starting a trucking business

I'm thinking they are lost on terms... Obviously, could never make it on $200 a week profit on a truck... What I think you mean is that you want to pay yourself this out of the revenue the trucks generate... Meaning expenses come off first and are put into different accounts for payroll, fuel, and maintenance(which includes tires, oil, filters, grease etc etc... with sizable slush for breakdowns)...

So your question, is this possible?(the $200 per truck per week) Well maybe... depends on the work you can get, or accounts you can generate, and relationship with brokers etc...

 

I would look at where are you going to get your business from. I believe you stated before you have no money to start this business that has a very good chance of failing. What are you going to tell the bank about how your business is going to run. "Hey Mr. Banker can I get a LOC for $1M and I am going to go on the internet and call brokers and get freight and pay you back no problem." So you are going to need a solid business plan to get this set up which means you are going need to get some customers lined up. This is very difficult to do without any trucks or any experience you need to be a very good salesman for this.

Five trucks is not a good number you will not be able to pay yourself enought money for the amount of work you are doing and you will not be able to afford to bring someone in to help. You need to either get one truck and drive it yourself or go for at least 10 right off the bat. Your $200.00 profit per week is a low number that is what is going to be left over after you pay your drivers, truck/trailer notes light etc. before you pay yourself. You should shoot for somewhere between $20-$25k per year per truck.

You may want to look at some companies that offer agent programs for small carriers. You pay a percentage off the top typically between 12-15% per load. Being an agent would be perfect because they will handle all "back office" parts of business. You do not need to worry about AR, Insurance, Drug testing, authority DOT compliance etc. it takes a lot off your shoulders so you can focus on growing your business.

These are just things to ponder on the most important part is how are you going to get business.

 

$22,500/52=$432.69 per week. Just thought I would do the math for the OP.

 

I'm not being negative...just a realist. You need a lot more experience in this field before you start thinking about FIVE trucks, nonetheless trying it with one and driving it yourself to test the waters. You would be better off investing that money you don't have into something that will show a profit margin much higher than this business if you're interested in actually making money. There's no better way on earth to lose money faster than with trucks and drivers, operation costs, compliance, insurance and losses.

The old saying still stands true; "How do you make a million dollars in the trucking business...? Start off with TWO million..."

"There's a LOT of money IN trucking...just can't seem to get any OUT of it..."

These comical statements weren't produced from self-made millionaire truckers, that's a fact.

Good luck.

PS: AS stated earlier, if you are bent on doing it...get an attorney and accountant that's savvy with the transportaion industry and keep them on speed dial.

 

Can you provide a list of business oportunties that have much higher margins I am looking to get out of trucking.

 

Sorry for the late reply, but I thought I should at least make an attempt here.
Why are we in business/do what we do? That's fairly simple to answer.

Most of us older guys that have been doing this since the 70's and 80's came from an era that we are fortunate to be a part of...classy trucks, great times, low compliance problems, less stress, had fun. 35+ years later...we're basically STUCK in this now...waiting for our time to get out. Some already have, some retired, some like me have about 10-12 years to go to suffer the rest of our time out. It's certainly not the money, (BA Hahahahaha...,) or the glory, or the ease of the work. It's simply a matter of being in that final stage of the game and we just plow through it all.

The industry has changed so much that we're sick of it, but it's all we have done for so long...what do you do? I'm fortunate in that I have diversified into certain specialized areas of trucking, but it's still trucking, can't put lipstick on a pig. I have 12-13 more years before I'm drooling, so I forge ahead. If I didn't have a couple older vintage trucks that I can drive around in and feel warm and fuzzy, I'd be sunk.

That's just me...must be lots of guys still in love with the job around, but I'm looking for the exit ramp as soon as I can. The days of highballing, running hard, hammering down, and all that stuff are gone, as is the fun. White's Truck Stop at the 205 MM on I-81 in Raphine, Va. is sold out, and the motorcycle collection out front along with the gun and knife collection inside are too...so it's over for me.

There ya have it. √

 

#1; Farming.
#2; Logging.
#3; Snow Plowing.

All three suggestions would provide a much better quality of life than in today's trucking environment. Farmers, loggers, snowplowers all get to sleep in their own beds...use their own showers and rest rooms, eat normal foods, and be content with what they have.

Just sayin'.

 

I dont know know about available opportunities; high end jewelry comes to mind. Custom cabinetry. Selling junk bonds as retirement planning for schmucks....
got me laughing when I read your comment tho, thanks for that

I'll stick with trucking for the time being. Wish I was passionate about something that'd make me a mint, I love trucks. Guess Ill stick it out for a while.

 

That's just it most don't realize we do this because its what we do, money is second to the fact. Yes it takes a certain amount of cash to keep rollin, but after this long in it I have finally figured out where that cash is. Rich is something these two old trucks will never make me, happiness is something it would take a fortune to buy me.

 

I think you have a good number of years on me, and I have finally learned that money cannot buy you happiness. It may make you smile, but it cannot make you happy.