Options - Help!

[loner1]

Greetings,

I have just purchased a cargo van that I will be putting into service within the next week or two. I have a few options available to me and wanted to share them with you with the HOPE of getting some expert opinion on what would be the wisest move.

Before you post - PLEASE DO NOT TELL ME HOW STUPID IT IS TO GO INTO EXPEDITING WITH A CARGO VAN IN TODAY'S ECONOMIC CLIMATE. I have many years experience in expedite and transportation logistics, so needless to say, I have done some homework.

Here are the opportunities available to me.

Opportunity 1 - Sign the van on with Panther Expedite at .70/mile - and of course, many of you know the ongoing expenses related with this option.

Opportunity 2 - Sign on with Express-1 at .70-.80/mile (mostly it will be .70), and of course there are the expenses there as well.

Both of the above options require exclusivity - but there is a SENSE of security given their size, reputation and volume.

Opportunity 3 - Sign on with ALL of the following companies
Prestige Expedite
Whirlwind Express
T&K Expedite
Alliance Expedite

Each of the carriers in OP #3 have agreed to allow me to sign with other carriers - as long as communication is paramount. The plus to this arrangement is lack of exclusivity and lack of ongoing expenses. However, I KNOW the freight is slow right now, though it has picked up some in the last month or two. Is there more "security" (if you can call it that) in signing with one solid company or signing with a multitude of companies and hoping for the best?

Once again, I value your opinions, but I really don't need to hear the "Don't Do This" - I've already purchased the van.

Thanks for you help and happy trucking.

 

[piper1]

OP 3 will provide more opportunity if you are willing to put in the extra effort to juggle it all.

When you decided to buy the van and used your years of expedite and transportation logistics experience, what did you base your business plan on, OP 1, 2 or 3? Seems that would be the educated answer.

 

[Jack_Berry]

without knowing what the players in op 3 it is hard to compare dollars.

you need to decide which company is the best fit for you and will do the best job finding loads for you.

good luck

 

[loner1]

OP 3 will provide more opportunity if you are willing to put in the extra effort to juggle it all.

When you decided to buy the van and used your years of expedite and transportation logistics experience, what did you base your business plan on, OP 1, 2 or 3? Seems that would be the educated answer.

I originally planned on Option 3. Had not even considered 1 and 2 because they were unavailable. Neither company was even TAKING cargo vans - and technically - they still aren't. So I've figured things each way. Just want some OUTSIDE INput.

Thanks

 

[transporter]

who is paying for insurance. have you verified insurance company will allow you to run under multicompany authority

 

[blizzard2014]

Is panther putting on cargo vans now? I called them three weeks ago and they straight out told me that they were not going to hire on any new drivers. Are you sure they are hiring new people at this time?

 

[loner1]

who is paying for insurance. have you verified insurance company will allow you to run under multicompany authority

Under option 3 I would pay for the insurance through Commercial Insurance Solutions. They are very familiar with all of the companies and specialize in expediters insurance needs. I have been quoted with multicompany authority in mind.

Thanks for the thought.

 

[loner1]

Is panther putting on cargo vans now? I called them three weeks ago and they straight out told me that they were not going to hire on any new drivers. Are you sure they are hiring new people at this time?

No they are not looking for any NEW drivers.

 

[loner1]

without knowing what the players in op 3 it is hard to compare dollars.

you need to decide which company is the best fit for you and will do the best job finding loads for you.

good luck

In option 3 - they all pay between .70 and .80 per mile.

 

[blizzard2014]

Check your in box for a message and send me a message. I can help you on the independent thing. Also, i'd consider maybe leasing on with bolt to give it a shot. My friend Neil made 8 thousand dollars with them back in September of last year!!

 

[Turtle]

Greetings,

Howdy

I have done some homework.

Clearly, not nearly enough.

Panther, Express-1 and many other carriers, normally in a perpetual "new hire" mode for vans, are suddenly no longer looking for new vans, and many, in fact, are actively looking at ways of downsizing their van fleet, not merely staying static. There's a reason for that, but it's obviously one that you refuse to consider or believe.

