New to business, need opinions

[td5952]

As of right now I buying a truck from company so until it's paid I am under their authority. My problem is do I just stay under guys' authority to simplify things or get my own (never done before) after it's paid off? I had 100 weeks of $200 to pay off (or lump sum if I desire, no penalities for early payoff), $2k is paid now, so $18k left. Here is list I pay:

• 15% of load, minus fuel surcharges
• $200/week truck payment
• $138/week insurance, know I will have that anyhow
• $125/week trailer rental. Buying trailer this week anyhow.
• And guy who has authority drives himself so getting good paying loads doesn't happen, just what his few brokers call him on. I don't sit long with him though, he keeps truck loaded.

I am just afraid of doing something wrong on own authority. I am computer savy so IFTA stuff won't be too bad (plus I'll buy PC Miler, lol).

Please give your two cents, good or bad, thank you,
Tyler Bonham-B&B Recycling LLC

P.S. I am car crusher too and do haul my own crushed cars 2-3 times a week. Pay him 15% on that also, and cars have no fuel surcharge.

[GMAN]

I would not worry about making mistakes. You will make them. We all do. That is how we learn. We do want to try and minimize the number and severity of those mistakes. From your post it seems that you are obligated for the next 2 years unless you want to pay your truck off early. Some people do well running under their own authority and others are better off leasing to another carrier. It isn't all that complicated running your authority, but it does require that you do more paperwork than when you are leased to a carrier. I have leased to carriers in the past but prefer running my own authority. It works best for me and I have always done better on my own than leased to someone or working for someone else. There are others who have experieced the opposite. If you get with a good carrier you can make a decent living. The main difference between running your own authority and leasing to someone is that you have the opportunity to do more on your own and you are not limited to the carrier's freight. Plus, you can negotiate the best rate.

[td5952]

The truck will be paid off within 2 months. I have already set aside about $4k last week (just set aside one whole check from small load of crushed cars). My biggest thing with the guy who has authority is that he drives/runs hard himself. He is not open to finding better paying loads but just few brokers that call him with cheap crap. For example he sent me with crushed cars (not my own) from Tulsa to Jackson, TN, for $710 before any of his fees are taken out, was 500 miles ($1.42/mile). I had to wait 6 hours to load cars in slop and mud and rain. I could have went 40 miles north and got load that just need strapped down no tarps or anything headed back 100 miles from where I could loaded my own cars, that loaded paid like $1.91/mile, but instead I went to TN with cheap crap and got cheap crap back. Don't get me wrong he keeps me loaded but cheap freight. Yes I know freight is cheap nowadays but I have known loads from brokers he is setup thru that he hasnt even attempted (keep in mind he himself said broker was good). Sorry I am jabbering on, just has me aggravated. I think I just answered myself on getting own authority, lol.

I guess that settles it, own authority it is. I also plan on getting 2-3 more trucks and trailers to hire drivers on in future so own authority works better. Thanks for input.

[GMAN]

If he will allow you to find your own loads perhaps you could find better paying loads on your own and run them rather than loads that he sends you. $1.91 sounds much better to me than $1.42.