Need some advice on starting a trucking company.

I was asked a while back about this. I said if I was 25 again I would try to work under a successful fleet owner for maybe 10 to 15 years learning the ins and outs of making this work. Very few people make start ups work for much longer then 2 or 3 years.

^^^^^ nailed it. Doing business in general has more failures then not. Go study how many time Milton Hershey failed.

 

no way dude, that's like a slap in the face. What I do is warn people to really really think this out, with a high rate of failures, and what it has done to people by losing their life savings, their retirement and in a few cases their marriage and home, I would rather see people listen, plan and then to take baby steps into this to reduce the chances of failure, it makes it better for all of us.

The problem is most who get into this do not see the other side of it, the bad side until it happens to them.

AND by the way, I prescribe to the plenty theory, there is plenty of work to go around.

 

Actually Ridgeline is correct. Ive always explained that 100 People wanna drive a truck. Half cannot do it due to DOT medical etc. That leaves 50. Maybe 20 are gone from orientation due to drugs etc. That's 30. 10 will not make it any length of time due to disability, death or whatever. That's 20. Half will be fired within 90 days due to newbie smashing up. That's 10.

Out of that 10 you might have 5 after two years. God help you when two are left standing after 30.

 

I was just messin around. I know you guys have A LOT of knowledge and have been around the block a bunch of times.

 

It's all good. Im the one who is slow at the switch today.

 

I've been thinking about the same thing, starting a trucking company.
USDA loan guarantees go up to 25 million, with 60% being guaranteed. That should be enough to buy 50 new trucks, set up a terminal and hire staff.
Make it employee owned, esop, because as much fun as driving is, I'd rather be lounging on a beach somewhere in southeast asia.
Make the main terminal an independent truck stop as well. "Fatty's Truck Stop", named after myself. With an open "soy mouth" smile of me for the logo. Because, why not?
Since it's employee owned we'll do lease purchase in house for used trucks. Then we just expand across the country with our "Fatty's" soy smile logo truck stops/terminals.
Maybe contract with Mahindra to make our own brand of trucks.
Open mobile home parks across the country along with our truck stops so "hometime", and more revenue.
I'm going to the bank tomorrow, wish me luck.

 

if everything goes right for your business you can be bidding your autonomous electric trucks against the megas autonomous electric trucks in 10 years or so

 

Totally Stolen from us Boat builders. Very very very few boat building companies ever made any Real Money

 

"Fatty's Chrome Shop" will be selling caltrops.
But if the company is completely employee owned, then the employees will be the ones owning the autonomous trucks.