You've heard the question asked..."How do I make a million dollars in trucking"? "Start out with two million and stop when you've lost all but one million!" This is a tough industry based on many markets, factors, industries, and really world trends. I would say you really need to find someone who has industry experience, which will be very tough to find someone you trust, that's not just this industry but any industry. So I would take the advice FLATBED gave and find a small outfit already established and learn from an experienced team who has already done it and improve on their start. All business is tough, nothing is easy any more, always be smart with your business, policies, and financial well being and you'd be surprised with what you can make out of this business. Good luck!
How to Start a Trucking Company with no knowledge about the Trucking Industry
Discussion in 'Ask An Owner Operator' started by aminzifor, May 1, 2015.
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I was in the same boat, after reading this forum decided to go drive a truck first. After 6 months I am getting my authority. Don't have few years of experience, but I am much more prepared than I was earlier
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I don't know for sure if there is a great return on investment, but when I used to work for the state of Indiana I realized that most of the single operator trucking companies that used to operate Intrastate would convert to Interstate in a couple of years; this led me to believe that business was good. I could also see an increase in number or vehicles for a good number of the operators.
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Thank you immensely for the reply. It is becoming a little clearer how to proceed
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Don't listen to them. You run a truck company not run a truck! So actually what you need to know is trucker, not truck.
simplely, you only need to know how to draw them a picture to earn money or own a truck. Keep them busy, cheat their money, promise them they will be a great OO. That is enough to be successful.
Do you think the boss need drive a truck?That is dummy.Find cheap loads,keep them busy, take them 25%, give them fuel card, no force dispatch,pay after deliver, have Lease program.They will think they are free, get money 3 times a day, have thousands cash in their pockek( normally they will think gross is what they earn), tell them you will treat them like family.
Lol just lie enough with a lot of money can run a great reputation truck company. -
I would buy a few trucks, no trailers, and lease them on to a mega carrier. The mega carrier will help you find drivers too. And they will do all the small stuff that you're not familiar with, like permits, registration, IFTA, insurance.etc. Since YOU own the trucks, YOU have complete say on maintenance and drivers etc. They will find you freight etc. After a period of time, you can re-evaluate the situation. If you're not happy, you can pull your trucks (that you own, right ?) from the mega carrier and sell them, or, stay in business and buy some trailers. At that point, you will have learned about 50-60% of the business side of trucking. This is better than buying trucks and jumping in head first without any knowledge of the business. I once worked for a guy who had never driven a truck, but he was smart as a cookie. And so tight, he squeaked when he walked ! But it was ingenious how he became an Int'l dealer just so he could buy trucks at dealer costs, rather than buying them at customer costs. And he ran the company with no "managers" doing anything. He only had 60 trucks. My point is he was on top of every facet of his business, even signing the payroll checks himself.
gentran Thanks this. -
Thanks @Allow Me for the advise. I think I know much about the paper work that is involved; I actually wrote the computer programs that do most of the IFTA and IRP taxes for the state of Indiana. I just don't know about stuff like drivers, loads, routes, etc.
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ChromeNut Thanks this.
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Just my take on it good luck if you decide to proceed but if you are just looking for a place to park some money while you continue your day job there are safer less risky investments that you can make that don't come with the headache of running a trucking business. -
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