Becoming an owner driver

picture_man36:
Find the work first. You need a customer(s) who pay you quickly (30 days from date of invoice max). Dependant on what your doing you could use £ 1300-1400 per week in fuel. You’ll need to be VAT reg’d from the off. Set your company up.You’ll need to apply for the O licence, will need a CPC holder for your transport manager and sufficient funds to convince the LA that you can operate the vehicle… check their website but its around £7.5k. I note you’re looking at buying. We went the other way and leased to start with. No sleepless nights. One fixed price per month and no maintenance/breakdown hassle. We needed to put down 3 months up front but when we got the 2nd & 3rd it was a lot easier as we were already established. Insurance was £ 3500 per year. Includes PLI, ELI, Goods In Transit (My customer wanted up to EURO 500’000) and motor vehicle.

If you are commited you will make it work. Yes, you can earn more money working for someone else, BUT you are building a business for yourself. I’ve read all the neg feedback on here… If you need any info, pm me

Cheers.

Hi
I’ve just read your post and found it very informative as I am looking at starting up myself, I’ve been driving for different people for around 30 yrs and never got into any pensions so now at 54 looking into getting into something that I can put money away for later on.
For the last year I’ve been driving a bulk scrap truck and been enjoying it, but I don’t want to go into scrap because of the punctures and damage you incur at certain breakers yards, I am looking into bulk work hauling sugar beet,aggregates and grain.
At the present time my credit score is pretty dismal so going down the lease route is going to be a problem I think,
What I’d like to know is what is the sequence of starting up.
Any useful information will be gratefully recieved.