What to do

Discussion in 'Ask An Owner Operator' started by kw600, Sep 3, 2013.

  1. skateboardman

    skateboardman Road Train Member

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    first off, you don't have to be an llc or a corporation to get your authority, you can do it as a sole proprietorship. I have done it that way since I got my first truck in 1989. unless you are looking to grow and a bunch of trucks its the simplest and easiest way by far
     
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  3. kw600

    kw600 Road Train Member

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    I do have set goals in life and as a business do plan on growing, and i know hard work ill get to my 5 truck goal, thus my thoughts on the llc.
     
  4. 68Goat

    68Goat Light Load Member

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    KW, your insurance will be pricey, no doubt. I would say 12-15k is about right depending on your driving record. Even if your father got the authority, to insure you at 23, will still be high. The point you bring up here, though, is valid. You have a five truck goal and you want to achieve in your life. 23 is the perfect age to take life on and make a mistake if that what it ends up being. Based on what you've said so far, though, and the energy level you seem to have, I think you've got just as good of a chance as anyone else. This is cheesy, I know, but Phil Robertson from Duck Dynasty always talks about the fact the Willie, his son, took the Duck Commander company further than he ever would have. Maybe a little nudge from you wouldn't be the worst thing in the world?
     
  5. kw600

    kw600 Road Train Member

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    Hopefully i learn from my mistakes, however i hope they will not cost us. What do you mean by little nudge?
     
  6. 68Goat

    68Goat Light Load Member

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    They (mistakes) will cost you bit it's worth it, right? That's all life is...a constant ### kicking and a constant learning process with bolts of joy in between... Unless you're a trust fund baby. No one on here has lost more money than me but I haven't filed for chapter anything and I'm kicking ### the best I can. I'm making money every day because I put my head down and make it and I won't stop until I'm in the ground. I identify with your fire and I encourage you to embrace it and travel YOUR path. Fathers are wonderful and mothers are wonderful but if you know deep down that you can do something and you envision it and stay positive and work your ### off while your friends are going to the bar etc...you can do anything you want to do. The nudge? I mean...just maybe, you have to step out there and do it. Just maybe your father will embrace the challenge and your willingness to put yourself in that position. Maybe that's what he is waiting on??? If not, ok. You'll be alright and as a father myself, I can tell you that he will welcome you back with open arms and a business loss will not kill you. You will learn valuable information for the next go around.
     
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  7. Saddletramp1200

    Saddletramp1200 Road Train Member

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    Finally a thread I can mouth about. I am an O/O slap it on the trailer under My Guidance. I'm not with some TV show. I have not hauled everything their is so I am guessing. YOU own it, you tell me! I have a pretty nice truck. I don't have an attitude, and will treat you well. My goal is to make a living serving you. Others serve me, all about the food chain. Everything you haul means a lot to someone, so be a Trucker. Your 1.20 million bus, or the necklace for a child. I will get it from Chino to Bangor. It's what I do.
     
  8. dannythetrucker

    dannythetrucker Road Train Member

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    It sounds to me as if you like the IDEA of getting your own authority, but do you really know what it is and why ? Instead of saying, "hey dad, hey dad" maybe you should be out finding information to help him (and you) make that decision. Getting the authority is only the first step, what you do with it is a whole nother animal.

    So if YOU want him to do it, maybe YOU should be getting insurance quotes, putting together a checklist (see "the steps, forms, and info" thread). Will insurance eat you alive ? Well, it's a simple math problem. Find out what insurance and whatever additional costs you will have, figure out what kind of rates you can run for independent vs. the percentage based pay you run now and see. I'll bet when you can put it all on paper your dad will take your pleas more seriously or even let you set it up if the numbers work out. And if they don't then you can say, "hey dad, I don't think maybe it is such a good idea after all"
     
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  9. kw600

    kw600 Road Train Member

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    Ive called a two for insurance and they told me I need a
    business formation to get quote, they dont just let john doe ask for a quote,we even called ooida and they said the same thing. I have a checklist of what is needed and ive done my homework so its not like im just waiting for my dad to do all the work. Ive made several spreadsheets and know what our cost is to run i just wanna go out on our own
    Maybe im not liking who were leased onto and the pay
     
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