I’m new here and would like some info on being an owner driver.
I am looking at having a career change in a couple of years and always wanted to work for my self.
I have been thinking about being an owner driver and having a rigid flat bed and big hi-ab Crain so I can haul nearly anything from large plant vehicles and other big machinery.
Can anybody give me some information and insight on owning your own rigid or tractor unit and how to get work and run the lorry e.g insurance and general running costs. I already have a class 2 but thinking about doing my class 1 next year.
This is what forums are for. For newbies like me to ask questions to get an idea. To you it might be a simple to answer basic question, but I like to do my research and ask stupid questions before I take the plunge and go on my own.
Adsvx:
This is what forums are for. For newbies like me to ask questions to get an idea. To you it might be a simple to answer basic question, but I like to do my research and ask stupid questions before I take the plunge and go on my own.
before you do anything, take training to obtain the licences, straightforward and is expensive, once obtained I would gain experience in the field that you wish to work in, with a crane I would be looking at machinery removals or similar, then go from there, you have to walk before you can run.
Adsvx:
This is what forums are for. For newbies like me to ask questions to get an idea. To you it might be a simple to answer basic question, but I like to do my research and ask stupid questions before I take the plunge and go on my own.
before you do anything, take training to obtain the licences, straightforward and is expensive, once obtained I would gain experience in the field that you wish to work in, with a crane I would be looking at machinery removals or similar, then go from there, you have to walk before you can run.
Sensible advice I think.
p.s. good luck
Thanks for that. I already have my class 2 and will probably do my class 1 next year. I will carry on reading the forum and chat to some company’s
Brados is spot on with that advice, having an LGV is only the tip of the iceburg when it comes to hiab work, you really need to know your stuff to be successful if your moving machinery etc,whilst i applaud you for thinking outside the usual O/D box of a unit and sub contract traction I think you should spend time getting the experience and knowhow before committing your £70 to £170k on a big crane truck, if you can rest your hook on an egg without cracking it you will do ok!
Adsvx:
This is what forums are for. For newbies like me to ask questions to get an idea. To you it might be a simple to answer basic question, but I like to do my research and ask stupid questions before I take the plunge and go on my own.
To be fair while your comment is correct so are the replies you are getting too.
When it comes to asking questions regarding what you should charge your potential customers you should really be the only person who can answer that question. Pure business logic means you should know how much per day,km,tonne per hour you should be charging to recover your standing/running costs and make a profit.
But without a vehicle and costing in mind or an industry general pay average you are romancing an idea.
No-one with any sense is going to tell you how much they are charging. Think about it !!! I often get drivers asking me about rates as they think their gov’nor is making a fortune at their expense. I tell them sorry thats my business, ask your boss’s customers what they are being charged see if they will give you a stick to beat him with. Good luck if you do start on your own, you will need it without doubt. My advice would be find a decent job for wages if you can , it’s tough out there and getting worse. An example being look at the way the fuel price has rocketed in the last year. Regards Kevmac47.
Every so often I revisit the idea of running a truck, after 30 odd years in the industry and with the wife having 12 years between us we have a lot of contacts, each time we look at it (and we do look at it seriously) we have yet to find a way to get a decent return (yeild) on investment against the risks.
I personally would only , after all the discussions we have had on this, only ever go down the O/O route working direct for the originator of a load ( in fact only if working direct for more than one ) and would not entertain the subby route
I am also sure that others have a different view over the risk/reward return that we do , some on this very forum have decided to take that decision and are doing pretty well out of it.
What I am saying here, is that Owner operating isnt for everyone and the only person who can decide wether the risk is worth it is the one person that knows your own limitations, expectations and risk threshold.
Just to add to this thread, the op was looking to specialize which is good, except that lots of other people also specialize now, years ago it was an excellent way of getting a good return on any investment with specialist equipment.
