Would you work for this company?
I know of someone considering getting his authority and has a couple OO's wanting to run under his authority for 75% of what the load pays the first year and 20% the second if no lates, violations, etc.. They can plan/dispatch themselves or be dispatched. If their good record gets his insurance lower and in good graces with DOT is why the first year is 75% then 80%. He has it more detailed but essentially this is the meat it. He provides the trailer but if they get their own then 80%.
Is this something to consider being a part of personally or get my own authority and run run run? I am an OO leased onto a company earning $1.32/mile for all miles currently. I have read loads here and need opinions on this unique situation. |
I started 2 years ago and ran my first year under similar conditions with two carriers. After the first year, I got my own authority. Best thing I ever did.
I don't know how you can survive on 1.32 a mile. |
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Good to hear that being stuck on the fence with this. OO since 10/13 so don't want to waste time now age 58. When you started under your own authority how did you get your loads and progressed to....? |
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My first 6 months with my own authority, I was using Member's Edge from OOIDA. Around Jan this year, I looked at what I did and compared them to when I was at ITS. I had better income from ITS. Comparing the 6 months from 7-13 to 1-14 and the same period 12 months prior. (All of my finances are in Quicken Home & Business so that's an easy report to run) Since then, I have gone BACK to Internet truck stop and run off the load boards. I have some other stuff I am looking to do now and things are going to improve. For the year so far to date, I am averaging $2.11 per mile on 22,500 miles so far for 1Q2014. 2013 I was $2.11 per mile on 74,000 miles for the year. I took about 12 weeks off in 2013 and stayed home. Some because of the truck breaking down and needing to be in the shop, others because I just wanted the time off for personal reasons, others just for the holidays and I was home with my daughters. |
[QUOTE=mndriver;529932]For the year so far to date, I am averaging $2.11 per mile on 22,500 miles so far for 1Q2014. 2013 I was $2.11 per mile on 74,000 miles for the year.=QUOTE]
Does this include deadhead miles or just loaded miles? |
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How about fuel+maintenance discounts? NASTC offers fuel card upon attending seminar I know but maint discounts? OOIDA? Or WGAF if I am getting $2.11 vs $1.32? OOIDA will set up my authority since NASTC does not do everything but I'll try to attend NASTC seminar for info.... |
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I do NOT factor. I can't even recommend that. I do use quickpay from the brokers though and payments can be as fast as next day. Brokers offer quickpay at a 1-5% discount from the load and pay as quick as next day. I have a scanner in the truck and can scan the bills in and invoice from the loading dock. As soon as I email them the POD, INV and BOL, the clock is ticking. Just this week, I delivered on Weds, got the check on Friday. How's THAT for turn around on pay. Quickpay discount? 1%. I enrolled in one carriers "preferred carrier program". Cost was nothing. Pay is 5 days. No discount. I get my fuel on the OOIDA Trucker's Advantage FleetOne card. Because you are a one-truck operation, best discount you'll see is 6-8 cpg. I called and talked to FleetOne about that. I have had a carrier offer me a ComData card so they could pay me off that and so I could also get their company discount on fuel. I asked what their rate was. 7-9 cpg. uh, ok. But there was a $15 processing fee for every payment they made to me plus the quickpay discount of 5%. Thanks, just send me the check. 5% discount in 5 days. Sometimes I take the quickpay, other times I don't. Depends on how bad I need the cashflow. I should note, that $2.11 also reflects AFTER the discount is paid too. Pretty much in the order I found you need to complete them in to get your authority.
I use Quicken Home & Business for all my invoicing and financial process. Don't need anything fancier. I have spreadsheets that I use for tracking my IFTA miles/fuel and it takes me all of 15 minutes at the end of the quarter to file my IFTA. I have another spreadsheet set-up for tracking the loads I do and how much I make and the miles driven to do those loads. When I find my actual "$2.11 per mile" though, that comes from the miles off the IFTA sheet for the month/quarter/year and from the Profit and Loss statement showing my income for the same period. |
Thanks MN,
Progressive-$18k complete, truck and reefer with $250k cargo. That is $350/week vs my leased on $65/week. Got some weighing to do and more quoting.... |
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Check with lancer. That's double my rate. Welcome to Lancer Insurance Company! |
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