The Business Plan

That makes a lot more sense, with a good down payment the lender holds the asset as collateral in the case you can't pay, and the remaining owed on the truck will always be less than its actual value.

 

https://zenhabits.net/

 

You really need to learn how to use Google to search for information or the forums search feature and stop expecting users on here to spoon feed you info. You will find users on here more willing to help of you at least try to do some research on your own and have specific questions after doing so.

My last bit of help……

https://www.fmcsa.dot.gov/registration/get-mc-number-authority-operate

 

By the way motor carrier authority will require you have at least ladened liability and cargo insurance and for new applicants that will cost between 8,000 and $20,000 if you can even find someone willing to insure you. There are other insurances you may need like general liability and physical damage.

http://www.ooidatruckinsurance.com/default.asp lists some of the policy's needed for your won authority or running under someone else's authority.

 

One last link to help but as you will see trying to get into trucking as your own company without having any experience is not a short cut to success.
https://www.ooida.com/BenefitsServices/Services/docs/AuthorityBook.pdf

Find a company willing to hire you and work in the industry first, then start thinking about this.

 

You definitely need to drive for someone first and see if the business is for you. Also that will help you learn a business that isn't too kind.

 

I feel a business plan is a good guideline to show profit margins and expenses. I had to write one when I refinanced my rental properties and made it an "official" business. My gross margin is 50%, meaning I take in (assuming that everyone pays on time) double what I owe to the bank every month. Then I add in other expenses for general maintenance (long list) and what's left is profit to the business. I like when my profit exceeds my expectations, until tax time draws near...but that's another story.

All that being said, I had experience doing rentals before I decided to make it a side business. I've also been in trucking my whole life, always working as a company employee. No doubt my experience in the industry would go a long way if I ever started "Pintlehook Transfer".....I'd recommend, as others have already indicated, spending some time as a company driver, dispatcher, operations person, whatever BEFORE risking my own arse trying to be an owner. My 2 cents, probably only worth a penny!