Howdy ya'll making my own Company.

Discussion in 'Ask An Owner Operator' started by Newguy2004, Feb 24, 2022.

  1. Newguy2004

    Newguy2004 Bobtail Member

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    Feb 24, 2022
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    Howdy yall, my father has been in the industry for about 30 years. I am planning on making my own company and my father is supportive of it. My Business plan is quite simple, hire owner-operators and pay 90% but with no bonuses. I have a few questions.
    *Best factoring company(most reliable, and rate cheapest)?
    *How would I find Owner-operators.?
    *How do I build credibility because I never won and deliver a load?
    *What's My Liability?
    *What is all of the fee cost. (mainly rust belt states, northeast and the south(USA only)?
    *What are the holes in this plan?

    Any Criticism is welcomed, and much appreciated
     
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  3. wichris

    wichris Road Train Member

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    Obvious that you have no money to pay anyone if factoring is at the top of the list.
    Have to look for O/O's that will work not knowing if they will be paid.
    You have no idea on how to find loads.
    100%
    No idea what you're talking about
    All holes, nothing solid
     
  4. JoeyJunk

    JoeyJunk Road Train Member

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    Your dads 30 years is great but means nothing if he didn’t pass down all knowledge. The fact that he supports what you are doing with the questions you asked here are troubling to say the least. It really isn’t as easy as you like to make it sound. I’d say good luck, but then it may appear I’m supporting this awful idea.

    Here. Go run your own truck for 5 years. Then come back around and revisit your current plan. You know who the absolute worst Managemet is in the trucking industry????? Guys who never drove a truck.
     
  5. Newguy2004

    Newguy2004 Bobtail Member

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    Feb 24, 2022
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    My Dad is also a co-owner, He is going to help me then leave for retirement. I think I have this part down....
     
  6. Newguy2004

    Newguy2004 Bobtail Member

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    Feb 24, 2022
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    I can pay my drivers I have the capital low tens of thousands to throw money at the problem, It seems you can get loads from boards by contacting them. Also My dad who is a O/O is going to run for a while till we can get others. Now whats my holes?
     
  7. Siinman

    Siinman Road Train Member

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    One good week for one truck can make 10-15K with a dry van. You do not have the capital to run more than one truck.
     
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  8. Siinman

    Siinman Road Train Member

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    My last week of running and doing out of FL of all places I did 12,200 and that was easy to do.
     
  9. wichris

    wichris Road Train Member

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    If you have money to "throw" at a problem then why even mention factoring?
    Little bit you have won't go very far.
     
  10. JoeyJunk

    JoeyJunk Road Train Member

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    Solutions and good management fix problems, not money. You don’t have enough.
     
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  11. REO6205

    REO6205 Road Train Member

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    @Newguy2004 ...The guys are trying to tell you something. You need more of just about everything, experience, contacts, money, and a general knowledge of the business before you start off on your own. Why not run with your Dad for awhile and get a better idea of what you really need?

    One thing about this place...you'll get the advice you need even if it isn't the advice you want. That's a good thing
     
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