Advise Needed on Becoming Asset Based/What Would Make Trucks Contract Under Brokerage

Feb 14, 2017 at 09:56 AM CST + 3
Posted by a private BulkLoads.com member.	Posted by a private BulkLoads.com member. I am a Broker and husband is a trucker, part of why our family business is fair on rates. We are entertaining the idea of going asset based but will not be in a position to buy trucks for about a year and prefer not to lease. We do have some carriers who are willing to contract with our company. Would them contracting with us allow us to become a carrier and go asset based? 5 of the same are owner operators with one to 50 trucks available. Wondering if any asset based brokers can share some insight or "friendly" advise and question for carriers and owner operators out there, would most carriers and owner operators prefer to work under a contract basis at brokerage for steady loads or not. If not, what would make the concept more interesting if brokerage offered? Just trying to see what I need to offer trucks to join me. We have some government contracts so for carriers or owner operators who are punctual and reliable, this is a win-win for us both and why I desire steady trucks vs looking for trucks daily. Just looking for insight. Thanks.

Replied on Wed, Feb 15, 2017 at 12:24 PM CST
Posted by a private BulkLoads.com member.	Posted by a private BulkLoads.com member. if you work with tankers call me. 814- 490- 5187. email [email protected]

Replied on Wed, Feb 15, 2017 at 01:53 PM CST
Posted by a private BulkLoads.com member.	Posted by a private BulkLoads.com member. If you deal with Liquid Bulk Hz./NonHz call us At Liquid Logistics Entp. 281-414-8275 Or visit or web Ste www.LiquidLogisticsEntprise.com

Replied on Wed, Feb 15, 2017 at 05:14 PM CST
Posted by a private BulkLoads.com member.	Posted by a private BulkLoads.com member. We have work with many brokers on loads in our lanes on loads that we have come on a agreement on rate. They call us on the loads for the week and we just take care of the customer. Call me 270-250-5030 or email me [email protected] on what loads you have and we'll look to help

Replied on Thu, Feb 16, 2017 at 08:51 AM CST
Posted by a private BulkLoads.com member.	Posted by a private BulkLoads.com member. To get operating authority for a truck, you have to have insurance on said truck. I don't know how you do that without a truck. I do know a guy in FL that doesn't own a truck, but has o/o's leased on. So I would guess that you would need an operator willing to let you use his truck for you to file insurance with. I would call OOIDA for that one. Also you do not want the same MC# for truck and broker side. No insurance company will write that policy. So you will need a new MC# for the carrier side of you operation. That presents a new problem, as new registrants are having a hard time getting insured. Rates are starting at $10,000 per truck or more. I've heard as much as $16,000 per truck. Better to get a good group of o/o's to work with IMO

Replied on Thu, Feb 16, 2017 at 08:51 AM CST

Posted by a private BulkLoads.com member.

To get operating authority for a truck, you have to have insurance on said truck. I don't know how you do that without a truck. I do know a guy in FL that doesn't own a truck, but has o/o's leased on. So I would guess that you would need an operator willing to let you use his truck for you to file insurance with. I would call OOIDA for that one. Also you do not want the same MC# for truck and broker side. No insurance company will write that policy. So you will need a new MC# for the carrier side of you operation. That presents a new problem, as new registrants are having a hard time getting insured. Rates are starting at $10,000 per truck or more. I've heard as much as $16,000 per truck. Better to get a good group of o/o's to work with IMO

Replied on Fri, Feb 17, 2017 at 08:09 AM CST
Posted by a private BulkLoads.com member.	Posted by a private BulkLoads.com member. Quote: "To get operating authority for a truck, you have to have insurance on said truck. I don't know how you do that without a truck. I do know a guy in FL that doesn't own a truck, but has o/o's leased on. So I would guess that you would need an operator willing to let you use his truck for you to file insurance with. I would call OOIDA for that one. Also you do not want the same MC# for truck and broker side. No insurance company will write that policy. So you will need a new MC# for the carrier side of you operation. That presents a new problem, as new registrants are having a hard time getting insured. Rates are starting at $10,000 per truck or more. I've heard as much as $16,000 per truck. Better to get a good group of o/o's to work with IMO" Thanks. I actually had someone from Regional DOT who called back and answered some questions. You are correct, some asset based brokers do not own a single truck and he says quite a few have an operator or two who allowed the broker to use the truck for insurance purposes and even some OO will do this and contract with the Broker and get a split of profits and it works out. He did say exactly what you said also about a separate MC# and sent me the application I needed. He said approvals are not always easy but not impossible either. I currently have quite a few OO willing to dedicate their trucks solely to me under a six month to year contract as long as I have them on the road a minimum of two days and can meet their agreed minimum mileage rate so perhaps that is not a bad deal and 2 have said they would lease the company their truck for well....it is so cheap monthly I am embarrassed to say as long as they drive their trucks. Right now my solid shippers have better paying loads for asset based to where it would work best for me and God knows I am tired of the daily carrier chase were if I had dedicated trucks it would not be so tough. Thanks for the feedback so much!

