May be of interest to those, both new and old... I've lost my marbles, and it's now time to own! Almost 20 years off and on in various aspects of this industry, with a good history. Started at the very bottom.
Just a breakdown, initially...
NSC registration, $200.
Registering a business name, $35. More to come with that, since I'll need a business license, GST #, etc.
Parking: About $250/month.
Insurance: About $8,500+/year.
Fuel costs: Local work. Could be nothing, could run hard, depending on job.
Making $300/year more than I'm currently making as a company driver?: Idiotic!
Having my name on the side of a KW W900?: Priceless!
Yes, I am losing my marbles! I'm afraid I'm too far gone for referrals to a shrink... There's no stopping me now!
Time For Some Next Level Schlitz!
Discussion in 'Canadian Truckers Forum' started by Mr. Premium, Aug 11, 2016.
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Doctor Evil Voice: "Now I can make one hundred MILLION dollars"...
Honestly, you'll need funds. At least six figures to buy non-crap equipment. Payments from customers? Somehow 30 days turned into 90 days (or more). Customers know this. Better have credit for the thousands in fuel you'll bill to your Visa.
Engine blows? Better have upwards of a $20,000 limit on that Visa also...
Oh yes! Maybe I should see a shrink... -
Don't start with a W900. That's a formula for failure. Especially if you have no experience with them.
Start with a $15K-25K truck. Something that's seen a lot of miles, but has a good 100-200 thousand left in her. Something in the 2000-2004 range. Volvo VNL, Freightliner Century or International 9100. You won't find a good Pete or KW for that cheap because the people who own those know they are worth something to a lot of people. And one's that are that cheap are going to cost you the difference in maintenance.
Then, once you have the truck picked, have the cost of that truck in savings, in case the one you buy has a catastrophic failure and you need to buy a new one (repairing them isn't worth it).
After all that is settled, DO SO MUCH RESEARCH that your head explodes. Oil tests, rigdig, VIN checks, etc. Find out if the truck has seen accidents. Find out if it's been properly maintained at a dealer or in someone's backyard. Do everything you can to prevent a $5000-7000 repair in the first 6 months.
Beyond that, I'd recommend going over to the O/O board and asking so many questions, they get annoyed. Learn everything you can before making a costly mistake. The sheer fact you don't even have plates and permits in your budgeted cost list leads me to believe you have a long road ahead of you for learning about owning your own business.
It is VERY hard for O/O's to even break even these days. Mega carriers, the government, the DOT and shippers are doing everything in their power to push O/O's out of business. 30 years ago, owning your own truck was simple. Now it's a test in patience and sanity. Either way, I wish you the best of luck!Macneil Thanks this. -
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NSC test: passed. My name on the door: passed. Insurance, business registry, business licence, and all the other crap: PASSED!
I seriously think I need a shrink! -
I do different work than a lot of you guys here. I've done highway for a couple of years, but didn't like it after the novelty wore off. Local for the last years, in varying degrees. I've almost done it all! You name it, I've probably done it!
I like gravel hauling, for some odd reason. Perhaps a childhood fascination with playing in the dirt.
Nonetheless, I now own a truck and pony.
Besides, there has to be a few of us token white guys still in the industry, no?
LOLZ! Get me the number for the shrink! -
W900 is nothing for me to handle...
I've run mixers with twin steers for a while, and THOSE suckers don't turn very well. W900 is easy, if you're aware of your surroundings.
Pedestrians and cars can get blocked out easy. My truck doesn't have "daylight doors," which can compound the problem, but it just means you have to be that much more attentive to your surroundings.
Started driving commercial at 19 years of age... 20 years later I now feel confident to own my own. -
The best part is, is that if you have a problem with me, I'll forward it to the boss...
LOLZA!austinmike Thanks this. -
Good luck Mr. Premium.
Mr. Premium Thanks this. -
Thanks! I'll certainly need it in this economic climate!
Connections, connections, connections!
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