investor want to start truck business

Better check out comments on these forums from owner operators and company drivers alike. There's a lot more to running a truck than simply buying a truck and hiring a driver. You need information on what permits and insurance you will need, what you want to haul, fuel cost, add up minimum amount of money per mile you can run that truck for, then figure out what will be an attractive enough pay/benefit package for a good driver and add that in too.

After all of that, figure out how much other overhead you have. Then how much profit you expect to make from it. That will give you a minimum amount per mile you can afford to run. You may find it to be higher than you expect.

 

Suggest that you consider investing in a smaller local company with a company that has people managing that know the trucking industry, if you are interested in the trucking industry.

you will have lots of things to worry about.

1. IFTA
2. IRP
3. Insurance
4. NYHUT
5. NM WDT
6. KYU
7. 2290

And thats just the taxes you have to file each year or quarter, and the truck registration.

On top of these you will have safety, federal and state requirments.

As for setting up the company here is what I suggest.

1. Form a LLC or Corporation in your state. This will allow you to protect your personal assests in the event the company gets sued.

2. Determine a budget for the first year or two, depending on the operation type and size.

3. Apply for your USDOT number and State DOT Number. You can complete this free on the US DOT website, and your states DOT site.

4. Complete the application for your federal MC ICC number, Cost is $300, and this is also done thru the US DOT Site.

5. Get the required Insurance.

6. Select and purchase your equipment.

7. Register the truck with the state.

8. Pay the 2290 taxes on the truck.

9. Find a suitable driver, screen and drug test the driver.

These are just the starting requirments you will need. You will also need to audit the drivers logs, and ensure compliance with the state, and federal regs.

A trucking company is more then just having a truck and trailer. The feds make sure you have a mountian of paperwork to comb thru each quarter.... Oh and I forgot to mention the Safety audit by the State around month 6 or 8.

Look me up if you would like more information, we are a small company, and I don't mind discussing the in's and out's with you.....

 

If you want to use your money to invest in trucking you are going to need more than one truck. Unless you are just doing it for the fun of it you are going to make diddly squat unless you have at least a fleet of 20 trucks. I have owned many trucks and I couldn't imagine splitting profits on one or two trucks. There just isn't any margin in it.

 

You want to start a serious business and make money? Hit me up and we'll haul horses!

 

heres how you do it. You give me the money, in return you get a kick in the nuts. The benifits the pain will eventually go away

 

Why do you come and hijack someone elses thread with this crap. If this person is serious, they don't need BS answers from the likes of A-holes like you guys, and having a fleet of 20 trucks to start out with just plain crazy.... I noticed you said "owned" not own..... and if no making a net profit of 15k a month per truck is no margin, then someone is smoking some wacky crap....

 

You're better off buying a boat and lending it to you friends and don't forget to give the a credit card for fuel. You should end up with the same return on investment.

 

Do you really expect serious answers ? What decent driver would want to work for this individual with one truck ? Who will ever succeed if they have to come here asking these questions ? If they had any knowledge of the industry they would know there are many better ways to invest money .