The Importance of Reading Your Operating Agreement

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The operating agreement between a motor carrier and an independent contractor is the lifeblood of the relationship. At stake are many legal and regulatory issues; not to mention the mutual profitability of both parties. What is an Operating Agreement? In simple terms, the lease/contract defines the parties involved and what the obligations are of each party. […]

10 Steps to Becoming an Owner Operator

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For the last year, our Becoming an Owner Operator series aimed to help those interested in becoming an owner operator navigate the ins and outs of the trucking industry. Here are our 10 steps to becoming an owner operator: Step #1 Evaluate Your Personal Considerations Whether you’re an individual considering a career that allows you to […]

Becoming an Owner Operator: Invoice Factoring 101

Factoring Process Diagram

This week’s post aims to explain the benefit of factoring to an owner operator’s operation. Unfortunately, it only pertains to those who have chosen to operate under their own authority. However, it never hurts to take a read, especially if obtaining your own authority may be in your future. What is Factoring? According to the Business Dictionary, […]

Becoming an Owner Operator: Load Boards

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Last month’s Becoming an Owner Operator blog post explained the advantages and disadvantages of being on a master insurance policy. This week’s post will discuss load boards. Load Board Flashback. Before the new age of technology, load boards were physical screens found in truck stops. These screens displayed a seemingly endless scroll of available loads, along with […]

Becoming an Owner Operator: Trucking Insurance

Owner Operator Trucking Insurance Image

Last month’s Becoming an Owner Operator post discussed the advantages and disadvantages of leasing onto a motor carrier and driving under your own authority. This post will build off of last month’s by explaining how the way you choose to operate your trucking business determines which trucking insurance coverages you will need. Trucking Insurance: Leasing onto a […]

Becoming an Owner Operator: Leasing vs. Operating Authority

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To begin, there are two classifications of owner operators; those who are leased to a company and those who operate under their own authority. This post will discuss the differences between the two in an effort to help those of you just starting out determine what will work best for your lifestyle and financial situation. Leasing […]

Top 3 Questions on Bobtail/Non-Trucking Coverage

Bobtail Trucking Insurance Image

Oftentimes, trucking insurance is about as easy to comprehend as why the universe exists. It’s in place for some reason, and we are glad it is, but all the minute details get in the way of our proper understanding of it. In an effort to help those within the trucking industry better understand trucking insurance, we […]

Becoming an Owner Operator: Licensing & Registration

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As promised in last month’s Becoming an Owner Operator post on purchasing trucking equipment, we’re back this month to discuss licensing and registration. As mentioned in our March Becoming an Owner Operator post, driver’s are required to have certain licenses and endorsements just to drive a commercial vehicle. This post will build off of March’s foundation and discuss […]

Becoming an Owner Operator: Trucking Equipment

If you read last month’s post on financial considerations of becoming an owner operator, we assume you’re now trying to figure out how to buy–or afford–trucking equipment. Purchasing trucking equipment is arguably one of the most frustrating and exciting aspects of becoming an owner operator. Not only does one need to consider his or her […]

Becoming an Owner Operator: Financial Considerations

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You’ve taken into account the personal considerations (family, health, etc.) of becoming an owner operator and have obtained—or are on the way to obtaining—your commercial driver’s license (CDL). That means it’s time to tackle your finances and form a business plan that will ideally prevent you from going bankrupt within your first year on the road. Trucking Equipment […]