My Step by Step Plan for Independance...

Discussion in 'Ask An Owner Operator' started by swerve, Nov 28, 2007.

  1. swerve

    swerve Bobtail Member

    7
    1
    Nov 26, 2007
    Marietta, GA
    0
    Over the last couple of years -- I have been approached by other drivers that have wanted advice on how to do what I do...

    I'm not here to argue the merits of running independant -- simply to share the checklist I've created in the order that I did it...

    The complete timeframe (for me) took about 2 months and I didn't need to hire any expensive outside services to complete these FOR me...

    Each individual step is NOT that DIFFICULT...

    Feel free to ask me any specific questions -- and I'll be happy to respond the best I can...

    Here they are:

    1 -- Determine what kind of trailer you want to pull...

    2 -- Determine what LANE/lanes you want to run...

    3 -- Complete a comprehensive business plan using conservative numbers (based on the lane you chose) and MAKE SURE that you can accomplish what you need financially...

    4 -- Contact insurance agents that specialize in trucking insurance -- make SURE that you CAN BE UNDERWRITTEN AND what the COST is -- it varies dramatically between companies based on experience, incidents, etc...

    5 -- Form a corporation -- my situation showed that an S CORP was the way to go -- for you it could be either that or an LLC...

    6 -- Obtain an IRS tax ID number for the Corp...

    7 -- Complete the MC-150 to obtain your MC number And the form (forgot the number) for your DOT number...

    8 -- Set yourself up with a "Processing Agent" -- generally a one time fee that lasts forever for about $25...

    9 -- FIND the truck you want to buy and put money down or whatever to have it held for a few days -- also FIND the trailer you want and have that held for a few day...

    10 -- Call the Insurance you chose and INSURE the truck starting on the day of delivery...

    11 -- Have the truck lettering people letter the truck prior to delivery (its just easier that way)...

    12 -- Get your IFTA sticker...

    13 -- File your IRS 2290 at the local IRS office (HVUT)...

    14 -- File your UCR...

    15 -- Pick up the paperwork for the truck and get your base plate -- also get the plate for the trailer...

    16 -- show up at the dealer with all of this and I believe you'll be ready to go -- pick up your trailer and...

    Then the REAL work begins...

    I will just add a couple notes to this...

    I had actual shippers ALREADY lined up prior to me going back over the road -- this is a fairly big deal as brokers tend to want to keep a profit percentage for themselves...

    I'm not saying that it isn't possible to make it by contracting loads via the "load boards" -- just saying its EASIER if you've got SOME shippers already lined up...

    Hope this information helps someone!!!
     
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