Owner Operator Guide: Start-Up Cost and Checklist (Hidden costs, Tips for Success, Must-have Items)

[@veracityseven]

46 years old, drove truck back in the early 2000's. Been out of the industry for 15 years, but I'm going back in...wish me luck!

[@daMillenialTrucker]

Good luck driver, be safe!

[@edwardbell3911]

Keep on keeping

[@chrisdab-]

Good luck and break an axle ;-)

[@edwardbell3911]

@@chrisdab- Need a driver let me know..

[@frankrodriguezit]

Hope ur doing well, welcome back to the road my friend ✊🏽

[@mikeleggiero2524]

Most people don't look at the big picture . Been a own op for 20 years and in this industry for 30 years . Owned everything from a15 thousand dollar truck to custom sleeper trucks that cost 265000 dollars . All as a solo . Pulled open deck for 99 percent of the time also owned flat bed step deck and conasgostas . The company I am least to my avg is 2.45 a loaded and empty mile after the company gets there 26 percent. The best thing I can tell you is to know your cost not only for your trucking business but your house hold bills to . Next is to break that down to a daily basis so you know what you need to make each week. Be for fuel I my self need to make 220 dollars a day just to make my all my bills. Add fuel breakdown and taxes that will help you out so you don't over work the truck and your self. The truck needs to make money if it runs or not. There's 7 days in a week I will make money every day but not work more then 4 to 5 days a week and won't drive more then 2300 mile a week. My wife tells me to leave the house if I been home to long.

[@lax2121]

Cheating maybe?

[@davehughesfarm7983]

This was spot on....I pretty much had 30,000 in before I ever got a going and I expected it...That 30,000 includes a truck, a hopper bottom and a stepdeck...Bought em' cheap and fixed them up myself..

[@leewilliamson3010]

I’m currently in transition. I’ve been off for three weeks and loving it! I paid cash for my truck. No truck payment due. I have taken time to vacation with my family and it’s been great. If I financed my truck I would have a totally different perspective. Thanks for the info

[@Damo_81]

Awesome vid. Just started with a company and I have owner/operator aspirations. Definitely going to soak up as much knowledge as I can and haul as many different things as I can. Thanks man.

[@bronxbomber80]

Thanks!

[@NorthAmerican-Trucking-News]

Thanks for watching!!

[@GeorgiaRed]

I been driving 20 yrs but not placed my money in right way but now I’m starting fresh and will get there🙄🙄👌🏾👌🏾👌🏾thks for this

[@mshamdan7199]

Thank you for the video... The GOLDEN WORD "WHEN WE UNITE WE MAKE A BIG DIFFERENCE" that what I wanted always to let drivers know...

[@NorthAmerican-Trucking-News]

Absolutely!

[@Trucker_Josh]

Great video!

[@NorthAmerican-Trucking-News]

Thanks for watching!

[@Trucker_Josh]

@@NorthAmerican-Trucking-News I'm binge watching a lot of your videos right now on starting a small company. You have a lot of great info. Thank you for doing these. I know they're a lot of work.

[@Snowwhitepro]

This guy should open his own channel. He the guy we all love

[@darrenfredrickson2877]

Thanks for the channel! I was an owner operator with 4 trucks 20 years ago, now I'm 55 and thinking about doing it again with 2 trucks. Good info on here.

[@abdelrahmanshohoud708]

I was playing days gone while watching this video and i saw it on the tv part what a counsidence :D

[@thomaskirkpatrick4031]

I've been saying that these companies that train you to get your CDL, but not train a driver on running a business are taking advantage of anyone they talk into a lease purchase.

[@theodoregrader8270]

Can I just say that I love that Days Gone was on the TV. I just started playing that recently LOL

[@Justflyingtrucker]

By far the most underrated channel about trucking industry for truckers. 5/5⭐️

[@justinbrooks326]

This guy is one of the best on keeping it straight and up to date. When mans said tv and fridge i said thank god he is speaking modern trucking😂. Protect this guy at all costs

[@joeblowe5813]

No, he's not. You DO NOT need to shell out no $1,800 for no damn refrigerator. No more than $500 should be perfectly adequate to get you a very nice refrigerator/freezer combo that will function very well on your truck, probably even with locking latches to keep the doors from opening when you hit those inevitable and unavoidable bumps and potholes on the road.

