Starting a Trucking Company

There is a saying about trucking you would do well to think about. "the best way to make a million bucks in Trucking is to start out with two million." best advice find another way to invest your money.

 

Read the business news, not truck recruiter adds, business is slow and rates are down.
My guess is you will be in the red more than the price of the truck in 60 days.
A kid just out of a cdl mill can drive a new truck
Did you forget about a trailer, they come in handy for hauling freight.

 

To be perfectly honest about it, if you invest your money into a 1% CD, you would come out ahead of your trucking idea. And as a bonus you won't have to worry about being sued.

 

Am I doing it right?

 

he just told you so....

 

# 4...good luck with this, as you have no inherent idea of what you are doing. we cannot nor will not teach you all you need to know. you should have been a driver, to learn a few things. i see failure in your future.

you have "cash flow" now..>???

i hope you have enough for the huge amounts of insurance you WILL NEED, and the patience to deal with how the insurance company WILL DICTATE TO YOU, how to hire someone and run your business.

you need protection against the high dollar lawsuits, and you may very well want to have a lawyer on a retainer.

i see failure, and bankruptcy in your future, as you have no knowledge of the business, and that is what it is, a business, not a hobby......

 

I would bet that $14,500 on the field before going with the OP's plan.

 

IMO @ 800k unless it has been rebuilt recently, I would definitely have a rebuild in my plan. I have $20k set aside now for just the motor and mines sitting @ 90k miles since a reman. Because to me a blown motor seems like a pretty big show stopper...

Actually, just taking in a truck for several small things back to back @ $80-$100 an hour can quickly add up to a show stopper before you even get it able to pass a DOT inspection. Oh.... it has an air leak, Oh.. the wind shield washer fluid doesn't pump... WHAT! do you mean you want $2500 for 4 tires a drum and 4 sets of brake pads on just the trailer???? Followed by a fine for a light out and a low tire... but.. ....but they were okay on my pretrip, sir!
Wait how do you "really know" it is low you only kicked it you sum-mma-#$!@&... What? Oh, yeah, I can fix them both right here on the spot. Happy, happy, joy, joy!!! TA-DA!!! HUH???? Why the ticket??? There is no issue it's all FIXED!!! etc...


Big Toys = Big Bucks

If you don't have deep pockets stay on the bench, I believe that if at any time you have to go into debt to play the game, you've already lost. Without at least 100k initial debt free startup $$$ deposited into your company accounts and that much more just in case personal $$$ to invest. Even then it's sketchy.
Might be better off with lawn mowers, weed-eats and snow blowers on a trailer if ya catch my drift.

All is just my opinion, of course.

 

Some good advice you have been given, hopefully some of it sank in, but if you choose not to take said advice? Please don't come back here and scream "I've been screwed over", the driver did this!,the broker did that! All you will hear is, I TOLD YOU SO!