Have 80K to invest and want to start a trucking company looking for advice

You have no first hand experience with dispatch, maintenance, how the trucks operate, some experience with brokering, and sounds like limited general knowledge of the industry as a whole. you have $80,000 in start up capital, and no idea where to start. about sum up your situation?

Youre going to need people to fill in your knowledge gaps, and people you can trust to not burn that capital in a month or so. Good luck with that

 

I think Ed has a point (to a point) regarding your knowledge. Look at it like this ... there are drivers who have many years driving experience, including owner ops, who don't have a "general knowledge" of each segment. I work with a driver (tanker) who has been driving tank for 38 years. A wealth of information unto his own when it comes to tankers. What he knows about flatbed and reefer could be summed up in a paragraph or two. What you really need is a SOUND knowledge (as opposed to GENERAL knowledge) of the business you want to begin. It sounds as if your mind is made up which is one reason I suggested a moving company. The learning curve is MUCH more forgiving than the other segments you mention.

 

not4hire, Different username on that thread, but sounds exactly like the OP.

ARMYGUY1152, You have to realize that to say you have decent general knowledge of the industry, including you saying you're "aware of the process of brokering loads and everything associated with that", then it begs the question as to how you would have to ask about the basics such as flatbed vs dry van vs reefer.

I will say this, and I tend to believe this is the case here... (and I mean no insult with it)
If you greatly overestimate your knowledge in attempting to start a trucking business, your "pride" will soon show you a very empty bank account.
I suggest you be brutally honest about your deficiencies, as well as your acquired knowledge thus far.

I can assure you, you can get boatloads of help here by experienced O/O's, but only if you communicate fully and honestly.

 

80 grand sure does go fast in this industry.

 

Some of these ol boys on this forum could write you twenty books on the complexities of owning a truck fleet, regardless of its size.

 

Purchase 80,000 lottery tickets, your chances are better.. Yes that is meant as a joke but if you have no idea about the trucking/logistics industry then it is a viable option.

Join the OOIDA and also take a general business class at a community college. Look for a mentor in your city that is willing to share info so you know what you are getting into. The SBA has some good info for new start ups. Keep your $80K in a savings account untill you are sure you are ready to risk it.

 

Take your money to Vegas and play the slots, your chances are better of actually making money. if you don't have a driver that has in writing he will drive for you don't even think about it.