Update - Booked my first load

Discussion in 'Ask An Owner Operator' started by W Bench Farms, Apr 29, 2021.

  1. W Bench Farms

    W Bench Farms Light Load Member

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    Went out on my own on March 1st and booked my 1st load. Thought I'd post an update after I've been at it for 2 months. I've hauled 26 loads so far, and ran 6863 miles. I've put in 239.75 hours. I've been trying to stay close to home. I've only spent 3 nights out away from home. I only run 2 or 3 days a week. Ran 5 days a couple weeks ago, only 1 day this week (well 1 day plus an hour or so tomorrow to unload.) I farm as well, so I work on equipment or cattle or land in between. I have grossed $22600 so far. Figures out to be $3.29 all miles, $94.26/hour to the truck. I pay myself 35% for driving. All freight except 5 or 6 loads have been off the loadboard. I'm pulling a flatbed, and it and the truck are paid for. I prefer pulling the oilfield and industrial loads that it seems like the other guys don't want. I don't haul coils. I have got in pretty good with a couple brokers that are sending me some loads that are pretty close to me, and have been paying pretty good.

    Haven't had any major truck or trailer issues, other than the normal. One blown tire. Regular maintenance. Just had exhaust manifold gaskets done on the truck, had one leaking. Have some things I want to take care of once I bank a little more. I have found out that EZ Pass and Pre Pass are your friend. Also, I'm ELD exempt, but I have been using Big Road on my phone, not connected to the truck. To me, it is WAY easier with the ELD over paper, because it always takes me a couple of scratch papers to get my logs right. But, I hardly ever run up against my hours.

    I now know that being an o/o is not for the faint of heart. I have had my authority for 10 years. Started out with tow trucks, and then just ran my trucks for the farm. There is a LOT more paperwork as a for hire carrier. I am pretty particular when it comes to having everything in order and accounted for. If you are not that person, I would recommend having someone available that is. One thing that I have found out is that it is tough to book loads when you're out on the road. I have been trying to book my week either Friday before, or Monday morning for the week. Sometimes the pickings on Friday are a little slim. All of the brokers I have worked with so far have been pretty good. I always ask for an extra $50-100 on every load I call on. Sometimes it works, sometimes it doesn't. I've only had 3 loads that I thought were cheap, and those were paired with really good loads so it averaged out. They were still over $2 per mile on all miles, but under my $2.20/mile that I feel is the least I want to run for.

    I'm looking forward to what the next couple of months will bring. Hoping to put some cash back to have on reserve. Planning on making a couple trips to pair with some vacation and visiting some folks that we haven't seen in quite a few years. Thanks to everyone that offered advice and encouragement while I was getting things ready to start out on my own.
     
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  3. Midwest Trucker

    Midwest Trucker Road Train Member

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    Outstanding! Great work and I’m very happy for you.
     
  4. Lite bug

    Lite bug Road Train Member

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    Good deal, off and running ( wisely )
     
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  5. Greenbug

    Greenbug Light Load Member

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    Salt Lake City, UT
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    Good fo you, sounds like you have done your research,

    At first I would suggest factoring loads only to get an idea of who pays out and who doesn't. Factoring companies will front you the money and keep a percentage but they also research the business you're dealing with so they know if they have payout problems or not. Once you get used to working with a few companies I would stay away from factoring companies. lol

    They are good in a tight spot but stay away if you can in the long

    at least thats the way it used to be,
     
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  6. Brettj3876

    Brettj3876 Road Train Member

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    Canceling cancel culture/CCC
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    Don't know much about factoring but if you absolutely have to make sure it's a non recourse deal
     
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  7. W Bench Farms

    W Bench Farms Light Load Member

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    Oct 16, 2017
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    Haven't factored any, and don't plan to unless I absolutely have to. Haven't even taken any quick pay unless it's no fee. I'm trying to keep all I can in my pocket. I only have one broker that is a little late on an invoice. About time to call and check in again. I figure if I spread out the load with several brokers, that's less of a chance to not get paid.
     
  8. pumpkinishere

    pumpkinishere Light Load Member

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    Apr 21, 2021
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    How did the booking process go? Is it a simple contract signing
     
  9. ibcalm19

    ibcalm19 Heavy Load Member

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    Yes it is pretty simple. Do read over them. The issue comes to head when a problem arises & they tell you it is on page 7 & you have no idea what they are talking about. You just want to know what you are signing before you sign it.
     
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