Ok im very new to trucking so i will also explain why i am doing this, I live in NJ and if anyone knows anything about NJ its very expensive to live here. Well i currently have a job delivering cakes for a pasty company driving a freightliner "sprinter truck" currently drive 14 hours a day and before that i worked for Krispy Kreme driving a 24" box truck about 16 hours a day. Driving doesnt bother me and i like the semi freedom that driving offers. My current pastry job has nice people but i can hardly support myself or my wife and child. I have been thinking things over and combing through jobs i could work for. i have found the trucking industry to be a double edged sword as they want to hire people with OTR exp. but offer to train new people as well. but the new people start with such a disadvantage that its hard to succeed in the industry. Well im going to the SBA with a business plan and model. im going to be requesting the startup money for around 300k. get a new frieghtliner "cascadia" and a new trailer. im getting my own authority also. now my rig im also putting a small custom sleeper on it that has a shower/bathroom combo but keeping the weight of the truck at 20,500 i plan on working 50 weeks out of the year only to spend 1 week of xmas with family and 1 week of turkey day also my wife and child will be comming with me because she doesn't want to leave my side witch is nice i plan on driving like this for about 4 years solid in hopes to earn enough to buy a house then run allot less after the 4th year just to cover bills. im staying away from the lease purchase that big companies offer because i heard way to many horror stories about them. so i was thinking this would be the best way for me to go. whats your input on my plan. i would like to hear from people with vast experience that could tell me if im going about this the right way or if im doing things completely wrong.
You sound extremely ambitious, i will give you that and i very much look forward to seeing the early comments on this one. I dont know but I think you might be shooting for the moon a liitle bit with trying to get $300,000 worth of financing and getting a tricked out Cascadia right out of the gates. You make me feel like a slacker thinking I would try and get started with 30-35K
Xanix, I am in no way an "expert", but what I just read, in my OWN opinion of course, it "pie in the sky". First of all, why would you take your child on the road in a truck? Kids dont belong living on the road, they belong in school and socializing with other kids their age. Not to mention, good luck keeping a kid entertained for a 14 hour (lets face it, even more than 14) work day? Buying a brand new truck? No idea if you are going to have the freight to make the payments? New trailer and payments TOO? I think you should read the owner operator section THOROUGHLY before you take anything to the SBA. Not to mention, with no experience, chances are your insurance will not allow you to drive more than 500 miles from home. Good luck!
300K works out to $6000 a month for five years, are you crazy or stupid? Raising a kid in a truck is child abuse, this is work, not play.
Am I the only one wondering where he is gonna get 300K from a bank, make enough per mile to cover the loans, and the truck/trailer payment together? Facts for you on buying new: Rates are bad right now. Just ask around any truckstop and on here. It is nearly impossible to get a loan with that amount and factor in interest. A brand new Utility 3000R reefer will cost approximately 56K A brand new Cascadia with 70in sleeper is averaging 110K for an 08; less if you pay cash. Thats 160K plus factor in insurance for you, IFTA, plates, own authority. Thats 1K and you have not fueled it up yet. Facts on buying used: A used 05 Freightliner Columbia/Century can be had for 35K with warranty included. Being a first time buyer, you qualify for freightliners first time buyer program. Last I checked they required 1K down and payments between 625-800 a month. A good used reefer can be had for 10K. Now thats around 50K, which is 3x as less compared to the new stuff. Granted, you will have breakdowns but you are saving your credit score, and will make money. Check on the threads on good used trucks. You can find some pretty good deals. Also, factor in insurance. YOU DO NOT WANT THIS MUCH DEBT. Go to a company and drive for a couple of years to save up the money. KH
IMO, DUDE you are "CLUELESS in NJ" you need to learn the business,gain the skill needed to drive the truck, read all that this site has to offer in terms of advice, wisdom.
hmmmmm.you all are right in what your saying 100% but i been down the road with sba , and good luck brother!!!!!its a nightmare !!!!and alot of redtape,and no gauretee of the loan,but i wont make the comment that the sba officer made to me it was funny and way to true im afraid,,,,good luck but i dont think your gona get what you want ,in all honesty.if you do i will be compleatly shocked!!!!!!!good luck brother your gona need it
