Did you know that the US trucking industry generated over $700 million in one recent year?
The trucking industry is one of the largest industries in the USA and supports the backbone of the economy.
If you are a truck owner, have you thought about getting work independently? How can you get operating authority and start-up as an independent trucker?
Why not read out to find out how you can get a greater share of the trucking market?
Brand Your Business
The first step that you will take on your journey to getting your operating authority certificate is perhaps the simplest. You need to choose a name. On the basis of this name, you can apply for your authority to operate.
Your name will actually be more important than you think. You will build a brand based on this name, so maybe choose something catchy.
You will also need a name to arrange for other details, like insurance. If you are interested in learning more about the process and getting information about insurance, you can learn more here.
Apply for a U.S. Department of Transportation (USDOT) number
Your USDOT is a unique number that the government will use to track your truck during audits and other inspections. It is not difficult to apply to USDOT for this registration.
You may want to check to see if a USDOT number is necessary for your state. Although they are necessary for most states, a minority do not require dot operating authority.
Employer Identification Number (EIN)
In order to have owner-operator authority, you will also need a Federal Tax Identification Number. This is also used to track your trucking business. While you may be able to start out as a trucker without one, when preparing your taxes, you will be glad that you received one.
Get a Motor Carrier Number (MC Number)
The third number that you will need is a Motor Carrier Number (MC). This will dictate what type of trucking you will perform.
At this stage, you may need to declare what type of materials you plan to carry and whether you will take them across state borders. This information and your MC number will also affect your insurance premium.
Financing
If you have asked the question “how do I get my own operating authority?” you now have the answer. However, we do have one more recommendation.
Many truck companies do not receive payment for their work for 30 days following completion of the move. At the beginning of your independent trucking career, this can leave you in debt.
Avoid this by planning your finances ahead of time and even working with a freight factoring company to fund your initial months.
How to Get Operating Authority and Much More
If you are interested in starting out on your own as an independent truck driver, you will need to apply for and receive operating authority. By following the steps that we have discussed today, you can do this in the shortest time and get trucking on your own as soon as possible.
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