I have to say given the diversity I have had within haulage that the most profitable period of my business was running Sprinter vans on sameday/nextday European work, I ran them alongside the trucks and the vans were far more profitable and even grossed more that the trucks, most of it was auto parts on a just in time run or aircraft parts to airports all over the EU, both of these are now pretty much gone as a good earner now but the work still exists and is covered by the likes of DHL/TNT etc, there are still specialist areas in which to invest and work but given the cost of the equipment which can run into a couple hundred thousand pounds easily, you would be better off investing that amount of money (if you have it) elsewhere.
Rikki-UK:
Every so often I revisit the idea of running a truck, after 30 odd years in the industry and with the wife having 12 years between us we have a lot of contacts, each time we look at it (and we do look at it seriously) we have yet to find a way to get a decent return (yeild) on investment against the risks.
I personally would only , after all the discussions we have had on this, only ever go down the O/O route working direct for the originator of a load ( in fact only if working direct for more than one ) and would not entertain the subby route
I am also sure that others have a different view over the risk/reward return that we do , some on this very forum have decided to take that decision and are doing pretty well out of it.
What I am saying here, is that Owner operating isnt for everyone and the only person who can decide wether the risk is worth it is the one person that knows your own limitations, expectations and risk threshold.
Why Rikki■■? Why would you not entertain the subby route■■? I know of an owner op that started the same week as I did 8 years ago. He has all but lost everything because of defaulting customers. I’m still here with paid for assets. His route was direct product haul, mine was the subby route.
Seems to me I did ok■■? Not having a pop, but, experience counts doesn’t it■■?
Well speaking for myself, I have been a driver all my life, & 1972 I decided to have a go on my own. Mind you you I had a good start I bought a Foden S 20 off my cousins, and the work came with it from Tilcon
Rikki-UK:
Why Rikki■■? Why would you not entertain the subby route■■? I know of an owner op that started the same week as I did 8 years ago. He has all but lost everything because of defaulting customers. I’m still here with paid for assets. His route was direct product haul, mine was the subby route.
Seems to me I did ok■■? Not having a pop, but, experience counts doesn’t it■■?
Yes, I’m putting a truck on the road and I am going to sub-contract. I know roughly what my top line, bottom line and margin will be. The company I am going to sub-contract to have paid their subbies on the agreed date every month, without fail, for over 40 years.
I would sooner do that than spend every spare minute chasing unpaid invoices for a few pounds more.
OOps what whent wrong there, Anyway I proceded to haul sand & gravel plus other jobs that came along, including lime spreading, & slag, a dirty poxy job , but it was extra dosh, so I just got stuck in there & made a few bob, I never made my fortune, but I did make a bloody good living out of it, but mind you it was very difficult sometimes, when I had to be in four places at the same time, but I survived & Im still here to-day, I did local work & long distance stuff I wherever I could make a bob or two, But its a differant ball game to-day, have a long hard think about it, & in my oppinion put tour dosh into a profitable investment, & steer well clear of the transport game It may look good now but think of your future my man very carefully, Retired Driver from the past, Regards Larry. PS/ Good luck in whatever you decide to do.
I’m new here and would like some info on being an owner driver.
I am looking at having a career change in a couple of years and always wanted to work for my self.
I have been thinking about being an owner driver and having a rigid flat bed and big hi-ab Crain so I can haul nearly anything from large plant vehicles and other big machinery.
Can anybody give me some information and insight on owning your own rigid or tractor unit and how to get work and run the lorry e.g insurance and general running costs. I already have a class 2 but thinking about doing my class 1 next year.
Thanks in advance
Adam
Congratulations for asking the question. You did the right thing. I have a simple and basic answer for you. Think of the outlay you may have to spend on your prospective truck, meeting the requirements of your ‘O’ licence, having enough funding to run between 2 - 3 months out of pocket. You are looking at some considerable investment of money, not to mention time and effort? Realistically, if you invested that money into a decent savings account, you would see a bigger and better return on your money. I know one or two owner drivers that do make a wage, albeit running as subbies.
The world is tough out there for small guys, many with good intentions fail. Unless you know of a few customers who are prepared to look after you. Don’t take the plunge.
Forum or not!