Got my authority, what’s next?

Well I’ve got some great news! My authority came in yesterday. I’ve been busy getting everything together, so I haven’t been able to update. Now I’m the the waiting period. My information is published in the FMCSA register for 14 days, and if no one objects to me having authority (I don’t think anyone will!) then I’ll be good to go. I also need to take care of my form MCS-90. This is sort of an insurance form that sounds confusing, but it’s not too bad. I used this form MCS-90 guide to help me do it.

That means I have to hustle to find a truck, and I have been. I’ve narrowed it down to two peterbilts, and I am going to take a look at one of them for a second time tomorrow. After that, I’ll make a decision by the weekend. Hopefully it only takes a week or two to actually get the truck, and that should work out well. After that, it’s off to the races.

So what else is required?

I need to do a few more things before I’m actually up and running. They are:

  • Get a trailer!
  • Figure out the financials (factoring company)
  • Get setup on the loadboards
  • Call a few brokers and see if they’ll set me up ahead of time so I’m ready to go.

I’ll go over them all.

Getting a trailer

This shouldn’t be too difficult. There is a dealer in town that has about a dozen used reefer trailers available. most of them are in the condition and price range that I am looking for, so I have plenty of selection. I’m planning on paying cash for it, because the bank gave me a better financing rate on the truck than they would have on the trailer. It only made sense.

Financials

I’m in the process of figuring out the financials. I should be set up with a factoring company by the end of today, I’m going to write more about it later. If you don’t know what factoring is, check out that article. It’s a pretty interesting service.

loadboards

I’ll need help finding freight! That’s where the loadboards come in play. I’m going to start with DAT, just because I like their user interface. The other big one is truckstop, but most brokers are on both. I’ll evaluate later on if I think it’s worth it so sign up for both.

Brokers

The best situation would be to have some good relationships with brokers that have high paying freight for me to haul. Most of the good stuff never makes it to the loadboards. Some are hesitant to work with new carriers, but I have a few connections and relationships that I am going to reach out to. Ideally I’d like to get to the point where I don’t even need a loadboard subscription!

That’s it for now. I’m off to work more on securing the right factoring company. Check later for that story.

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