Average startup cost?

In 1996 I had $5K I put down on a $25K truck financed through Ryder, financed my insurance and purchased my equipment on a credit card(furniture moving equipment).
I had customers before I purchased the truck bc I went and talked to people to see if there was a need for my service, they said yes, so I hit the ground running.

 

You can do that as a company driver and make decent money with no real financial risk. And if you think you'll go wherever whenever and at your own pace touring the country because it's somehow different as an owner you would be mistaken. Customer service is the name of the game.

For me I just like this lifestyle. It has its moment's but it is still rewarding for me. I would say don't buy a truck before you know you really like doing this. The best times were the first times I was going on new roads all over the place. Namely some loads I did from Kentucky to western Canada. Absolutely loved it even though I was in a ratty old Volvo, I didn't care. It was awe inspiring the beauty of this country. Now it's a bit different, I like the business aspect if it more but still enjoy the driving just not to the same degree. It helps I have a very comfortable truck to drive and it looks kinda cool, especially at night.

In short; I would liken it to having robotic sex in an otherwise stale relationship.

 

Here were my costs, as they were relatively recent. May help in your planning.
Truck: 6 yrs old with 760k, 45k. I financed.
Oil analysis and dyno: 350
Premium2000, 5500, added to the loan.
Plates: Idaho, 2000
HUT, 500
LLC, 100
Bobtail insurance, 120 a month

Breakdowns in the first month, 4k and 8 days downtime. Premium2000 covered 2100 of it. Worth it, so far.

 

IMO, you need at least 3 months months of operating expenses, over and above startup cost. You do that and your long term success is astronomically higher.

 

I started with the down payment for my truck the highway use tax and truck ins. I leased my truck to my company so they got the tags. No passport. No twic. Llc less than 100. I still had my old job which I kept working at until the weekend I went to orientation. Working capital less than $1000.

Down payment $5000
Highway use $500
Truck insurance $250
Cash $900
Llc $50 online

 

Llc and passport is not part of the start up costs, the llc is part of the company expenses and is optional, the passport is a personal expense as is the cdl.

By the way be sure you know why you are forming an llc, becuase if you think it is going to protect your personal assets, it won't.

 

Making the decision took me about 6 months. Making it happen another year and a half. Lol