DOT ~ Owner Authority??

Dime a dozen

 

Running a Department of Transportation?

Do you mean running a trucking company?

 

Best of luck with your new business venture.

 

I did some past post research - I think you’re right.

 

www.OOIDA.com is a business website for the owner-operator and small fleet owner.

 

If you are crossing state lines you will need a MC number which can take 30 days to get. The insurance is very expensive but if you have the start up funds it will be worth it. In my state we had to do an application for the IRP tags and it took three weeks or so to get the tags.

 

Forget the idea.

Right now we are going into 2020 with a huge surplus of trucks, trailers and capacity and declining rates.

Adding to it only screws the rest of us especially with someone who is clueless and will, not might but will end up taking any loads by running on super thin margins that it will make onion skin look like black out curtains.

 

When you lay down at night instead of reading a novel or whatever it is you do before bed read blairandgretchen, double yellow, wonderboy, and farmerbobs thread on being O/O. If you finish all four and still want to do it with no experience in the industry then I'd really encourage you to keep an honest journal of your progress here on TR.

 

If I understand correctly, your husband has been an owner operator for a little while, and you run the business end of it without much trucking specific experience. Your questions are less "should we do this?" rather "it's a fait accompli, how do I do it?"

I don't know how much of the business you know and don't know, so I'll start at the beginning, assuming you don't know a thing. First any company that does interstate commerce with a commercial vehicle needs a USDOT number, as well as certain intrastate hazmat carriers. If you will be hauling cargo for hire, you will also need a Motor Carrier docket. It used to be that in addition to having the DOT number on the truck, you need the MC number too. No longer. A company that operates trucks under their USDOT number is required to keep records. Most notably, but not limited to logs, vehicle maintenance and driver records. The FMCSA has loosened the record keeping for one truck owner/driver. These records will be looked at in an audit. Driver logs must be retained for 6 months, then the proper thing for the carrier to do is destroy them. If you have drivers leased on, then you will fulfill the maintenance requirement by getting a monthly recap of maintenance done and the DVIR. Unless your drivers are exempt, you will need to provide a logging service, even though you can charge for it.

Brokers usually pay only after 30 days, but most offer a quick pay option for a 1-2% discount. There are factoring services, outside companies that pay you for your invoices, again for a discount. There is strong disagreement here regarding using factors. The only thing I will say is that even big companies use factors.

As far as paying any owner/operators, percentage is easiest in your case, although you may find that charging a flat rate if they book their own freight. Just remember, if you allow them to do that, you may be left holding the bag if they decide to do anything with the freight. They must run under your insurance, but you can charge them. Honestly, in less you are providing something like a fuel card, fuel discounts, financial backing, etc, there really is no benefit to a 1 truck company to lease to a 1 truck company.

I hope I gave you a little info to start. For more info, read @double yellow 's thread.

 

Why do people continue to feed people's unwillingness to do their own research by responding to posts like this.

Stop the madness! Lillyloo, learn to search and read!