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Seeking info on forming my own authority.

Discussion in 'Business Tips and Taxes' started by RandyH, Aug 7, 2017.

  1. RandyH

    RandyH New Recruit Owner/Operator

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    I own a Promaster CV and am interested in going independant. I am currently signed on with a carrier (Panther). Would really appreciate info on what I need to set up my own authority. Both legal requirements and recommended additions.
    I'm also unsure of the difference between MC and DOT and which one (or both) that I would need.
    Personal experience advice is very welcome but would also appreciate resource links as I tend to analyze things to death before making a decision.
     
    Last edited: Aug 7, 2017
  2. fastman_1
    Arthritic

    fastman_1 Veteran Expediter Owner/Operator

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    Look up John Mueller, that's his wheel house here.


    Sent from lost in space.
     
    • JohnMueller

      JohnMueller Moderator Staff Member Motor Carrier Executive Safety & Compliance Carrier Management

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      Thanks for the referral Fastman. Hope all is going well for you. I am still working on my new company, and Authorities and Licensing will always be something I will do for customers. I have some really great ideas I am working on in the safety realm and will primarily focus on that. The Transportation Station should be open soon and we will have a couple of folks that are experienced in licensing and permitting on staff. www.trans-station.com
      Thanks,
       
    • Turtle
      Busy

      Turtle Administrator Staff Member Owner/Operator

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      As part of your analyzing things to death, don't forget to to analyze where your loads will be coming from, and how you're going to collect timely payments for them.
       
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    • JohnMueller

      JohnMueller Moderator Staff Member Motor Carrier Executive Safety & Compliance Carrier Management

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      Turtle is correct. Finding loads, billng and collecting your money are just small parts of a large equation. Over the years I have had many, many clients obtain their authority and have no clue as to all that is involved. I've also had many that were successful growing to a certain number of trucks - usually 15 or less - and then discover that the headaches did not compensate them adequately and returned to owning 1 truck and driving it themselves. Everyone has different levels of knowledge and skills. You need to know your strengths and weaknesses. Do what you are strong at and enjoy doing and realize that you should hire out the parts you don't understand or don't enjoy doing. Keep an open mind.
      Thanks,
       
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    • RDDM TRANSPORT
      Amused

      RDDM TRANSPORT Rookie Expediter Owner/Operator

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      Your authority will allow.You to run for more than one carrier or find your own loads. Which increases your load volume and pay.
       
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    • BigStickJr

      BigStickJr Veteran Expediter Retired Expediter

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      It will also increase your risks/costs.
      Do you have time and energy to Chase people that don't want to pay ? Handle your own claims?
      Be sure to pay yourself a nice dh when needed.
      And pay yourself for dry runs, even when the customer refuses to pay.
       
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    • Andyinchville1

      Andyinchville1 Active Expediter Owner/Operator

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      I have my own authority but it was because my carrier (well company that holds the contract I will help service) wanted me to as part of their requirements for being able to do the contract....

      Being that they had nearly a 30 page contract and info pkg on me and made me carry every insurance known to man (including a commercial umbrella !) I could or maybe should hunt for my own gigs directly from shippers but I'm going to start just letting them pimp for me until I get 5 trucks rolling (I have 3 now because they said they'd start me off with 2 but want me to go to 5 ASAP) then I may start looking around BUT it's hard when the big boys get contracts at the national / regional level.

      FWIW - the carrier is XPO...

      Andrew
       
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    • NorthernBill

      NorthernBill Veteran Expediter Owner/Operator

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      What size trucks are you running /partnering with XPO? Do you bid on each load or fixed rate?
      Thanks
       
    • Andyinchville1

      Andyinchville1 Active Expediter Owner/Operator

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      Hi,

      I am running (well hopefully running soon....it's "only" been about 2 months since the process started) 24 / 26 foot under CDL box trucks with liftgates.

      The contract is fixed rate (per stop) local work doing delivery work.

      In theory, their flat bed work (CDL required...fixed rate per stop) would have far less potential liability because box truck delivery involves inside delivery and set up (potential issues with bumping things, scratching floors, leaks if hooking up to water etc...) whereas the flat bed work is outside only.

      Andrew

      I
       
    • NorthernBill

      NorthernBill Veteran Expediter Owner/Operator

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      Thanks, sounds like part of there LTL operation. Best of luck to you!
       
    • RedBird

      RedBird Veteran Expediter Fleet Owner

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      RandyH,

      Send me a PM, and I'll answer your questions you're asking about, as I've just recently and currently going through the same process now as what your contemplating doing!

      Sent from my SAMSUNG-SM-G900A using EO Forums mobile app
       
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