Have you been leasing your trucks from a motor carrier all this time? If you wish to scale your business and build a brand from the ground up, consider getting your own operating authority. Stop hauling goods under another trucking company!
To get an operating authority, register your business as a legal entity, apply for a U.S. Department of Transportation USDOT number, request a motor carrier number, designate your processing agent, sign up for the necessary insurance, then fulfill the Unified Carrier Registration (UCR). Afterward, paste your USDOT and legal name on your truck signage.
Do you find yourself on the fence about applying for your own authority? While driving under the authority of a third-party trucking company seems convenient, it offers minimal room for growth. On the other hand, hauling under your own authority enables you to:
Operating under your own authority gives you total control over your trucking business, but note that becoming an owner-operator comes with several responsibilities. Your daily duties no longer consist of hauling and driving. Instead, you also function as your trucking company’s CEO, maintenance manager, dispatcher, accountant, and HR director.
To ensure that you scale your business correctly, we suggest expanding your recruitment efforts and hiring more employees. Do not treat your business as a one-person team. Use your extra funds to scout talented professionals who will help your business reach new heights.
Are you having trouble mapping out an insurance policy to protect you during long-distance hauls? Assured Standard can help! Check out our in-depth piece explaining the owner-operator insurance needs of long-haul truckers.
Ora Price is a licensed insurance producer. Since she majored in Finance at the University of San Diego, she knows how to deal with both clients and insurance providers alike.