There may come a time in a long haul trucker's life where he wants to leave the the simplicity of being a company driver, and to enter the exciting world of being an independent contractor. While a company employed driver is assured his miles and loads, pay and benefits, an independent contractor is his own business entity, whether incorporated as a Limited Liability Company, or doing business under his own name (Kostas, 2012). The first step in him becoming an independent contractor, in this case, is procuring commercial equipment adequate to his needs. This in and of itself is a difficult step, an obstacle to financial freedom, as attaining the necessary equipment can be a daunting task. Whether he decides to locate a lender, buy from a …show more content…
Much of their stock may have mechanical deficiencies. With the driver responsible for the mechanical maintenance and upkeep on his equipment, this may ultimately become cost-prohibitive over time, leaving him with difficulty in making his payments, be they weekly or monthly. Additionally, due to the in-house financing option, the interest may be very high, or the down payment required might be beyond what the driver is capable of producing.
Some drivers prefer to simply rent their equipment. Leasing equipment might be a good option for a driver, when he has no money saved for a down payment (Barabas, n.d.). Leasing equipment can be done directly through a major carrier, if it offers a program, or through a third party leasing company. Participating in a lease program is a decent way for him begin a carrier as an independent contractor, though there are a few shortcomings which may limit his success or true independence. First of all, he won't be gaining any equity in the equipment he pays for and maintains on his own dime. While leasing through a carrier, he may have access to benefits offered by the carrier, such as fuel discounts, maintenance funds, freight networks, and the like, he is still beholden to the carrier. The truck still belongs to the carrier, and he doesn't have the freedom to just up and leave with the equipment if he isn't satisfied with the company.
I remember it like it happened yesterday. It was a warm sunny day on October 27 2013, and we were driving to my sister Amy’s house in Kaukauna. We had to drop off a set of bunk beds at her house for my niece Mia. My dad, mom, my sister Anna, and I were all in one car, while my two brothers, Andrew and David, were in the Ford Ranger ahead of us. We were having fun in the car, talking, laughing and listening to music, until we came up on a yield sign. My brother Andrew proceeded through it first, when a black Envoy came speeding around the corner, too fast to slow down. When Andrew saw it coming he tried to swerve, but the car was going too fast, and it was too late. The car hit the truck,
Another great reason to enter into this career path is flexibility of the job. Certain trucking companies give the workers a flexible schedule to work with and around. Most trucking companies give
Every business in the trucking are turning more and more trucking company owners are turning to a new form of finance – transportation factoring. Owners of trucking and transportation companies of all shapes and sizes trust invoice factoring because it is not alone, and so it won’t dilute equity anyway. Furthermore, customers know that when you factor invoices it helps you maintain positive cash acceleration growth as mentioned above, which shows that you care about building and deepening your business relationships with those customers. This is why transportation factoring is becoming more and more popular among US trucking owners and why it’s becoming a mainstream financial strategy.
Over-the-road, or long-haul, truck drivers carry merchandise over state lines. In some cases, these drivers travel a consistent route, but others may work a variety of routes all over the country. Some commercial drivers specialize in carrying uncommon cargo, such as hazardous materials or cars. According to the U.S. Bureau of Labor Statistics (BLS), jobs for drivers of heavy and tractor-trailer trucks (including commercial trucks) were projected to increase 11% during the 2012-2022 decade. In May 2013, the BLS noted that the median annual salary for the field was $38,700. Commercial truck drivers must obtain a commercial driver's license to operate vehicles over 26,001 pounds of gross vehicle weight, according to the U.S. Department of Transportation's Federal Motor Carrier Safety Administration (www.fmcsa.dot.gov). Drivers of vehicles transporting hazardous materials or oversized cargo must also obtain special endorsements and a commercial driver's license (CDL) in their home state. The hazardous materials endorsement involves a knowledge test as well as a TSA (Transportation Security Administration) threat
The book is named The Car by Gary Paulsen. I’m going to talk about three thing one is what I talked about last time and the second is what’s going on right now and the last is what has changed since last time.
