Category: freight load board

Ready For a Change? Here’s How To Get Your Own Authority Right Now

Posted on December 18, 2019 by - factoring, freight load board, insurance premiums

We know 2019 hasn’t been very kind to trucking.

But right now might just be the perfect time to get your own authority.

For instance, freight prices are holding steady and used truck prices are low right now.

But if you’re looking to become an independent owner-operator, you’re going to need a lot more than just your own equipment. 

Here are all the things you’ll need to become an owner-operator truck driver that you probably hadn’t considered.

Truck Registration

You’re going to need a lot of registration to get your own authority. Here are two of the most important ones:

USDOT Number:

Issued by the FMCSA (Federal Motor Carrier Safety Administration), USDOT Numbers are required for vehicles that haul cargo or transport passengers interstate and that meet one or more of the following requirements:

  • Has a gross or combined weight of 10,001 lbs or more
  • Transports 8 or more passengers for compensation
  • Transports 15 or more passengers not for compensation
  • Transports hazardous materials.

The USDOT Number serves as your identification during inspections, compliance reviews and more.

MC Number: 

The MC Number serves as your interstate authority, or your right to travel between states. In addition to your USDOT Number, you may be required to obtain one or more types of authority through the FMCSA based upon your business and the type of cargo you carry.

The type of authority obtained will determine the type and level of insurance coverage needed.

For a full list of registration requirements, check out this blog.

Trucking insurance

That’s right. You’re going to be the one coughing up the premium for insurance. Not only is it important to protect yourself in case of an accident, but insurance is also required legally.

There are a number of different coverage options available, so be sure to do your research to find the right kind from the best provider.

Find a good load board

As an independent owner-operator, you’ve got to find business for yourself. Finding a solid load board where you can bid on profitable, convenient loads is very important.

Our top pick for a load board is DAT. They have a simple and easy to use marketplace where you can choose from over 235 million loads posted per year.

Factoring

Factoring can be a huge asset to small trucking operations. In many instances, final settlements from completed loads can take weeks or months to receive. 

Factoring companies help by giving you the money upfront and then bearing the responsibility of tracking down the settlement from your clients. This can help you keep the bills paid on time.

Use a good TMS

You need a centralized location where you can track all of your loads, expenses, and maintenance.

That’s where TruckLogics Trucking Management Software (TMS) comes in. With their web-based software, you can enter and track records from anywhere, even your cell phone.

Some of their great features include automated check calls, expense tracking, invoicing and billing, IFTA compliance, and business reports.

The best part is you can get a 15-day free trial. There’s no obligation and no credit card information required.

Introduction To Dealing With Freight Brokers

Posted on December 6, 2010 by - booking a freight load, dealing with freight brokers, express 2290, freight load board

Featured Blogger
Benjamin Bellville

Dealing with freight brokers as I covered in previous posts is an integral part of the freight logistics process, perhaps the most important if you will be getting the majority of your freight from freight load boards. This job goes hand in hand with customer relations and building your trucking companies image. In this introduction to dealing with freight brokers I will go over the basic attitude and approach you should have when booking a load.

When you make a call on a load that you find on a freight load board you will be entering into what is a business negotiation. Remember it is your business you do not have to agree to anything you feel is not in the best interest of your company. This is not a time to be weak, nor is it a time to be unreasonable. In every business deal there exists what I call the “Sweet Spot” of a deal. This is the spot where everyone involved makes their fair share of the money out there to be made on a load.

One of the main problems in this industry is that not many freight brokers or trucking companies believe in this theory,instead everyone is out to take the other side for every penny they can get. This more than anything is what creates the freight rate volatility that is synonymous with the trucking industry. Contrary to what you may have heard there are plenty of fair freight brokers out there to do business with.

When you are negotiating be upfront with the broker and let them know exactly what you need payed to haul the load for them (DO NOT just ask them what it pays, you start the bidding!) Just like in any negotiation start a little higher than what you could really do the load for, but be realistic. If you call and demand $3 a mile for every load you haul you will find yourself sitting around and going broke very quickly, it’s just not going to happen. Be willing to bend a little if you feel it is someone who you would want to do business with in the future.

You would be surprised that loyalty still does exist in the trucking industry though it is harder to find these days. By being flexible and respectful of good brokers you may eventually get on their go to list. This is when they will start calling you out of the blue to offer you their best paying freight because they know you are reliable and dependable and have done great work for them in the past. No one is going to just start feeding a new company the best freight they have as those are their more important customers that they need to be sure are serviced to the utmost standards. It took me in some cases 10-15 on time non damaged loads before I started getting higher paying freight more frequently with certain brokers.

Finally if a deal can’t be reached it’s important to remember that you may still be dealing with that particular freight broker again in the future. Make sure they remember you by always stating your name and your company name clearly. Be genuine and say things such as, “Sorry we could not reach a deal on this one, maybe we’ll get together in the future.” Because of using this approach I could go into my broker list and call any of them and to this day they would remember me, this is what you want to achieve.

Remember any part of a great business game plan includes doing business with people who have your success in mind, be sure to visit Express2290 and find out why they are the premier excise tax service around and what they can offer your company.