I am in no position at this time to do so. My first year (6 months really) I am 9k in the whole.
Despite all the nay sayers in my support group. I was able to get the truck. All the proper paper work with the state and other's now I'm building my knowledge on truck repair. I'm fully aware that I will never know it all, but thats not gonna stop me.
I am ready to start learning on how to build a three truck fleet. In hopes to have 2 of the 3 trucks in early 2024. I will still drive. But independently or non associated with those three.
What would be the first step in building a strong foundation. Is it money, education, .... I just don't know?
Expanding a business
Discussion in 'Ask An Owner Operator' started by Keepforgettingmypassword, Jan 29, 2022.
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What was the cause of 9k in the hole first year?
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Some strong numbers with the first truck would be a good step.SL3406, Keepforgettingmypassword and Midwest Trucker Thank this.
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Trial and error. Go for it, note your mistakes and continue on. Like you've done, ask for advice along the way. You may succeed or you may fail. But that's just me, kind of a risk taker. I will also say, if you have wife/kids, your decisions will be different than if you are a single guy.
Keepforgettingmypassword Thanks this. -
Exactly, that’s one thing I say pretty often to people that think that 3 trucks, 5 trucks, 10 trucks or however many is what you have to do to be successful and only scale will work. That’s just not true. Figure out how to make money with one truck, 2 trucks, 3 trucks, and only then think about 4 or 5. There are growing pains along the way and multiplying your mistakes times how many trucks you’re running will only make you go broke that much quicker.Con707904, Accidental Trucker, John Joel Glanton and 5 others Thank this.
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There is no immediate economies of scale when adding trucks because the cost of the time involved with aligning resources to produce the revenue from the additional truck.
Organization … education next.blairandgretchen and Keepforgettingmypassword Thank this. -
I think bad planning. Eager to pay the truck off which I did. And that's when things started side ways.
To be sure I would pass the 120 land star inspection. I bought the same tires that where here 4,300 there. Could have saved money with more tire insight. Still owe 2k of the 5k brake repair. New nox inlet and out let sensors. I had to cut them out. So lost the core charge on them. Radiator reserve. A computer update. And the list continues.
Understand I'm not complaining. All of this would have been done if one of two things had or hadn't happened. One I was laid for up (parked and scared to hurt it.) 2 weeks and 2 days with a truck that wouldn't do over 45-50. Until my buddy figured out it needed a update.
Or two. Who ever worked on it before me had used anti seeze. I just broke two more bolts today. Trying to get them just loose enough for the pb blaster to get to the treads.
So far nothing needed work until it all needed work
But I'm back to work know and even more determined.Mcast3092 Thanks this. -
You read my 2nd sentence in post 4.
Keepforgettingmypassword Thanks this. -
I did thank you!!!!
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Ouch man sounds like you need to hit the reset button . You need to make it profitable with one truck before you even consider another truck Im talking like you put another 50 k in account or dont do it . Sounds like your off to a nightmarish start .
Keepforgettingmypassword Thanks this.
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