Insight desired

If you have that kind of degree on the way, then you know that you need a good solid business plan. You should learn the ins and outs of trucking from the business side, at least. Go over your father's books.

That being said, follow your heart. Money pays the bills, but it doesn't keep you warm at night.

 

Me, I would get involved with pops business. Look over the business, write your ideas down and review it him. Suggest and not dictate. Set some goals for you, work for him about year. If your not "feeling him" or the business, then starting looking for that corporate job.

Also, depending on where you live. that corporate (comfy) job might not exist in pops town.

My 2.38 cents.......

 

Get a semi comfy job close to your folks, and in your spare time learn the business and examine the finances. They probably cannot afford to hire you full time with benefits like a corporation could right now. If it can be something that you can grow into, fine. If not, then you have a job an independence.

 

I'm not sure if you will really reap the benefits but there can be money to be made. You could check the records and such and see where there could be a need to be more effecient. I can say if this small company does not do there own tire changes, rotation,brakes etc. you might want to consider. As an O/O inch air gun and tire irons have saved me thousands! I would not expect to get rich. Also do side work with your degree. I would not solely reply on the trucking company for a source of income unless you plan to drive also.

 

Depends on you..... it would take hundreds of trucks to pay you what you would be worth a few years out of college especially if you headed for Wall St. That kind of money doesn't exist in small operations.......

So I'm asking: If you go with pop..... are you going to be happy 10 years out at your reunion when all your buds have large homes and salaries to match and you have a 3 bedroom brick job in the subs?

There is only so much you can do with trucking operations. Competition will keep you in check along with rising expenses. You said one of your majors is finance....then you know distribution ( trucking ) is a cost center and costs have to be controlled.....and this is why it's difficult to make money in trucks.

Good Luck !

JMO

 

A small trucking company that looks at all aspects of the business can be a gold mine. And now is the time to expand. Money is cheap and if you get to understand all the issues in this business you will see dozens of places that can be profitable.

What most in this business fail to do is look outside the box of being a carrier. You have brokerage, factoring, dispatch, etc. But if you get to understand these businesses and see how they work, you will soon understand that many of them make money by taking advantage of others in this business. But still plenty that have built long-term businesses by doing what the job is intended to be and treating all parties fairly.

But from the beginning, you have to understand the business and develop a plan for how to capitalize on opportunities. You may not have the capital to move forward, but if you are not prepared when an opportunity presents itself you will never see it.

Dream big and go for it. Worst case is that you fail and have to start over. But the ride will be a wild one that you will be proud to tell your grand kids about (never hear grandpa telling the story about how he took that safe job as an accountant).

 

Well if you pay the heating bill money CAN keep you warm at night.

 

No but seriously you should feel it out. See what you can with the business, learn everything you can. I'd even suggest going to work for some other companies and then coming back to work for the old man. Gain some perspective, find out what some guys are doing right, find out what others are doing wrong. It's not a bad industry to get into. Try to learn all the different aspects, learn transit time, trip planning, map reading, hours of service, load planning, working with brokers, working with customers, dedicated accounts, there is sooo much that I want to learn about this industry still.

Anyways, that's what I'd suggest.

 

THAT's what I did wrong. And here I was thinking that my own personal heater was out there somewhere on the road...