Category: Getting my MC authority

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.

What is MC authority?

Howdy! So the first step to becoming an owner operator is to get your MC authority. What is that you may ask? Good questions. MC stands for Motor Carrier. That is me, the trucker. The government agency that oversees truck drivers and carriers is the FMCSA. Now that’s a big acronym. It stands for Federal Motor Carrier Safety Administration.

MC Authority is your permission to haul freight for others (your shippers) for profit. This is to ensure that you are complying with all laws and regulations. It’s actually pretty easy to register. It’s all done online nowadays through the FMCSA website. The fees aren’t too bad either. $300 to become a registered carrier.

I’ve heard that the application isn’t too difficult, and actually isn’t too long. Regardless, I made sure to set aside a couple hours to do it. I was pleasantly surprised though. It actually only took me about a half hour to do it! I can imagine it was much harder in the old days when you had to fill out the paperwork by hand. Yuck.

Anyway, now I just need to wait. In a few weeks I’ll get a letter telling me that I have been “approved”. I say that in quotes, because it doesn’t mean all is done. After that happens, My name and information gets published in a register on the FMCSA website. This is for 14 days I believe, and the reason for this is to make records public so anyone that may have an issue with me getting MC authority can speak up. This is due to many scammers and shady folks going around causing trouble, then just registering another MC # and doing it over and over again. This way, people can recognize your name and possible submit an objection to getting your authority.

So that’s that. I actually applied about 16 days ago now, so I should get the letter any day. For now, thanks for reading!

 

Getting settled in

Getting settled in

So here it is, my first post. Let me tell you a bit more about myself.

My name is Jared Parkings and I have been a company driver for 10 years now. I mainly hauled reefer freight, but I did some flatbed a years ago. Refrigerated is definitely my favorite.

I decided its time to go OO (owner operator). I want the freedom to haul my own freight. Where I want. When I want. Oh, and I want to make more money too!

Its a long process to get started as an owner operator. I have some downtime on my Sunday afternoon, so I took that time to finally get this blog started.¬† That’s it for now. Enjoy!