Do you have a bsns plan you can share w/ me &/or give me advice?
Discussion in 'Ask An Owner Operator' started by Mountain Mover, Feb 14, 2024.
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01HFT, Rideandrepair and Vampire Thank this.
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If everyone did all that BS to become an O/O, there would be very few O/O’s. I’ll go out on a limb here, surely to offend someone. My apologies beforehand. Anyone smart enough to do all that you mentioned, wouldn’t be dumb enough to buy a Truck.
exhausted379, Deere hunter, 86scotty and 6 others Thank this. -
Universal success planfortycalglock, broke down plumber, Rideandrepair and 1 other person Thank this. -
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If there are any owner operators that have done a business plan that have some insight or valuable content to add, would like to hear from those folks. Thanks
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AModelCat, gokiddogo, JoeyJunk and 1 other person Thank this.
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@Mountain Mover --
To better help formulate & fine tune your own business plan, some questions for you:
- Do you already have a CDL?
- How much CDL driving experience (months &/or years) do you have?
- What type(s) of freight have you pulled previously?
- What type(s) of freight do you intend to pull as an O/O?
- What CDL endorsements do you now have (if any)?
- What city/state is closest to you (starting a biz in Calf will be different than in Tenn)?
- Which type(s) of freight do you think would make you the most successful -- & why?
- What freight areas/lanes do you think would make you the most successful -- & why?
- What year make(s)/brand(s)/model(s) of tractor are you considering -- & why?
- Have you already talked to/selected a tax professional who specializes in tax issues for independent truckers? What did he/she advise you? How much start-up capital was recommended?
- Given current freight market conditions for the freight you're considering -- & above & beyond any true business plan -- how have you calculated a pathway to probable financial success?
86scotty and Constant Learner Thank this. -
To answer your question above, studying some business plans that others have put together and then asking them if they stuck to their business plan, why or why not, and what has been their success around their business model based off the business plan would be a great place to continue researching. If I can gain access to a bunch of business plans I can gauge better the answers to many of those questions you asked and will give me an enormous amount of insight and information.
The rest of the questions will only open the door for judgement and based off some of the stupid responses I have seen in this thread alone already and other folks posting on this forum and other forums, it only will lead to more judgement and not helpful advise. Some of the questions you asked I don’t know the answers to and why I am looking for business plans to study, research, and see success rates based on those. I have seen tons of advice and opinions on things over the past few years in reading up on this stuff but I don’t ever see anyone talking about business plans. When I inquired with a company about financing on a truck it was the very first thing they asked for/about.
Yes I have a CDL, I have all my endorsements, not much experience, I have an education in business, and not a young man. I am familiar with the industry and know it’s currently in a down swing, but truck prices are also in a downswing and right now is a good time to buy one.
If given a choice I don’t want to work for other folks and prefer to work for myself, even if there is a lot of risk involved. I don’t have anything to lose outside of a good credit score if things go bad, and to me it’s worth the risk if I can pull it off and hang in until the roller coaster heads back up.
I have personally met folks that had zero experience in trucking, just obtained their CDL, and learned and did everything by the seat of their pants, including zero input or reading forums like this, no research, and have found success.
I am not looking for advice on why it shouldn’t be done or why it can’t be done. There is TONS of opinions like that on every forum out there surrounding trucking. I am just brainstorming, asking questions, and trying to find my own path and not dictate it on what everyone’s opinion is. I would especially like to hear from folks who swam upstream against the current and advice and made it.Last edited: Feb 15, 2024
NightWind Thanks this. -
Business plan? You're running a truck hauling freight. It's not rocket science and doesn't require writing a thesis. Don't overthink the simple. Identify a need and fill it.
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