Dump truck?

Buying a dump truck is not a good idea. It's very cut throat and competitive. Many of the jobs are through bid, and these guys have had the account for years, it's very tough to break into, at least it was. I don't see much of a change there. It's also the hardest thing for a truck, and you WILL be spending your weekends fixing what broke the week before. Can't help it, it's max weight over rough terrain most of the time. Plenty of company dump trucking jobs, but I'd never have my own dump truck.

 

If you are looking for a way to immediately break into the trucking industry as an owner, I would suggest against it. Work for someone else for a year **at least.**

Let someone else pay for your learning mistakes. Make sure you like the job, or at least that you do not dislike it.

If I misunderstood, and you do have experience, stick with what you know, or (again) work as an employee for a while to learn the new industry before you jump in.

 

Where are you planning on starting. It's not hard to break into the industry depending on where you live....but you need to work for someone else for at least a season. That's the other thing to think of....it's seasonal. In the twin cities there is more work than you can shake a stick at. Tris $87 Quads $95 Quint's $99

 

Well, its very important to know someone who is in the business and in the same location you are trying to start. So you wont have to learn the hard way, which in most cases, its too hard and you end up losing quite some money. First get the best truck you can get, dump trucks break more than other trucks so when you get a truck in not good condition, it will not let you make any money. Also look for factory dump truck. Here in miami must are day-cab converted which are never the same as factory dump truck. Good luck

 

Get work first. Get established with the locals.

The problem with a dump truck is you need work. Most people around here that are doing that line of work have a excavator or front end loader and will be doing a multitude of work. Tho the cheaper way to get started is to buy a dump trailer and at least a 3/4 ton truck to move it. I myselg bought a older dump trailer that has wiring/ axles/ welding issues for $600. I should be able to repair it for another 400. Then it will be worth $2500. Granted I also have a front end loader to boot. Yet I am not relying on this as a sole means of income. I will advertise on the local Facebook market in my area.

Good luck with your venture. Just remember everyone is broke right now. Good time to do servicing. Everyone is scared to get stuff done. My rig may only haul cow manure for the wifes garden in the fall. As well as gravel to repair the driveway. Yet at a grand, I dont have to worry about making payments on a lawn ornament.

 

SW Missouri only pays by the loaded miles. Then it is very competitive between $4-5.50 a mile. Some give the weight ticket from the quarry others charge on top of the quarry. My guy gets $4.50 a mile and collects only his mileage. I still have to pay the quarry. This reduces his 1099 reporting and accounting.I also claim my 11 acres as a home only so I do not have to give 1099's to independent contractors.

Then there is the self employed issues. Not real big but insurance, bonding, and self employed taxes can be overwhelming for some. The penalties for not making quarterly or monthly payments are high. Maintenance can be real expensive if you do not already have a guy.

All that aside some days you cannot find enough time to drive others there is not a load to be found. Ritchie Brothers is a great place to save on costs, but without a good mechanic to spot common issues you can also end up over paying. I love auctions and have almost always pulled a profit. Last great deal was a 2008 F350 from AT&T that in the end cost $2500 with a flatbed. I could easily sell it now for $7500 . The guy next to me bought one too and ended up spending $6500 to do the same repairs on top of the $1800 tab. He sold off everything he did not want and let go a $5000 220v generator that came with the truck. I kept mine and still made out well.

If I was young I would drive another's truck even if it meant getting paid with a 1099. Let someone else manage the bills until you get a few good contacts.