So you want to "own " your own company

Cost will vary widely. Get in touch with your State DOT office and find out IRP and permit rates. Price a truck and use that to get quotes on insurance. Same with trailer. Do some research. You can save $$ by doing all the work yourself rather than paying a company to file everything for you. That way you'll know just what all is involved and you'll be wiser for it.

Not to bag on you, but this question's been asked many many times here. Use the search function of the forum and you'll find a wealth of information.

 

Bingo!!!!!.........

 

Ditto on what Gears said. I used Getloaded and loaded myself out and back. Never had a problem but checked credit and asked for references when I started but keep in mind I only use five brokers. Two loaded me out and three I used to get back to reload. I built a relationship with them and they called me more than I called them. Gears got a taste of that a few months ago when he was down and people were calling wanting to know when his truck was gonna be ready. It takes awhile to build that relationship but once it's done you will reap some benefits. I did use a local bank to "factor" my invoices so that helped as most brokers say they pay 30 days after receipt of original BOL. Don't believe everything you read on here. Yeah there's a lot of doom and gloom but there's a lotta guys like Gears who have built a broker base and do very well. Those are the ones you wanna pay attention to.

 

Hi there. I am new here and not a trucker. I drive a bus and am just thinking ahead a bit. I am thinking about going to trucker school to get my A license and am just wondering if it is possible to somehow become an owner operator right off the bat or must one work for someone for a few years first. I like the idea of being a free spirit is the reason why I'm asking. I know nothing about the trucking industry and am welcoming any words of wisdom. What would you say is the main stresses of this type of work? Thank You kindly for reading my post. Grateful,
Freeasabirdy

 

Start reading the thread titled "Instant O/O & Load Boards"

The answer should come to you. However, it will likely raise more questions.

 

gears,

Thank you for your input,I myself have listened to your suggestions in the past.
I thank you for your suggestions, they have helped.

As of today, I have my MC number,DOT number, registered with my state as to approx. which states I'm going to be traveling in for fuel purchase's, applied for my fuel stickers( i have to go pick them up at a local office near me), and I'm waiting for the paperwork to completely go through with FMCSA.
I just applied a few days ago for my authority.

Registered with the IRS, got a tax ID #.

Insurance is not a problem,got a good affordable quote.

I do have to learn about IFTA and the fuel tax's, spoke to the accountant about it, he has to look into it.
I need to find a company with a fuel card program so fuel purchases can be logged and tracked with them, this should be easier when tax's are paid quarterly.

Almost there.

Yesterday I received a job offer for a local route with a small company as an O/O, not going to make a fortune,I'll be in the black, I should be home every night/ every other night, and the best part is NO WEEKENDS! ( unless I want to work them).Also they have e-pay at no cost.

The wife is happy about that.

gears,
again, I want to thank you for your suggestions,if there any other suggestions/ideas please post/contact me.I know I'm probally missing a few things here.

crusin

 

First off, thanks for your kind words. In this difficult economy and equally difficult industry that's a result of the economy, it's great to hear success stories such as yours.

IFTA is not really difficult to figure out once you understand it. Just track your mileage by State, where you get your fuel (by State) and so on. If you can keep complete records of maintenance, trip records, daily vehicle inspections, logs, fueling and such, your life will be much easier.

A couple other things to remember to put on your checklist that is part of getting your Authority is the UCR and BOC-3. The UCR you can file yourself online.

Remember, with your own Authority, you can work with shippers and brokers as you see fit. If things don't work out with the company you spoke of, you have many other options available.

There can be a lot of negativity around here, surround yourself with positive people, believe in what you're doing and commit to success. Again, thanks for your kind words... you made my day!

 

gears,

The kids are having a school delay due to the snow( a couple of inch's, the paranoid school people are crazy I think).

Again thanks for the info, and yes there is negativity on this board.
I'm a determined person to succeed begin with almost everything I do and yes record keeping is very crucial.

The way I look at it, you must keep all receipts for tax reasons but also if I'm ever audited by the IRS, "I can say here are the record's".

I'll have to do more research on IFTA, I know I have to keep track of all fuel records for all states myself.

I prefer to have as few surprises as possible.

What I do need is to locate a fuel card program/company so when fuel is purchased, the company can track all fuel purchased, email me with the quarterly tax's that need to paid to each state that fuel was purchased.

Thanks again for the info,your suggestions will be heard from myself.

crusin

 

i wonder what the industry would be like if there were no big companies, only small fleets and owner/ops? would it help truckers? would it hurt shippers? would it destroy the small mom and pop business?

 

I don't think there's such a fuel card around as you describe. If there is, I'm not aware of it.
Here's why... the fuel taxes, as you know, vary from State to State. You track your miles State by State and where you fuel, State by State. When you file your IFTA return, you list miles by State and fuel purchased by State. Unless the fuel card company offers an accounting program, there's no way for them to know how many miles you drove in each State that you're reporting.
Clear as mud right? IFTA reporting is not rocket science and is not difficult. I'd rather handle it myself than risk someone else doing it and possibly doing it with errors. I live in Iowa and the return can be completed online, it's not hard to do once you've done it a few times.
I have a Fleet One card that's offered through OOIDA. It's actually a debit card. They take $$ from my business account once per week, for the amount of fuel I charged. I've not had a problem with them, however the card is not honored at Flying J's.
Hope this helps.