Out of Business

Discussion in 'Trucker Forum Classifieds & Trading Post' started by Tex75Ga, Feb 7, 2025.

  1. Tex75Ga

    Tex75Ga Bobtail Member

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    I am an owner operator like so many drivers around the nation. This year unfortunately I had to close my business this year. The past few years with high prices everywhere and a slow market after COVID has had negative affects on so many independent drivers.
    I have been a driver for over 24 years and independently for 10yrs. I have had my own authority for a little over 4 years and I am now looking to sell it if anyone is interested. It has a clean and satisfactory record with Fmcsa. If you have any questions please message me. Thank you!
     
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  3. NorthEastTrucker

    NorthEastTrucker Heavy Load Member

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    Sorry to hear and read this. Its a very difficult time in trucking unless you have some direct contacts. Even then, you have to worry about other carriers low balling & undercutting your rate.
     
  4. Tex75Ga

    Tex75Ga Bobtail Member

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    I was fortunate to have a direct customer and now wants to hire me but it is something I am willing to try and they are very flexible. What really put a stop to my business was the high mileage rig that started breaking down for obviously all the exterior ware and tear which financially whipped me to a point where it didn’t make a sense to move forward. I am now selling what I have left to pay my business debt just to be in a comfortable spot with next job. I was making decent $ because I knew the business. I held on as long as I could.
     
  5. Iamoverit

    Iamoverit Road Train Member

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    Is your authority under a sole prop or is it an LLC or corporation?
     
  6. Tex75Ga

    Tex75Ga Bobtail Member

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    I am only owner so sole proprietor.
    Mc 1143459
     
  7. runningman0661

    runningman0661 Road Train Member

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    Don’t worry some Eastern European owned company will snatch that operating authority right up, so they can rebrand because of their horrible safety score, or so they can commit fraud using a clean DOT number.
     
  8. Vampire

    Vampire Heavy Load Member

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    Sorry to hear about that. God bless. Do you have any equipment you’re selling?
     
  9. Iamoverit

    Iamoverit Road Train Member

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    Start an LLC in your home state and then transfer your authority from the sole proprietor to your LLC. You'll also need to have your insurance policy and bank accounts setup under that LLC. Wait a year then sell the LLC.
     
    Rideandrepair Thanks this.
  10. Tex75Ga

    Tex75Ga Bobtail Member

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    If interested, I only have a 53’ dryvan Utility 2016. Air ride, metal roof laminate walls. Errata, side skirts, tire rack. Let me know. Thanks
     
    Rideandrepair Thanks this.
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