I need your opinions on this idea I have.

You want money the easy way, without the work. That alone makes you a rent-seeking pariah on society.

Look around you, truck drivers are drawn from the public at large, theres good ones, bad ones and everything in between. Couple that with a truck and trailer and all the mechanical issues that can crop up on anything with tires, its not a recipe for getting rich quick or else everyone would do it. The fact that people driving their own equipment frequently have a hard time making it work should tell us it takes more than just hiring a driver and buying a truck to sit back and make money.

Show us you can run 1 truck on your own, we MIGHT take you seriously. Until you do that, you have no buisness hiring someone to drive a vehicle that you havent the slightest idea as to how functions

Good day sir or maam, please go away

 

It will work fine, if you don't quit your day job. By the time you put money towards truck, insurance, tires, maintenance, and driver pay, how many pennies per mile will you be left with? You need to scale it up to feed yourself. Hence the five million.

Or you can start the company driving yourself, and slowly add trucks as you need capacity. Takes longer, and you'll still spend the five million, but you won't have to put it up all at once.

 

What happens when the driver comes home and says I quit.
Do you think you will find a new driver that day.
You will still have a truck payment and insurance.
How much money do you think you will make?

 

The owner had zero experience in trucking.

 

The average trucking company only shows a 4-5 percent profit margin.
If you can get a decent contract on with a direct supplier it can work.
To just go on the open board would be tough.

 

You came in here and asked a question, then disappeared very shortly after. Flew in flew out..
Now on to the other question,

If you're looking into starting a trucking company, you need to educate yourself.
Running a profitable trucking company is going to take hours out of your day just finding loads for the guys to haul. Then, there are taxes, getting those guys to a shop for maintenance, having the backbone to fire an idiot, and you'll need to know how to properly hire a driver. More things than I care to mention really.
Then your driver maybe 2or3 are going to have breakdowns, probably in the middle of the night or on holiday or your kids bar mitzvah and you have to drop everything to get him at least on the way to a shop. Then there might be rejected product that you might to eat the cost for, because the truck broke down
What are going to do in case of a wreck?
These things are expensive and for most trucking companies, it's a death nail. that's the reason skallagame told you that you needed $5 mil. There was a little sarcasm in that reply, but, in reality he's probably close to being right.
If you have the money, buy a truck and drive it yourself for a while. Leasing is insane and will eat almost all of your profit.
Also, bad drivers will let you down all of the time and break equipment.

 

As an O/O i can tell you that is a HORRIBLE idea. Others have covered many reasons but trucks dont make a ton of money individually. Sure that $20K a month you see as income looks impressive but that is before the $8000 in fuel, the easily $1000-1500 a month insurance as a new unproven company, Your monthly payment for the truck of around $1500-2000, the $1000-2000 for the trailer, the $300 oil change, the $500 you likely need to put aside for tires and repairs, the $700 for all the odds and ends you will need like load boards, eld subs, tolls and so on. Not to mention the drivers pay of around $6000 which includes the taxes YOU are responsible for such as medicare or SS and the like and oh look you made $500 at best.

Granted thats a worst case situation but not at all an unrealistic one. And combine that with your lack of knowledge of the industry and you have a better then 90% chance of hireing a bad driver who would kill your rig or put you on the hook for a massive wreck. And being constantly bent over for even minor repairs and maintaince.

Hell ive been a driver for YEARS and come from a family where i am literally a 5th generation driver with a half dozen sucessful O/Os who are family i can turn to. And went into being an O/O with a huge warchest to start up.

I still struggled to break even this month god forbid keep anything for ME and am still tottering until things stabilize from all the upheaval in my finances starting this two months later and i PLANNED for that. How are you with no experince going to survive? i am not saying this to be an ### far from it. You need to know what you are signing up for. Its not as easy as "hay guys ima get a truck and driver and kick back" there is a reason that likely at LEAST 60% of all O/Os go bankrupt.