thanks Smart Trucker the info you give is very helpful i wish all drivers now days was like the old days help other now matter who you are. Keep up the good work 👏 👍
Great advice!
Thanks for watching!
thank you!!! :D
Finally someone with brains. I was a company driver with 15 years of flat bed. Then 15 years my own Trucks. My own authority. Good advise !!
Thank you for the information I'm hoping to make the jump to owner operator in the next few years and I'm content with the company I drive for I am taking the time to learn all the information I can about becoming an owner op
good video dave
Thank you! Dave
Thanks for the video. Lots of wise advice makes me think I'd better stick to company driving for now
What do you think about owner/ operator for more local work? I personally would like to get into more flat bed, low boy, and grain hauling since I come from the farm/ agriculture side of things. I'd like to be home most nights and haul equipment
great video. love the channel.
Thank you! Dave
Good instructions
This video helps so much. Thank you for making it! I plan to be an owner operator someday...
I wish you well in your endeavour, Lord! Dave
Thank you!
You're welcome! Dave
I also think about the next owner when I spec a new truck buy a truck that someone else would like to buy when you sell it
Called resale value. Very important consideration and a smart business move, in my opinion. Dave
Excellent Recomedations,Not easy to Share Your Experiencia
you are super.very good advise.
Thank you
I heard today that the dec. deadline for elec. log. was being pushed back😃 would be nice if true.
I had a freight shaker 2012 Cascadia 2.64 rear gears 10 speed with 450 Detroit 70 mph rpm's were at 15.50 started off like crap but it would run :)
You’re a class act sir. Appreciate all of your videos.
Very good and informitive
Totally agree
Thank you very much for your professional voice. My guy is a driver and we're thinking to buy a truck. God bless.
You're welcome Juney. Think long and hard before buying a truck. Extremely hard to find honest carriers to work for these days. Dave
Good video here. 21 years experience off an on since the early 80's and I've never been an owner operator and it's too late now for me to go that route I think. The information here is very good but the only thing I would take a slight issue with is waiting 5 years working for the same company before making the move. 5 years seems way too long. Cut that in half to 2.5 years and I think the results will be similar.
But this driver obviously knows what the hell he's talking about and what he shares here is invaluable to those considering making the move to being an owner operator. I do know one thing about the trucking business that starry eyed youngsters may not know. The profit margin is very small and you have to do EVERYTHING right to be a success at it. For example: The average profit margin for large trucking companies varies between 3 percent to about 4.5 percent so there is little room for error in this business. I do not know what the profit margin is for owner operators but I have been told that their profit margin very low as well. Does this mean you can't be successful as an owner operator ? Obviously no. And there is a large contigent of owner operators who make a good living at it.
Great advice sir
Thank you!
Wise words
Man that seat in your pete looks so damn comfortable.
That outro is awesome👌👌👌
Very informative and great video. I think i will wait to take the plunge when my kids have both graduated HS. Too many responsibilities currently, plus I have a local, paid hourly job. In my opinion as an o/o I would try to have/save as much cash as possible. I know credit and credit lines are the way now, but cash is clean. Being free and clear of debt is a great thing for an O/O or a company. Stay safe out there.
Sounds like you've thought this through well. Drive safe! Dave
Nice video. I ran flat bed on own authority so as to be able to broker and dispatch myself and therefore haul from any shipper - no company relationship with one company - I do not like that because if they fail you can fail with the company and you share their DOT record data and may or may not get pulled in for inspections, etc. I am not married so I used TBS for paperwork/book keeping and administrative back up which was very effective in terms of peace of mind to keep my mind "on the road". I liked being able to chose the load to control being able to chose the 'back haul' and thus create a route that help me predict: income production, where I got serviced, fueled, fed, showered, home time, or where I used down time. Also, usually there was no waiting to unload as with reefer and sometimes van - waiting will kill your time and shave off what money you could have made had the shipper/receiver loaded/unloaded on time. Running flatbed pays better than reefer or van. But the very best money was running fuel to oil/gas drill sites which can be sporadic work; but it is high income. I did not do my own mechanical unless it was real minor. I relied on being empty and going to a dealer (Peterbuilt) or reliable, tried-and-tested truck stop where I had faith in the technicians and that maintenance was on my predicted route plan. Have a nice day - and for anyone wanting to own, the very first thing you do is the research of what it takes to own and then making and following a plan. If you don't, you will fail.
Thank you Sir.. sounds like good advice. Eventually im gonna buy a truck to work with the company i work for now.
Best of luck!
Do you have your CDL for more then 2 years?
Please post a video on specting a truck for general haul. Flatbed,tank and van.
Okay, I can do that. Dave
Good vlog , would like to see one on witch tractor you'd buy Glider or not ?
Dave I always heard keep the rubber side down and the shinny side up.
5 years lol 😂 he trip’n
Agreed. That's nuts. Most companies dish out garbage pay. Owner operator or bust in my opinion.
Thanks Dave for answering my text , although it took forever " two weeks " anyways am your number one follower. Am from dallas Texas..still hoping to know if you have a one on one courses
samuel muriuki I'm In Dallas Tx As Well.....Working On My Authority And Getting On The Road.
Wow great video
Thanks! Dave