[@michaelwright1602]

Good video, you need a video on these EPA trucks and how much it really costs to own one. The real costs. And proper gearing, auto vs standard shift, etc. The older trucks, easy to maintain, and less expensive in the long run if you find the right one, and pay cash if possible. You better be able to turn a wrench and know how to diagnose the EPA systems yourself. That $20,000 will be $50,000 if you refuse to work on and learn the systems. In frames start at $30,000, turbos are now $6,000+ at the Stealerships. Shops charge roughly $165 an hour, learn how to work on your own truck!

[@joeblowe5813]

I will definitely agree that there is tremendous value in knowing how diesel engines work and being able to work on them yourself. You can definitely save A LOT of money that way, in labor costs at least. On that one I will absolutely concur. I, myself, am in the process of educating myself on how to work on heavy diesel trucks in preparation for my eventual transition to being a lease-purchase driver. If I can fix certain things myself, then hey, guess what? I'm that much further ahead of the game.

[@FernandoFlores-vr7ze]

Good afternoon Brian... thank you for your time to make some of us to understand the things better, if you want to do some for good , do it the rigth way , that will never be the easy one , but if you chose the fast way , there will be very few conditions to finally arrive , and a lot of anothers to get down beside the road… Is it worth enough …? That´s why or how some people are , and some others are not… Have a good new Week start my friend…

[@Lone_Wolf_91]

OMG this dude is awesome! Yep Im getting new truck 1000%. Cut possible problems as much as I can, I hope xD

[@stilliraise9201]

Yeah that was a great tip not buying a 2007-2015 truck.

[@DrtyDiesel]

LMAO, Brian is awesome. I have 9 years trucking, 7 years of that hauling fuel. I just leased onto the company I was a driver for. I couldn't agree more about money in the bank. Before I even ran a paid mile, I've spent over $4,000 USD.

[@stilliraise9201]

Who do you work for now? I wanna become tanker driver.

[@DrtyDiesel]

@@stilliraise9201 I'm leased onto Colonial Fuel and Lubricant, they're based out of Savannah, GA.

[@christianercegovich9142]

I’m gonna drive for 2-3 years and I got about 20k now but also gonna save 20-30 per year as a driver. I could go into business with 60-100k depending on what life throws at me between now and then. Hopefully I’m setting up for success. Also working my credit score up from 650

[@chrismcallister7050]

Get 5 credit cards from 5 different banks like Capital One, Bank of America, etc., a couple installment loans from your local bank or credit union (credit union would probably be better because you'd probably get a better APR there than going to a bank), and you'll be up in the 750's, maybe even close to 800's in no time. I worked with a local credit repair agency that told me to do the same exact thing. I just didn't go as far as getting installment loans because at the time, credit cards were all I could afford at the time. But over about 3 year time period, my scores have gone from about a 570-580 to a 715-720. I could've gotten my score higher in a faster period had I gotten installment loans. And now all of my cards have at least a $1500 credit with my biggest one being $3600. It's a huge accomplishment for me since all of my adulthood it's never been higher than 620-630, and never even had a credit card higher than $500.

[@therealmvpee]

How you doing now ?

[@therealmvpee]

@@chrismcallister7050man my credit literally was around 720 this year now it’s at 411 in just 3 months because my car got repossessed and credit cards got fucked paying for school

[@1iota1420]

Best intro vid out there on "know before you go", thks

[@jayfab4907]

Real pre emission trucks stopped in early 2000's. Cat put CCV's in their motors in 04, Cummins put in egr after the n14 (03-04?) I believe Detriot was the first to use egr around 2000?. Trucks from 03-07 are still better than the new ones but are not 100% pre emissions.

[@PCProphecy]

Thank you, great video!

