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.
     
  3. 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,
     
  4. Turtle
    Approved

    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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  5. 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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