Would I Start Owner Operator Trucking now in 2022?
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- Опубликовано: 23 июн 2022
- Would I start owner operator trucking now in 2022? Here are my opinion and advise for people who wants to get into the owner operator trucking and the current owner operators, with consideration of the current high fuel cost and low feight rate situation.
#owneroperator #trucking
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I have a truck that is a 2006 long nose freight liner with AC5 cummins. 1.2 million miles. Owned by my brother hes giving it to me, very well maintained no leaks of any sort anywhere. Thinking about getting starting as a owner operator. Been a ccompany driver for a few years. Any thoughts? I don't really have the capital per se to get new tires on it or to get started is there any place that would help me get going?
Between my brother, his buddy, and my brother-in-law who are all do some mechanics. I'm sure that could help as well.
Im currently trucking. Also in midwest. I will say, never lease a truck. Make sure you also have some mechanical knowledge and some know how to do basic preventative maitenence. Make sure you have some business knowledge. Have a savings account. A health savings account. And a general know how of the industry.
Great summary!
Well said!
A good example are the swift and prime leasers set up for failure .
HSA’s are a scam unless you are rich.
Basically you become an indentured servant or share cropper. You’ll live and pay the bills but you’ll absolutely kill yourself to do it
Cheers
I'm retired from the military. Got into trucking last year. I base all my personal finances off my pension. Trucking is just extra. All business expenses gets paid by the business. Sitting at over 50% net profit so far for the year. I work when I feel like. Couldn't ask for nothing better. Fuel cost is high so you have to adjust and improve your strategy. Cut down on engine idle time, keep an eye on your instant MPG guage, calculate how much fuel is left in the tank to get you to the next least expensive fuel station, reduce your road speed, and haul light loads. Like I said, I've only been doing this for a year and it's really not that hard to comprehend.
Same here bro. I don't eat off this truck
This is exactly my plan . Going to retire pretty soon in 1.5 years with a pension and full benefits. Plan on getting a truck for extra $$ . When rates go back high , I will hustle and when rates drop , i stay home more and make enough to pay insurance and some . Saving now to buy a truck cash .
Good advice 👍
Exactly the same here. It's my business model. Lol. Will get better year 3 after insurance drop.
I agree. I’ve been in the game 22 years. I’ve seen them come and go. Give it a year and I think we’re gonna have some of the highest rates we’ve ever seen due to the new high fuel prices and we will then have a huge overflow of new owner operators coming in again thanking that these prices are going to last forever. Nothing changes but the drivers, the game remains the same. Keep the videos coming I love your perspective on things.
Thank you! Yes, I think the rate will be high within the next 6-12 months.
U r right but there wont be as high a percentage of new owner ops comin this time because the price to buy a truck it really high. Although truck prices may ease down a bit or a pinch they will still be generally high, so there will be some new owner ops but not a big flood of em.
Well never have high rates with too many trucks on the road
@@eddybrownII The economics of supply and demand favors your opinion.
Great video. Your spot on. Thanks for you advice!
Thank you 💚you break it down it a simple understandable way 👍🏻
Great advice! Always enjoy to hear your thoughts and comments. Looking forward for your next video!
Thank you! ❤️
Thanks for the info man. Much respect for you 🙏🏼
You are welcome
I always enjoy your videos, thanks brother, God bless
alright Rayan! good advice! glad your always on top of things when it comes up! you take care, God Bless you and your family ❤! Godspeed!!
Thank you!
So happy this video is made ,and i had the opportunity to see it ,
Back in 93 i became and owner operator, by 2011 , when 911 hit , i game it up , had $ 8000 still waiting to come in , and i became a driver . Since then ive been driving for 3 different companies. Long stay , 5yrs each one , or so ...
Today on my 3rd driving job , im still working , as a driver , made 6yrs , im 54 yrs old , and i just feel , what im doing for my boss , i can do for myself , two loads a day , finish early, take a day off when i like , spend more time with my family , not just Sundays or holidays, when i want ...no more wake up at 4am ....must ...which im a early bird , and ive always wake up early . So ill just be more on top ...when its your own business.
