Advice on start up

Discussion in 'Experienced Truckers' Advice' started by Usmcmcl01, Apr 1, 2017.

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  1. Apr 1, 2017 #1
    Usmcmcl01

    Usmcmcl01 Bobtail Member

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    I am asking for advice regarding initial start up costs, insuarnces required, pros and cons of produce vs. Dry van freight, best brokers to work with, expected delay until paid after delivery, driver health care costs, etc.

    I was a dry van trucker many years ago (company driver). I am gainfully employed in another industry but have always wanted to start a transportation company. I can afford to purchase a newer used truck outright and know a reliable professional driver in the family who is willing to drive for me.

    I am not naive to think I will purchase a truck and sit back to see it begin raining money. I am blessed to have another source of income. My intention is to start a business in which I have the freedom to reinvest all revenue. I would like my boys to have a head start with a business of their own when they come of age.

    Thanks folks. Any thoughts would be much appreciated.
     
    Usmcmcl01, Apr 1, 2017
    Usmcmcl01, Apr 1, 2017
    #1
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  3. Apr 1, 2017 #2
    Ridgeline

    Ridgeline Road Train Member

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    Never ever ever hire a family member.

    This is a business that needs hands on management until you can afford to hire someone to manage it for you. I hired a manager who is on call 24/7 so I don't worry about things, he makes really good money managing my company and another one - he is not exclusive.
     
    Ridgeline, Apr 1, 2017
    Ridgeline, Apr 1, 2017
    #2
    SingingWolf Thanks this.
  4. Apr 1, 2017 #3
    Usmcmcl01

    Usmcmcl01 Bobtail Member

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    I appreciate the advice. That's 1 reason I was asking about brokers. If I can get in with a trusted broker to keep me in loads that will be less I need to worry about. I actually have the freedom to be hands on even though I work another career. I set my own schedule and time for the most part. How did you determine compensation for your manager? Percentage?
     
    Usmcmcl01, Apr 1, 2017
    Usmcmcl01, Apr 1, 2017
    #3
  5. Apr 1, 2017 #4
    Ridgeline

    Ridgeline Road Train Member

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    Didn't you just start this somewhere else?
     
    Ridgeline, Apr 1, 2017
    Ridgeline, Apr 1, 2017
    #4
  7. Apr 1, 2017 #5
    Ridgeline

    Ridgeline Road Train Member

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    He works on contract, he gets a percentage of gross tiered for the amount of trucks he manages - the more, the percentage drops.

    I leased most of my trucks to other companies, they take care of the back end and looking for loads. To me my model is not to manage that stuff, but focus on the important things, the 15% to 20% that people think they lose makes up for the time involved with back office (billing) and locating work.
     
    Ridgeline, Apr 1, 2017
    Ridgeline, Apr 1, 2017
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    Usmcmcl01 Thanks this.
  8. Apr 1, 2017 #6
    ibcalm19

    ibcalm19 Road Train Member

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    The first thing I would research is the insurance cost to start a new trucking business. Right now there are not to many options maybe one or two companies. The health care cost for your driver. If I was starting out the way the market is right now. I would lease onto a company & go from there. Some broker won't work with you with a new authority.
     
    ibcalm19, Apr 1, 2017
    ibcalm19, Apr 1, 2017
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    Usmcmcl01 Thanks this.
  9. Apr 1, 2017 #7
    passingthru69

    passingthru69 Road Train Member

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    :happy1::happy1: this might get interesting
    This makes how many times this has been asked one way or another
     
    passingthru69, Apr 1, 2017
    passingthru69, Apr 1, 2017
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    Toomanybikes, gokiddogo and cnsper Thank this.
  10. Apr 1, 2017 #8
    Usmcmcl01

    Usmcmcl01 Bobtail Member

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    First time I've asked. Do you have anything useful to offer?
     
    Usmcmcl01, Apr 1, 2017
    Usmcmcl01, Apr 1, 2017
    #8
  11. Apr 1, 2017 #9
    Liquidforce

    Liquidforce Light Load Member

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    It's possible that he is suggesting to use the search function first, this isn't the first thread on this topic.
     
    Liquidforce, Apr 1, 2017
    Liquidforce, Apr 1, 2017
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