Own authority

All depends on how quick they pay. Quick as a week or 2 months. By the 31st im on the phone if the check ain't here

 

What Brett said. Some have free quick pay but I don’t fool with it. Hope for 30 days and expect 45. If it goes past 45 then it’s time to have a chat with them about filing on their bond. At 60 days file on it.

Get on Baxter Bailey mailing list to get a heads up on brokerages going broke. You’ll get a feel for it over time. Btw... congrats and huge shout out for doing it without factoring. I’d say a good 70% of companies factor. You’re doing it the right way IMO.

 

Our avg is about 21-28 which is prob industry standard. It seems like when ever i get on the phone after 30 days it's here the next week

 

Actually no that's the way almost all businesses work. You get paid 30 60 90 days. Generally in this business it's 30 days. You need to have enough money put away that you're okay until the money starts coming back in and you can cover all your bills and any mechanical problems or anything else until your money starts to grow.

If you don't like that or you don't want to do that then lease on somewhere and they'll pay you every week.

 

Or you can factor a few loads until the checks start pouring in.

 

That’s company driver thinking.

What’s nice about waiting 30 days is if you have a big breakdown, and injury, take vacation, etc then you have money still pouring in even though your not running. If you have 30+ days of operating capital, plus 30+ days of accounts receivables coming in, then that’s how people weather the storm when things get bad. If you are low on cash, and you factor, if anything happens your screwed and out of business. This happens a lot.

 

Most of us encourage new entrants to have at least 2 to 3 months running expense to get started plus more for breakdowns. Most big brokers will pay early for 2 or 3 % , some pay you early free and I'll leave it up to you to find those guys .

 

Yup , the mindset is different for some .