So i pulled the trigger and put a deposit on a Freightliner, im waiting to hear if the loan will be approved , now i know what i have to spend , and what has to be done ......
Seeing this video makes me think twice .....thank you for your honesty , and all the kind words .....
Great view, thank you!
You are welcome!
Entered this year with 8 months of authority now and solid plan. Bought older equipment and do all my own maintenance. Doing OK.
great advice thanks Ryan LA Dave, I'm back I guess. good stuff !!!
Thank David!
Smart staying out of driving, Doing the Tech gig is best long term for income. At my work there many mechanics but only 1 tech that knows how to diag and repair properly.
Man this video is spot on the money.. 100% true and as u may imagine, alot of owner ops instinctively did what u just said.. Park or sell the truck and go company.
Im a new owner op as of Nov 2021 so it was just my luck that i only got a couple pieces of the pie before it was all gone lol.. After January 2022 it was misery in rates lol
I parked mine in April and now im going back company for a bit. Will only sell my Cascadia for the right price and that is wayy lower than 98% of the prices in my area here in soCal.
If it doesnt sell, ill keep fine tuning and polishin it up here in there and be ready to give it another go when the demand comes back.
Thanks for this video.
Good luck! Thank you for sharing your story!
yea I agree. my dad is a semi driver and I'm 30 now and have thought of getting into trucking. but I would only do heavy hauling that's where the money is at. or do hazard material hauling. because the standard freight isn't doing good at all I'm hearing.
One of my favorite channels.
Thank you!
Thanks for the info,
Right on Ryan Good advice and awesome job you have a smart intelligent head on ur shoulders and I'm honored I got the opertunity to meet and get to know you I only wish I would of met you 2 years ago and I wouldn't be in the pickle I'm in with my truck but everything happens for a Reason and I have 100% faith in you and Don't think I would work or trust anyone other then yourself again because you're just that type of person.
Thank you! 🙏
So much good information, this is the best advice for free. Common sense not so common. Thank you Ryan.
Best comment ever! 👍👍👍
Thank you for sharing, LoL happy 4th of July!🌅🌅🌅
You are welcome! Happy 4th July!
As a 30 year driver I’m jumping into the O/O thing doing flatbed in early 2024. I am going about it a little different than most, I got a nice used truck with a new rebuilt 12.7 series 60 and I paid cash for it. I am hoping come November we get someone if office that likes this country and that’ll help tremendously
Thanks Ryan for opnion. Help a lot. Tks
You are welcome!
You make a good point about contending with poor drivers. I'm a six month rookie and I expected to deal with 4 wheelers being idiots, but I have since realized that there are a lot of truck drivers even worse than them. I haul doubles at night with a 21 T680 and every night at least one and usually a few truck drivers will change lanes in front of me when I am going faster than they are which quickly erodes my safe braking distance. I commonly get them where the collision mitigation goes wild and beeps like crazy while showing less than a second of time/distance. This situation was totally unexpected.
I respect truck drivers but you’re right, there’s a lot of idiot truck drivers out there. I almost got ran off the highway when I was trying to merge onto it. Whenever truck drivers or regular cars are merging onto the highway I always change to the left lane to let them merge on.
@@gabrielfranco9786 this!!!! Lots of A hole truckers especially when it comes to the ramps
Yes there are idiots but are you sure the idiot isn't you? I see it all the time. A car or truck on the shoulder with flashing lights means you are supposed to move over, rather than blow by them at 70mph with a foot of clearance. And if that means the cowboy in the left lane has to slow down 5mph for 10 seconds then so be it. Same with truck stop ramps. I'm not gonna get stuck in the granny lane because some tard needs to pass me 1 mph faster. Just be patient and understanding what could be ahead. There's usually a reason for people's actions. Yeah sometimes they're just idiots but most of the time no.
Very well explained 👏 👌
Thank you!!
