MOB Special Report: Keep On Trucking

In 2010, Matthew Mugar and Walter Lopes founded BOA Logistics. The Culver City-based logistics company specializes in road and rail transportation, including refrigerated trucking and cold storage. Refrigerated truck and cold storage allows companies to store goods at specific temperatures and is becoming an increasingly important part of the supply chain.

The business has since grown to more than 90 employees. Services offered by the company include Cargopic, which allows people to use an app to check on the status of shipments and an in-house software that helps make moving freight more efficient. 

BOA Logistics was No. 36 on the Business Journal’s list of Minority Owned Businesses. The company, which is Filipino American and Latin American-owned, had an estimated $44.6 million in revenue in 2022. 

Mugar said he is working to make BOA Logistics a “nationwide name in the cold supply chain.”

How did you get your business started?

We started the business during the great recession. Our clients needed more than what the current market was providing, so we started our company to meet their needs. The business started in my childhood bedroom with two desks, two computers and a fax machine.

Do you like being your own boss? Early on, did you ever think of trading it in for a steady paycheck?

Yes, I’ve always liked being in control of my own destiny. We believe in the power of accountability, so I didn’t want to have to rely on other forces. I never for one second thought of trading it in for a steady paycheck. Walter and I are just not cut that way.

What’s the best aspect of running your own business?

The best aspect of running your own business is to see it grow like a living being. You see it hit all the stages of life: birth, infancy, toddler, teenager, grownup, and now prime. What’s even more satisfying is to see the people you hired in the beginning go through those stages. Employees who started at entry-level, almost minimum wage now make six figures, manage teams, have created families and bought homes. What’s better than that? 

And the worst?

The worst part of running a business is managing people. Most importantly hiring the right team. When you make a bad hire, it can have long, and devastating, effects. Learn how to hire the right people for the purpose, and learn how to make sure they are team players.

What advice would you give someone who’s about to start their own business?

Join a group like EO (Entrepreneurs’ Organization) or YPO (Young Presidents’ Organization). The networking of people doing what we do will make you feel less alone. Walter and I did this for over a decade without a network, and it was tough. Now we depend on these groups. Also, be humble. When you fall, get back up and take one step forward. That’s all you need to do.

What’s the biggest challenge your business has faced? And how did you deal with it?

We’ve dealt with so many challenges from government regulations changing, rapid growth, wrong employee choices, and Covid. We dealt with it simply with grit and determination. That’s all I can tell you. Because if you get past these challenges, you will learn. If you don’t learn, then you fail. Well, that’s also a good learning experience.

 How has the pandemic affected your business?

The pandemic affected us because we had to become adaptable and resilient. We converted to a whole remote team, yet our management team was on the front lines at the warehouse when the whole world was in fear. It was definitely good for our business, because we looked past the fear mongering and saw the opportunity.

Has being a minority business owner affected your business? How?

Most definitely it has had a big effect. Walter is an immigrant from Brazil, and I am the son of Filipino immigrants. There is something to be said about the American dream. I think being a minority makes us a bit more scrappier, as we did not have the same connections as other folk.