I might be crazy

COVID-19 is causing bankruptcy of 100's of trucking companies right now.
Wait until the coming deep recession is over.
Meantime, study www.OOIDA.com which is a business website for the owner-operator and small fleet owner.

 

I applaud your initiative, it's what built this country. I think it can still be done, just not right now. As insurance and reg's take down one mega after another, and it's happening as we speak, people going to still need the goods, more so even, and someone that stayed in business, going to make a killing. Probably see a return of the outlaws. Not sure what to tell you, I had my trucks in the 90's, and after that, I deemed it not profitable to continue that foolishness, and drove someone elses truck. Up to you. Good luck.

 

Getting in trucking right now would be the same as getting into trucking during the 2009 financial crisis. Horrible timing. Even season vets with long track records of success are very concerned.

If you want to end up with a million dollars in trucking, you better start with 2 million.

Like the other person said, used trucks had already gotten very cheap from people struggling, but they are about to start giving them away. So, maybe in a few months you could time it right to buy cheap and hopefully hit an upswing. Good luck finding drivers, most will be riding the couch cashing that unemployment.

As for load boards, the free ones show artificially high rates to try and get people to sign up. This gives a false sense of security to new people who are thinking of going trucking out on their own.

 

How much money do you plan on having for start up capital and how much in reserve?

Without either of them at a higher than normal level right now for the next year, you won’t survive.

 

I'd wait a while and see what happens. Starting from scratch and being worthwhile is probably about the same odds as winning the Powerball right now.
Once the smoke clears from the virus I'm certain plenty of formerly profitable small trucking companies will be struggling just to stay afloat. If you have the financial resources to keep one going, find a partner who needs what you have.
The trucking industry really doesn't need to add anymore start ups.

 

Good Drivers already have jobs...

 

Bob, I wanted to start a couple years ago, and did, and have made it so far with one truck only. There are lots of guys here with tons of experience and success I've learned to pay attention to. A few have already responded. Please pay attention.

 

I agree with what the other members posted. I admire your ambition but right now is not the time to be starting a trucking company.