Thanks for the update! I’m in the wall about to buying my first equipment! Already got approved but I’m having second thoughts about it! I think I’ll hold on till the end of this year
Same here, good thing I ran into this video
I'd wait
..I hate it personally
Yeah, that’s good advice
Once again.. great video and excellent advice (i parked mine a couple months ago.
Question.. What did u say made u stop truckin for good? I couldnt understand that part in this video?
I lost patience with the people driving on highway. Don’t want to drive any more.
Thank you very helpful info I’m a new guy .
You are welcome
I’m glad that I live 30 min from your shop. Looking forward to work with you :)
Of course, looking forwarding do doing business with you!
@@truckingandfixing hey Ryan. Where is your shop located?
1120 High Ave SW Canton Ohio 44707
when do you think prices on equipment will drop? I'm getting my first used truck right now and don't want to pay extra. I have a felling prices will drop in a month or two and stay on that level for a while until rates go up and prices on trucks will go up again
I think the PPE loan had lured so many people into becoming owner operators too.
I know 5 pple that got loans to get a truck.
I agree but it broke them
I paid my truck off in the first year and half of purchasing it. I now have a dedicated route with low overhead. The first year was rough as my truck was in the shop for over 6 months waiting on parts. Luckily I had capital put away in case of an emergency and I even went back to being a company driver for a few months till the truck was repaired. If I can't find a place to live with reasonable rent, then I'll stay in the truck until I find what I want. In other words, SAVE as much money as you can and eliminate overhead every chance you get and keep a healthy maintenance fund. Good advice in this video.
Great video
In the military we had the concept of force multipliers. What we have now is a recession multiplier, his name is Brandon. Its like we are living 'Welcome back Jimmy Carter...'
Thanks for video
You are welcome!
Father was a trucker & not a trucker myself. But as a macroeconomist, I can tell you 1st hand how far up to their eyeballs in debt people got into during the COVID run-up. People would buy houses, then take out equity lines of credit against them to buy expensive sports cars.
Since February, market has gotten brutal. Some homes here in the Toronto, Ontario area have fallen 30%+ in price & foreclosures......well they've arrived! It's everywhere in North America too, really crazy what transpired
Crazy time
Would you do a video on your road call work that you done
to many non clds living in rented box trucks working for O but hey it was better then 12$ an hour at micky Ds
22 year old Ohio boy here with a Class A and 5 years of heavy truck mechanic experience. Gonna buy a truck with cash this winter and start next spring. Love these videos and any advice I can get from experienced guys. Truckers are some of the most helpful friendly guys out there it seems to me.
Build your credit by financing one
I agree! Finance at least partially to build your credit if rates arent too high. At age 22, your short credit history is a drawback in some cases. best of luck to you in the industry 👌
Trucking sucks man don’t do it
If you’re trying to get in right now right now I’d wait or try to start with as low of costs as possible when rates tanked I was only able to get by because I had connections with brokers so they were directly sending loads to me and I was able to run averaging 2.40-2.60 all miles and I was fine.
I became an o/o in the middle of the high rates. Not because freight was good but because the company I was driving for closed doors and gave me a good deal on q 2020 Pete 389
I’m new to the game just got a truck in march. What your saying makes so much sense. I was a company driver for 8 years so not new to trucking and I’m kinda shocked that I’ve never heard that before. The cyclical nature of the business. So thanks for that. I little ray of hope.
Good luck!
How is it going for u and what type trailer do u pull if u dont mind telling us
@@koollee it’s going pretty good. I’m putting a 53’ step deck that holds a 20’ container loaded with 20 000kg of product
See man I see all these drivers and people always want to buy new things when everything seems to be good with rates and the economy but I don't. And what's going on now is one reason why I don't buy brand new 100 thousand dollar trucks or even a brand new car. I still drive a 99 gmc Yukon and my truck is a 98 kenworth w900 I had for years. I just keep up with what I have and avoid having payments. When the rates are low and the fuel costs is high I can afford to park it and wait until everything gets better compared to the guys out here with truck payments running cheap loads trying to get buy. I set myself up for success not failure. When rates are high I work hard and save my money instead of buying a brand new truck or car. The only thing I'm financing is my house that's it
flat bed rates are all over the place. Companies throwing out 1,500 for a 200 mile load one day then a few weeks later the same load in only 900. The rates haven't seemed to budge with fuel going up either.