[@BM-if9zn]

Excellent video, a nice punch of reality check👍

[@BTUTrucks]

Exactly right. Learn as much as you can on someone else’s dime! At least 2 industry segments, one should be flatbed where there is someone to teach you securement and load placement (for everyone’s sake don’t try to learn this on your own, this is NOT where trial and error goes well for anyone…)

[@joeblowe5813]

People can drive a truck in whatever facet of the business that they want (reefer, tank, flatbed, hazmat, etc.), and that's their choice and I don't impugn anyone that choice. But I can tell you without equivocation that, for me, at least, there is NO amount of money, NO benefit, NOTHING WHATSOEVER that ANY company can offer me that will EVER convince me to pull flatbed or hazmat freight. To me, it's just not wort it, no matter what the incentive. I'll put it this way: if it's a choice between pulling hazmat or flatbed freight, or staying home and off the road, I WILL stay home and off the road!!!!

[@zimberticagames5291]

I am a company driver and I used to work for a big company and my trainer told me that if I wanted to become an O/O not to be one of the fools that does it right after coming off their trainers truck. Be a company driver for at least 5 years and keep a notebook of expenses; fuel, tires, oil changes, breakdowns, tows, filters, belts, wipers, lights, etc. Every thing that happens while you're out on the road even though the company is paying for it all; it will be of great help to know what kind of expenses you'll have. Though be aware that's not even getting into expenses that you won't see, like apportioned registration, IFTA, permits and licenses, insurance, etc.

[@dillonh321]

Sounds like they just want you to be a company driver longer so they don’t have to replace you as early.

[@speedsbrother5556]

Who has the answers as to fair market price? Are businesses that do all the paper work for you to start your business a good way to go with?

[@andrewbarnett4621]

Brian your funny 🤣🤣 thanks for the tips and great video.👏🏼👏🏼👏🏼

[@pichi-one-4-all767]

I appreciate your work guys. Thanks for the info I recently graduated and I appreciate you cheering your experience.

[@abderrahmaneamzgane8740]

Thanks for these precious advices!!

[@NorthAmerican-Trucking-News]

You are so welcome!

[@dextermorgan5893]

Great video Brian,very informative and excellent checklist👍 Really opened my eyes to the hidden costs in starting up as an owner driver! Thanks mate,stay safe,strong and well 👍😎🇦🇺

[@gmanyem1057]

Well said and it is good to know before I buy a Truck . Thanks

[@brooktransport7413]

5 years to be owner operator no no 6 months you are professional driver!!

[@thomaskirkpatrick4031]

And ready to train other drivers.

[@budalanemac3115]

Yeah,and after 10 light posts koncked down, few bridges in between and an accident. :)

[@酱哥的JohnTheSauceBro]

My cousin only 3 months. Do Owner operator 😀

[@joeblowe5813]

No, not in 6 months. A year, I would say, qualifies you to call yourself that, but 6 months? You're still just a snot-nosed, green-behind-the-ears, training wheels rookie.

[@JuanGelogo]

Most folks don't have the aptitude to drive professional even with ten years of driving. Most of the trucks on the road prove that everyday on the road.

[@waldeckdolce7379]

Thank you for sharing this! I automatically subscribe and like.

[@ДмитрийМочалов-ф2п]

Thank you!!!

[@NorthAmerican-Trucking-News]

You're most welcome!

[@thegods2622]

I bought my truck with cash with 30k in my emergency fund and probably 5k in my checking. Then I made a bussiness accounts and built up a emergency savings separated from my personal home emergency fund.

[@iamOAKland]

Yes!

[@glorymakerloyalty89]

Thanks dude very useful

[@belle6071]

Have had my 2022 Freightliner Cascadia with APU and all legal requirements and luxuries about a month now. I run Reefer in the north east including New Brunswick. I'm financed for 3 years. I run Prime Freight, not AMAZON, Prime Inc. I leased my last truck from them and rolled my bonus into my own truck. Prime is so GOOD to me! My truck grosses steadily 4500 to 6000 a week. I keep my MPGs between 8.5 and 9.5. You guys can blow by me ALL day long, but I'm gonna beat you to the BANK. 😆. LOL. MUCH LOVE. BE SAFE. AND can we maybe get some snow cleared at night in NB on the TC-2? One run this winter I passed 3 roll overs in 85 miles, not funny. PS, it's awesome to connect with like minded folks!

[@stilliraise9201]

How much did it cost at the dealership?

[@belle6071]

@@stilliraise9201 152K US plus 21K upgrades, suspension, brakes, insulation, APU, keyless entry, cab curtains, custom graphics, etc.

