Writing a business plan

Start with literally writing down what you will literally do. Day 1, 2,3,4,100. Pretend we readers are the lenders.

 

@Scooter Jones might have some ideas.

 

Late to the party, but I’m a retired Accountant. First, your likelihood of getting a small business loan is slim to none. You would be better served looking for a grant.

An even easier way to finance your new venture is to tap into a 401k if you have one. There is an absolutely legal way to gain access to the money without paying any penalties by forming a C Corp.

The down side is a C Corp is taxed at a higher rate once you surpass $50k. The up side is if you fail, you can transfer any remaining funds back into a qualifying retirement account and you’re not out any cash for penalties.

I mention this because the reality is it’s an almost certainty your business will fail. That’s just a statistical fact. This fact is also the reason small business loans are extremely difficult to obtain.

 

This guy has several videos and they are good info.


he managed to start a trucking company, buy trucks, hire drivers , and find loads.
I assume he’s making a profit , since he’s an accountant , I’m sure he tracks every dollar.

you’re Probabaly not going to get a low interest small business loan or grant unless you’re some preferred minority.
If you’re a Native American black female lesbian who’s transitioning to another gender or something , you might have a shot at a SBA loan or grant , otherwise, if you’re a straight white male, your chances are zero.

you can get loans from a local bank or one of the places that specialize in loans for truck, “associates “ used to be the one that did most of the truck loans.

to buy the truck if you have good credit and a decent down payment.

and you will need an actual plan to make money.
Do you have any contacts in the trucking business ? Friends that work in shipping departments that can get you direct loads so you don’t have to use brokers who take 1/3 of the money right off the top?

if so, skip the buying trucks part and start a brokerage, that’s the easy money in trucking, all you need is a phone and a computer. Your friends in the shipping dept get you the loads, you list them on the loads boards for 1/2 price of what your friend is paying you , and let the truckers do all the work while you make All the money.

years ago when I was an owner operator with one truck , I met someone who’s good friend ran the shipping department at a large paper mill, they offered me all the loads I could handle. It was in another part of the country and I had zero knowledge of brokering so I didn’t take them up on it.

 

Hey, how can you transfer your 401k to a c corp without facing penalties?

 

How to Use Your 401(k) to Start a Business

Here ya go

 

Thank you very much!