Here are the opportunities available to me.

Since Options 1 and 2 aren't even an option, your only options are Opportunity 3, or your own authority.

At least with your own authority you could be a partner carrier with the ones who aren't even taking on new vans.

BTW, if nobody has told you yet, this really isn't a good time to get into the expediting business, especially with a van. Just thought I'd point that out to you.

 

[loner1]

FYI - I responded to Turtle privately because I don't like to stir up crap. However, All of the options that I presented in my original post are viable options to me, and how that came to be I do not believe to be the business of anybody else.

As I am leaning toward the cat - I will let you know my van number after I have the QC equipment put in the van. It's already wired, as it has already been on the system.

Thanks for the "tidbits" of information.

 

[hondaking38]

I just met a guy last week at the petro in monee illinois,,,he was running for t&k and prestige, both as you want to do..neither company has a problem with it....the first company T&K he gets a couple loads a month from..(he said there long loads,from like chicago to washington state,etc etc) and that prestige fills in the gaps of trying to get him back in the freight areas..for him it works,however he sat for 3 weeks at home without a load from either company this spring..I think he said he lives in south carolina...i said thats nothing..theres not a week that goes by that i dont feel like quitting...i am sure he said,T&K is out of the chicago area and that a father and a son started the business. and that he was one of the first to join there ranks...so panther is now at .70 cents for new hires....doesnt matter 50% of there load offers are at .70 cents a mile that i get offered..

 

[xiggi]

doesnt matter 50% of there load offers are at .70 cents a mile that i get offered..

Only about 8% of my loads are offered at.70 I have also had a couple .75. Might have just been lucky so far.

 

[loner1]

I just met a guy last week at the petro in monee illinois,,,he was running for t&k and prestige, both as you want to do..neither company has a problem with it....the first company T&K he gets a couple loads a month from..(he said there long loads,from like chicago to washington state,etc etc) and that prestige fills in the gaps of trying to get him back in the freight areas..for him it works,however he sat for 3 weeks at home without a load from either company this spring..I think he said he lives in south carolina...i said thats nothing..theres not a week that goes by that i dont feel like quitting...i am sure he said,T&K is out of the chicago area and that a father and a son started the business. and that he was one of the first to join there ranks...so panther is now at .70 cents for new hires....doesnt matter 50% of there load offers are at .70 cents a mile that i get offered..

Thanks for the input. I know the guys at T&K and the scenarios you speak of are what I am concerned about with my option 3. I can make it work on the Panther program, so I think that is the way I'm leaning.

Thanks again.

 

[davekc]

Before you post - PLEASE DO NOT TELL ME HOW STUPID IT IS TO GO INTO EXPEDITING WITH A CARGO VAN IN TODAY'S ECONOMIC CLIMATE. I have many years experience in expedite and transportation logistics, so needless to say, I have done some homework.
==============================================
If that is the case, I am confused with the question of asking?

 

[x06col]

I gotta second that. With yer extensive experience, ya otta know what'ca gonna do. Whay ask a bunch of clowns that are jes speculat'in with yer future??

This thread might git fun.

 

[loner1]

Only about 8% of my loads are offered at.70 I have also had a couple .75. Might have just been lucky so far.

What is your contract rate?

 

[moose]

Can you Please expend on option 3 bit more ?
how dose it going to work , with DOT# , turning in logs , drug testing, maintenance reports, , Lease contract ,Orientations,Base plate , EXT.
and is it lawful to lease on with more then one carrier at a time ?

I know you have figured it all up , just what did you came up with.

best wishes , and good luck
(& please choose #3 , and let us know how it's going ... )

 

[Turtle]

"If that is the case, I am confused with the question of asking?"

If he put all the stuff in this post that he did in the PM he sent me, you wouldn't be as confused. I'd elaborate, but that would be a breech of decorum. Suffice it to say, he knows what he's getting himself into.