I have been running independently for almost 3 years, mostly Toronto to Montreal and money is still out there just harder to find. As a new company, not many brokers will be willing to work with you. Therefore, here is my offer:
Invest $50,000 in a pre-construction home next year.
Keep $30,000 on the side
Give me $20,000 in exchange for my business that comes with:
1. Paid off trailer worth around $10,000 easily
2. All the running authorities (clean CVOR and great insurance)
3. A small customer list that will still pay you decent money on loads (LTL and TL)
4. You take over the lease payment on my Volvo. 15 more months of payments left.
ELD is coming next year and rates are anticipated to increase. If you don't like the work, in 15 months, you can sell the truck and get back what you paid me + more.
Bit sad to read this. You really have tried hard and it's a shame it's got you down.
OP, you should read previous posts by haider99 while you rush to take him up on a very nice offer. From memory he is an accountant who turned to this industry for similar reasons to yours, and with no experience either. While he's made a stack of costly mistakes he keeps getting up off the canvas again and again and personally I wish you had a business you valued at a price that reflects better the effort you've put into it.
Keep kissing frogs haider99, one day one will turn out to be a handsome prince like you deserve.
I dont think I have made costly mistakes since I got into this business. The reason why I want to get out is because of some reasons not industry related (mainly), which I dont want to share. The only fixed cost I have is the truck, which is running great. In these poor times, I still manage to do great and have a few good people giving me loads regularly at the old great rate. I am still beating the average
What he means "a race to the bottom" is: Unlike just about every other occupation in Canada, trucking rates/income has not stayed in par with inflation. Because of this fact, trucking has fallen out of favor for most Canadian-born drivers, as they can't afford to support a family on one individual income.
This shortfall caused by drivers permanently leaving the industry, has led to mass immigration (supported by the Liberal Government). At no fault of their own, these "new-Canadians" only want to work but are exploited by huge carriers to work for pre-1990 wages. These guilty carriers produce cut-throat rates within the industry and the frontline victim accommodating these bankrupt-level wages, are overwhelmingly "new-Canadians".
So... if you believe you can compete against these giants of transportation, you're dreaming.