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How do I become a very successful O/O truck driver

by Larry Fettrow
(Yulee Fl.)

I have been an over the road long haul driver for 13 years as a company driver. I make around $48000 per year, I have saved some money.

If I find a reliable truck at a price I can afford and find a good CPA and tax attorney,where should I go from there? Get my own authority? Lease to a co.like Schneider who claims you pic your own loads?

Will I really make more money,or just feel better? Thanks

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Jun 12, 2023
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Success as an owner operator
by: The Crazy Trucker

1. Set money aside in maintenance/expense ccount and another amount in an major repair account weekly. These are business accounts on your EIN number.

2. Pay yourself weekly. You'll have a seperate personal account. I use ADP to do payroll. They take out and pay the taxes and issue a direct deposit to my personal bank account from my business account.

3. Don't spend money on unnecessary things until the truck is paid for and you have $20,000 set aside.

(If you have to replace the engine could be $10,000, transmission could be $10,000. DEF issues could cost $18,000!)

3. Keep your deadhead down.

4. Run for at least 2 or 3 weeks straight if possible before going home. (Unless there is a lot of freight taking you home and getting you loaded back out)

5. Always keep up with oil changes and PM on your truck and trailer.

6. Any time you stop, do a walk around on your truck and trailer, looking for things like nails in the tires, hanging lines, lines rubbing, fluid leaks. Listen for air leaks.

7. Do your pre-trips and post trips. You don't want to head out with a problem you could have solved before going on the road. You don't want to sleep with a problem that you could have fixed before morning.

This is not and exhaustive list but some things to help you out. You gave me an idea. I will make a longer post about this topic.

For now this page has a lot of information and insight to help Become a successful owner operator

Apr 04, 2011
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agree
by: american trucker

Larry
I have to say i agree with jimmy.
I would check at least 20-25 companies out.

Apr 03, 2011
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The big move.
by: Jimmy

You would probably just feel better, but you won't know unless you actually do it. I started out as an O/O, and finished up as an O/O, with company driving inbetween. (32 years). Just remember, all responsibilities are yours if you own your truck. I would suggest you buy only the power unit and lease on to a company that dispatches and finds the loads etc. Then in the future, you can go 100% O/O with the trailer also and authority. Jimmy

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