Truck driving is very demanding because of the long periods spent away from home and the constant driving for a long time. Also some drivers have to load and unload their cargo. The ATA states that, “Working as a long-haul truck driver is a major lifestyle choice because these drivers can be away from home for days or weeks at a time. They spend much of this time alone. (American Trucking Association)” These truck driver’s lives are not easy. They spend most of their time on the road and alone and most of the time when they reach their destination, they have to unload what is in the trailer. The NAPFTDS says that, “All graduates must be able to demonstrate that they meet federal, state, and local standards as required for professional truck
A truck driver does a lot of things he has to pay attention to the road and his surroundings. It takes a lot of concretion to drive the Twenty-six thousand pounds plus truck. You work all hours of the day and night and you spend all your time on the road. Every day is the same, but sometimes a different load and new dangers. You spend most of the time in the cab of the truck without any company.
Our company TNT Auto Sales Inc. implements a new approach to used car sales. It only begins with the quality and reliability of the cars we sell. Considering the professionalism and customer service experience of the founders, along with the financial training and background, the company is looking forward to flourishing business and ever growing loyal clientele base. The owner, Teneille Norville, has several years of personal experience with buying and selling used vehicles as a hobby and additional income. Since the number of customers and sales volume have significantly grown recently, it is necessary to take the next step and establish an official business in order to continue the expansion.
I approached the vehicle and asked MD why she was driving without someone 21 years of age in the vehicle and she informed me that she just wanted to hang out with friends and watch the fireworks. I asked MD if anyone in the vehicle had consumed alcohol and she told me no.
Big Rig" insurance is essential for the independent owner/operator. In today's highly competitive commercial trucking industry, an owner/operator has to be a shrewd businessman, and get the best insurance for the lowest premium.
It's Friday, March 25 in the morning at about 7:00 am when my mom wakes all of us up to get ready to leave. On the way to Minnesota we were driving, but still in suamico, we stopped at a Kwik Trip gas station to fill up the tank. We all were thirsty so we got a water from the cooler in the back of the truck, but my brother Roy spilled his all over himself and on the seats.”Good thing it's just water.” My mom said. As we drove across the imaginary line splitting Wisconsin with Minnesota there was a big rock carved into the shape of Minnesota that said, “Welcome To Minnesota.” When we were on the highway we almost got into two major accidents, the first one was when we had an open lane ahead the driver to the right of us tried coming into our lane right next to us and put our left two tires
Companies need to understand who they are putting on the road with their equipment and supplies on their behalf. Driving behaviors and personal leisure are essential to valid and comprehensive allegations when it comes to hiring and attaining a driver (i.e. hire a driver that is a professional in spirit).
Trucking companies of all sizes are required, by state and federal laws, to comply with certain regulations and legislation regarding their operations. Compliance issues range from obtaining permits to conduct business within any given jurisdiction to employee pre-screening to recordkeeping. To say the least, there are a plethora of line items that must be met in order to be fully compliant. That's why many companies rely upon a national compliance management service to help them. If your company is considering outsourcing this aspect of your business, keep these three things three things in mind.
When you buy a truck or any car for that matter you need to maintain the truck. When you buy a truck it is much harder to maintain due to the additive amount of extra work you have to do. A truck is typically used for physical labor. This causes more wear and tear on the truck i.e. the bed of the truck and the undercarriage. Maintenance on truck is a lot more that it seems
The automobile has had a tremendous impact on society and the environment since its development in the beginning of the 20th century. Today, there are over 500 million motor vehicles on the earth. The automobile's efficiency, style, and performance have changed over the years, but there is one thing that has not - the pollution the automobile generates. Because of the pollution, people find themselves asking whether this technology has helped our society or hurt it. Should the consequences of the automobile be cause to eliminate it? Or should science develop technology to eliminate the pollution caused by the car?