Good Afternoon everyone,
For the passed couple of months I’ve been thinking about setting up my on LTD and become an owner driver. I’ve emailed Companies such as Maritime and Gold Star to becme a subby. Both pay similar rates per mile £1.50 ish.
I know there is much more to it, but i am not 100% aure about what I need and whats not really necessary. Could some please tell me what I need to start?
Wagon? Operator license? Insurance? What else?
I am based in Bradford/Leeds area. And will to work 7 days a week (my dad will work for me on weekends)
And yes I know is probably not the best thing to do, but I just want to take the risk and give it a go.
O licence (for which you or somebody else will need an operator’s cpc) a road legal lorry and somewhere to keep it. Enough money in the bank to meet the DVSA’s financial requirements and to keep operating until payments start to come in.
You’ll probably find most folk would say that Maritime and Goldstar aren’t worth subbing for.
It seems to be a general rule that those companies who advertise in for subby’s are not the ideal people to work for as if they were they wouldn’t need to advertise.
One reason a lot of people suggest a few years experience in the haulage industry is a good idea is that you build up a network of contacts and get known by people. So it might be better to talk to people you’ve worked for who don’t advertise about working as a subby.
Also do a search on here about setting up and being an owner driver, loads of threads, some from dreamers other from people who actually gave it a go.
Olaf Charles:
Both pay similar rates per mile £1.50 ish.
Out of which you take around 50p in fuel costs before you start and at best you’ll get around 400 miles done in a day.Also assuming you want a wage of not less than £80 out of the resulting £400.IE realistically the question you need to answer is can you buy and maintain a truck properly and cover all the other overheads on the remaining more or less £300 per day.
where to start ■■?..something in this kinda order “WORK”, customer/s, cpc, O licence and all its requirements, available dosh to get started, truck, insurance, accountant, …work, work and more work, determination to succeed, good slice of good luck, theres much more but that would get ye going…maybe!!!
The guys here have given you guidance on what you will need to do. The more you can do for yourself, the more money you will save. Decide whether you want to the plunge and buy or whether to lease. I’ve just leased a 3 year old truck, which is cheap and cheerful, covered by full R & M and is taxed. I have one fixed cost per month. My budget would have got me a £ 10-12K 12 plate truck which to be honest could cost me a pot of money to keep on the road, so I chose the safe option.
Its unlikely that you’ll get any assistance from a bank, so you may need to consider credit cards or a loan from friends. You will need up to 8 weeks worth of working capital; for fuel, for leasing and also something to pay yourself (You will need to work out how much you can get by on whilst the cash starts coming in) Most companies pay 30 days from end of month. Some will pay quicker but will expect a rebate.
You’ll have to pay up front for the O Licence as well as ad fees. You’ll most likely have to stump up 3 months lease should you go down this road and you’ll need something like £ 9 K for fuel, whilst your money starts to come in. Insurance, including PLI, Goods in Transit and Motor Vehicle can set you back £ 3k (More if you want to consider ADR)
Get yourself an account with a tyre company as well as a truck parts company and be prepared to
I spoke with the 2 companies you refer to and they offered me work from Leeds, Doncaster BUT could not give me £ 440.00 min I needed per day. Also not sure whether they charged for using their skelly.
I don’t know your background. I’ve been in the industry for 30 years, latterly working with a major truck leasing company and have done the full apprenticeship. (I did time at college as a HGV Fitter, worked as a traffic planner, transport manager and finally depot manager.) I decided to take the leap and have so far enjoyed myself and also the freedom of working for myself. Its hard work but I am starting to see the rewards.
I’d be happy to offer any help you might need if you PM me.
Quite frequently this forum sees a thread started with a plea from someone looking for loads in his area, or sometimes more desperately anywhere. When doing the sums and looking at rates offered it is absolutely vital to factor in contingency for work drying up, or the unavailability of the vehicle because of either breakdown, accident or extended repairs.
Perhaps a good thing to keep in the distant background of your mind: “It doesn’t matter what you want to do there is always someone or something trying to stop you”. Obviously don’t be governed by it or depressed by it, but do be aware.
