Well, you've got the ambition going for you so that's good.....

CARB requirements for truck an TRU (trailer refrigeratation unit) its called are a bother. Since I live in the Midwest, I can find enough work to keep me busy without Cali. Think 2008 or newer truck and 2009 or newer reefer.

13 speed is a 9 speed with an overdrive splitter on the high range. 18speed is split hi and lo.

10 speeds are generally specd for mileage fleet trucks. Fewer people today seem to understand how to drive the 13 or 18.

The Detroit's historically have had the lowest maintenance costs over a cat or Cummins. Its reliable and solid. My series 60 will tie hills with most cats and give them a good run for their money.

As to running for brokers, I have some that I work with more often than others, but the key is communication. Say what you'll do and do it. And if you run into a glitch, own up to the fault. Be honest about what you can and will do. It's all you have out here to separate you from anyone else.

You can get business sense from anyplace. SBA, score, etc. Take a business management course too. Basic accounting wouldn't hurt either. That's why I am not a fan of Rutherford or Ramsey. They don't teach anything that's not available even in a business management for dummies book and its a whole lot cheaper.

 

In 2008 I bought my first truck for $35K. It was a 2003 Peterbilt 387 with a Cummins ISX and a Freedomline Autoshift. It had 560,000 miles on it when I bought it. I ran from Iowa to California and back weekly. I had a lot of issues in the first year but I had enough cash in the bank to make it through the rough start. Tires, turbo, charge air cooler, oil cooler.

I bought my truck as soon as I got out of driving school at the local community college and leased on to a small local company. I got my own authority in 2010 and starting doing my own thing.

The Peterbilt blew a head gasket in Dec of 2012 with 1.1 million miles on it. I decided it was time for a change so I sold the Pete to a salvage yard for $7200 and bought a 2006 Freightliner Columbia with 718,000 miles at a auction where a small trucking had went out of business. I paid $15,000 for it.

I haven't had any major expense yet with the Columbia. Tires, brakes and I had a air compressor go out and it cost me $800 to fix that.

I just run a little dedicated run now from my hometown to Joliet Il. It's about 330 miles each way and I am home everyday. $1400 a round with 0 deadhead miles. I unload and reload in the same door on both ends. I do 10 rounds a month.

 

In all seriousness. I used the dummies series as a text book for a computer class I taught.. I just like how they are set up.
Managerial Accounting For Dummies Cheat Sheet - For Dummies
Cost Accounting For Dummies Cheat Sheet - For Dummies
Business Management - For Dummies
http://www.dummies.com/store/Busines...-Business.html
Those three books would cost you half of Rutherford's material, explain things nicely and give you some real example. You should be able to check them out at a local Barnes & Noble or b Dalton book store.

I still have my college text books for doing this stuff. 5 semesters of accounting and 3 of business management. That background really makes me suspect of Rutherford and Ramsey.


Are these books the end all, be all books? Oh heck no. They are a starting place. If anything, they'll show you where to look at the bookstore or library for material.

 

Well first it sounds like you are not happy with your company so I personally wouldn't stay at a company that is abusing the drivers (making the owner rich), and some people don't even get bonuses so one's mans joke is money in another man's pocket. Also home time, do you follow company procedure and give proper notice that you need time off.

And yes be assure the owner and some of the office staff does have a CDL and can get in the truck and do the job.

Good luck to you.

 

Kevin Rutherford's book probably has a lot more info, but if you do a search for (The First Time Class-8 Lease-Purchase Owner-Op Guide.pdf) it contains a lot of info and is free.

 

Hey thanks mndriver.
Ill make a note of those books you've recommended and once i get back home from this run ill make sure to stop by a Barnes & Noble to check them out!

You really don't like this Rutherford guy huh? LOL. I know he's probably on the radio to promote himself and make money but he does give out great information from time to time.

 

WOW, that's what i'm talking about right there! I didn't really have enough time to read it all but i did a quick skim of it and that's great stuff, thank you for that. I'll be adding that to my list of things to read. Ill most likely print the whole thing out once i get back home that way i can take it with me on the road..

Thanks again

 

He's got a great marketing program. I'll give him that. But he's really only teaching general business skills. The products, oh..... Goes back to marketing classes.

I have spreadsheets I made myself just as effective as his online stuff. You can't tell me he sat their himself programming it in himself and making a web application. I know several others who have done their own stuff as well and its just as effective.

Not everyone drinks that koolaid. Again it's marketing KR has got a great marketing program figured out.

 

You can earn a good living as an owner, but few actually get rich. From your first post it sounds like you think your boss is making $5-6,000/week. Gross is not NET. I have owned trucks for many years and had drivers who also seemed to think that I was getting rich because of the gross revenue. You will find, if you proceed in buying a truck, that it costs a lot of money to run class 8 equipment. Margins are much less than most realize until they actually purchase a truck. You probably have a dispatcher who keeps you loaded and moving. When you get your authority, you will be responsible for finding and booking your own loads. If I were you, I would start by either putting my own spreadsheet together or go to the OOIDA website and download a copy of one they have available. It covers most of the basics and is interactive. You can plug in your own numbers to see how well you may do. Running a reefer usually means that you will run California. California has their own requirements concerning class 8 equipment. Trucks and reefers must meet their age and emissions requirements. Buying newer equipment will mean a higher capital investment starting out. You need to have a good cash reserve starting out. Class 8 equipment breaks down and you will need the means to make necessary repairs if you want to survive. You will also need cash for fuel and basic expenses. I don't recall your mentioning your cash position, but not having enough cash to start puts a lot of new owner operators out of business.

Buying your own equipment and getting your own authority is no guarantee of success. There is a high failure rate. For those who do survive, you can earn an above average income. If you want to start by restricting your area of operation and to be home 2 days a week and not run mountains, you are greatly limiting your earnings potential. In business, you need to follow the freight. Some owners do manage to get home on weekends, but that will greatly impact your income. You may find that you are making more as a company driver than running your own authority. I have had drivers come to me for a job who have told me that they make more with me than they did as an owner operator. You need to be honest with yourself and have realistic expectations. It would help if you had some contacts that could help keep your truck moving. A good rule of thumb is that you need to figure low on revenue and high on expenses. Many start out with unrealistic revenue expectations and low on expenses. Without a national discount, you could pay over $600 for a new tire on the road. A worn out used tire can easily go for over $200. I have blown as many as 3 tires on a single round. It is not the norm, but has happened.

One other thing to keep in mind is that some brokers won't load new carriers until they have been in business for at least 6-12 months. Most don't care as long as you have adequate insurance. You need to check on insurance. Premiums are usually high when drivers are young and inexperienced. Not all insurance companies write reefer insurance. Insurance companies will also likely hit you for a higher premium due to having a new MC number. All carriers who have been in business for any length of time have a safety record and shippers, brokers and insurance companies check to see if you are operating in a safe manner. I am not trying to be negative, but this business is not all profit. You need to be realistic in your expectations. For me, having my own authority was more than the potential for higher profits. I like the flexibility that it offers.