Should I buy a truck straight out of school?

Trucking means 70 hour weeks with no guarantee of minimum wage. As a one man band, single truck operator, your expenses will be higher than the single truck expense of big companies. It's like filling your pockets with lead weights, jumping off the high-dive, and planning to learn to swim before you drown. Nothing says it can't happen. It's not a good plan.

 

Why?

Because many come here with some business experience and think it transfers to running a truck.

OK

That's fair.

Oh well, you want to get into a business we are part of, you come here and ask advice, we need to know more than what you just said to validate the advice. Many of us come from different backgrounds so if I can't answer something that you can relate to, someone else could because they know where you are coming from - Understand?

So back to the business end of things, it isn't like other businesses. It takes a little bit more to make it, a long learning curve and trial and error that isn't forgiving. Here we have a 90 -95% failure rate for owners, and that's higher than normal. The norm is 85%. This is the worst time to get into the business, being a driver, not a problem. The capacity which is what really matters is still too high, needs to be cut down at least another 25 to 30%.

Just buying a truck is not like buying a car or a service truck, there is a process, and there are more trucks chasing owners than owners trying to buy trucks. You have to do your due diligence, make sure you understand how to look at the truck as a tool (which I think you have that mindset) and leave emotion out of it.

Financially speaking just because you have the money doesn't mean you have it in the right spot. You buy a truck, even if it has a waranty, and it craps out on you - you need to sustain yourself for at least a month, may even be up to 90 days. I think a few here can tell you some horror stories about three months of downtime. So you need to have a large reserve, a maintaince fund with seed money in it and so on. You may already know this but it has to be said.

The insurance is going to kill you, YOU need to get time in the seat working for someone else, 3 to 5 years to lower the costs.

So work for someone else, get to know the business end of it if you can find a company that will allow you to work in the back office, learn from others here how to properly find work and how to leverage your services over the competition.

 

Have you given any thought to the amount of time you'll spend on the road? If you have a family, especially little kids, they're going to want you to be a major part of their lives.
If they have to live their lives without you pretty soon they'll start shutting you out. That's normal and very common.
I think driving for somebody before you buy your own is the best advice. That way, when you find it's not all just driving down the road without a care in the world, you can give the truck back to the company and figure out your next move.
If you own your own truck you probably won't be able to take much time off.
Also, you asked for advice. Not everyone is going to give you the advice you want. That's honesty and experience and a glimpse into trucking as it really is.
Whatever you decide, good luck. Let us know how things are going.

 

You're 72 miles North of Houston, so finding local jobs may be a challenge.

 

Here's one in Conroe that's local and requires CDL-A or CDL-B
$40G - $80G per year
Concrete Company, Ready Mix, Mobile Mix | Conroe, TX - CHOATE CONCRETE Concrete Company, Ready Mix , Mobile Mix | Conroe, TX - CHOATE CONCRETE
2905 South Loop 336 Road West, Conroe, TX 77304
.

 

Swimming Pool Supplies Distributor | Backyard Living | POOLCORP.COM
330 Corporate Woods Drive, Magnolia, TX 77354
$22 an hour / guarantee of 40 hrs. a week
Local home every day.

 

Home page (pepsico.com)
Conroe, TX
Home daily.
$82,750 a year
`

 

Home | onewatermarine
Conroe, TX
15096 Interstate 45 South, Conroe, TX 77384
CDL driver
Moving boats to various locations & dealerships.

 

You COULD buy your own truck. But you should learn the ropes first and figure out where the money is at. Cuz it don't sound like it's in long haul.

 

You will likely be much better off if you drive for someone else for several years first. Find out how well you like the daily grind first. And, not to disrespect your buddy, but he has no way of knowing how you will actually perform/fit in the transportation industry. Insurance rates are no joke, and a good record will be essential to getting them down. Another reason to run for someone else is that might get you in touch with some potential clients for you. It looks like owning your own truck would be great, and in some ways it is, I drove for someone else for several years before I bought my truck… and you know, after I pay my fuel, insurance, maintenance, and stop thinking about all the time I put into the business that I flat out don’t get paid for, the idea of working for someone else is not all bad anymore. Also, freight rates are BAD right now. There is still money to be made if you know the right people, but a startup will be at a disadvantage compared to someone who has been in the industry and has established clientele. There is a lot of good advice in this thread, from people who have been driving their whole lives, and know the industry inside and out, good economy and bad. And, if this helps you at all, my truck is currently parked most of the time. I have a really good seasonal gig I plan to keep working, but until it gets more worthwhile to run it, it’s paid for, and it can sit. I don’t think any of us are trying to discourage you, but you asked for advice, and you’re gettin it! If you want us to tell you it’s an awesome idea, better ask that in a different thread, then brace yourself for the sarcasm. Good luck in the new career!