There are three ‘popular’ reasons people become O/Ds, firstly to make a better wage, not a lot wrong with that…on the surface. The second reason is for the ‘freedom’ of being in control of your own destiny. Third is so that they can have their name on the door of a chrome and lights supermegatoptrotterxxl.
So, reason one, you’re going to struggle to make more than your current 30k wage, especially in the first three years, you think you’ve experienced every problem under the sun? Well just wait until you own your own lorry…
Reason two, you’re far more beholden to a customer than an employer, it’s very easy to jack a job, a bit harder to find a new job today, but it’s still a lot easier than trying to switch customers, the old customer will have driven you almost to bankruptcy, which is why you’re leaving in the first place, trying to find decent work when you’re going cap in hand because you’re almost skint is impossible.
Third reason, you need shooting…twice…at least
Now this is in’t always the case and there are many successful O/Ds and small hauliers, but many of them had a lot of touch and go times on the way up the ladder, you say you have many contacts, then ask whether to get a trailer or do traction only, your wife is the accountant at the company that, I presume, allowed you to make these contacts, surely she’s the best equipped to answer this question
Now let’s do some simple maths, you’re going to need 50 grand to start up, now that can be hard cash or financed, let’s assume that 50k gets you a lorry, trailer, funds for O licence, first six week’s running costs and a little margin for error, you’re going to run 100000 miles a year at 1 pound a mile with a 10% profit margin, it will take you five years before you reach the break even point and get your initial 50 grand back, you may earn more than a pound a mile, but you’ll be very lucky to do a 100000miles, so that almost balances out, I said it was simple maths, not an exact science, but it shows my point clearly enough.
However, if you can get some decent work, I say go for it, every oak tree started out as an acorn