Hello Ryan big fan of your Video’s very informative. Whats your address of your shop so when I’m out in that area if i need any work done to my truck i can stop by your shop. Thanks
1120 high ave sw canton Ohio 44707
Can Mr Ryan or any subs with engine KNOWLEDGE give some feedback on an engine, (Mercedes mbe 4000 motor)....
Is it a wise decision to purchase if truck is mint with a million miles and runs good.
1st cash truck- starter.
2006 Pre-emissions-
Thank you in advance for any information.
I agree just like farming, I’m about ready to get out of the truck
Good luck!
Nices love farming jobs is the one 👌
Yes I Would
This business sucks with the idiots on the road , supply chain shortage, the fuel , the rates , but my truck is paid off and I don't know anything else.
Truck is normally the biggest expense. Since it is paid, you should be in the best place.
Love your videos, I waiting till next year to buy , prices are going down dealers are trying to tell me to buy right now .
Good luck
Thanks
Just seen this channel ..I tell you what ,my truck just burned down to the ground 2 weeks ago ...my truck was paid for .. insurance will cover it ...but honestly, I would get another truck ...only cash ........on the other hand I might go company ,and leave all the headaches away ...fuel isn't going down ..I remember when diesel was 95cents.. & trust me money will keep going on up...... I think I had my fun ..23 years ......so you young guys .....save ,save & save ......
So is it easier to deal with low rates if you get a less expensive truck and have a smaller payment? Like something a little older? Maybe wait to buy something until the marker favors buyers a little more? What about lease operators? How do the rates affect you if you're leased on to a company? I'm currently a company driver. The company I work for hauls Mercedes Sprinter cargo vans and the price per mile is, IIRC, set in contract with MBUSA. We have lease operators. I would imagine their rates, at least for the Sprinters (if not the POVs) are set and don't move. I would imagine it's not the same for all lease drivers. Different companies, I expect, do things differently.
Wonderful
👍
I can already see truck prices dropping, it's a cycle to see who will survive
👍
Tied to a tree and bashed with a shovel : )....lets hope that doesn't happen. I'll be looking for a trlr, maybe 2, at fire sale prices. You are absolutely correct.
👍
If you save up enough to buy a new truck cash, you can make it in any market. I'm not sure where you're getting this $2 per mile stuff. That's just for dry van. Reefer Is $2.70-$3 per mile.
Peterbilt 579 2023 radio shutoff every 30 minutes! I bought it new for $160k 5 year full warranty. Any guesses?
What if we bought a Tesla truck instead? I know we probably won’t be able to for a while but a lot of the negatives you mention don’t seem like they would be an issue if someone went that route in the future
But with the shortage of drivers you would think rates would be high to entice more drivers. Good videos.
I have noticed many drivers entered in trucking last year
You would think. But there is no driver shortage never has been
The whole driver shortage thing is bs
There is no shortage of drivers.....but there will be...
There’s no driver shortage. Just a shortage of drivers willing to take crappy low paying loads.
You’ll be out of business if you’re unable to negotiate rates or if you’re unable to calculate net figures, expenses, and adequate budgeting. I don’t see truck prices ever dropping to 125k. But who knows… have you ever seen truck prices reset 60k brand new?
Or you buy something per emissions and have paid almost 3/4 of the value of the amount that you paid for the truck to repair and replace neglected or poorly fixed components...... And now I'm just starting to get discoloring on the number two exhaust cam lobe typical Cummins ISX problem there's more money down the drain.....
Although I guess it's still better than the 10 to $15,000 trips to Kenworth that usually included a tow for paccar emissions problems that they seem to never be able to fix hell half the time I couldn't even make it more than 5 miles down the road from the dealership.....
