General Advice or Critiques - I'm all ears

Hello,

Wanted to introduce myself and ask a few general questions and state some things in an effort to better understand the industry and driver culture as a whole.

I will preface these questions/statements with a few things in order to provide some context.

A few things to note before i hope in:

. I have never driven! I am not a driver and do not intend on being one at this moment. I currently have a desk job.
. I am in my early 30s and have been working in logistics/trucking for about 13 years now. I've dispatched for a large asset provider, worked in a brokerage arm of 2 other larger asset providers, worked within freight forwarding and have operational experience with dry vans, reefers, flatbeds, OD/over legal, and drayage. Looking to start with a flatbed trailer.
. It is not lost on me that the most important part of any trucking outfit is the person behind the wheel. I am assuming every driver here is trying to feed themselves and/or their family. Yes, there is money to be made but mutual respect and open communication with drivers is paramount. Paying people what they are worth and respecting their worth is very important to me.

With some context out of the way I wanted to ask some general questions for the drivers out there. Be it owner operators or the guys and gals running under larger companies here is what I am curious on:

1. This one is more for the owner ops or general owners out there. Am I nuts for trying to get a truck and a driver and running him or her from my office at home? The general vibe i get from seeing peoples' responses about small outfits is that the drivers are better off owning/running themselves and their own equipment. Does my industry knowledge, connections and general business acumen not go far here?

2. I know a lot of brokers require "X#" of months of active authority to run loads for them. Are you able to have an active authority and buy some time but not be on the road? I'm not worried about searching for loads or finding them, but i am concerned with the pitfalls of a new authority.

3. Recruiting Driver(s): This in all honesty is the hardest part. The people make or break a company. I plan on doing some sort of base salary with weekly mile incentives for the driver. CPM sounds nice in order to motivate drivers to run far but it does have its pitfalls with standby/detention. Thoughts on a pay system? How would you like to get paid? 401K and health insurance is a must for me for the driver. In reality I want a tenured driver but i know it will be hard to pull someone who's tenured who has a good set-up. What would it take you as a driver to switch to a new company? (as in the company is new)

4. I know there are so many other things involved like the truck, lanes, expenses, ELD, gas, maintenance. These are all things i am slowly working through. If you have any life saving tips on any of the above and anything in between i am all ears on that as well. The above 3 are certainly ones i need assistance from the crowd.

If you have read all this I appreciate you taking some time out of your day.

All feedback and critiques welcome. "Between the velvet lies There's a truth that's hard as steel" - Dio

Thank you in advance and stay safe out there.

TY,

- PK
B.C.C.

 

Thanks for the replies.

I have no capital allocated to this endeavor currently. I’m assuming it’s impossible to get a loan without something substantial like 70k as you mentioned.

I have worked with Schneider, Marten, a chemical broker similar to Univar and a freight forwarder similar to DSV.

What do I want out of this? Build a fleet and replace my full time job. Be my own boss. Be able to live off managing X number of trucks. Be somewhere people want to work. Give back to my community. But I know that takes many units and many years.

Maybe it’s a pipe dream but I’d figure I’d ask. Closed mouths don’t get fed.

 

You said what do I expect?
I expect to get my ### kicked the first few months. It may be unprofitable for a long time. Guess it’ll come to how much I can stomach. It’s not for the faint of heart. Running a business of any kind is an assumed risk.

 

Thank you for the transparency. Definitely going to sit and think about everything said here. I knew this was a large undertaking but your context has changed my calculus a bit.
Thanks for your time.