Business plan

Hopefully @SteveScott will come around. He didn’t come into money but had money already from a previous business and did exactly what your hoping to do and in the same areas. It’s too bad because he sold his truck and reefer trailer a few months back that he’d bought new and taken great care of.

I’d highly advise you buy a new truck and trailer and get your own authority. Drive it, dispatch it, and do all paperwork and billing for it until you learn all aspects of making it a success. Sure, you can buy used and pour a #### load of money into a hunk of junk during that year, but you’ll just end up needing to sell it and buy new anyway for when it’s time to expand and hire drivers. You’ll never recoup that money.

It’s too bad @ScooterJones isn’t still around. That guy was meticulous with numbers and spreadsheets. Not sure if you can search his posts as well as Steve Scott. Scooter ran that Oregon area as well. Unfortunately for you, he also just sold his truck and trailer.

I know you have a lot of driving experience but driving experience doesn’t make you money, business experience does in this case. Particularly, business experience in trucking! Don’t go buying 2, 3, or 4 trucks as you’ll just make all the same rookie mistakes only x amount of trucks you have and you’ll go broke. It also takes a long time to learn how to make the right hires and avoid the blood suckers. There are some real fine people out there that will truly help make your company, and a lot of bs’rs who will literally break your company.

Good luck

 

Sorry I'm late, just saw this.

$100k isn't nearly enough to get into the business now after buying a good used truck and used trailer at much higher prices than last year, nor is it a good time to buy new unless you have at least $300k in the bank and can pay cash for new equipment plus getting an extended warranty on truck and trailer. When I bought my equipment new in October 2018, I paid $240k cash for a new T680 and a new Utility reefer with extended warranties. I was lucky and never had any down time for repairs and worked on average 4-5 days per week and home every weekend just running from CA up to OR and WA and back. I had 2 contract clients lined up before I bought my equipment which helped immensely. I paid $150 per month to park my equipment 4 miles from my house. Last year I retired in October and sold my equipment, and I netted about $180k after 9 months of working 4-5 days per week. Had I been willing to stay out a couple weeks at a time, that number would have been much higher. Without my contract clients, I would have netted half that because finding freight from the Pacific Northwest down to CA is very difficult unless you know a good broker that specializes in that region, or if you have your own clients needing regular loads covered heading south. Loads going north from CA are very easy to find and are paying extremely well right now.

As somebody else mentioned, real estate might get you a better return on your investment. Prices are going through the roof for real estate because people with money have no place to invest that will earn a return because interest rates are so low, so they've turned to residential real estate and are driving the prices up for everybody.

Sorry I've been absent from the boards. My mom passed away a couple weeks ago and I've been busy dealing with that and taking care of my dad.

 

You just need to hang around and read current and old posts. I’m not going to outline the steps to making 500k+ per year. If you want to pay me 50k or so I’ll take you under my wing but otherwise you just need to read. I’ll just say there are people running 5 trucks making 500k and there are people running 50 trucks not making 500k.

 

Sorry to hear about your Mom. RIP

 

+2 @SteveScott my friend. I truly hate it for you my friend. I’m glad you “retired” when you did. Take care brother.

 

Can I get under your wing? I just need to use one of those new trucks. HA Ha