So you want to "own " your own company

Forget it. Nobody will lend you money for a trucking business

 

Ooida has a couple of spreadsheets that can get you started. www.ooida.com. I don't remember whether you have to be a member to access the spreadsheets or not. You can download it to your computer and then play with the numbers. It isn't completely accurate, but will be a good start. We have also discussed some of the numbers on here and other trucking forums. I think that someone made a sticky on here. The spreadsheet is not a business plan, but a spreadsheet that you can plug in different numbers. A spreadsheet is only one element of a business plan. A business plan is a step by step guide that shows how you will get from point "A" to point "B." It doesn't need to be lengthly, but should have contingencies in case your plans or circumstances change.

 

I find OOIDA information wholly incomplete. The best resource I'm familiar with is an on line course "Introduction to Trucking Business":
Course description:

"The Introduction to Trucking Business." This is NOT a beginners’ course, but a course on how to operate your trucking company successfully in a changing industry.
Duration: 4 one-hour Sessions.

• Session One - “What’s Your BEP (Break-Even Point)?”Covers the hows and whys of figuring your Break-Even Point.
• Session Two - “A Capital Idea”How to determine your capitalization requirements in order to grow your company at a sustainable rate.
• Session Three - “Understanding Your Market” Helps you figure whether your chosen market will support your costs and growth needs.
• Session Four - “Determining Your Hauling Rate” Determine what your hauling rate range needs to be in order to be successful.

The course has worksheets and study guides and it provides other resources for putting together a business plan and marketing plan. http://www.truckersu.com/anytime-webcourses.php#IntroTruckingBus

 

Just trying to get my post count up.

 

The OOIDA spreadsheet is not a course, only a spreadsheet. It is a good basic way to determine what it costs to run a truck. It isn't perfect, but is a good start for those who have never owned a truck. And the best part is that it is free. I don't know anything about the books you are selling, but for someone who doesn't want to spend a lot of money to find out whether they can afford to buy a truck, the OOIDA spreadsheet is a good start.

 

It is hard getting a loan for a start up but after you get established they will start throwing money at you My bank calls me a couple times a month wanting me to come in to see what they can do for me. And I have had some finance companies that I applied for SBL to get started call me wanting to give me a loan. Most banks want you to establish yourself without money then they will give you some. Heck if I am established I dont need you money now

 

The old joke is that banks hand out umbrellas when it's sunny and ask for them back when it starts to rain. Rule #1 in finance is that you should take the money when it's available and usually when you don't need it, because it won't be there when you DO need it.

 

People must remember free is good for some things. However, if you are looking to go into business you must invest in knowledge. The Intro to Trucking Business course helps you assemble the information for your Micro-business plan. It's a starting point.

Fact: The current life expectancy of a new single pony truck operation is less than 14 months. Main causes of failure: low cash flow and no definitive business plan on how the trucker is going to develop freight lanes and loads with the needed revenue to cover costs and make a profit, another cause is the trucker tries to use profits to pay himself rather than establishing a draw or salary as an expense. A misconception that many have starting out is they can sustain and grow their carrier off the load-boards. The business plan is the best way to know if an operation has a chance at success.

If any one is interested, and you qualify, I have a program where you can begin as a lease operator earning 90% (with your own trailer) and in a year to 18 months you get your own authority hauling for the same customers and same freight lanes as you did during the lease. In addition, the customers become your customers. The catch is you must qualify both financially and have a certain level of business knowledge. You must also have a tractor 2003 or newer. Only about 1 in 20 actually qualifies.

We're very low key about this program ,have a dozen truckers in it currently[FONT=&quot][/FONT]. We take each participant and work to develop their lanes and customer base before we move on to taking the next trucker. Our motto Is failure is not an option. There is no fee on my behalf to anyone. I receive compensation from completely different source and that compensation only occurs if the truckers we bring aboard are successful. New concept for a changing industry.

 

Quick question about tractor selection. I am deciding what type of power unit I would like to run as far as set up and manufacturer, options, etc. I was curious if there was any good reliable sources of information disclosing tractor specs. No amount of information is too much. I am looking for not only different powerplant and trans options, but small things like turning radius, wheelbases, tare weight, maintenance schedules for said tractors if PM varies from tractor to tractor, and so fourth. Anything I can get my hands on would be helpful. I dont mind doing a lot of digging and searching on my own and the more informed I can be the better off I am. Maybe all this is overkill and Im overlooking some more important issues, but its 2:30am and my brain is already alseep....Its just waiting for my body to follow suite. And sorry if this could have been put in a better thread. Im only really posting this cause I had to edit this post. I still donno how to use the quote buttons very well, but my next post sums up how I feel. Any help is appreciated. Thank you guys for such a #### good site!!!!!!!!!!!!!!!!!!