Considering your own authority?

I have both. I Know when the rates are good for refer and there locations then when it drops I turn to my dry box best of both worlds. I also have my own authority which makes it nice.

 

I did not expect to be that easy to book loads your self. For what I see, Dry Van and Flat Bed have plenty of loads, Reefer is good money for the Summer. The best is if you can afford to have the 3 type of trailers.

 

Tag and registration vary by state. Wisconsin is $2578 to get tags for a year.

 

That is a good point. Only when you have your own authority and say a sleeper with 53 ft dry van and average less than 2 $ per odometer mile you sell yourself short.

 

That seems correct but only for 80,000lbs INTRAstate or IRP with essentially only WI.
IRP with WI as the only jurisdiction is $2600.

I have 48 states on my cab card (I'm based in WI) and never even paid anywhere near close to this, even if I estimate miles year
after year (which causes the rate to be artificially higher)

Based on others around here...48 state IRP plates seem to run around $1600-2000/yr.

Not sure why you would be paying quite that high, but Im sure its possible...

 

You can get it trust ME

 

The reason I'm looking into running my own truck under my own othority is so I can go home when I want run my truck at the speed limit an not be leased to Any one company who like to dictate to you or am I dreaming will the ins company dictate what speed I can run

 

Hello. I am currently co-driving with a friend of mine who is a lease owner and his lease ends in April 2017 and he is quitting the industry. At that time, is when I will be deciding on the next step to take including possibly getting my own authority. When April comes I will have 3 years of driving experience along with an excellent business sense and am a wiz with money handling and numbers crunching, I guess you could call me a bean counter lol. In the 1 1/2 years in have been co-driving I have learned as much as I can watching him operate his lease business and I have an excellent understanding of his day to day operations good and bad. Since he is a lease a lot of the responsibilities are handled by his leasing company and I know that getting your own authority is a different ballgame because YOU have to set up all of the regulatory framework so if I decided to do it I would hire a company like NASTAC who sets up all of the paperwork for a fee. I would rather pay a professional then to do it myself and miss something and then get hammered by the feds. Also, I have $100,000 saved up so I would be able to buy a truck and have money set aside for operating capital. I found a company (Daylight Transport) that only takes O/O's with their own authority that requires a team to run 100% drop and hook, terminal to terminal freight, with backhauls waiting for you when you get there. They pay $1.15 per mile loaded and unloaded and 100% FSC. I would run from Charlotte NC to LA and back which is about 4836 miles round trip. I could run with a co-driver up to 6 round trips a month but I figured 5 trips per month to be realistic over the long haul. If I ran 50 round trips over a 10 month period that would be appx 241,000 miles per year, at $1.15 per mile thats $278,070 gross. So with no truck payment, appx $40,000 for co-driver pay, appx $90,000 at $3.00 per gallon for fuel (I figured high), add in appx $53,000 for FSC at current Daylight Transport FSC rate of 0.22 cpm, (I know that rate is constantly changing) appx $13,000 per year for insurance, 40,000 per year held back for maintenance, tires, pm, and rainy day fund plus add an extra $20,000 for quarterly taxes for the year $5,000 x's 4. $5,000 for authority set-up fees and yearly CPU fees and attorney retainer for each state I operate in and BOS, IFTA, MC #, DOT #, Heavy Use Tax, Base Plate, Qualcomm, truck equipment and any other misc fees I may have missed. With all of that added and subtracted together that is appx a net income of $123,000 per year. Not to mention the reduction in taxable income due to all of the business expenses just listed. If I bought a good quality used Kenworth, for example, with 500,000 miles with APU with an extended warranty and paid around $60,000, which is the average price I have found from looking, it would take me about 6 months to make back my $60,000 for the truck. My goal would be to have a 7 year plan to build a 3 truck company and stop at that and maybe run Amazon Prime contract freight which requires a minimum of 3 trucks in a company. Also I would plan on retiring each truck after 1 year since I would be averaging 241,000 in a year and selling the truck and put the proceeds towards another used truck and pay the difference from the company funds to maintain a reliable truck fleet from the first truck onward. NOW, I would love to have your opinion on my above listed idea. I know that I have missed something which is why I figured high on all of the above categories and I am also aware that vehicles are a crap shoot which is why I am looking at purchasing a tractor from a company which maintains their tractors at regularly scheduled intervals and maintains paperwork for all maintanence and repairs performed to improve my odds and also have the vehicle inspected by a 3rd party mechanic to evaluate the vehicle. I have been researching this for several months now,and have tried to think of everything I can. Your opinions and thoughts and advice on the matter would be greatly appreciated. Sorry for writing a book but I am an extremely detailed oriented person. Thank You and God Bless !!!!

 

@herk71 you completely lost me when you mentioned leasing on with a company that only pays $1.15 per mile plus FSC. If I get offered a load that pays that LITTLE I prefer to deadhead to loads that pay MUCH MUCH more.

The name of the game, ESPECIALLY if you get your own authority, is to reduce the miles you drive while increasing revenue. You won't get there leasing your authority to an outfit that is ripping your lips off.

Read the thread by @BoyWander and see what is possible.

Finally got my own truck

 

The company I'm refering to is Daylight Transport. They offer drop and hook loads from terminal to terminal so I was looking at running round trips from Charlotte NC to LA and they would have a backhaul waiting for you so there's very little downtime. So, myself and a co-driver could run about 5 trips per month. So that about 24,000 miles, at 1.15 per mile, would be about $27,000 gross. Then expenses. I understand that Landstar has loads that pay up to 2.00 per mile but what I was looking at was guaranteed loads and miles. With a situation like Landstar you have loads paying a variety of amounts even some under $1.00 per mile. Now, I also am looking at Fed ex. They are offering $1.50 per mile loaded and $1.00 per mile unloaded. I just figure that even if you making a little less per mile that in the long run you will come out ahead when you have loads you can count on.