[@stilliraise9201]

Why suspensions?

[@iamOAKland]

@@stilliraise9201 smoother ride bro

[@rahmanrucker6232]

How much do you net after everything is paid including taxes?

[@claudiahoffman2654]

Thanks very much for all this information!! It’s hold to me! 👏🏻👏🏻

[@Gul_Jee]

Amazing content thank you

[@RandyRey]

Super Informative. Thank you

[@anasschafik1187]

Thank you for your video

[@megataurus7779]

Thanks Brian,...for crushing all my dreams!🥴

[@knmakin1199]

I’m going in with 10,000 and 3 year by the summer

[@darfvader1243]

You guys make some pretty awesome vids..ive been around driving 20+ years and im STILL learning stuff!! Love the straight talk from the O/O's definitely opened my eyes..keep it up guys!!!

[@karenledesma7964]

Really good info....thanks....you really kept it real

[@briananderson8389]

Spot on again mate, well done you.

[@cameraduong9886]

Absolutely Informative ,good luck and be safe out there sir

[@estebanberroa]

Thanks for sharing!!! 🙏🏾

[@frankrodriguezit]

Great information, thank u so much for posting 🙌🏽

[@apenwangshu8476]

Oh Man thank you so much for this video it was really really helpful,,, thank you 👍

[@erica3943]

This is gold ✨ thank you so much for making this video. Much love.

[@noname_ZX6R]

i love this guy😂 thank you for entertainment while also giving awesome information 👍

[@Harisbaloch1]

Hey Mr. Brain , you are doing great job.

[@OTRFTransport]

Too many people do not understand that when they become an owner operator, they are starting a business and need to treat it accordingly

[@joeblowe5813]

Very true.

[@helaltariq3958]

Great video

[@BDKabrini]

Man. I learned this the Hard way....but, I'm GLAD I wasn't off on the Numbers. 1st Year I BURNED thru the 18k I saved. Smh. I THOUGHT I was in good shape until a few tires blew out and the egr warning lights came on. OMG!! TOWING still haunts me today. Smh. Im ok NOW but....I tell the Noobs the Same thing. 5yrs/ 20K and DO NOT EVER ignore the warning Lights!!

[@ThiagoIIxD]

Ok noob

[@Xxhermitxxrs]

Can you give more info about what you mean by warning lights?

[@Truckingadvocate]

@@Xxhermitxxrs the check engine lights, aftertreatment lights aka warning lights.

[@geoestrada5001]

Saving money it’s the most important thing you need to do, don’t start buying anything else like a new house or new fancy car’s, just waited for the right time,

[@mrgoogle1288]

ET Transport, very informational as always 😉👌

[@d.b.walkerfleetlogisticsll210]

Thanks bro great info

[@markdrollins6945]

Very good information. 💯

[@Daughteroflove20]

Who's the best company to go to after CDL school? I'm not worried about being otr. My concern is finding a company that has paid training for new comers , and a great sign on bounces that actually keep their word

[@jammerr4129]

Roehl...Schneider..Henniff...And Crete Carriers...Start there and work around...depending on the division you want to start in...((Tankers and Intermodal)) being the niches...Hope that helps...

[@luisrivera5636]

Love the content!

[@keithlazenby1524]

I have been an owner operator for 39 yrs--there has never been a worse time to get in--

[@francoisbrouillard1874]

What would be Ronan’s toughts about this one: One of your driver cie/ or / owner gets mistreated by one of your customers? Strong proof by driver.. I’d like to hear your. Thanks!

[@marcgannello2923]

My family got out of the business in the mid 90s. After 30 years. Cabover marks .where did u go mh mack?

