Greetings ALL!
I am not an O/O, so hopefully won't be kicked outta this area. What I am is a "futurebe" at the moment. Set up to go to school in Nov, then on to be a company driver with CFI. We (wife and I) are going to school together, and planning on running team.
Now for the O/O part and the ?'s.
If we run a year as company drivers, and save a decent down payment for our own truck (purchase, not lease), then look to lease on with a company for a year or so, THEN look to get our own authority,,would that be a realistic business plan and goal? Also is there more advantage ($$) in being able to run team as O/O as there is with company driving (much difference in take home $) I dont see much activity talking about running team as O/O's...is there a reason for this? Don't need to? Not good idea? Not worth the extra time??
I have been a mgr with a large aviation company for several yrs, and wife and I have run our own motorcycle business for 4 years, so we do have SOME idea of business, tho not experts by any stretch of the imagination.
I have read Merrick4's thread and some others with great interest! Like them, I appreciate ALL inputs, as right now it is just putting info together, and trying to develope and goals to achieve, and try to be somewhat smart about it. (smart = not doing something dumb that cost major $$).
Cheers!!

 

you have a better chance making money as a team than going solo. CFI is a great place to start, they don't let 6 month rookies train anybody. You need 120,000miles to be considered as a trainer.

 

Theoretically you can make more money as a team because 1) expedited pays more and 2) you are utilizing your assets more efficiently.

But in reality we get on each others nerves.

 

You running team then? So you run twice as hard for half the time, and have twice as much time off???

 

I know a husband wife O/O team that runs for Fedex ground and are very happy there. I believe they are leased to a small fleet that actually has the contract with Fedex. It's all drop & hook - They never see a dock!

 

No I don't. I just do local. I meant "we" as in the human race.

We have a driver that used to run team for Quick-X. IIRC, they did Toronto - Winnipeg - Toronto. He lasted less than a year becasue his co-driver fell asleep at the wheel and our driver got bounced out of the bunk. After that he couldn't sleep while the truck was moving so he'd be up all the time so he quit and came to us. He's got a dedicated truck and he can take his wife with him when he wants. He's home 3-4 nights a week. Stuff like that.

I think he said he made $.42/km solo and $.46/km team for every km the truck moved.

 

As a leased O/O team, you likely won't make any more money than you would as a company team...in several cases you'll make less. What you will gain is the freedom to take time off on your schedule. Basically, for the greater "freedom" you move to a situation where the upside is basically the same but there's a greater downside. This, of course, varies by company but most companies that will hire someone with one year of experience and no O/O experience will fall into this category.

However, it is a good stepping stone when buying your own truck. The reason is that it gives you stability while trying something new, so you shouldn't have to worry about getting behind with the bills as you learn. You could also choose to go the direction Steve has, in which case you'll want a good-sized cushion of cash. I think his analysis of what you'll need at start-up is pretty good.

Moving into your own authority as a team is tricky. Many think that they'll be able to get the higher rates and still turn team miles. It's actually pretty rare to find teams that are able to do that. What many find, including myself, is that you can indeed get higher rates, but you won't get near the miles you'd hoped for. Or conversely, you can get the miles but your rates will be much lower. Again, you have to decide what you want. You will quite probably have to decide which is more important to you; a higher net at the end of the year or a higher average per mile. Much of it will depend on where you're at in life and what you're in this game for.

 

Thanks No Worries, that is the stuff I need to hear. Sounds like it may be better to plan on solo type running with option to run longer if needed, at least when running under your own authority. We definately would want to be able to enjoy the country abit, and not run our shoes off at that point.
Is it fair to ASSume that if you have done a good job for a company as company team drivers, they would be likely to lease you as O/O? Again, we are planning on CFI at the moment, and they do lease O/O's.
Again, thanks for the input, and would appreciate ANY others as well!
Cheers

 

I think your time schedule is doable. Whether it makes financial sense is another thing to consider. You can make fairly decent money running team for a carrier. If you buy a truck, get with a good company with decent rates and a good freight base, you should do pretty well. If you decide to follow through and get your authority, you will probably need to concentrate on longer runs to do well as a team operation.

I met a couple running team as owner operator with Covenant. The wife told me they were clearing about $0.28/mile after expenses. They could make as much or more as company drivers. If you can get a higher mileage rate or lease to a carrier who pays percentage, you could make more money. The advantage to being an owner operator and leasing to a carrier as a team is that you would be together and learning the business side of trucking. Running a truck is expensive. To make money you need to operate it as a business. Running team means your expenses will be double for that running solo, except for the truck payments. Putting more miles on the truck means you will need to replace tires and other parts more quickly. Instead of running 2,500-3,500/week, you will run 5,000-7,500.

Being so close as in a truck can be difficult for some couples. Others seem to do well in that environment. I am glad to see that you will take your time in getting a truck. You should get an idea of how you like being so close in a year. With both of you working, you may be able to save enough to pay cash for a truck in a year or so.

 

Thanks GMan
As others have noted, your the man! I really appreciate your thoughts and the others here that have been there, done that, and survived!
Wife and I are pretty good together, and dont expect any real problems with that, or we wouldnt try it. The more we're together, the better it gets.
I am kinda thinkin after a year of running team for CFI, that we might have an "in" with them to get on as O/O's. Now with their venture with ConWay, freight hopefully wont be a problem.
I am also thinking along the lines of going with Loadstar when we begin our own authority, just to have that extra bit of "insurance" to be successful at this.
At this point, the business plan is as fluid as water, totally adjustable, but just want to make sure when we finally decide on a direction, that we have a readily identified target to shoot for.
Once again, thanks for the input!
Cheers