Becoming an owner driver

Hi guys I’m a driver from South Wales.

I may have a chance to buy a Hanson spec Lorry in the new year and go owner driver which iv always thought about Do you have any Info on this such as contracts, what kind of money I need upfront for costs ect as google is just jibberish.

Thank you

Hope you can help .

Hi Nicky, search this forum, and you should get all the answers you need. You might want to delete this post too, before the inevitable barrage of abuse, for not searching, begins.

this is a bit blatant if its dozy starting over??.. :confused:

however…if its gen…search on here.and if you dont know…dont do it…

You,ll make £10,000 a week don’t hang about lad, go for it stop thinking it over bite the bullet.

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.

did someone say the hansons and specs??

slap-shot-hansons-premiere_scruberthumbnail_1.jpg

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.

Who are you insured with?

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Indeed who is your insurance with?

£3500 is a great price for a new startup

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.

Chezman:

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.

At 54yrs mate you’ve left it way WAY too late to build up any kind of decent pension pot,
Unless you intend to work FT til near 75yrs!!!

You at least contributed your PAYE “stamp” into a State pension!!!

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Quite big truck. Pictureman says you can earn more money on PAYE, yet chezman thinks that buying a truck will be the way forward for a good pension.

I disagree with the if you are committed you will make money. The road to haulage business failure is littered with committed people.

By all means give it a go, but unless you really know what you are doing, and the fact that you are asking for a sequence as if it worked like that anyway, tells me you are a long way off knowing. No offence meant, it’s hard work to earn good money in this game.

albion:
Quite big truck. Pictureman says you can earn more money on PAYE, yet chezman thinks that buying a truck will be the way forward for a good pension.

I disagree with the if you are committed you will make money. The road to haulage business failure is littered with committed people.

By all means give it a go, but unless you really know what you are doing, and the fact that you are asking for a sequence as if it worked like that anyway, tells me you are a long way off knowing. No offence meant, it’s hard work to earn good money in this game.

Forgive the pun but
On the money Albion. :wink:

Chezman:
[… 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…

I wish you the best for your endeavour but, as has already been stated, you may well have left it far to late to start building up a decent private pension. At 54 I cant begin to imagine how much you would need to invest annually to give a “reasonable” private pension! Assuming you want to retire at 65 (nominally) and you would like a pension of £15-20k PA then the contributions would be massive! And those contributions would be coming out of your earnings which as a start up O/D would more than likely just not be there!
To run your business, service any debts, earn a living wage AND make huge pension contributions may well be unachievable! I may be wrong but what you are looking at is huge! Good luck anyway though. :wink:

Very, very broadly, to get 12 k a year (presumes8k of state pension) and retiring at 67, I’d say at least £1500 a month. That would get you a pot in an aggressively managed fund of £250k. Not sure on second thoughts that is enough and I’d be wary of aggressive management at 54, most people ease up a bit as there is less time if things go Pete Tong.

If you are worrying about pensions, try the pensions board on Money Saving Expert forum. Some very knowledgeable and helpful people there.

A good search would be Hino. There was a young lad with a barrow load of big sticks who had Hanson or one of the major aggregate suppliers sussed, be quick with your search though, think the truck was parked up within a month

Wheel Nut 3:
A good search would be Hino. There was a young lad with a barrow load of big sticks who had Hanson or one of the major aggregate suppliers sussed, be quick with your search though, think the truck was parked up within a month

That was a wee while ago!!![emoji4]

Somebody got a cheap tarmac spec 8wheeler outta that young
“Head the ball” once he found out his “friendly” Hanson TM had fed him a pile of balls!!![emoji52][emoji50]

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Yeah i remember that thread, poor sod was so over the moon happy to be going OD with his new motor, just as the recession kicked the door in.

You almost wonder if someone wasn’t pulling the strings all along to get a new 8 wheeler cheap as chips straight on the road.

Didn’t he have a mixer truck after?
I remember the thread well, been a few set up as o/d and soon pack up again over the years!

The way I look at it when you drive for a company your guaranteed the wages at the end of the week even if the truck blows up (god forbid). I love trucks and all but just can’t fathom why you would want to own your own truck and get shafted with the runs you can’t do legally just to basically break even, plus once something goes wrong there’s about 2 months profit gone instantly. Absolutely wouldn’t interest me when I’ve a decent enough job with alright money.

I won’t be having my employers heart attack I can assure you of that much, he might be having mine though at some stage…

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