[@lethaleternal7038]

Good thing I am planning to save up 200k for when I become an owner operator. So I am going to go on the more expensive side say I wan to buy the truck outright let’s say 60-80k then spend 15k for one of those things for when the truck is off. And I might just stick to a regular fry van tempted to go into transporting foods for stores in the future so let’s say I am planning to invest and additional 20k so bare minimum I am going to have to spend, about 95 - 115k in start up costs because I don’t want to deal with payments.(learned the hard way on less expensive stuff don’t need to go down that rabbit hole again) then that is just for the truck, so I am going to assume I will need another 50k saved up for insurance provider which will leave me with about another 35k of just in case something breaks down money. Then I plan to drive as much as humanely possible within the first year hopefully make about -60% ROI including having to pay taxes and insurance then as time goes on and get a better feel I can make much more about making around 130k my second year. Eventually I want to start my own company as well so I will have to save up let’s go safe and say 500k - 1M dollars as a startup to build up my own fleet using that money to buy 2 - 3 trucks and having one small terminal if I have the luxury of affording it.(no clue how much that will cost yet) then slowly grow based on what what I have available, how much money I have saved up, and figuring out ways to make sure it is recession proof. The goal is to make it so all I have to do in my 50s-60s is that it is completely self sustaining and grows at a steady rate. I can probably go a lot faster if I accept loans from banks but I’d rather not owe any money if I can help it. So once I pass my CDL-A test in October and get a job my plans should be complete in about 30-40 years since I am playing it as safe as possible. These are all rough estimates if anyone has any ideas on how to speed this up or some more realistic numbers to look at pls respond to this comment.

[@unclemonkey4699]

How about a video on a guy looking for a second career? Need a fast track because I don't have five years to give a company. I got the cash to buy a new truck and ten years until I consider retirement.

[@MW-nOttawa]

invest in a younger guy who can continue running the truck(s) after you're done in 8 years.

[@jaffarsardar3371]

Great

[@ExploreAmerica87]

Very helpful

[@im_jjp]

What if I bought a truck but sent it to a company for their drivers to drive. Is there companies out there like that? I want to keep driving company while I buy trucks to have others drive.

[@travislockhart3251]

I'm sure there will be people say otherwise about becoming a owner operator. But I agree on starting with company, and honestly doing lease is not making it any better. Because you are more hurting yourself than anything. When I get started as a rookie I'm going straight company driving company truck. I don't care honestly because I'm not putting my own money towards parts, fuel and so forth.

[@dchawk81]

I'm leased on but not in the overpriced lease to own the truck for not enough money per mile sense. It works for me because it's basically just a service contract under their authority to not have some of the bigger costs, steady(ish) freight, and power only. I agree with the recommendation to run for a company doing what you plan to do though. While not essential, it does eliminate or at least greatly reduce the learning curve.

[@williamwilliams4559]

thanks for the info.. sure alot for insurance

[@bradwilliams4921]

Guess I need to play the lottery. I am considering getting into the business and can’t see purchasing a used truck. Too many unknowns and potential problems. Not to mention I am currently unemployed and pretty much broke. Thanks for the videos.

[@ogmurk8129]

Thank the information! I want to drive local to get my experience, but I do worry that I won't learn as much as being OTR. Am I just overthinking things?

[@Brararaf101]

People like you always talk me out of it yet you owner op for many years.

[@adventuresofperseus945]

I forgot to mention what about renting or leasing a truck with full service lease or rent would I get myself into some shit with that? This also might be a dumb question. But what if we have our own truck but work with a company, do we.need to have our own authority?

[@voodoochild2319]

Good video

[@PrZ_CPA]

I work with Owner Operators with their bookkeeping and taxes. Let's get those in order before you buy another truck

[@NorthAmerican-Trucking-News]

You know what? Good point!

[@Chris.christiansen.84]

The 1st thing you should do is get an insurance quote.

[@TruckDriver326]

good information

[@M21assult]

What the hell are those Tarp prices? I bought two lumber tarps that are 27‘ x 8‘ and I bought two steel tarps that are custom tarps that are 27‘ x 4‘ with a 6 foot flap and a 2 foot extension. 600 for lumber tarps and 1200 for the custom steel tarps. $4000 total for everything that I needed for flatbed

[@mikeleggiero2524]

Payed 16 grand for a Conestoga 30 year pulling open deck

[@169Aquarius]

Hey guys question been driving for 16 yrs now plenty of experience and manage to save $80k doing local.Now I want to take leap of faith how would I go about starting on pls give me info

[@derekpascal3749]

Before you risk independent driving, be sure you are well aware of shoddy equipment, shady service providers and clever brokerage scams.

