preparing to make the jump

Rates are lower at the moment. I wouldn't make the jump. Unless the economy picked up. But the "bull whip" has happened a handful of times. So things are out of wack.

 

Spot market is all in rate. What you see is what you get.

 

If I had enough money stacked up to get a truck. I would wait till the truck prices bottom and then buy one. Maybe three months after they bottom. I might think about leasing on with some one. Just to get away from. Paying the 10k to start the insurance and it's factoring included in the company. Just a thought. I did alright pulling tankers. But the surge tears up the drive line after a couple of 100k miles.

 

You’re looking at the bottom feeder loads, you think the good stuff goes on free pubic load boards.

 

You should lease on with a company that has their own contracted freight to move and learn the business before getting your own numbers. Being an Independent OO is very different from being just a driver. There's so much to learn and if you jump in now or even a couple months from now the brokers and the market will literally eat you alive.

 

Are you buying your equipment with cash ?

 

If your still learning, nothing wrong to leasing onto a good company. Learn the market and the business side. Make the jump when your ready. I recommend working out a deal and getting at least one direct customer once you learn your numbers and your future goals. The stability will help. Lasting relationships are important. You may loose a lane, but you may get it back later on. Just business. Some just run the market and operate like sharks. They know the game and play it well. Some look long term for relationships and pursue to build a trucking empire. Some in between and some last for a few years and go out of business. Be careful who you take advice from. Some here have their stuff together and run fleets that employ folks while others don’t even know if you fail to pay tax estimates quarterly you will be fined. It’s all what you make of it.

 

I refuse to pay quarterly taxes. I pay a small percentage fee as a penalty at the end of the year. It's better than giving away my revenue to a bunch of crooks. I use anything over my preferred tax bracket to spend back into my business. Trailers, equipment, tools, maintenance, stock items etc. Giving the Feds a free loan is not wise.