Most of the dealer shops hire the guys and pay them $20 a hour, most of those people don’t really know the system well to diagnose the issue properly. That is why you keep paying high dollars for a simple issue.
2021 was the best year for me, but now it's just struggle , we have too many trucks on the road, and the rates are bottom.
Get thru this year, it will be better
I did this same video last week on my channel….thank God my Truck is payed for and the guy that had it before me took pretty good care of it😉
Will check out your channel! 👍
@@truckingandfixing I have Ryan’s old truck😉
Before you buying a truck you should check your truck insurance cost for you, and I believe it’s no a good time for been owner operator by now, I’m seeing new owners op got bankrupts in few months,
Hi Ryan , can I get your shop info so when I going through OH.. I can have my truck PM there at your shop
Here is our shop website www.foxtruckandtractor.com/
It'll be a lot better if you lease on to a company And do Local runs or regional
Sounds like you don't like how people drive on the roadway. welcome to the club. I started driving July 1991. I applaud anyone who quits and does anything else.
👍
I could not have asked for a perfect time to get into trucking . Tons of used Volvos hitting market the people who are having the problems is the ones who paid highest for equipment . There are companies paying 1800 a day regional but 90% of the are looking in the wrong lanes government contract are still out here and everyone complaining . The money is out here maybe not to for OTR . I seen companies asking for 2 yrs exp 200k a yr . Look in the right places that's all I say .
In Trucking it’s simple save your
Money period
Get your own authority and contract you business to companies. That need stuff shipped. That’s what I did.
I just finished my 90days and the key is keeping expenses low
👍
It's July 2022 ? How is that possible?
If youre not making enough to take care of yourself, park it and figure out what you dont know.
I think it has more to do with the boom and bust theory than supply and demand. The government came in and started overfunding the trucking industry so that goods could be made cheaper, now people are buying less due to companies wanting to charge more for products, so consumers are changing how they spend their money which means less dependency on freight. Companies should have learned how to make less profit as a result of industrialization, instead of the opposite, then people would actually want to give out their hard-earned cash rather than be ripped off. Companies like Amazon should, in theory, make products more affordable due to efficiencies in logistics, but for some reason over the past two decades, this is the opposite of what has happened. Oil and gas, the auto industry, and the energy industry, have all been increasing prices in order to increase profits and this is the problem and always will be, All profit is theft, to a degree, imo. If the cause of the freight industry boom-bust cycles is government interference, then the solution would be to keep the government out of the freight market and let companies and workers solve the issue themselves, stop funding mega carriers in hopes they might soon create electric trucks, which they won't, because they will only use that money to buy more cheap labor and take out the competition, until eventually, they can devalue human labor so much that we will actually be cheaper to employ than AI trucks. We literally live in the age where the government and banks don't care about working people anymore, and only care about how to make more money off of giving away money.
We need small government!
I am a dispatcher. I am in this business for like 5 years now. Never seen Market this bad. I usually dispatched my drivers in like 30 mins with the best paying load available in the market but now it takes like 3-4 hours to find the best paying load even then it doesn't match the standards of a good paying freight. We are a dispatching company "Avalon Dispatch Services" who work hard to find best paying freight available for our drivers in this Market. I just Wish this Russian and Ukraine war is over so Everything gets back to normal and fuel prices starts to comeback and Chinas Lockdown is lifted because a lot of freight comes directly from China.
We Stand with our Carriers every step of the Way.
Good summary! Good luck for your business 👍
Hey shahzaib, i agree with you, hope we get over these crisis soon. can you please share your contact info, i need some info. Will really appreciate your help in this regard.
Smart mtf for leaving owner operator.
Depend I'm making 2600 net working 7 hours daily that's all ,dedicated freight Monday to Friday 7 hours a day. Same route home daily they got couple jobs like that , but Im making that because my truck Is 8mpg hauling 3 thousand pounds. But here is experience and how you can handle that diesel pedal.
Is that weekly?