[@MORES1971]

If you have an inverter in the truck go and buy a fridge 110v from Walmart or the home depo or the Menards or Lowes ! It will cost you about $ 200 max! and the original volvo fridge 12v is not worth it ! 😎

[@truckingswe]

Does you take overseas drivers on TE Transport? Has 25years experience mostly from forest trucks.

[@Gereyee]

THANK YOU YOUR AN AWESOME 👌

[@otfmanmanjaymilly7243]

A lot of people on KZbin give very negative feedback cause of they experience everyone experience is different no one can tell you have to run your own business everyone has they own path in life things that work for me might not work for you these guys are negative

[@dchawk81]

Hindsight being what it is, I'd say they're being more cautionary than negative. I have ~$18,000 parked in my back yard essentially useless after 2 months.

[@otfmanmanjaymilly7243]

Maybe so but saying u have to work for another person for 5 years in order to be successful is not true

[@otfmanmanjaymilly7243]

Maybe so but saying you have to work for another person for 5 years in order to be successful is not true its 2021 not 1980 way more resources now than back 25 years ago older people are just stuck in they ways and don't adjust as time progress

[@dchawk81]

@@otfmanmanjaymilly7243 I'll give you that. Some of the old ways aren't even relevant anymore. I did what I'm doing now as a company driver for 3 and a half years though and it helped immensely. It eliminated the learning curve. Many of the customers are still the same. So they know me.

[@otfmanmanjaymilly7243]

@@dchawk81 i believe u can learn on your own dollar or someone else dollar either way least your learning my point is you don't absolutely have to work for someone else first in order to be successful in this business just like you don't even have to drive a truck to be successful in this business many ways to skin a cat

[@ismaelcordova6462]

I got a DWI, got my CDL suspended for 1 year, and next month im supposed to get it reinstated. Will an insurance company get me if i buy my own truck and have my own authority?

[@vendetta1306]

Much obliged friend

[@BabaYana-q1l]

I work with bicycles. Would anyone like to know the level of stress these things cause. As soon as one thing is fixed, another breaks down, and my mechanic is raising money for his wedding, so he's praying that something breaks down. It's absolutely ridiculous, so imagine if you work with these monster machines. I would like to work in trucking, but I'm a little scared because of the little I've experienced

[@andrewg5777]

Buying TV is kinda old school when we have all these iPads 😉

[@Loyalteelogistics]

Hey I just subscribed to your channel but I just curious way did you get a 2014 truck when you just said you would never buy a truck i believe you said between the years of 2007 - 2015 they were the experimental years of emissions?? 🤔

[@patrickhenry8637]

Would you apply the same thresholds to someone that is currently a local or vocational owner operator that wishes to transition or expand into OTR work?

[@lwatson153]

I would like to learn to be a o/o as a local

[@MrPoncho1965]

Why don’t they make cabovers anymore?

[@Mike_The_Hog_A_Nator]

I drove new & used trucks for years before I had a Stroke that put me out of the game. Had more issues with the used trucks. I drove my Buddies Truck after my 10 month CDL College Credited Course & driving for Crete over 3yrs. He was an O. Op. for many years & had a great broker. That's a very important thing to have. He always told me if I decided to go O. Op. to have $30k in a separate savings account for the truck maintenance only & never touch it. Not for down payment, not for whatever besides fixing your truck & getting back out on the road fast as possible. He had a fairly new 379 that I drove from S Texas to the NW. He always put 10% of every load in that savings. I never had issues with the 2002 379 besides basic maintenance. He wasn't rich but he lived & was able to put his girl through college. I got paid well. Over $1800 a week back in the early 2000s. Looking now I'm seeing loads from Houston to MA that are paying $3500 w/o a return load! 2022 & 2023 with fuel rates & low load rates? I wouldn't touch driving unless I'm a Company Driver. Like Crete or a few others. 🤟

[@amedperedo7775]

How mqny drivers ET transport has Like owner operator and how many like company driver?

[@ryanstaysloaded]

The way he says “decals” 😂

[@joeblowe5813]

Yeah totally mispronounced it. It's "dee-cals", not "deck-cals".

[@Lone_Wolf_91]

I bought big fridge for its like up to my chest for only 300$ ca with taxes in Costco, just saying.