Input from swift L/O

Best thing to do right out of the Gate is form an LLC. Put everything and anything in the LLC. Protect all your personal life and keep it separate from your business life. You are now 2 people, congratulations. I pay $1000 per quarter for Fed and state and at Tax Time I file an Corporate AND Individual return. Usually get most of it back but if you don't pay quarterlies you mess with the IRS. bad idea. late fees, fines, yada yada. either way keep your business and yourself separate. Only way to fly..... and ignore the naysayers, they cant help,,,

 

hey driver I am going to Syracuse tomorrow for oriant. i am on the WM dedicated i tryed to do it as a L/O but there is not enough miles to make it profitable it only averages 1950 to 2200 mile a week plus stop pay $.46 a mile home two days a week but i know there is two other dedicated accounts that runs upstate NY and New England alot its OTR but home 3 days on average 2 day home time and thru the house once because of pick ups and del. every 14 days i'll try to get more info on what it is

 

I believe there is a North East regional that pays percentage ... beyond that not to sure how it works. Like squeak mentioned, you need to run company for month to be able to finance the down payment. Most terminals have a O/O recruiter. See if there is one in Syracuse. That would be the person to talk to.

As a side note, Swift does not have an L/O, L/P or IC division .. Swift only has and O/O division. Anyone who has their own truck, regardless of the disposition of the financing is considered and O/O at Swift.

So for the sake of consistency with the company culture, I use the term O/O ... That and it gets the panties of the trolls here all up in a bunch and we must keep them fed, less they leave us and we loose the benefit of their entertaining shenanegans.

 

GAPathfinder if you got your truck from lone mountain ...is your base plates thru swift and what is your cpm by doing it that way...thanks in advance

 

cpm stays the same unless you negotiate bringing on a "fleet" of trucks. - I already checked and that is why I am taking my Lone Mountain truck to Landstar.

Swift was very good to me and I won't run them down ... ever

Landstar just offers more money, bigger fuel discounts and a much wider selection on freight with 65% of the line haul and 100% of the fuel surcharge. Just seems to work better if you have a truck from an outside source.

 

I'm company with swift now and thinking of buying from lone mountain. I talked to l/p there and they seem to push their trucks, so how hard was it to bring your truck aboard with them. if you don't mind me asking. thx

 

I understand the more money else where but if the freight is there for me to start out with in the beginning I think I could learn more before switching elsewhere.is the point im getting at/thinking

 

Lone Mountain is a truck provider only. You don't bring your truck on with them. Coming on with Landstar has been an easy process. I don't understand your "l/p" where they are pushing their trucks. Landstar does not lease trucks. Please feel free to clarify and I will take you through my entire process.

Both Lone Mountain and Landstar have been wonderful through this transitional phase and I see no reason for it to change. Picking up my truck on Wednesday from Lone Mountain and reporting to orientation for Landstar on Monday.

Ask whatever questions you like either here or in a private message and I will be glad to walk you through my personal experience. Just keep in mind it is "my experience" and I won't get caught up in what others may say...both positive and negative.

 

Starting out as an O/O from company is a nerve racking experience. How much time do you have as a company driver? Have you ever owned any business before?

What I usually recommend to people looking to switch from company to O/O is this:

See if Swift has any vehicles that have been turned in "off lease" that still have serviceable time left. They almost always do because too many people get into the O/O realm for all of the wrong reasons. Find a truck with a very short time left, say less than 1 year. I have seen them with only a few months left.

As bad as people say Swift is....most of them either haven't worked for the company or thought they had all the answers and failed all because of their self. Use Swift as a "training school" into becoming an O/O...they do a great job of helping you. After the lease is up you can contact Lone Mountain and see about getting your own truck to do what you want.... (1) Stay with Swift (2) Lease on to another company (3) Get your own authority (4) Go back to being a company driver with multitudes of companies.

The key is .... DON'T RUSH INTO ANYTHING THAT YOU AREN'T COMFORTABLE WITH.

Evaluate what you want.....gather knowledge about what you think you want.....make a written plan.....have that plan evaluated by someone that is being successful aT what you plan to do....

EXECUTE AND STAY WITH YOUR PLAN.

 

LLC is a great idea. Type "S" is better for taxing purposes. An LLC is what is called a "pass through" corporation. Your assets are protected but all of the income is still listed as personal income. You can do more as a type S corporation that will save you thousands in taxes. Of course be sure to consult your own tax person.

Legal Zoom does a great job in helping form both types of corporations. GOOD LUCK