Advice on Growth of Business

Discussion in 'Ask An Owner Operator' started by JCharlton84, Apr 24, 2017.

  1. JCharlton84

    JCharlton84 Bobtail Member

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    Feb 25, 2017
    0
    Hi Guys!

    So, I just wanted to get some opinions on expanding my business. By the way, I had previously posted about how to get more employees and we did indeed, find more! I am also on my way to offering employees health insurance, life insurance, and a IRA. So thrilled to be able to provide that for them!

    My next question is on our growth. As mentioned before, we are contractors for Fed Ex Ground currently, and things are going pretty well, all things considered. But I want to diversify my interests; I don't want to have all my eggs in one basket.

    I'm looking at onboarding at Amazon Prime, Rose Transportation (railroad/intermodal) and weighing the pros/cons between them. The other option is of course, being free of a big name MC and running my own loads under my own authority, or through a broker, which of course comes with many many pros and cons. I'd love to hear from more experienced business owners if you have an insight here on any of the three options. Thank you!
     
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  3. Ridgeline

    Ridgeline Road Train Member

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    Dec 18, 2011
    Michigan
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    I am leased to a few companies, I also have an authority that was part of a deal with a distressed company. I make more money leased than I do with my authority but I also have three to one ratio in trucks between the two.

    I pay all under a 1099, which I had only a few complain about. I also have vacation/time off policies, I have standby drivers who can handle work for dedicated routes and so on.

    FedEx ground if it is profitable would be a stepping stone into Supply Chain, and other specialty stuff worth looking into because FedEx is a 100% contractor company.
     
    JCharlton84 Thanks this.
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