Starting soon......all input wanted

skyraider

Veteran Expediter
US Navy
If I was to get back into expediting, I would drive for someone else....it would be easier IMHO....with a ss check coming in and some more stuff, it would be no pressure and I would be more relaxed....yep its better to have a nest egg working for you....but Im spoiled now, bicycling sounds better...………………...…...
 

danthewolf00

Veteran Expediter
Your basically trying to reinvent the wheel here with starting your own expedite company. I understand your probability tired of that cubicle and 4 monitors but your bills are paid and you have money saved up.....why risk all that????
 
  • Like
Reactions: blackpup and piper1

skyraider

Veteran Expediter
US Navy
Your basically trying to reinvent the wheel here with starting your own expedite company. I understand your probability tired of that cubicle and 4 monitors but your bills are paid and you have money saved up.....why risk all that????
Great answer,
 

NYExpedite

New Recruit
Your basically trying to reinvent the wheel here with starting your own expedite company. I understand your probability tired of that cubicle and 4 monitors but your bills are paid and you have money saved up.....why risk all that????
So im supposed to just never start my own company? I went to business and supply chain school so I could do this exact thing. I mean I get the risks involved. If it failed, it would be easy to sell off my business assets pay the loan off and go back to a desk job.
 

brokcanadian

Veteran Expediter
Owner/Operator
So im supposed to just never start my own company? I went to business and supply chain school so I could do this exact thing. I mean I get the risks involved. If it failed, it would be easy to sell off my business assets pay the loan off and go back to a desk job.
Well, you seem to know the worst that could happen. People are just trying to say it likely will.

So in other words, if you think it's a slam-dunk start. That is, when you find a source of freight

There's one guy on here that simply found a bunch of drivers that take low pay and live in their vans, and he makes a good living

Sent from my SM-A705W using Tapatalk
 
  • Like
Reactions: dalscott

Turtle

Administrator
Staff member
Retired Expediter
Do keep in mind the title of this thread.... "all input wanted" with the emphasis on all.
 

NYExpedite

New Recruit
Do keep in mind the title of this thread.... "all input wanted" with the emphasis on all.
I know, and I do greatly appreciate it all. I know it will be tough, but I know about what amount of gross monthly income I would need to net the same that I am making now after everything is paid for. My wife has a good job too, and the way it stands we could 100% afford to live off of one of our incomes if needed. I get the loan and worst case scenario I sell the van to pay back most of it, and then just get another job, I have a lot of experience in the field so I don't think finding a job would be a hard thing. Also, wasn't planning on starting this for maybe months. Until the rates go back to a more of a "normal" rate.
 

piper1

Veteran Expediter
Owner/Operator
..... Until the rates go back to a more of a "normal" rate.

I kinda smiled when I read that......that is the million dollar question for every single one of us now isn't it.....when does "normal" return? Normal rates, normal amounts of deadhead, normal load counts, normal fuel surcharges?

I feel a bit better about your chances now that you said you weren't starting right away.
 

NYExpedite

New Recruit
I kinda smiled when I read that......that is the million dollar question for every single one of us now isn't it.....when does "normal" return? Normal rates, normal amounts of deadhead, normal load counts, normal fuel surcharges?

I feel a bit better about your chances now that you said you weren't starting right away.
Yeah, definitely not. I'm thinking minimum of 6 months before I fully start. At least start driving, i can go ahead and form the company and MC and everything and then get the van and everything down the road
 

Treadmill

Veteran Expediter
Owner/Operator
Yeah, definitely not. I'm thinking minimum of 6 months before I fully start. At least start driving, i can go ahead and form the company and MC and everything and then get the van and everything down the road
In order to get your MC you have to have the vehicle and have the insurance inplace.
 

NYExpedite

New Recruit
In order to get your MC you have to have the vehicle and have the insurance inplace.

Yes, i knew that, i misspoke. i can go ahead and just form the company now, and get the insurance and MC down the road. If im running as an owner op for another company generally we run under their insurance right since its their mc?
 

RoadTime

Veteran Expediter
Owner/Operator
I kinda smiled when I read that......that is the million dollar question for every single one of us now isn't it.....when does "normal" return? Normal rates, normal amounts of deadhead, normal load counts, normal fuel surcharges?

I feel a bit better about your chances now that you said you weren't starting right away.

I haven't seen "Normal" since 2012.
I'm sure it will happen soon :rolleyes:
 
  • Like
Reactions: piper1

Treadmill

Veteran Expediter
Owner/Operator
Yes, i knew that, i misspoke. i can go ahead and just form the company now, and get the insurance and MC down the road. If im running as an owner op for another company generally we run under their insurance right since its their mc?
Yes that is correct. Now saying that most small companies will not have their own fleet ins. but the larger ones will.
 

NYExpedite

New Recruit
Yes that is correct. Now saying that most small companies will not have their own fleet ins. but the larger ones will.
Awesome, thank you for the info.

I have some money saved up to contribute to the business, but im thinking i will be able to do even better and not have to be gone for weeks at a time if i can just buy the van outright or at least 60% of it. As it stands im including about $450 a month in loan payments, if i can get that down to around $150, i think i would be able to be out significantly less time while still being profitable
 

danthewolf00

Veteran Expediter
Oh your in for a world of hurt.....get either a under 10k box van or a ford transit.
If you do go used go have a good mechanic go over that van with a extra fine tooth comb....fyi have the driveshaft looked at hard along with wheel bearings.
Get u-joints and wheel bearings that can be greased. Better yet any moving joint that you can change out to one with a grease fitting will save you down the road. Even if you do this part time your looking at 50k miles a year or more.
 

blizzard2014

Veteran Expediter
Driver
But from what i know about sylectus, you have to have 5 vehicles in your fleet and maintain common authority for over a year.

Not something I can really utilize right away.

Let me ask you this, what kind of rates do companies give to expedite owner ops?
Then you will be bidding on hundreds of loads a day to barely get one load. It will take a long time, but a broker will be desperate and call you and that is where you have a chance to shine and gain your first contact. Usually shippers and brokers will not give you the good loads at first either. They have favorite carriers they have been working with for a long time (carriers they trust to get the loads delivered on time without any screw ups) and they award the load as soon as they see their preferred carrier. They will even award the load to a higher bid if they favor the carrier. A big percentage of loads never even get posted on Sylectus. A broker will do a carrier search for capacity and offer the load directly to a preferred companies driver. There are other load boards, but you first have to get your carrier insurance, DOT number, and let your authority age for 1 year before you can begin the even more daunting process of adding carriers. Plan on not even breaking even for the first year unless you drive for a carrier with one van and have your authority set up with insurance on another van. Then on the second year when you finally get on all of the load boards and start winning some bids, plan on breaking even. On the third year is when you might begin to see a profit. A lot of the successful smaller companies are owned by people who once worked for a larger carrier and they already have industry contacts.

I leave you with the famous words of my dear friend 60MPH. Just because you placed a bid on Sylectus, it does not mean your bid will be selected. lol
 
Top