Crunching The Numbers, Am I Missing Something?? (newb)

Tell him get in the nuclear program.

 

I don’t run team but don’t double a single persons income
It’s not normal to run like that. Might be a few scenarios but if a single can make say $100,000 then a team. Especially husband and wife it might be closer to $150,000
Just numbers out of the air but if you try and double that you might hate life

And keep doing what your doing. Asking
And I would get a handful of names and numbers from the companies you like and talk to drivers
Even names from those you might not want or qualify for
Don’t tell them no CDL. Just get some numbers and call those people for A) future reference and B) they might know more about companies you’re looking at

 

I’m curious about your situation as I am planning on doing something similar. My wife and I have enough saved for a new truck with a sleeper and this will be our final attempt in the workforce prior to full retirement. We as well plan on being completely independent but have ruled out expediting as this venture requires being out for too long and quite frankly the compensation isn’t attractive. Have you made any progress on your decision? Or have you bought a truck?

 

Under NO circumstances would I invest $175K in the trucking business and expect it to have any return on investment.
I sounds like you have little or no experience in the industry, getting leased to someone even with a paid for truck would be very difficult.
If you want to get your own DOT number it will be even harder to get the insurance coverage, or have any brokers trust you with their freight.

Invest the money in 2 year CD's which are paying almost 5% and keep the money intact.
Deliver Class A and C RV's if you want to travel the country.

 

I’m waiting for prices to come down and we are still a ways from making this happen. We have no experience in this field but will begin as owner operators from the gate. We value our autonomy and this in our opinion is the only way we’d do it. Seems like others have been successful by doing the same exact thing

 

It’s not wise , at all, to spend a ton of
Money buying into a business that you know nothing about .

you wouldn’t buy a pizza Restaraunt or a nail salon or a used car lot without having worked in the business and learned how to make a profit , would you ?

 

Wow so exciting! Congratulations on your decision and I wish you the very best of luck.

We’ve seen many of the videos on YT regarding expediting and while it is a good option for some, my wife and I decided that it’s not a good fit for us. The two primary reasons were 1)Time at home 2) solo driver load challenges 3) rate of pay. Since my wife will stay at home a majority of the time it would be difficult for me to be out for 2-3 months at a time. I prefer to stay out at max 2-3 weeks at a time and then return home. Since my wife will be home a good percentage of the time, this business mode isn’t beneficial in our case. Lastly, the pay isn’t the greatest given the amount of time required. Being an expeditor with nothing invested into equipment will require nearly all of my time and the most that I’d be able to earn would be between 2-3k per month net.

The idea of buying a truck is rather simple for us. We were already planning on buying an RV that was more expensive than a truck and sleeper and with the understanding that this expense would never generate a ROI other than personal enjoyment.

Us owning a non expediting truck provides us with tax advantages, increased earning potential, freedom/flexibility and the ability to pick up a larger variety of loads in any location with the added advantage of being able to go home as we please. And even if it doesn’t work out, we can always sell the truck prior to the warranty expiration. The truck will be paid off.

I realize that a lot of folks recommend working for somebody else initially but in our opinion it would be more advantageous to proceed on our own terms as O/O. Thankfully, my wife and I are prepared financially for this project and we are mature enough to handle what comes our way responsibly and to the best of our ability