Future Owner not Operator

Discussion in 'Ask An Owner Operator' started by Cambino12, Jan 19, 2022.

  1. Cambino12

    Cambino12 Bobtail Member

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    Jan 19, 2022
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    A family friend has a trucking company as a side business(he has 2 trucks and 2 drivers already) and would like me to invest a truck into his company( purchase a truck and put it under his authority). He advised he would handle all of the hiring and business of the truck and would only call me if there's a maintenance issue or when bills were due. I have about 20k for start-up cost. I just would like to know if this is a wise investment or if I should put this money elsewhere. He did advise me on the monthly cost and a rough estimate on how much I would make monthly (5k on a "bad" month and up to 15k on a "good month"). I'd just like some outside opinions please.
     
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  3. LoneRanger

    LoneRanger Road Train Member

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    Another one.

    listen if he’s making money then he doesn’t need you to add trucks to his fleet. He has no obligation to look after your trucks. He will load his trucks first before he loads yours.

    if you can’t figure that out go for it.
     
  4. Dino soar

    Dino soar Road Train Member

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    This is a bad idea on so many levels I can't even explain it to you.

    Do you realize that purchasing a truck is at an all-time high right now? $20,000 is nothing, that won't even get you through the first real break down, let alone get you into any real truck. Nowadays that's like a down payment.

    Think about this. You're going to take all of your hard-earned money that you saved, buy a truck, hand it over to someone else not knowing anything about anything that's going on with any of it, and they're going to tell you what you're making or not making.

    There is so much that goes into this I can't even begin to explain it to you.

    But I applaud you for coming on here and asking before you did it. It's a really bad idea, but you coming here to ask people that know this business is very intelligent.
     
  5. Grumppy

    Grumppy Trucker Forum STAFF Staff Member

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    One word............


    NO!!!
     
  6. Midwest Trucker

    Midwest Trucker Road Train Member

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    Very unwise. Let the bank or his own profits allow him to expand. Oh wait... neither is possible. Why do you think that is?

    After thinking about that do you think you’ll make your 5 to 15k per month?
     
  7. Mattflat362

    Mattflat362 Road Train Member

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    I would seriously be questioning the word, "friend", here!
     
  8. Eddiec

    Eddiec Road Train Member

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    I would rather invest the money in crypto and keep the friendship
     
  9. shatteredsquare

    shatteredsquare Road Train Member

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    won't be for long!

    invest in your own
     
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  10. TROOPER to TRUCKER

    TROOPER to TRUCKER Anything Is Possible

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    My simple rule of life. Never go into a business venture with family or friends.
     
    Last edited: Jan 19, 2022
  11. Long FLD

    Long FLD Road Train Member

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    If everything is going so great your friend wouldn’t need you to finance a truck for him.
     
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