I Want to Start an LLC and Buy a New Truck, but...

Regarding the truck payment, I won't need a loan for the truck - so that's good news. I've don't pretty good w/ my current occupation, which I would like to keep even if I invest in a truck.

By the way, "wow" regarding your rates. What makes you so much more expensive? I'm guessing it's the fact that you're conscientious about caring for the equipment, driving safely, doing a good job, and knowing all the best routes!

 

Started in 1988.
Never had those fears because I was wary of the size/weight factor.

Over the years, people have began driving much more recklessly around us and we have had to adapt further to watch for them.. and expect stupidity.

It's almost always going to be pointed at the trucker because he's the Pro.

It's a mindset.

 

Nice... thanks man.

 

If you think that's a week worth of work you'll be deliriously disenfranchised when you find out how long it'd actually take.

 

Dang, I didn’t know it was that easy? I’ve wasted 30 years! Get back to us after that fifth or sixth team you have had working for you. Teams do not grow on trees, and good ones will want health insurance and other benefits along with top pay.

As far as those rates, what are you going to haul out of those areas? That is the reason for the rates. And to be honest, those rates kind of suck.

 

really??

Another one.

OK??

How much do you have saved?

Seriously ... $150k? ... $250k? ... 500K?

Why an LLC?

If you think asset protection, think again.

Honestly, that's kind of dumb.

Hiring is a skill itself without a background of how this all works and first hand knowledge, you won't find people who will work for you and make you money, they will cost you money.

Why do you think team operations make more money - it is obvious you have an opinion about this, but it is wrong.

No it isn't viable without good skills in both management and experience in the industry.

Many of these one and two truck operations fail within the first two years, most never see it past 5, and with the turnover rates with drivers and trucks, you are better off investing in a business that has a solid reputation of returning more than 12 or 14% ROI.

That's the wrong point of view - money.

Load boards don't show the real revenue flow, there is a lot more into it than that and it takes time to learn while you are in the industry.

Yeah it makes it look we are all millionaires by buying a truck of two and running load board freight.

Who told you that?

It wasn't those here ... a lot of owners, not truckers, do know their business very well, it is intuition that drives them after years of being on the road.

Run??

It is less risky than a trucking company owned and run by someone who never spent time on the road.

Lower?

8 to 15% is the norm, any lower than 8 and the company is either mis-managed, meaning ready to go under or it has a lot of capital expenditures during the fiscal year.

Mine is above 8.5% and it is because my reinvestment of profits are into the drivers, not into my pocket. If I cut all the special benefits from the drivers, then I could see 16% out of it.

Yeah, after all these years in different businesses, knowing how to hire, leveraging debt to grow, buying other fleets for the past 14 years, I still guess I am doing it all wrong as you are.

 

Are you serious??? Those rates seem amazing. And, I'm not sure what's being shipped out of those locations/areas. It's my understanding that you just back-up, pick up the load and keep it moving. Who cares what's in the container / trailer!?

 

My issue is that first off, a solo would not be able to do all of that in a week. Second, I am not a fan of big deadheads. Deadheading hundreds of miles to get a load is not always smart. That's plenty of time for the broker to find someone else closer or to haul it for cheaper. You have one that's over 300 miles deadhead. It seems like the brokers only compensate for the loaded miles. It's more sensible to shorten deadheads. Then you won't cut into your profitability for the week. It would have be literally nothing in that area for me to make a bug deadhead. I know people say they won't haul cheap freight but the reality is, sometimes you have to. They can just be used to pay fuel. 15000 is a number you would not see every week for a team, more like periodically

 

Did you download the trucker path load board?

 

Can I accomplish this the first year or will it take two?