Needing Advice For Start Up

Discussion in 'Ask An Owner Operator' started by doubleA96, Jun 3, 2020.

  1. doubleA96

    doubleA96 Bobtail Member

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    Aug 17, 2017
    Decatur Il
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    Hello, I’ve been throwing around the idea of starting my own company I’m wanting to leave being a company driver to be my own boss. I’ve been in the industry for almost 4 years and I’ve considered L/P but I’ve seen firsthand how people get screwed in that game. I have a general idea of how I want to structure it (I’m moving to the STL area in a year or so). My big questions pertain to the idea of not putting the cart before the horse (getting my authority before the truck and how to get my authority, and how taxes work). I’m planning on doing most of my load booking through DAT boards and a handful of brokers. Another couple of questions I have pertain to 1) how do I get my authority with no insurance because I don’t have a truck to insure yet 2) Is factoring worth it and 3) what paperwork do I have to keep on file for compliance and audits. Thanks in advance for any and all insight
     
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  3. blairandgretchen

    blairandgretchen Road Train Member

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    Dec 9, 2011
    South west Missouri
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    All answers are available - please use the search button and about 6.25 days of research.
     
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  4. Swift09

    Swift09 Bobtail Member

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    Jul 4, 2019
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    I was in your shoes. With less drive time though. So this is just my opinion because it's what I felt was the smartest option.
    1. Pick what you want to haul. I only have ever done flatbed. I like the little bit of variety of strapping, or little bit of chaining.
    2. Find a good company to lease with in that field. They provide a nice cushion while you gain more knowledge if the industry.
    3. Find a truck to buy. Because some companies have requirements on age of vehicle.

    The rest is optional because you might be able to pull their trailer. Or rent one. Or you could buy your own.

    It is just very competitive right now. I went the safe route. The company handles all the paperwork. I get paid Wednesday if my bills are in the Friday before. Fuel card with great discount.

    I'm poor. I honestly think if I had tried any other route I'd be in big trouble right now. Because of the quarantine. But I'm sure guys would tell you in '18 you'd be a rich.

    Take your time. Make a sure, solid, first step. After that, Lord willing, hard work will take care of the rest.
     
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  5. SteveScott

    SteveScott Road Train Member

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    Nov 10, 2015
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    You kind of answered your own question. No truck, no insurance. No insurance, no authority. No authority, no business of your own.

    You also better have a substantial amount of money saved up for this venture, and I doubt if you have enough being a company driver.
     
  6. Chinatown

    Chinatown Road Train Member

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    Aug 28, 2011
    Henderson, NV & Orient
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    www.OOIDA.com is an organization that can help you get started.
     
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  7. abyliks

    abyliks Medium Load Member

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    May 2, 2010
    ludlow MA
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    You can apply for authority and get a Mc # but it will be pending until you get insurance

    you will never make it hauling cheap broker or load board ####, find your own customers or if you can’t to start out even try to find a local guy with a few trucks who has direct customers who wouldn’t mind loading you, you will still probably give up a small 5-10% to them but it still usually works better then 10 middle man brokers.

    you will need to set up drug testing, plus keep an application, mvr yearly, and take yourself on a road test/interview to make sure you are qualified to drive your truck (no I’m not kidding)

    Also a lease purchase does not make you an owner opp, depending on whether you buy a new truck or take time to rebuild an old one for a few months-year while you stay company you will usually need 5-7k to get to your first check plus another 10k cash and 15-30k of available credit cards or such for a worst case on the road
     
  8. Ridgeline

    Ridgeline Road Train Member

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    Dec 18, 2011
    Michigan
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    Why get an authority right now?

    Go with a company to lease with, learn what you can about your business, structure it to fit your needs and then run on your own.
     
  9. dztruck

    dztruck Light Load Member

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    Feb 22, 2017
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    When i was getting insurance quotes before i bought my tractor. You can just use any tractor vin for them just to enter it in.
     
  10. Mid-May Trucker

    Mid-May Trucker Road Train Member

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    Oct 23, 2018
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    Sounds like you done no research, luckily it is really easy to get rich quick. Call up lone mountain and lease a 500000 mile truck and you will make millions.
     
  11. dztruck

    dztruck Light Load Member

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    Feb 22, 2017
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    Lol i guess u gotta be in an O/O to find that funny. We all started somewhere man, he’s doing the right thing by asking.
     
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