I tend to believe that most people would like to some-day, own their very own business, where they are the boss and they have the final say in their own financial future. However, the fact is that most people don’t actually believe, for various reasons, that they are capable enough to actually start and run their own company.
It is true, running your own company can be more time consuming, a little more complicated and at times, a bit frustrating. However, the benefits from operating as an independent operator far exceed and outweigh any potential hurdles that someone might go through, which is exactly why more and more people are minimizing their risk and venturing into that unknown territory and finding companies like Federal Carrier Compliance Registration to assist them with all of their legal filings and compliance requirements. A company like Federal Carrier Compliance Registration will file and register all the complicated filings for someone, such as filing for the independent operator’s USDOT Number, LLC filing in their state, EIN# with the I.R.S., Intrastate Authorities for those operating in states that require such, Public Utility filings that are required in specific states along with specific regulation requirements that differentiate from one driver to the next depending on which state they’re operating out of and if they’re crossing state lines and if they’re for hire. These requirements are known as compliance mandates set forth by the D.O.T. and F.M.C.S.A. such as;
Driver Qualification Files, USDOT Drug & Alcohol Testing, Motor Carrier Authorities, BOC-3 Filings, Unified Carrier Registration, Supervisor Training, the list goes on.
Most new USDOT applicants are thrilled to be able to find a company that performs such services and relatively cheap, especially when compared to most “Consulting” firms that have a professional organization with a dedicated agent at your side, walking the average USDOT applicant through all of these stages and semi-complicated steps. But to have someone perform that service for someone new to the industry is so absolutely essential and will truly make all of the difference in that individual’s experience.
What most people don’t realize when first starting out, is that when it comes to filing a Motor Carrier Authority, you need to have the specific insurance for the F.M.C.S.A. to grant Authority in a 21-24 day timeframe after the USDOT Number was filed. If the necessary steps aren’t taken in the specific order that they’re needed to be done, it could drastically change the outcome and cause a multitude of issues, not to mention if you’re filed wrong, an applicant can sometimes pay for thousands of dollars of insurance each month that isn’t even necessary, we’ve seen it happen plenty of times. Feder Carrier Compliance Registration makes sure there is no wasted time or money.
When it comes to deciding whether or not one should leave the company that they’ve been operating with 1,2,3 years plus, to venture out and operate as an independent operator, they must consider a few things and probably conduct some thorough planning prior to making the change to an independent operator.
Here are some of the pros to running your own company;
First of all, you decide when to work, if there’s an event that you would like to take off for, you’re able to do so. There’s also the fact that you’ll make 3 to 6 times on average more for doing the same exact thing, driving truck. Also, there is the freedom of creative control, if you feel like things could possibly be done better or just done in a way that you enjoy the job more. You can hire others to work and drive for you so you won’t have to be gone as much, but yet are still making an income. Really, when it comes down to it, there’s lots of reason why someone would want to operate independently.
Now, here are a few of the cons of running your own company;
Whenever something breaks, you have to be able to cover the expense of fixing it or you won’t be able to operate. Managing all of the extra requirements, compliance and state and government requirements. Having everything really rests upon your shoulders.
When thinking about some of the cons.. If someone could mitigate some of the risk, as in having a company like Federal Carrier Compliance Registration, that takes away all of the extra frustration with the state and government compliance requirements, along with the risk and confusion regarding what one needs and doesn’t need to have. Not to mention that everything already does really rely upon one’s shoulders anyway.
So, when someone really thinks about it, when you choose to operate independently, you can make a lot more money and end up with pretty much all of the benefits. I believe an applicant said it like this, “I much rather have the problems associated with running your own truck than have the problems running someone else’s and not be able to reap any of the benefits.” All and all you’re going to have ups and downs regardless no matter what you do and most of Federal Carrier’s clients will say that it was worth it and others will say that it’s not for everyone, but whether or not someone should up and quit their job, well I guess that’ll be up to them to decide, “Is it worth it.”Read More Posts