STARTING YOUR OWN TRUCKING BUSINESS

[@genewalton4962]

Thanks for your knowledge bandit! Keep on cussing brother

[@OTRBandit]

Thank you very much

[@johnmills2690]

Love this fucking honesty my friend

[@OTRBandit]

Thank you buddy 🙏🏼

[@mikeh318]

Dropping ALOT of knowledge Bandit. Nice rainy night run.

[@OTRBandit]

Hoping to help somebody who needs this information out there, my friend. Wish I had somebody to give all this knowledge to me whenever I was first starting out.

[@09jjcasillas]

just subscribed. disability retirement here since 2007 (73yo now).flatbed doubles west coast/53' dry van east coast. miss it. my wife and Peterbilt are what gives me hard-ons nowadays! your videos and others like these scrathch that itch! on this video, didn't mention workmans comp? safe travels to ya.

[@OTRBandit]

Thank you very much buddy. I forgot to mention workman’s comp because I don’t have it but I definitely need to get it.

[@Shannon184]

Thank you for the ride Bandit. That was a lot of great advice. Have a good evening and stay safe

[@fred379-y8l]

Nice

[@OTRBandit]

Thank you Shannon, You have a good night as well.

[@dineblue4940]

Thanks for the Trip 😊 be safe all the time love watching

[@OTRBandit]

Thank you very much 🙏🏼

[@deradler3261]

Thank you for this information. Stay safe and keep making videos

[@GimpyExpress]

Thank you. You helped me get set up. Because of your help and referral, I have Mudflap and RTS. The only thing I have to do is get my truck registered and I’m headed out.

[@OTRBandit]

Saving money on that fuel is a key to success my friend. Glad I could help in anyway.

[@dont9098]

Gday Bandit Excellent advice mate it’s great that you share your knowledge and experience with everyone Take Care Mate

[@OTRBandit]

Appreciate it buddy. Stay safe out there. Watch out for them snakes.

[@zamp6969]

I love the videos and thanks for showing the reality of trucking! Keep them coming my friend!

[@OTRBandit]

Thank you very much. Will do.

[@lindapackard1695]

Bandit it's good you explain all about trucking and how to do it. The younger generation I think needs all the info they can get. Be safe, keep on trucking😊

[@OTRBandit]

Thank you very much Linda

[@spoolyz0296]

Saving this video for the future for when my time comes, Thanks bro

[@OTRBandit]

Thank you very much. You have any other suggestions when you start, please let me know.

[@paulbrown8370]

I have been incorporated for many years. My name is a Corp. and each business I had after that, was also a Inc. I did that a long time ago. I had an employer ID number as well. I even did business with the state and counties also. I paid all my own taxes and road use tax and fuel tax.

[@hankbaez2728]

Hell of a tutorial on owner/operator business.

[@RandeeDewitt-ml6lt]

Another great ride with the Bandit in the Blue Beast. Thanx Buddy !!! Just get r done !!!!!!

[@OTRBandit]

Thank you very much 🙏🏼

[@kenfox22]

The man , the myth the legend. Our bandit

[@OTRBandit]

🙏🏼

[@TRUCKINWITHHB]

Couldn't have said it better. I have watched you and trucking with Schmidt channel and you both inspired me to get my own truck. I'm on my 1st week as owner operator. Thanks for your great content and motivation!

[@OTRBandit]

Congratulations brother. Hopefully it serves you for a long time and hopefully you make millions with it. Get er done buddy. Stay safe out and congratulations once again.

[@calexander2023]

Very informative video I love it. I love watching your videos ❤❤

[@OTRBandit]

Thank you so much 🙏🏼

[@alanstant9356]

Very awesome as always buddy. Happy to be alongside for the ride along.

[@OTRBandit]

Thank you very much

[@sonnygreen9698]

Saved this one, appreciate the info buddy !!

