i musst say very well put M,ENT,we all are learning due to nothing stays the same,but there is general knowledge that is common sence,but then again ,,,one could have so much on their mind and trying to put a plan together,and thru that process get confused and ask the almighty stupid question,,,,,,and the way i was taught ,(the only stupid question is the one you didnt ask) that stupid question might be the question that puts the puzzle together for that confused one???? everyones differnt ,and some pick up on things faster than otheres and yes my dear friends my spelling sucks!!!!!!!!!!!!!!!!!!roflmao at least i can laugh at myself,,,,gots to have a sence of humor
To run under your own authority I had about 20k in reserve plus trailer cost. $400 to file for authority. $550 HVUT form 2290. Insurance 1M general liability and 100k cargo = $1000/month Licsence plate/ifta $1500. unified carrier registration $350 Once you have paid all of these You need to join a load board (Get Loaded or Internet Truckstop) $30/ month and spend the extra $30 to get credit check option, I learned that lesson the hard way, I got stiffed $5000 (ouch) it still hurts. You will need to have the remainder of the $20k to pay for fuel and lumpers until you have your cashflow pipeline primed. If I can do it, you can do it. It aint easy but I am my own boss. If a shipper or receiver angers me I can always drive away. I never have though. Just having that as an option is good enough so far.
I foregot you also need to get a fuel card so you can get the cash price. If you join OOIDA they have a fuel card you can apply for. They are also good for lawyer referrals and many other useful areas when you need them.
May a lady put in a reply? Hubby has been a trucker for thirty years-I know I should have smacked him alongside the ear when he decided to do this. He has been an O/O at various times, and a company driver at various times. And I do all the accounts and posting of receipts befoer handing the whole ledger over to our accountant when he is doing the O/O schtick. To be brutally honest, it does not matter whether you are a company driver or an O/O-there is no money in trucking. I always despair when someone tells me they want to be an O/O. As a teacher, I always make sure, when young men are discussing careers in what we call "Personal Planning" here in BC, that they know the brutal truth about the trucking industry so that they keep well away from that career. It is truly sad, when any trucker, having made the typical poor pay as a company driver, thinks they will bring home more money if they become an owner operator. A truck is a giant hole, moving along on giant tires, into which you pour giant amounts of money. I am now 62 and have been "mother" to over 15 trucks in the past thirty years. The only money I will ever see in this industry is if my hubby drops dead-I have insured his butt to the hilt!