Rookie question?

What do I ask the insurance compaines when I start calling them.?
How do I shop for and get fuel discounts.?
Is installing a fax/scanner machine easy?
Realisticly I know my personal expenses, but what Approx value should I have in the bank to run the company for 60-90 days before revenue comes in?
How close to getting my numbers should I start looking at and learning contracts

What's the benefit to buying some one eles numbers?

Some time in the next 8-10 months I'm thinking of making the change from leased on -- to having my own numbers.

 

1. You need insurance to get your authority, so call when you are ready to go. Meaning have your truck and trailer.

2. I use NASTC ,but there are several others. I am actually considering switching to Axle.

3. It is really really hard to get direct customers with one truck, most start working off of the load board.

4. Insurance companies can tell an MC# was transferred, so in my opinion there is no benefit.

5. Lastly look at the rates BEFORE you decide to do this, right now rates are terrible and no one knows when they with become better.

 

Pay special attention to item #5 in the above post.....

-- Lual

 

While many drivers have lots of advice on this website, personally I would still get a qualified accountant to do a proper risk assessment for your potential trucking venture. In the long run it will be money well spent. The key to your business working is as you've asked in the 4th question how much money will I need in the bank to cover 3 months without a paycheck? What will be your main costs? #1 Fuel, insurance, and repairs, unless you buy a new vehicle and it's covered under warranty. Your looking at a fuel bill over 3 months assuming you drive 5 days per week and use around 220 gallons of fuel per day, that's 1100 gallons a week x the average price of diesel of $3.30 = $3630 per week x 12 = $43 560 for a 3 month period for your fuel bill alone. Keeping in mind this is just an estimate as fuel rates can increase/ decrease, you may drive less days, or use more or less fuel per day the numbers will vary from driver to driver and truck to truck.

 

Have you seen some of the stupid stuff some of these guys with their own authority have to go through?

 

After getting insurance quotes you may find leasing to a company isn’t so bad.

 

What kinda work you lookin at? OTR, regional, DV, Reefer, FB?

Insurance needs 750k/100k Cargo IIRC. Some brokers now want GL too.

NASTC/Mudflap, etc for fuel

Don't need scanner or fax with a smartphone

If not factoring, you're gonna need 50-60k to float yourself.

Haven't tried and don't want contract freight myself, so no idea.

Benefit to old MC is everyone will work with you if the #'s, audits, safety rating, inspections, are good

 

There is no benefit to buying an old USDOT number, because when the FMCSA transfers it, you will get issued a new USDOT number. Just pay the 300.00 and get your own number. BUT, I would recommend leasing to another carrier for a year before starting out with you own authority. Then you will know most of the costs and have a record of safety. Just my .02.

 

Pretty easy to do. What are you referring to that is hard?

 

Ive been with landstar for a little over two years.
I want to go full o/o