[@OTRBandit]

Anytime brother. You need anything else, you got my number. I’m always happy to help another driver as much as I can.

[@sonnygreen9698]

@@OTRBandit I still haven’t made a decision quite yet on what I’m doing but I have decided to go with a suggestion you proposed in our conversation about types of trucks, when I get out of surgery next month I will have a decision, if the company I have been striving to get on with can’t work with me then I’m pulling the trigger on the O/O, I’m sure I’ll have a question or two 😂😂

[@OTRBandit]

@@sonnygreen9698Good luck with your surgery buddy. Hopefully it’s nothing serious. I’m always available if you have any questions brother. You got my number.

[@faulkner146]

Know your CPM. The more thorough you can break it down and calculate it with your runs the better. fixed expenses are easy. Use a life in miles/ cost tire wear, filters, ect. Make an excel spreadsheet sheet. Your business can have multiple accounts so have one for taxes, maintenance ect. And have some plan for high dollar problems. Business needs to be paid first. If you can’t manage money you’re going to have problems.

[@OTRBandit]

100% correct. All great points 👍🏻

[@RobertKlamkin]

Hey Buddy, Yes sir, thanx for your time and especially the knowledge of being your own boss ! Next to the wife, lol. But wow, that is alot of items to to understand, complete correctly, and be sure to have all the ducks in a row. Its crazy about the IFTA, you pay taxes at the pump, where ever you fuel up, and then you have to pay more taxes to IFTA, what the f***.!! Brother it seems like a person this day & age wanting to do this, have their own authority, really be serious that they want to do this. Thanx again for doing what you do, as a subscriber on your channel I appreciate you, you are the man, looking forward to the next video, stay safe out there Buddy, keep R between the mayo & mustard, Pprrrtttt...

[@OTRBandit]

Thank you very much buddy. It’s allot of work and responsibility but it’s totally worth.

[@Nightwalker-]

Great video! A lot of valuable information for any business owner, not just trucking. I also agree on having multiple bank accounts to protect yourself. Personally, I have 3 bank accounts. I have my primary account with a major bank, and then two secondary accounts with an "Internet bank". I use the secondary accounts for "petty cash" and "taxes". I only use the "petty" account when making day-to-day purchases, so they never have access to my primary funds.

[@OTRBandit]

I thought I share some information. Hopefully someone can use it in the future. Learn from this and learn from my mistakes so they don’t have to repeat them.

[@GJ_Brown]

Awesome advice! I always knew you were an amazing human being. Some might say (those who follow your channel every day) will say you cuss too much or maybe, you're too short-tempered. But I always knew you have a big caring heart who is 100 percent genuine! Who also has a sharp sense of humour 😁

[@OTRBandit]

Thank you very much 🙏🏼

[@wasfiradwan]

thank you for the advices

[@OTRBandit]

Anytime buddy

[@AntoinetteRollins]

When will you be coming to California ⁉️ love to see you strolling through

[@OTRBandit]

California doesn’t like me unfortunately. My truck can’t go to California because of diesel truck regulations.

[@RobertSchied-b6w]

Thanks for sharing the information it helped a lot thanks again, safe travels

[@OTRBandit]

Anytime 🙏🏼

[@CallsItLikeISeizeIts]

Anything sent to collections is a write off from originator, and you owe nothing to collections cause they can’t show your signature on any paperwork saying you owe collections squat. You owe originator, but if they willingly wrote it off, lucky day. If a entity willingly writes it off, meaning they wipe their hands clean instead of taking you to court themselves , you good. Things you learn in bankruptcy court 😂

[@OTRBandit]

Definitely good things to know

[@jerrycannon8938]

Thanks for all the information. I believe I'll stay retired😅😂 stay safe, my friend

[@OTRBandit]

Good choice. Wish I could do the same.

