[zipy46]

I hear these guys quite often on the radio:

Forwarding Agents | Truck Load Boards | Truck Loads | Freight Brokers | Freight Trucking | Getloaded.com | Find & Move Freight Fast!

Anyone have experience with these folks ?

[GMAN]

I like getloaded. I was with them for several years. I canceled my membership when they raised their fee by more than 30%. Besides, most of the load boards have the same loads posted. You can subscribe to internettruckstop for $10 less per month or if you are a member of OOIDA you can subscribe to mytruckersedge, which is DAC, for even less. There are quite a few loadboards around. At one time I subscribed to 3. Since cutting out getloaded I have only two and they have been doing just as much for me as three.

[zipy46]

Originally Posted by GMAN

I like getloaded. I was with them for several years. I canceled my membership when they raised their fee by more than 30%. Besides, most of the load boards have the same loads posted. You can subscribe to internettruckstop for $10 less per month or if you are a member of OOIDA you can subscribe to mytruckersedge, which is DAC, for even less. There are quite a few loadboards around. At one time I subscribed to 3. Since cutting out getloaded I have only two and they have been doing just as much for me as three.

You mean they raised their 'cut' from the freight profits

or the raised the price on their internet site membership ?


Premium membership looks to be about 90.00 per month

[zipy46]

GMAN

Can you post an example of how a typical load plays itself out for an O/O ?

How the money is paid out...when you get you money etc...fuel .... FSC...etc.

I am trying to rehearse a feasibility study in my mind as to how O/O function out here on the road.

Is the paperwork a nightmare ?

Do accountants handle this stuff well ?

[GMAN]

Originally Posted by zipy46

You mean they raised their 'cut' from the freight profits

or the raised the price on their internet site membership ?


Premium membership looks to be about 90.00 per month

All I need is the load information. I can't see paying for all those extra things that I don't use.

[Fredog]

Originally Posted by zipy46

GMAN

Can you post an example of how a typical load plays itself out for an O/O ?

How the money is paid out...when you get you money etc...fuel .... FSC...etc.

I am trying to rehearse a feasibility study in my mind as to how O/O function out here on the road.

Is the paperwork a nightmare ?

Do accountants handle this stuff well ?

I can tell you how it works for me, I am leased to a small carrier, I have my own authority, but I use his, I pay my tag and 2290, he pays for permits. I get 80% of the gross plus 100% fuel surcharge, I get copies of all freight bills. I pay my own bobtail and collision insurance, the company pays liability and cargo. he also pays for prepass, tank washes and 2 blue beacon washes a month
he computes and files fuel taxes, what he does is take the total owed and divides it between the 7 trucks we run and then charges each one of us 1/7 of the bill, it works out fair since we all run the same places
I get paid on the 10th 20th and 30th, I have a company fleet one fuel card with a $1200 a day limit and no charge to use. I also have my own Tab Bank ( Flying J fuel card)
my wife does all of the accounting,so that saves me money.
I dont have to look for loads, he does it for me. I already have my dispatch for next week.
I have been averaging 1.68 a mile constantly, so that works for me
paperwork is no big deal, just a mileage and fuel report, logbook and monthly maintenance report
if you run your own authority, you will have more paperwork, like billing customers, filing your fuel taxes and etc, I would highly recommend leasing to a good carrier right at first until you learn the ropes

[zipy46]

Originally Posted by Fredog

I can tell you how it works for me, I am leased to a small carrier, I have my own authority, but I use his, I pay my tag and 2290, he pays for permits. I get 80% of the gross plus 100% fuel surcharge, I get copies of all freight bills. I pay my own bobtail and collision insurance, the company pays liability and cargo. he also pays for prepass, tank washes and 2 blue beacon washes a month
he computes and files fuel taxes, what he does is take the total owed and divides it between the 7 trucks we run and then charges each one of us 1/7 of the bill, it works out fair since we all run the same places
I get paid on the 10th 20th and 30th, I have a company fleet one fuel card with a $1200 a day limit and no charge to use. I also have my own Tab Bank ( Flying J fuel card)
my wife does all of the accounting,so that saves me money.
I dont have to look for loads, he does it for me. I already have my dispatch for next week.
I have been averaging 1.68 a mile constantly, so that works for me
paperwork is no big deal, just a mileage and fuel report, logbook and monthly maintenance report
if you run your own authority, you will have more paperwork, like billing customers, filing your fuel taxes and etc, I would highly recommend leasing to a good carrier right at first until you learn the ropes

Fredog...

