OOIDA prepares drivers for trucking success

Drivers from all over the country – and from all experience levels – received three days of in-depth guidance during OOIDA’s annual Truck To Success.

The three-day course is designed for drivers looking to become a leased-on owner-operator or an owner-operator under their own authority. This year’s course was held Oct. 25-27 in Blue Springs, Mo. The course was available for both in-person and virtual attendance.

For those looking to take that leap, being prepared for what lies ahead is integral to being successful. According to data from the OOIDA Foundation, 25% of new businesses in the transportation and warehousing sector fail within the first year. Making it past the first year doesn’t guarantee success either, as 35% of those businesses will fail within two years. Finding long-term success is even trickier, with around 60% being forced out of business by year five.

“We had an individual today that mentioned that they feel like they’re building the airplane as they’re flying it. And that’s kind of how they describe their operation,” Andrew King, a researcher with the OOIDA Foundation told Land Line Now. “There’s so much more that people don’t realize they need to do in order to stay compliant and stay in business. You know, maybe it works for a little bit, but eventually those things catch up to you.”

King says these are the top three reasons business fail:

• Lack of sufficient capital.
• Inadequate management.
• Poor business planning.

Truck to Success aims to combat those failure rates by arming prospective owner-operators with the tools for success. Over the course of three days, participants received in-depth guidance from industry experts on developing a business plan, equipment purchasing and financing, permits and licensing, taxes and more. A question and answer period was available at the end of each session, ensuring those in attendance had a firm grasp and understanding of the information.

Lewie Pugh, executive vice president of OOIDA, says far too many are ill-prepared to handle running their own business.

“I’ve said lots of times, and I don’t mean it’s this disrespectfully, but it’s too easy to get in this business, and it sets people up for failure, unfortunately,” Pugh said. “That’s why there are so many statistics, and that’s part of the reason we started this, because it’s so hard to go out there and find information all in one place. This is kind of the A-through-Z steps on how to become a trucker and to do it and be successful in it.”

Melissa Borchardt, an OOIDA member from Birmingham, Ala., was among the in-person attendees for the three-day event. She said the course helped to cover the things drivers may overlook, but need to know to stay compliant and on the road.

“You get all your training. You get all your bookwork. You go to school and get your CDL. They teach you all this, but it’s around the truck,” she said. “What about back office? The back office opened up whole new doors for me when I thought I knew my taxes. … What if you get audited? This seminar has helped me to understand what they’re looking for, what the DOT is looking for, what the IRS is looking for, and what do I need.”

While being prepared for success is important, Pugh said some drivers may realize that taking the leap to becoming an owner-operator isn’t for them. Regardless of the outcome, he says participants of Truck To Success are better prepared to make that decision.

“If you take this course for three days and you decide, ‘hey, this isn’t for me, I don’t think I want to do this.” That’s a win. Because it’s a lot better to come here and spend the money for the course. … That’s a lot cheaper than what it’s going to be in the long run to go out here and buy a truck and fail,” Pugh said. “Or, if you decide to buy a truck, do it armed. Do it armed with the knowledge you need, because knowledge is power.” LL