After getting my truck and paperwork completed...

Oh boy, this oughta be fun.....

 

double post

 

When I hung up my authority, average time to pay was out past 90 days... I had no choice but to factor. Running load boards, meh. You would be better off finding a good small carrier to lease your truck on with until you figure this game out. If you want to make a million dollars in trucking, start with two million.

 

Business billing cycles are generally 30 days. You have just struck upon a harsh reality of this business. Start up you need to be able to operate your truck for 3 months. You're going to find that a lot of accounts will stretch 90 days out of 30 day terms. You have to be able to carry your operating costs until you start getting your money in. You can negotiate whatever terms you want on a by case basis but..quick pay = % points. That is usually a better option than factors though. Load brokers for the most part are bottom feeding slimeballs. imo. If you haul 3rd party freight you're better off dealing with originating carriers.

 

Fuel is your biggest expense out here, and then the truck maintenance. Figure if you get your authority, the insurance company will want at least 10% down, cargo and liability is all over the map as far as where you domicile the truck. Could be $8000 up to what, $15,000 a year... Or more for any old reason. As far as pay, brokers like CH Robinson and Landstar offer quick pay, but they take a percentage off the top, I forget how much, as it has been awhile. And then you have to watch for the brokers that do not pay, and or double and triple book a load. You get there, and the freight is gone, wasting all of your time and fuel. Going full blown independent vs leasing to a solid carrier are two different worlds. The reason I parked my authority, to many headaches, and I do better where I am.

 

some brokers can pay with com checks or electronic funds. you can ask upfront. i only have a few brokers i do work for and others are direct. all have always paid me by mailed check, never asked about other payment methods, i normally make it home every weekend so i just drop off what ever has come in on the weekend. i have on a few occasions had checks mailed directly to my bank and have them endorse it as for deposit only and give them my account number to write on the back before they mail it.