Tuesday, August 15, 2017
Monday, August 7, 2017
DAT Rate View is loaded with a lot of compelling information that has been a must for the larger fleets and brokers but more information than what most owner-operators were taking advantage of.
The new TruckersEdge Pro package now comes with the one most valuable piece of information for owner operators from Rate View, and that is the 15-day rate average paid by brokers.
I mostly negotiate based on supply and demand and try to coach owner operators the same but now having access to the 15-day average rates less knowledge is a need for negotiating.
Check out DAT Trend Lines, and you will see that rapid changes in rates do not happen in a 15-day period. Negotiation can now be done by anyone by just telling the broker what the 15-day average is. All legitimate known brokers use DAT, and most of them will see the same averages that you are seeing, so your rate never comes as a surprise making the deal likely to be a win for you and the agent.
Maximize your rate:
- Research the best paying lanes and post your truck going to those lanes.
- Another great tool that comes with Pro is TriHaul this will help you put a list of the top paying lanes to any market that you want to get to.
- Ask the broker to pay for your deadhead miles. This is just being upfront about your rate and an easy negotiation.
- It does not matter how good a lane is paying if you can't get a reload once you get there. I like to make sure where I want to go has more loads leaving then coming by doing a reverse search of the city.
- If you have time while you're getting loaded try to pre-book your next load. When rates are justified and up front negotiating is quicker, and relationships will start to build.
Friday, July 7, 2017
The easiest way to lower the amount you pay for factoring is to not factor all your loads. No one has an operating cost of 100% so why factor all your loads. Many factoring companies require you to factor all and most require a minimum. This does not happen at RPMquickpay.com operated by Triumph Business Capital. No minimum and No change in fee this is why Triumph is my pick for being the best for owner operators.
|Monday||$1,000||yes||$35||3.5% rate of $5000|
|load pay||Factor||3.5%rate||2.1% rate of $5000|
|Monday||$1,000||no||$0||1.4% rate of $5000|
3.5% is an example number only that owner operators are mostly quoted by factoring companies and broker quick pay. You can get less than this with Triumph and other factoring companies with more trucks you have or a longer agreed contract. Go to www.rpmquickpay.com fill out the form and you will get a call from my rep Mac Green or call 877-721-7630 and let them know you want RPM quick pay.
Tuesday, June 27, 2017
Why you should and should not use a factoring service
- Do you have the means to receive a paper check in the mail and cash the check without interfering with getting loads done by going home?
- If yes to number one then do you have access to money that will last you until you get paid from brokers that on average take 35 days to get paid from.
- You plan to grow your company one truck at a time only as cash flow allows.
- If yes to number one, two, and three then stop reading this post, factoring is not for you.
An alternative to factoring and what I like the most is using credit cards for cash flow. This usually works best for those with one truck, little debt, and an average credit score. I have used credit cards from the beginning even to buy my first truck, and just today my wife used free reward miles from business expenses to purchase 3 tickets to Japan.
I have two main factors for recommending a factoring service
- Factoring can be an option for owner-operators that are ready to get their authority but are finding it difficult to save a 35 day supply of money compared to staying leased to a company – getting paid a dollar plus fuel surcharge.
- If I am ever awarded a project that would require five or more trucks I would look at using a factoring service and would recommend it to others that have rapid growth. You don't have to use it forever.
I have chosen Triumph
- Triumph is the official factoring partner of DAT, the largest load board in the country.
- When you see the checkmark by a broker's name on DAT, that means the load is preapproved for factoring. No guesswork.
- If Triumph ever participated in unethical practices, then they would not be on the DAT load board.
- Triumph is among one of the largest factoring companies. If you plan to add more trucks and get better rates, you want an established company that isn’t going anywhere, and one that helps its clients scale.
Working with Triumph is more like quick-pay from a broker. You don't have to factor all your loads. This makes it incredibly simple to wean your company off factoring when you are ready.
I started this page to provide resources and tips to help truckers maintain and grow their businesses. Signing up through rpmquickpay.com lets them know that you’re coming from this group of supportive, informed people.
I have met the CEO of Triumph Business Capital, and I have conducted interviews with senior management in my own hometown. My name is on it, I’ve done my homework.
Sign up using rpmquickpay.com or call the number at the top. Our rep is Mac Greene. 469-312-7188
Friday, April 28, 2017
Finally, a broker that is keeping it simple and offering the service for FREE hats off to you the new broker on the block "Uber Freight".
1. ACH with no fee. This is a requirement like it should be.
- This means no more signing paper checks.
- No more paying to cash checks.
- No more going home to just check the mail for the check.
- This broker will never give you the excuse that the check got lost in the mail.
Keep reading it gets better.
2. Get paid in 7 days for free.
- No need for factoring
- No need for quick pay
Broker and agents if you fear Uber and what they can do to the market then start taking notes. All they have done here is make life easier to do business with. This is something all brokers can do and should do.
If you are a broker, then be a broker and stop being a factoring service.
I got to share my thoughts on what I would want in an Uber Freight market system when it was in the very beginning stages in San Fransico. I mentioned both of these great ideas that I am sure others as well did in my interview as being something that carriers would be very attracted to.
You can find Uber Freight listed on TruckersEdge or DAT with the name 4Front Logistics Inc www.truckersedge.net/promo721