Benefits of being an O/O at a company VS completely freebird?

Discussion in 'Ask An Owner Operator' started by RussianBearTruckeR, Jan 21, 2019.

  1. SteerTire

    SteerTire Road Train Member

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    Your right. No self respecting business man would sue anyone who owed him money lol. Who needs money?

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  3. GreenPete359

    GreenPete359 Road Train Member

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    Let me rephrase... i did not ask you the question, you chimed in with a b/s answer that has nothing to do with anything. You’re opinion does not matter.














    Back on point.
    If you use a factoring company and the broker does not pay, what does the factoring company do?

    If you are leased on and the broker does not pay, what does the Carrier do?

    Both questions are as it reflects to you the owner operator & your business. This again goes back to “chasing money”.
     
  4. Gdog66223

    Gdog66223 Road Train Member

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    I only factor brokers who are approved by the factoring company and have a high reputation of paying... Like Landstar, Werner, JB hunt, etc... even before I factored I never had a problem getting paid from any broker that I have ever dealt with... If it looks fishy then chances are it is..
     
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  5. RussianBearTruckeR

    RussianBearTruckeR Medium Load Member

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    thanks for the insight - with my very limited understanding (still learning as much as I possibly can & Will continue to do so on the road), when leasing, you're stuck to that companies load boards (excluding LandStar, I understand they have a good load board w/many opportunities)? It seems when you lease the company wants the double whammy from you around the clock:
    1) lease payments made :Tourist industry:
    2) Their Loads from their load board or shippers taken by you :Tourist industry:
    aside from the controlled & probably fixed CPM, it seems you still get steady freight that can pay more than the company job but you have overhead now, so you want to be in the green or else the company gets what they want & you're :violent3:
    Seems people go with companies as O/O for the guaranteed loads, no negotiating headaches w/brokers, some back office help, maybe some other perks (vehicles discounts, etc) - when O/O's are leasing under a company do brokers see the leasing companies history or your's (its your insurance) so is that another perk? I'm assuming you're still being dispatched by a company employee for the freight?

    I gotta talk to someone at LandStar - get a breakdown of their lease program - thanks for all the info, its very helpful! Stay Safe out there!
     
  6. Midnight_tim

    Midnight_tim Light Load Member

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    I just tell them I'm going to file against their broker bond. It has had a 100% success rate for me.
     
  7. GreenPete359

    GreenPete359 Road Train Member

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    That’s good to hear. It sounds like you have a good handle on it.

    In my operation, i don’t run brokered freight. All of my customers are in house so to speak. I send invoices out weekly on a 30 day net & i hardly ever wait more than 2 weeks to receive a check. I have some real good guys that i pull for.
     
  8. GreenPete359

    GreenPete359 Road Train Member

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    1st and foremost (i can’t stress this enough) DO NOT LEASE PURCHASE!!! Go thru a dealership. It is easier to get financing than you may think. They know the truck will make money. Hind sight what it is, i wish i had bought new. I have a good truck, but it is still 13 years old almost a million miles on it.

    Wether you BUY new or used, searching a company becomes more involved than searching a job. Not only do you need a job you’ll like, but a lease contract that will work for you. Not for others, but for you! Take your time now while a company hand and do like you are research the crap out of it. Remember you are going from a truck driver to a business man. Once you buy that truck, you’re running a business.
     
  9. Midnight_tim

    Midnight_tim Light Load Member

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    That is what most (if not all) of us dream of doing.
     
    RussianBearTruckeR Thanks this.
  10. Gdog66223

    Gdog66223 Road Train Member

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    Good job
     
  11. GreenPete359

    GreenPete359 Road Train Member

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    Thank you both very much. I put the work in while i was leased up. I don’t have that big of balls. Lol. If i knew going into it with my own numbers i’d of had to rely on brokers, i would have never pulled the trigger. I’ve had to many bad experiances as a company hand with them.
     
    RussianBearTruckeR Thanks this.
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