How To Get Freight Contracts And Loads For Owner Operators in 6 Steps

One of the most important steps in your path toward becoming an owner operator is determining how you will make money. To prosper, you will have to find long-term contracts or one-off customers who have loads they are looking to ship.

Starting early by researching, brainstorming, and writing down your strategy for finding loads will put you ahead of the game before your truck is ready to hit the road. The following strategies are tried-and-true ways for trucking companies to find enough work to generate consistent revenue.

If you have worked for a trucking company in the past, one of the biggest changes as an owner operator will be your need to find your own freight and contracts. Some contracts will require more than the legal minimum when it comes to insurance coverage.

Check out our insurance guide for truckers to learn more about the different types of coverage truckers need. It is always best to speak with an agent and verify that you have the ideal policy for the types of loads you would like to transport.

Below are the six most reliable sources where owner operators can find trucking contracts and loads.

Load boards are the most popular places for truck company owners to find loads to haul. Some online load boards do not charge an access fee, while others do.

There are hundreds of digital load boards from which you may choose, with thousands of jobs available.

The top five load boards are:

1. DirectFreight
2. DAT
3. TruckStop
4. 123Loadboard
5. Trucker Path

A more traditional way of finding loads, freight brokers are a long-time staple in the trucking industry. Brokers leverage their extensive networks to find shippers for trucking companies.

Owner operators enjoy working with freight brokers because they act as a middleman between the shipper and the trucking company, thereby making the entire process much more seamless from beginning to end.

Brokers are also able to find consistent, high-paying loads so your business can have a consistent cash flow.

Six of the best freight brokers for owner operators are:

1. GP Transco
2. Coyote Logistics
3. Worldwide Express
4. Global Tranz
5. Trinity Logistics
6. Echo Global Logistics

If you have a talent for cold calling, you can pick up the phone and begin offering your services directly to shippers. Start by introducing yourself to shippers and inquiring whether they may be interested in entering a contract with you as an exclusive truck driver.

Be prepared to hear "No," but keep going. By making personal contact, you are in a position to personally explain your rates and negotiate contract terms.

Even if you don't win contracts at first, you will place yourself on each shipper's radar for future opportunities when they may need a truck driver. Contracting with shippers directly should be paired with other strategies because shippers may contract with a surplus of drivers.

If this happens, it may leave you without direct work from them until a future need arises.

Truck dispatchers locate loads, connect with brokers, negotiate on the trucking company's behalf, and ultimately set up routes for drivers and send trucks to pick up and deliver loads.

Dispatchers who offer a more comprehensive service will even go the extra mile by helping you maintain compliance, manage delays, and maintain positive relationships with shippers.

Dispatchers differ from freight brokers in terms of representation. Dispatchers solely represent trucking companies. Freight brokers can represent both the shipper and the carrier; therefore, brokers are required to remain neutral while facilitating transactions.

Five of the best dispatching companies are:

1. Genius Dispatch
2. Truck Dispatch 360
3. Dispatch America
4. MaxTruckers Dispatch
5. Ninja Dispatch

If you want the freedom of being an owner operator without the stress of finding your own contracts, don't fret! Leasing on as an owner operator with a larger trucking company may be the option for you.

When you work for a carrier as an owner operator, you have the flexibility to choose when you want to work and only accept the routes you want to take.

This means you can plan your trips around family responsibilities and leisure pursuits.

You can also choose trips based on your desired travel destinations. You will also benefit from having the larger truck company handle most of the administrative tasks, and you can save money on things like fuel.

To get started, choose a reputable carrier company you might like to work with. Check your potential carrier's safety record, and consult other owner operators to learn about its reputation. Determine which factors are most important to you.

You may find that you prefer some carriers based on the following:

• Schedule flexibility
• Benefits and services
• Load selection process
• Ease of payment
• Equipment, lane, and freight restrictions
• Fees

Becoming a government contractor can also provide you with steady streams of reliable, paying loads.

There are three main websites through which you can find government contracting opportunities:

1. the General Services Administration (GSA) (www.gsa.gov),
2. the Department of Defense (DOD), (www.defense.gov), and
3. Sam.gov, which is part of the GSA and will allow you to search for active opportunities throughout the federal government.

You can also find information about state government contract opportunities through your state's Department of Transportation website.

There is a process that small businesses must follow to bid on government contracts. New owner operators are encouraged to begin by partnering with larger trucking companies that already haul under contracts with the government.

As a newcomer, you can gain knowledge and vital experience without being required to meet the rigorous requirements some government entities have in place for contractors.

Finding your first paying load will be an exciting benchmark for your new small business.

If you remain persistent and combine the strategies discussed, your first load will be just one of many consistent work opportunities in your future pipeline as an owner-operator.

Call our consultants at CoverWallet at (646) 759-0049 to get a free quote for the insurance you need for your trucking business.