[@johnmills2690]

Explained very well my friend a honest guy doing KZbin and not selling secrets just been fucking honest.....not many people would do this about the job they do.so yet again Brother loving your content or and just cause you doing good on sports betting you are jot allowed to quit doing this its my FUCKING TV brother mh entertainment 👍 👏

[@OTRBandit]

Not quitting any time soon my friend. Thank you very much 🙏🏼

[@fulltruckereffect]

Good, honest advice.

[@OTRBandit]

🙏🏼

[@jeromejeffery3291]

Thanks for the information Buddy but living in California I think beginning to be a truckee owner operator would be out of my reach now that I am 75 and retired from my day job I still admire you doing the job with the beautiful Peterbuilt

[@OTRBandit]

Thank you very much.

[@KevinR-wt2do]

It was very interesting to hear how you got started, great summary of the key points, what to do, what are the traps, how to structure your company. I think the most impressive part of your company story, is that you have operated since 2008. To have been successful as as a small business for 16 years shows that you certainly have what it takes to run your company. I can’t imagine a much tougher operating environment than to run a small trucking company. Congratulations 🇦🇺

[@OTRBandit]

Thank you very much my friend 🙏🏼 it’s definitely tough but I wouldn’t have it any other way.

[@robertkelley6765]

I believe I will stay retired too.and wait on the mail man with my pennys.

[@OTRBandit]

Wish I could do the same.

[@tagovailoajuniorandmichell9151]

😂😂😂..you a gangsta trucker! Stay safe my brother! God bless.

[@OTRBandit]

Thank you very much buddy 🙏🏼

[@jasongarrow67]

Good info been thinking of making the leap into owner op

[@OTRBandit]

Definitely should. Now is the best time to buy a truck. There are some great deals out there.

[@calexander2023]

Thanks!

[@OTRBandit]

Much appreciated 🙏🏼 thank you so much.

[@mikah322]

Load up on the coffee my friend! Thanks for the insight

[@OTRBandit]

Much appreciated it brother 🙏🏼 thank you very much.

[@nistra5703]

thx for the video man. really helpfull

[@OTRBandit]

Anytime buddy 🙏🏼

[@robertkelley6765]

That's complicated I never thought it was so much trouble to be a owner operator.its not worth it. Very good information. Thanks

[@OTRBandit]

It can be complicated but to me, it’s definitely worth it.

[@producerk8247]

You're Awesome! Have a great day.

[@OTRBandit]

Thank you very much. You have a great day as well 🙏🏼

[@BigA1994]

Thank you for the information Buddy

[@OTRBandit]

Anytime

[@djtylerojala9910]

Thanks for the information man! I have commented on a few of your videos talking about how i would love to eventually get to where you are having a nice truck and my own business and stop working as a company driver. so i really appreciate the information. Stay safe out there brother

[@OTRBandit]

You can definitely do it buddy. If you need any help, I’m here to help.

[@djtylerojala9910]

@@OTRBandit thanks I really appreciate that. I'm sure I will have some questions about something lol

[@fred379-y8l]

Be your own Boss buddy🙏🙏

[@OTRBandit]

Most definitely 👍🏻

[@HirsiTV]

Very good information. But I would NOT recommend a UPS address. RMIS and Highway will flag that address. Plus, other trucking companies probably have an address at that location. Brokers will think you are double brokering. I have had at least 10 brokers not use us because of that

[@OTRBandit]

You are definitely right about UPS address. I’ve had few people who refuse to work with me because they say there is a broker at that address.

[@HirsiTV]

@@OTRBandit I am thinking about changing the address but it’s a pita because the ups address will show when they type the Mc number

[@OTRBandit]

@@HirsiTVI like UPS address because of privacy. I don’t wanna have my own personal address on FMCSA website.

[@gillisgil8972]

I have started n them i got discouraged thanks bandit

[@OTRBandit]

Why did you get discouraged? What happened?

[@RobertSchied-b6w]

Does the fuel card do factoring?

