If i can factor 600-650 for a load going less than 300 miles , i am in good shape I belive, i am not doing otr its going to be regional /hub be home everyday .
truck is going to be a day cab ..
O/0 working for freight boards online
Discussion in 'Ask An Owner Operator' started by snowman76, Feb 6, 2008.
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you sound as if you have your mind made up to me.so why ask? Just let us know how it goes
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im not 100 % yet, but that is my vision goal and im trying to stick with it this way , but accepting as much feed back and opinions as possible, and you guys are helping alot ...
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5% IS your profit margin.
Some days I gross $0 and the next day I might hit as high as $1300 gross for the day. Company I'm leased to takes 20% off of that. -
how is it legal for them to take 20 percent ????????
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What do you mean?
I could work for 20% if I was that stupid. There is no law governing this sort of thing that I know of. -
If you are getting your own authority you will find out why they get 20% for leasing to them.
BAck when we had our authority we leased people on for 10% but these were friends and they ran there own freight, booked there own loads. I just did the fuel and taxes and billed the brokers then cut there checks. not bad for 10% -
Maybe I would factor about half of the loads when just starting out. I would only do that to pay for fuel and whatnot. After the paycheck pipeline is primed, I would only factor loads where I dont think the broker would pay, In theory, because if I dont trust the broker I dont haul their freight. Factoring is like getting a payday loan. Truckers like us get the doo doo end of the stick. We spend the money on the load before we get paid for it. When you think about it, we are lending the shipper and the broker an amount equal to the pay for hauling their freight. Why dont we get interest for loaning that money owed for the service we provide for anywhere from 15 - 60 days? I cant think of any other business where you get money or service interest free. Just my $.02
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