So you want to "own " your own company

I want to become an owner operator. I've been a driver since 2000 i'm tired of having a boss.

I wanted to know what the total out of pocket cost is for all of the permits etc that i would need including insurance, ifta, dot# mc#

 

It all depends on:

• Your vehicle; year, model,....
• Your radius of operation.....
• Experience...
• Safety/driving record....

Additional expenses are IFTA, UCR, and some states like NM, require a Weight-Distance fee...

OR is not part of IFTA but, you have to have OR listed in your Cab Card if you choose to run there...OR has a separate fuel tax schedule...

You also have to belong to a Drug and Alcohol testing consortium....


A visit with an accountant would be helpful.....You need to know what your BEP (Break-even Point) is including paying yourself....and that's before making a profit.....



Peruse the board...there's plenty of helpful hints in the O/O section....

 

Uh....if you do become an O/O...you'll find that won't change much.....Your boss is the one who signs your B/L......In fact...as an O/O....You'll "work" for several bosses....

 

For my self only, here in Maine, I am looking at about 20 grand startup cost to put a truck on the road, with all fees paid, licensing, insurance, costs on charges throughout a year (fuel stickers), signage (who you are), EZ Pass.

 

SDS.....
You asked this very same question on another thread here. I answered explaining the process. Can't you read? Do you not know how to navigate through the various threads? Don't believe that what I post is in fact the truth? What???
Once again, in case you missed it:
Subscribe to a load board, when you see a load you're interested in, you call the broker that posted the load. Negotiate a rate. Contracts and paperwork are signed and exchanged. They'll want a copy of your Authority, Insurance Certificate, Tax ID etc. They'll have a contract for you to sign. Once that's done, a load confirmation is generated by them which spells out the load, pickup and drop(s), price they're paying etc. You sign and return. You're committed to the load. Once load is picked up and delivered, you submit the signed BIL along with your invoice. Broker writes a check and you should receive anywhere from 30-45 days after they receive it, regardless of the invoice date. If you need your $$ quicker, you can factor or some brokers offer a quickpay for a fee of course.
This is a simplified explanation of the process.

 

This is what i was told never accept less than 40% at pickup 50% is better, if they refuse walk away and call on other loads.

Even though ive never actually used them,,, after playing with them getloaded seems best all around to me.

And i also been told if you rely on loadboards a 100% you will go broke.

 

I've never heard of, or met a broker that pays within 15 days as a normal course of their business. The load board I belong to (MembersEdge) lists the average time to pay for the brokers listed. I don't think I've ever even seen anything under 28 days. The 15 day payment, if I remember correctly, was on a few lease operators that I saw in their contract.

Hope this helps. Some will also ACH (Automated Clearing House) your money which is similar but not the same as wire transfer. Much quicker than a check however.

 

I don't ask for $$ up front. Doubt there's a ton of brokers that will give that much up front if they even give any. I use brokers and load boards exclusively. I've never NOT had one refuse or not pay me and am far from going broke. Use brokers that have a good reputation and credit rating and build relationships. Prior to all the naysayers around here, not all brokers are crooks.