So you want to "own " your own company

Thank you for the input SouthernPride! My wife and I are excited, we sit for hours on end searching and searching for information. Alot of which has been modified to meet the goals of some of the recruiters.

I see you said purchase your own trailer and that you dont lease. I thought leasing unto a company was the only way to do it...? I am confused, Could you please go a little deeper with that?

P.S - My wife loves the color of your truck!!!

 

There are several software packages available. I use Peachtree, and Drivers Daily Logs. Together I can track everything but there are probably easier packages to learn. Peachtree can be difficult.

Maybe take a look at Protools. Keep everything as your accountant how they want you to file and log documentation, like reciepts, repair bills, statements to customers, etc...

Good luck.

 

i use the brokers confirmation sheet, acct. program to track expenses, ifta plus to manage my fuel tax.

 

If I were you I would get your CDL and drive for someone first. I'd pick whateve type of carrier you think pulls the trailers you would eventually like to pull. When I ran flatbed I got to see a little more of what an owner operator deals with hauling stuff for 3pl/brokers, small customers, problems with loads, not being able to locate the customer, permits, licensing, etc. I worked for Anderson Trucking Service. Its great training to do it on your own. I've never bought my own truck though. They used to have company drivers, but their owner operator program is basically a glorified company driver. You'll make money there for sure. There are so many carriers that offer similar lease programs where you can back out anytime. I think its less pressure to just have to worry about getting there on time and getting some sleep. Company driver is really the way to go to start.

 

We have discussed that and I do plan on testing the water before jumping in! Thanks!

 

I must have missed this post southern..... great information! I assumed you liked the control aspect of it? I would also like that. See, I am lack on business sense, but got a work ethic from the military that wont quit. However, my wife is a GENIUS! She started a business when she was 18, masonry, sold it when she was 22 and is actually excited about what we may be able to accomplish as OO's. She said if I got an automatic trans....she may wasnt to hop on the wagon and do some driving. We have no children so it would be fun.

I was wondering, when you were at landstar, did they pay insurance while loaded/unloaded?

Thank you Sir.

 

now my friend first i must confess that is not my truck, i got that picture off a webb site called stacks and cracks . com all my trucks are balck trimmed in red and gold and they are all 379 petes with cat engines.

now as far as trucking goes, leasing is a lot like haveing a job and working for a company sure they do a lot for you but all of it cost you.
forexample there are companys that will lease your truck and you don't have any out of pocket expense art all , they buy your tag, your permits and any equipment you might need but it is not free they take it all back out of each settelment all they do they charge you for it , there not doing you a favor it cost you bigf time .

there are so many ways to truck it's hard to believe but you don't have to lease to anyone you can be independent, it works like this ./

if you just have a tractor you have little choice you have to lease and use there trailer at the tune of abut 300.00 a week it's not cheap, how ever if you spend a few bucks and get your own trailer, then a little more and get your own authority you can haul anything you want and do it legally you no longer have to lease you are now an idependent you charge your own rates and haul what ou want to haule and go where you want to go, more money and more freedom to do as you please you are the company and you are your own boss.

now it's true there is more peperwork envolved but it's not all that complicted and it's worth it for the independence.

now im not good at paper work and i don't like it so i have all my paper work and insurance everytrhing done so i don't have to be bothered with it , i have the OOIDA do everything for me im a life time member and they have never let me down, makes things so much easier.

hope this has helped if i can help you further just drop me a line or send me a private message. remember you only lose when you quit. besat of luck southernpride

 

I dont think that site is very appropriate to link to on here, southern. lol. Nice site though. I've always wondered why you dont post a picture of your real one. You said it was old and "all dolled up"....i wanna see...

 

Guys, I'm in the really early stages of learning what is needed to own a truck/trailer and getting business. Everything I read says have 6 months worth of cash to cover my business for the first 6 months. Question is approximately how much is that. I don't plan on operating my truck. I do have a driver.

 

Thanks! I read on Landstars web site O.O. page that they still use the online "find your own load" program. You mentioned you were familiar with that company and had good experiences. They did not disclose details and they asked alot of information be given in order to receive details. I was hoping you were able to recal things like costs/what they covered/ a little more how the program works? I appreciate it.

I know I ask alot of questions and please be aware I appreciate all responses. I just want this to be beneficial for my wife and I. Thanks!