[@OTRBandit]

yes, they also have a factoring department and brokerage. It’s RTS (Ryan Transportation Services) out of Overland Park, KS I factor with TBS out of Oklahoma City because I’ve been with them since the beginning. You just have to make sure that they don’t have weekly or monthly minimum in how much you need to send in to get factored. Some of them want you to send them so many invoices monthly.

[@glennbryant1292]

I need this that and the other thing

[@chefboyrv57]

Hey bud, good info !!

[@OTRBandit]

Thank you very much. Thought I’d share it. Maybe help someone out there.

[@JohnDavidson-im3oz]

I live in Texas

[@TruckingWithKhaled]

I need more info on setting up ifta and filling that’s what’s been holding me back from opening my authority

[@OTRBandit]

You need to know how to do it or something else?

[@TruckingWithKhaled]

@@OTRBandit yea like how to start the process.. how to file quarterly.. where do I go to file and receive my new decals

[@OTRBandit]

@@TruckingWithKhaledSend me email with your number and I’ll call you when I have time. It would be easier for me to explain over the phone. [e-mail]

[@NovejSpeed3]

Sooo informative! So do you have a preference for major maintenance? Are there any service or extended plans you can buy? Do you keep a separate account for maintenance?

[@OTRBandit]

Thank you very much. I don’t have any service extended plans. I’ve never had one of those so I wouldn’t really know if they are good or bad. I’ve heard good and bad things about them. I have two local shops that I trust here where I live and I take my truck to them whenever I can’t fix something. I don’t keep separate account for maintenance. I just pay for everything out of my business account.

[@edi76edi31]

🤙🤙

[@chefboyrv57]

That's a lonely road buddy..

[@OTRBandit]

It sure was. I was on my way home few weeks back from Mount Sterling, IL

[@robertkelley6765]

Some people on here comments are not nice I can't understand why they wacth the video . Do you?

[@OTRBandit]

They definitely shouldn’t be here if they don’t like it.

[@rhett5914]

My cousin Vinny?

[@JohnDavidson-im3oz]

I have to pay 3 yrs for my truck befor I own it 74,100.00

[@OTRBandit]

That’s the way to do it 👍🏻

[@scottychenoweth5281]

Hey can you explain how Factoring works.. which one you use and if it’s worth it?

[@OTRBandit]

Whenever you do a load, it takes about 30 days for broker to pay you for some freaking reason. After you do a load, you send your BOL and rate confirmation to factoring company and they pay you in2 days so that you don’t have to wait for broker to pay you in 30+ days. Factoring company will get paid by broker and factoring company will charge you small percentage fee for them having to wait so that you don’t. I use TBS out of Oklahoma City

[@HaroutBalayan]

What factoring company do you use?

[@OTRBandit]

TBS out of Oklahoma City

[@hankbaez2728]

Wait what am I talking about...shows your age...😀

[@OTRBandit]

It definitely does.

[@GimpyExpress]

Attention all drivers, TQL sucks.

[@OTRBandit]

They definitely do.

[@danielross7032]

TQL=💩

[@OTRBandit]

Definitely

[@thatsme47]

I love that Indian impression 😂😂😂😜😂😜😂😜😂

[@OTRBandit]

🤣🤣 I picked up that accent pretty good. Because they keep calling like 30 times a day.

[@thatsme47]

@@OTRBandit that’s a very good thing that you’re smart and wise man and you don’t fall for their curry bullshit.

[@thomasmiller-h3y]

theres so much over head in trucking u cann,t ever afford a lot lizard

[@bourbontrail565]

Over Head , Lot Lizard… lmao

[@OTRBandit]

Only company drivers can afford those lol

[@timquinn9036]

CHICAGO LOW BRIDGE AREA HEADACHE GREAT ADVICE BANDIT. TO THE NEW DRIVERS ROLLON. OLBLUE

[@OTRBandit]

Chicago can definitely be tough. I hate going there.