Should I Lease On To An Existing Carrier
Here are tips so you can make the best decision for your future!
Today’s topic is about leasing on to existing carriers and why this may be an option for you as a new owner-operator ready to move freight!
When leasing your services to a carrier, Real Truckers wants to remind the trucking community that you are their customer, not an employee, and the carrier you choose to work with is completely up to you.
In general, once you have chosen the carrier you want to work with, you will need to complete the application process and go through an orientation with the company.
Once you have made the decision and went through the hiring process for the carrier you choose, you can be on the road in as little as three days, but some carriers take up to two weeks to clear new truckers.
Please remember, before leasing on to being a carrier, you must first be an owner-operator, which can take up to 45 days. Our blog the “Four Steps to Becoming an Owner Operator” can help you get started reaching your business owner goals, but we listed a few things you need to do below.
You will have some minor filing fees of about $400 to become an owner-operator and during the 20-30 day review period, you will need to secure insurance, get your trucks equipped, learn about the rules of the road and look into what markets you want to operate in.
Insurance can cost between $7,500 to $10,000 out of pocket.
In addition to the $10,000 you will need to get started with your insurance, you can plan on missing out on about $8,000 in net revenue while you wait on your authority to go active.
With the help of Real Truckers, we can help you plan properly so you can keep working so you can keep this loss as low as possible.
Your trucks will also need to be equipped with your new company name, so start thinking about your new name soon.