@@theentrepreneur607 yes
@@gst4043 but you’re owner operator right? You run power only?
@@theentrepreneur607 Yes dedicated freight
I called truck stop they were saying flatbed rates 7$mile
But my question is - if its not a good time to run independent NOW, when is a good time to buy a truck? Now because people are jumping ship and giving up their trucks?
If fuel ever normalizes
I would absolutely go for it if i had them means to do so or given the opportunity to become a owner op and own my own truck but its not easy ..i wish
I'm seeing a lot of equipment coming on line too.....and it's not moving!!!
Good point!
Fuel
Truck Prices
Bad Rates
Supply Chain
Impending Electronic vehicle roll out
Automation
NOT A GOOD TIME TO BECOME A NEW OO/IC
Watch Wait Look for Stabilization & Minimize Financial Risk
Good points!
I wouldn't, but if I was too. I would have some financial schooling, a min. of $30k in your savings for the truck only. If you're leasing? You're just a glorified company driver.
I would stay with a good company like Walmart at $100k+ a year, or Krogers is begging for drivers & depending on your experience. They pay $25+ an hour.
only problem when u park ur truck.. that money u saved up.. made from the driver prospective.. will be spent for the truck sittin causin more problems..
All you talking about it true and clear, I myself put extra money on the sides for maintenance at least $ 200. Dollars per week, thanks brother
You are welcome!
How to be an O/O, paid off truck, be your own mechanic, and love getting stuck in NY. Do these 3 things and you’ll laugh at $25 dollar a gallon fuel.
🙏🏿❤️💪🏿
Thank you!
The guys thinking they can hammer down and leave the engine running all night won’t make money. The guys using cruise control at moderate speeds and shitting the dang thing off at night will succeed admirably. Especially with rising rates due to fuel costs
Cheers
You need to stick with one job one opinion you failed at driving a truck or something of that nature. It was just like the episode with the sense wire on tripak say you would run wire to battery. There was a battery source 3 inches away
Yeah I had to pk my truck because I need to repair my truck . so now I’m yard jockey making $25hr..
Not bad. 💪
What’s the best way to know your expenses well?
Document EVERYTHING and then sit down and do the math
Good question! I made a video on how to calculate your cost while I was trucking. Maybe check it out How to Calculate Owner Operator Costs / Cost Per Mile - Owner Operator Trucking
ruclips.net/video/JlKKSKLBJgA/видео.html
I use Quickbooks. It's tied to my business checking and savings accounts, I take a picture of every single receipt, I process every transaction inside quickbooks at the end of every week, and then I run a profit and loss report by percentage and display it by months. Right now 24% of my gross profit goes to fuel. 9% goes to insurance. Less than 1% goes to truck payment and so on.... Overall net profit is sitting at 51%.
You would need 150,000 cash cushion to start a new operation now.
The Time To Buy a Truck is nearing, while and if the prices keep dropping, you don't Become An O/O when rates are high by that point you're already late!
That's what I'm doing is waiting...they're already dropping like crazy on Facebook market place
Hey Guys I don't know if anyone's looking for a OTR job but we're a family owned company and are looking to hire 1-2 SOLO or TEAM drivers. 2022 Freightliner. We have a 53' reefer unit and 95% of the load we run are hazmat/tanker loads. totes, drums, pails, etc... let me know if anyone is interested 70-80 CPM. min 1 year exp needed.
Where do you run out of?
@@dominant_male5605 PA. 40 mins from center Philly
Rates were not good from year and half… rates were good from june/july 2021.
Before that hardly 2.50 $ a miles… according to my 9 year experience broker always pays good just only 7/8 months after every 2 years. when truckers do protests. This time rayez were extra ordinary because of pandamic or shortage but only from july 2021 to February 2022…. Now brokers started filling their bank account… trucking business will grow when brokers wil get lost like most of dispatchers due to online load boards
My truck is payed off and parked intill rates go up...
Good strategy
Can u hit me up when u find cheap freightliner from 2015 up to 2017 please