Well like I said I don't begrudge anyone that wants to start their own business and that has a good plan and wants to do something for themselves.
My truck and trailer are paid for my home is paid for, I have money in the bank, and I'm not at all a big spender. With that being said I'm nervous. Or maybe I should say I'm closely watching with concern.
Sure, when the rates turn down I can still make a profit. But the thing that is in the back of my mind is, is this going to get to a place where it's not worth doing it any longer?
Now that probably is a premature thought at this exact moment, but with the way things are going right now I am not exaggerating when I say the price of fuel is going to go up to five or six dollars a gallon. If a set of tires cost let's say $5,000, we're going to get to where that same set of tires is going to cost $8,000 to $10,000, or more. The cost of maintaining a truck is going up. Inflation right now is rising so fast it's hard to keep up with it. Those costs are never going to go down again.
And coupling that with a government that let's just say isn't afraid to completely change and remake things on a massive dramatic scale it's something to think about. There is a multitude of things the government could do to make this business a lot worse and more difficult to make money.
And now all of those that have thrown caution to the wind and financed huge amounts of money on equipment that when it turns down will not be worth anywhere near that amount, when the rates turn down they will be the ones working for nothing and driving the rates down farther just to hold off bankruptcy a little bit longer... just to make that colossal payment a few more times before everything is repoed.
And the heck of it is right now is a historic time to have a great job. Companies everywhere are competing and they're paying insane amounts of money and bonuses.
So to anyone considering this make sure you are financially able and you have a real plan and your eyes are wide open. Yes, failure is a real possibility. These rates are not going to continue forever. Just like Ponzi schemes fail for those on the bottom, just like housing bubbles burst, this will not last forever.
But the expense from this Rising inflation will last forever.
To all of you out there ready to strike it rich...
Discussion in 'Ask An Owner Operator' started by Dino soar, Oct 16, 2021.
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