Big dreams with little knowledge.

Hello all. Thank you for taking the time to read my post and any info or advice you can spare is greatly appreciated. Let's begin. I'm 26 and I've started a new job as a diesel tech 3 at a reputable company and so far I'm loving my job so changing careers isn't what I want to do. But I do know that I'll never save up the capital to start my own business where I'm at. So what I'd like to do IF possible is if I can change my schedule to work 4 10hr shifts I could rent a truck to run under my own authority on the days I don't work. I know there's alot of variables that are in play and ill be honest I don't know them all. I'm not trying to get rich by all means but If i can see profit after paying my dues to the rental company and insurance along with evrything else then it would seem worth it to me in the long run. After some time assuming all is well I can approach a bank showing my competence for a business loan. My future business is related to diesel mechanics such as truck service shop.
TLDR : working full time wondering if possible to run authority via rental truck on the side for capital and credit for future business endeavors. Thank you all. Sorry for my ignorance.

 

Not gonna work as the cost for insurance and equipment is to high. You really need to run at least 5 days a week or very close to it.

But if you can do some side jobs fixing trucks and such on time off that would work. You could make some decent money doing that if you have the tools.

 

You can do it but it will be painful and unprofitable. Expenses don't pro-rate. With your own authority you'll need your own insurance. As a rookie with no experience that'll be more than $400/wk. Not clear on what you mean by, "rent a truck". Are you planning on just walking into Penske/Ryder and renting a truck for 3 days every week? There are issues with that.

The 40 hours on your other job will count against your HOS. You'll either have to take a 34 hour break every week to reset your clock or run on perpetual recaps. If you go the recap route you'll need to wait at least 10 hours after finishing your week at the other job before you start driving.

You'll need to find jobs that you can finish and get back to your starting point in under 30 hours. Not sure on how you're planning on booking jobs. Most brokers won't work with a brand new authority. Finding loads, booking loads, invoicing and accounts receivable will easily chew up a lot of time. IFTA, taxes and other compliance paperwork will chew up more.

Realistically, you'll be looking at close to 20 hours of drive time per week. That's IF you can find a load that week.

 

You are correct on the renting a truck part. Don't nnkw how to quote. New to platform. Thank you for your time I see which way I need to go then.

 

Okay well I'll just do this for a while and then transfer to running a truck. Ive got people that'd want to open up a shop with me so even if I start running a truck for capital I'm not losing the mechanics asset. It'll be long time but at least you guys have provided a directions. Much appreciated to you all

 

Your better off focusing on being the best mechanic you can be. You'll make more in the long run as a shop or mobile tech.

 

Not the first I've heard of that. Coworker said he did that for a year and made a #### ton of money (to me) but was working 80 hrs a week. If you got ambitions you gotta hustle for it not just talk it. He has a family so that's understandable.

 

Its one of those nich things that CAN work but is FAR more likely to bankrupt you. Your best bet would be to form a relasionship with a couple of nearby truckstops that dont have a shop in them, buy a somewhat nice looking used pickup or service truck and pack it with a bunch of tools parts and a couple advertisement signs and offer basic maintaince and repair to trucks in the lots. Lot of drivers who would happily buy a filter or get an APU oilchange for example from a traveling mechanic chargeing standard or slighly lower prices. Hell buy an oil vaccum and you could offer full services in the lots at a competititve rate and a lot of drivers would take you up on it.

 

The smart business sells the convenience, not the service per se. That's how brokers got to be so prevalent. When things are easy and convenient, they will come.

 

Bingo. There was a guy doing that at a ma and pa i stopped at a few months back. He was offering APU oil changes for a pretty competitive price. Got mine done for about $25 more then i could do it myself for. And the upside is i didnt need to get dirty or dispose of the oil. He also did a wheel seal for me for less then the peelot could do it for. And i am blatently stealing and shareing his idea.