How did you end up where you are currently ?

Did you bounce around till you landed with this guy ?

How did you connect with your current boss ?

[Fredog]

Originally Posted by zipy46

Fredog...

How did you end up where you are currently ?

Did you bounce around till you landed with this guy ?

How did you connect with your current boss ?

this guy was the dispatcher for the company I used to work for, he was going to buy the company but the owner changed his mind, he already had financing, so he got his permits and stuff and bought 7 tankers and started up. I knew that he knows how to dispatch and how to make money so I called him and he had me dispatched for a week before I even got the truck home

[GMAN]

Originally Posted by zipy46

GMAN

Can you post an example of how a typical load plays itself out for an O/O ?

How the money is paid out...when you get you money etc...fuel .... FSC...etc.

I am trying to rehearse a feasibility study in my mind as to how O/O function out here on the road.

Is the paperwork a nightmare ?

Do accountants handle this stuff well ?

I consider an owner operator as someone who owns his own truck but leases to a carrier. Some consider a single truck owner who runs his own authority as an owner operator. Technically, both can be true, but when you have your authority you are considered a carrier.

I am not sure that there are any typical loads. Fuel is usually your largest single expense. If your truck gets 5 mpg and fuel costs $2.50/gallon then your operational costs for fuel is $0.50/mile. Most brokers don't break out the fuel surcharge from the rate. When you lease to a carrier they usually separate the fsc from the line haul rate. Some are paying a different rate on brokered loads than those that come from their agents or direct shippers. Each carrier and broker uses a slightly different formula for calculating the fsc. I use $1.10/gallon and 5 mpg as my base. I know one carrier who uses $1.19 and another who uses $1.25/gallon for their base. Military freight no longer pays a fsc until fuel gets over $2.50/gallon. There is talk that it may disappear all together with government freight.
Some carriers use a percentage of the line haul rate and others use a formula which involves calculating the mpg and difference between the price of fuel and their base rate. To give you an example of how I calculate the fsc use the following. Fuel cost $2.50. Base rate is $1.10. That leaves a difference of (2.50-1.10) $1.40. I then divide the difference by 5 mpg (1.40/5) = $0.28/mile for the fsc. For easy calculating I will use $1/mile for the line haul rate. Add $0.28/mile for the fsc and your rate is $1.28/mile. Fuel costs $0.50 (providing fuel costs $2.50/gallon). The difference is (1.28-0.50) $0.78/mile. That doesn't take into consideration the other costs of running your truck. There may be some who can make a profit with that gross figure and others who may not. With current fuel costs it isn't enough to make good profit, but could enable you to survive until things turn around or to get you to a better paying area. Rates should currently be at a minimum of $2/mile. That is not likely to happen with the excess capacity currently in the market.

If you lease to a carrier then you may receive fuel discounts when you use their fuel card. Some can have significant discounts. This can help offset some of the cheaper rates you are likely to find.

Most people pay in 30-45 days. There are some who pay in a shorter time frame. Some offer quick pay if you are willing to discount the bill. Quick pay is usually when they pay you within 24-48 hours and discount the bill by a flat rate. Discounts can vary from 1-8% with most brokers. Some have the capability to direct deposit to your bank account or may offer a comcheck, T-check, etc. at an additional charge. You need to be careful with some of the added costs. I would not pay more than a 2% discount rate for quick pay. It is your choice.

The way it goes with a brokered load is that once you reach an agreement the broker faxes you a contract to sign. You will need to read over the agreement, change anything you don't agree with, and fax it back to the broker along with a copy of your MC authority, insurance certificate* and 1099. *They usually prefer the certificate to come direct from your insurance company. Once received and checked they will fax or email you a rate confirmation. You will need that to get paid. Once the load is delivered you send the proof of delivery (bill of lading), rate confirmation and invoice so you can be paid. Some want the original bills, others will accept a faxed or transflow copy. If you use a factor the process is the same except that all bills are sent to the factor.

The only regular paperwork is the mileage for IFTA. You have that whether you run your authority or lease to a carrier, unless they use a GPS system to do the miles. Under your authority you need to file a quarterly report for all IFTA miles. When you lease to a carrier they file the quarterly reports. There are other compliance issues that you will need to do for the dot, but for the loads that is all that is necessary. You need to track all miles by the load.

[zipy46]

Originally Posted by GMAN

Military freight no longer pays a fsc until fuel gets over $2.50/gallon. There is talk that it may disappear all together with government freight.

In a case such as this can you elect to decline the load if they are not paying out the FSC ?