Help with new truck

What are your goals and what are you hoping to accomplish by getting into the business?

 

I don't want to be a downer, it can be done. It's not likely to happen with a single truck and trying to get multiple trucks when you're not familiar with the industry isn't the way I'd go either. To keep your maintenance costs lower you're going to need a quality driver. You get what you pay for in that department. @double yellow has a very detailed thread on what it took for him to get started. Also @blairandgretchen has a good thread. Both started with used, low cost trucks. You probably won't be able to do that because finding a good driver to run an old truck is unlikely with the trucks the larger companies can offer. Also while you're researching find out if in your state you can occupational accident insurance on an employee or if you need full worker's comp.

Is there a chance you could work with your friend? Will they let you put one truck on and you can work in the office? Maybe sign some kind of non-compete so he knows you won't poach customers if you leave. In my opinion I don't think it's wise to get your own authority until you're more familiar with the industry. I think if you get a truck that leasing on to a carrier to start would be best.

Just do your research. Don't go in blind. I know what it costs to run my truck, what I pay myself, and there's not enough left over to support another house besides mine. You will likely need to hold down a full time job of some sort until you have multiple trucks.

Best of luck to you.

 

By chance, is your broker friend named @Broker Bob?

 

I know of a woman who owned a truck with a hired driver. I believe she was a widow and basically hired a driver to take over the truck. The driver looked after everything and the owner took a few bucks for herself. She also worked at a job full time so I think that's the only reason it worked out. Her driver was an idiot though. Truck was at the shop I pulled wrenches at every weekend for just stupid stuff he wrecked through out the week.

 

You can. His start up figure was for everything to get rolling. Even if you finance a truck you still need tags, insurance, etc. If you lease to a carrier and they give you a fuel card it will lessen your start up costs. If you go on your own authority you'll need at least a month's worth of money in the bank while you wait for the checks to come in. You still have to buy fuel and pay your driver while you're waiting on your money. Also you will need a maintenance find. Stuff breaks and you have to pay for it.

 

It would definitely help if you're able to do your own maintenance at home if possible. Could save a couple grand in shop labour for things like oil changes, grease jobs and minor repairs.