Whether you are brand new to Landstar or just thinking about joining the greatest opportunity in trucking today, the “road to success” can be a rough one…IF you don’t know the way.
If you are new to the Owner/Operator, Truck-Owner world, the first few months are critical and can determine whether or not you’ll even survive. There are many skill-sets that you will need to gain or master in order to accomplish your dream of independence and freedom, the very reasons you decided to join the Landstar team.
You can stumble forward, try to re-invent the wheel, listen to “them” on FB and very possibly be one of the 38% of new BCO’s that fail and leave Landstar in the first twelve months, OR you can grab on to the coat-tails of one of the most successful fleets at Landstar today, and let us show you the way!
We offer a cost effective, comprehensive service to teach you the necessary skills to become highly successful as a BCO at Landstar. We will help you navigate the complicated Landstar System, dispatch you for a period of time to help you earn the maximum money during this educational period, and even help you establish and master sound business practices. Our “wax on…wax off” approach to coaching, our daily interaction, along with our popular Podcast/YouTube channel, “Blue Ribbon Logistics Podcast”, featuring Chris Polk & Larry W. Long, will give you the experience AND the knowledge to become self-sufficient in just a few months.
LEVEL ONE: INCREASING YOUR REVENUE:
The basics begin with our 90-day dispatching plan. It is very affordable and will likely pay for itself in improved earnings while you are learning, as opposed to what you would have earned on your own without our help along the way. Plus, we will familiarize you with the strategies that we employ AND help you learn the best use of the Landstar tools, including the Load Board, Lane Match, Landstar One app and more. We are completely transparent with our search methods and our load selection system.
LEVEL TWO: UNDERSTANDING THE LANDSTAR SYSTEM
Since Landstar is such a unique business model, it takes some “getting used to” in order to navigate the complexities of this new experience you have chosen to undertake. We will walk you through all the procedures, departments, policies, etc. that you didn’t quite grasp at orientation, as well as share our years of experience in mastering the “Landstar Way”. You will be familiarized with the key people that you will need to interact with on occasion at the Corporate level and how they can assist you when the need arises.
LEVEL THREE: IMPROVING YOUR BOTTOM LINE:
Now that we’ve got you making more money, let’s work on holding onto it by cutting your expenses. Understanding that lowering your cost of doing business is equally as important as increasing your revenue, is an important part of becoming a successful business owner. The primary reason that Owner/Operators fail is because they don’t realize that this is a business and it requires sound business practices. This phase of our program is focused on BUSINESS COACHING. We help you transition from a truck driver to a business owner.
+OPTIONAL LEVEL: KEEPING SCORE:
Without data and numbers and the analysis of them, it’s impossible to run your business profitably. Proper records are required by the IRS, possibly your bank, and most importantly you. Making good business decisions require empirical data…without your numbers you are just “shooting in the dark”. Bookkeeping and accounting are an integral part of every successful business and cannot be ignored. We will get you started with basic record keeping, filing, preparing your settlements, and other paperwork for an accountant. We can also show you some basic programs that will let you do most of this for yourself OR for an additional fee, we can provide these services for you, including monthly accounting, P & L’s, reports, and much more.
WHAT WILL YOU LEARN?
Load Board
How it works, load alerts, load selection strategy, rates and lanes, setting daily/weekly revenue requirements. How to get the most out of each load opportunity. Understanding the freight market and its effect on rates.
Agents
How to build relationships, how to become a favored BCO, understanding what makes them tick. Help you realize WHO your customer is and why. How to find the “secret” to your success at Landstar. Decoding the “Rate Con” and “Freight Bills” and other correspondence from agencies. Understanding the BCO vs. Agent relationship (and why they’re NOT the enemy).
Landstar Corporate
You’re not an employee…you are a business doing business with Landstar as an Independent Contractor. What does that mean? What to do when the phone rings and it’s the dreaded (904) area code? How to navigate through the different departments. Understanding their roles and responsibilities…and yours. What you are getting for “your” 35% (and how it’s not yours). Why your truck is “on hold”? How to take advantage of all the benefits LS has to offer, like LCAPP. Managing fuel/settlement cards, understanding settlement reports, card activity statements, fuel tax reports, etc.
Real Life/Real Time Experience
We are there to guide and coach you on all aspects of your new business venture and daily life as an Independent Contractor. You will have access to support via text, e-mail and telephone, depending on the severity and nature of the request. You will be invited to both “live” and “previously recorded” Zoom training sessions on various subjects.
Live training/educational events are also scheduled on occasion where you can join Chris and Larry along with our fleet/employee drivers and fellow mentoring/dispatch clients to share and network.
Business Principles
How to determine your CPM, what it is, and why it’s important. Controlling expenses and making purchasing decisions. The difference between increasing revenue and cutting costs. Fuel costs, myths and how to control your #1 expense. Legal structures and differences. IRS, regulatory and compliance concerns. How to tell what’s important to staying in business and what is not. Understanding that when you bought your truck, you changed your identity from “employee driver” to “business owner/employer” and why that matters.
Accounting
Why bookkeeping is critical to your business success. Help you learn whether to hire it out or do it yourself…and how. Record keeping, per diem, payroll and more. Quarterly taxes, forms 940, 941, your state requirements, etc. Basic bookkeeping/accounting systems. Reconciling bank statements, LS settlements, ComData reports. Understanding payroll and how to stay in compliance with the IRS. What is a P&L and a Balance Sheet and why you need them? How to generate a profit and how to tell if you are? How to use your data to make better business decisions. What to do to become more profitable.
WHAT DOES IT COST?
Our Phase One program is for a minimum of 90 days. The enrollment fee is $250. The Dispatch Service is then billed on a weekly commission of 5%. You can renew in 90 day increments as long as you feel you need us. The weekly 5% is based on TOTAL revenue, that’s before any Landstar deductions, and is based on all revenue, including accessorals and FSC, since we work very hard to generate higher percentages of the linehaul to these other, higher paying forms of revenue. The weekly dispatch commission is payable on your settlement day, via ComCheck from your ComData card. The initial enrollment fee is required to enter the program and can be paid with Debit/Credit Card or ComCheck.
Once enrolled in Phase One, then you can elect to enroll at any time into Phase Two/Three. The initial charge is $500 (per 3 months) for adding the Phase Two/Three program onto your Phase One training. The weekly dispatch fee will continue as long as you are utilizing the dispatch service. You can still renew it on a 90-day basis as long as you feel the need. The Phase Two/Three enrollment fee is required to enter that portion of the program and can be paid with Debit/Credit Card or ComCheck.
BCO’s who wish to ONLY enroll in Phase Two/Three and do not need the Phase One training and dispatch service may do so with a one-time enrollment fee of a $750/per 3 months. The Phase Two/Three enrollment fee is due at the start of the program and can be paid with Debit/Credit Card or ComCheck.
The Bookkeeping/Accounting Option is a two-part program. The first part teaches you the basics of bookkeeping and is designed to help you set up your own system and the tutoring needed to get you started. The fee for this is $500, one time charge. The second part is our in-house, advanced accounting service…if you want to have your books kept by a knowledgeable trucking accounting expert and monthly reports sent to you. The fee for this service is $250 for setup, then $95 per month, plus the cost of your software program. Quickbooks or Profit Gauges are recommended.