Just Starting

Elfire · Feb 20, 2017

Hey everybody. I'm new to the forum. My friend is told me about expediting with panther as an owner and leasing a van. I would much rather experience driving in owning because I find the work more satisfactory. However I have two small girls and a wife so I'm stuck owning.

I need to know how to START working with Panther (vehicle requirements, licenses, contracts...). And, how to MAINTAIN a relationship as a good owner (what is expected of me regularly).

Any information would be appreaciated very much as I'm very nervous to start my own business.

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xiggi · Feb 20, 2017

This isn't a good job for someone with young ones at home. That said it sounds like you need to call panther for most the answers you seek.

Grizzly · Feb 20, 2017

Sounds like you need to do more reading ... MUCH MORE! There's tons of information on this site. You need to invest the time & read it.
The van segment of the market is currently OVERsaturated. Entering under whatever conditions is far from guaranteed success. Proceed cautiously ..

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T270_Dreamin · Feb 20, 2017

All depends on what your weekly expectations of what you need to make per week is? Are you bringing on your own van or going to work for someone?

Elfire · Feb 20, 2017

I'll continue to hold my current job at a factory. I'll be an owner while a driver drives the van. I've found a 2008 dodge sprinter for a reasonable price. It has 169k miles and I'm going to have somebody with experience in the business take a look into it.

Here's what I know so far:
- the money is split 40/60 (owner 40) (driver 60)
- I understand deadhead is the drive from one location to another without a load and making little to no gas return. But drivers are reimbursed a portion of their gas per mile.
- Panther pays per mile based upon a variety of situations(team, straight truck vs cargo van vs sprinter, lift gate, hauling amount, bronze silver and gold status, 2 skid vs 3 skid vans.......)
- I understand how the board works, and how drivers are prioritized in order to get everyone work. (First outs, ect.)
- I understand that as the owner it will be my sole responsibility to maintain the vehicle as well as repair, put my driver into a nice hotel, and or pay the new driver to finish the expedite in the event that the van breaks down while on destination. (But couldn't I right these things off on my taxes as expenses)
- I understand that I'm suppose to report my taxes quarterly......
- I understand that it's my drivers responsibility to pay their own gas
- I understand it's my drivers responsibility to report their own income taxes quarterly. (And get some gas expense back if they've been tracking their miles driven).
- I understand that I'm not required to provide my driver with health care until I have a certain number of drivers???????? But I am required to provide my driver a form to apply for Obama care??????? (This needs research as I don't trust this information).
- I understand that the van MUST be in a reasonable comfortable condition, or else the driver can refuse the van altogether.
- I understand good owner behavior as "being involved". I hear a lot of owners just let Panther do everything and never communicate with their drivers. Which I find very stupid.
- I understand Panther reimburses tolls ect...

What im curious on is do I need a business license? What's an LLC and does it affect me now? Do I need to get pre inspections to know my van is in top shape? Where would one go for such inspections?

An I realize these are the type of questions for Panther. But I'm the type that would be happier prepared than surprised. Thanks for everybody's help.

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Elfire · Feb 20, 2017

Oh and to be perfectly honest if I get $100 for the whole month. That's $100 I am richer.

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Ragman · Feb 20, 2017

Advice...... quit your factory job, get in the van and learn the business from the inside before expecting somebody to drive for you.

FlyingVan · Feb 20, 2017

This is a recipe for disaster. Not having any experience in the business and putting a driver to work in your van does not sound good.

geo · Feb 20, 2017

depends on company 2008 might be to old put on with some companies, need to ask what requirements are for them as to age of unit

Treadmill · Feb 20, 2017

I have a 2012 Sprinter that I will sell to you. All the comforts of home.

geo · Feb 20, 2017

one more thing to think about , medical ins at you job now, how much it will cost to provide for you and your family
also you will need workmen's comp insurance for you or the driver and that ain't cheap

Elfire · Feb 20, 2017

Ragman. Normally you'd be right. I've offered the same advice to those that want to learn something. Putting your heart and time into something is definatly more rewarding than trying to rush something. But I'm not trying to rush anything. I'm fully prepared to wait months if not years to learn all I can. I'd prefer to start as soon as possible. However being the driver is not an option. My wife is very dependent, and my toddler is just as dependent. On top of that I just had a newborn who I'm not prepared to be away from for more that 12 hours. Even if it means scrapping the whole project.

FlyingVan thanks for the negative feed back. Very helpful and constructive. Thnx.

If I'm so doomed for success then is there another way to go about learning the business without me leaving my family? Maybe an online corse. Some instructional videos on YouTube? Anything? I've been researching for weeks now. But all I've come across is drivers. No owners and they're experiences...

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Ragman · Feb 20, 2017

Elfire said:
If I'm so doomed for success then is there another way to go about learning the business without me leaving my family? Maybe an online corse.

No.... by the very nature of otr trucking, being away from family is just a necessary evil of the business.

Elfire · Feb 20, 2017

Thanks guys I really do appreciate. I'll very much try if at all possible to drive and learn the business first hand. It just doesn't seem likely.

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Elfire · Feb 20, 2017

Oh and thanks geo. I'll be sure to look into it.

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Ragman · Feb 20, 2017

Elfire said:
Thanks guys I really do appreciate. I'll very much try if at all possible to drive and learn the business first hand. It just doesn't seem likely.

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Good luck in your endeavors.

Elfire · Feb 20, 2017

Thanks man if it's all right I'll message you in the future for advice

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TeamHutch · Feb 20, 2017

Keep in mind you may be in the negative some months. There is no guarantee you make a profit every month

TheCraftyTruckers

Mailer · Feb 20, 2017

My thought....
As others are saying, you've got to know the business first in order to run one. That pretty much said, you've got to get behind the wheel and rack up some miles. Otherwise, your hired drivers or brokers will work ya and all investments will be wasted.

Your entrepreneur spirit is admirable. But with young children and spouse at home, it's not really compatible with expediting. I would seek a local business start-up that is closer to home. This over the road expediting will certainly bankrupt the family relationship.

Best of luck.