Is being O/O or company more profitable in 2024?

If you don't have any money to start with you're digging yourself a hole that you will have to climb out of, your 1st maintenance issue could put you right out of business and in further debt.
Insurance, UCR, 2290, got to pay for all that before the truck even moves. Listen to those who have already told you about the current climate.

 

You seem to have your answers. Go for it. Let us know how it turns out.

 

Your chances of succeeding are very low with just one truck.

You really need 3 trucks at least to be in the game.

And otr for money is very bad.

 

Anything business that has more overhead put of pocket expenses would be difficult to earn someone more money as a whole for the majority of people. Yes, a small percentage might be lucky enough to once they have decades of experience but it's difficult to tell with most independence regarding the genuine number they generate. This current market is destroying many O/o's including large carriers that's been around for 50 years. Every penny matters so misuse of spending funds can sink any experienced O/o. Margins are everything in Trucking so as a driver who simply works on a daily routine with a steady route and annual pay raises consistently usually wins overall similar to the story regarding the 'The Tortoise And The Hare'.

 

Trucking is like other businesses. You will need expertise, great equipment that will require capital to maintain, and you need your administrative tasks in order. You cannot serve a customer if something is l ok packing. Your customer can be a carrier if you lease on. I recommend about 50 k in the bank if you start with a new truck and about 80-100k if you have used. Otherwise you may be joining those that didn’t start out on the right foot and may eventually go out of business. @Siinman has his stuff in order. Read up on what he has done.

 

100% disagree. 3 or more trucks = 3 or more headaches.

One man, one truck, one job at a time. Phone doesn't ring when I'm off. Works for me for 6 years now.

Yes rates are low right now but it won't always be the case.

OP, save your money and keep working for someone til things start to turn, then jump in.

 

How many years have you been driving truck?

 

One truck breaks down. Your entire business is down.

2 more trucks and the business still rolls. What are the odds of all 3 breaking down at the same time?

Phone ringing?

I know a few one truck operations struggling to keep up with repairs. There phones don't ring. They either make it to work or they make it to the shop.

3x more headaches or 3x more money?

I'd love to be making $180 per hour. X 3.

I'd also like to have a spare. For the one that breaks down. To keep the business rolling.

 

Keep asking questions till you can tell which answers are right and which answers are wrong. Right now you’re an easy target for Liars and Thieves. You can sign on the dotted line. Make sure you can afford to lose any money invested. There’s 0 dn. walk away open end Lease Purchase Plans I’m sure. The deductions will eat away most of earnings. It rarely ends well. I was recently offered a similar deal. I could have gotten $10k deposited into my checking account. All I had to do was send $1k certified funds, along with my account information. Guess I missed out.