Replied on Fri, Feb 17, 2017 at 08:09 AM CST

Posted by a private BulkLoads.com member.

Quote: "To get operating authority for a truck, you have to have insurance on said truck. I don't know how you do that without a truck. I do know a guy in FL that doesn't own a truck, but has o/o's leased on. So I would guess that you would need an operator willing to let you use his truck for you to file insurance with. I would call OOIDA for that one. Also you do not want the same MC# for truck and broker side. No insurance company will write that policy. So you will need a new MC# for the carrier side of you operation. That presents a new problem, as new registrants are having a hard time getting insured. Rates are starting at $10,000 per truck or more. I've heard as much as $16,000 per truck. Better to get a good group of o/o's to work with IMO"

Thanks. I actually had someone from Regional DOT who called back and answered some questions. You are correct, some asset based brokers do not own a single truck and he says quite a few have an operator or two who allowed the broker to use the truck for insurance purposes and even some OO will do this and contract with the Broker and get a split of profits and it works out. He did say exactly what you said also about a separate MC# and sent me the application I needed. He said approvals are not always easy but not impossible either. I currently have quite a few OO willing to dedicate their trucks solely to me under a six month to year contract as long as I have them on the road a minimum of two days and can meet their agreed minimum mileage rate so perhaps that is not a bad deal and 2 have said they would lease the company their truck for well....it is so cheap monthly I am embarrassed to say as long as they drive their trucks. Right now my solid shippers have better paying loads for asset based to where it would work best for me and God knows I am tired of the daily carrier chase were if I had dedicated trucks it would not be so tough. Thanks for the feedback so much!

Replied on Fri, Feb 17, 2017 at 08:10 AM CST
Posted by a private BulkLoads.com member.	Posted by a private BulkLoads.com member. Quote: "if you work with tankers call me. 814- 490- 5187. email [email protected] " I will be in contact.

Replied on Fri, Feb 17, 2017 at 08:11 AM CST
Posted by a private BulkLoads.com member.	Posted by a private BulkLoads.com member. Quote: "If you deal with Liquid Bulk Hz./NonHz call us At Liquid Logistics Entp. 281-414-8275 Or visit or web Ste www.LiquidLogisticsEntprise.com" I will be in touch. Looks like you are in my area. (Houston) Are you an actual tanker company or broker? If tanker, ugh could have used you for a load today. :(

Replied on Fri, Feb 17, 2017 at 08:12 AM CST
Posted by a private BulkLoads.com member.	Posted by a private BulkLoads.com member. Quote: "We have work with many brokers on loads in our lanes on loads that we have come on a agreement on rate. They call us on the loads for the week and we just take care of the customer. Call me 270-250-5030 or email me [email protected] on what loads you have and we'll look to help" I will be in touch. Thank you.

Replied on Fri, Feb 17, 2017 at 10:00 AM CST
Posted by a private BulkLoads.com member.	Posted by a private BulkLoads.com member. I am an asset based carrier out of e. Tx If u would like to call my # is 903 -439-8556. I also have a 2016 LBT tank for sale 9500 gal open with baffles.

Replied on Fri, Feb 17, 2017 at 05:43 PM CST
Posted by a private BulkLoads.com member.	Posted by a private BulkLoads.com member. i've been intersted in getting into liquid tanks. can you send me some more info on what your wanting and needing. [email protected]

Replied on Sat, Feb 18, 2017 at 08:58 AM CST
Posted by a private BulkLoads.com member.	Posted by a private BulkLoads.com member. We run tankers and are in Texas often. Please call me at (815) 405-8970 if you are looking for help. Thank you

Replied on Sat, Feb 18, 2017 at 11:08 AM CST
Posted by a private BulkLoads.com member.	Posted by a private BulkLoads.com member. What lanes do u have. We have reefers and tanks. We are located in nabb in. That's 35 miles north east of Louisville ky. My number is 812 498-5572 Gary Goode trucking