So you want to "own " your own company

Discussion in 'Ask An Owner Operator' started by NightWind, Nov 16, 2006.

  1. warp9now

    warp9now Bobtail Member

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    Does anyone know if Wisconsin charges sales tax? Is there a magic list somewhere online?
     
  2. mp4694330

    mp4694330 Road Train Member

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  3. Battle Born

    Battle Born Heavy Load Member

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    This is is exactly what I was looking for. Thanks Oscar!
     
  4. Jaydee1973

    Jaydee1973 Bobtail Member

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    How much do you think you need in total to be safe to buy your own truck and have enough for the 3 to 6 months as you stated? I can't figure out how to write a post on this site but I'm looking into what exactly it would take thanks
     
  5. magnum2

    magnum2 Light Load Member

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    New truck $135,000+, trailer is $45,000, bills and msc per month about $7500. = you reserve. : )
     
  6. T-BoneX

    T-BoneX Light Load Member

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    Would it it be a safe bet to have enough saved for 3-6 months of: tractor/Trailor payments, fuel, insurance, bills at home/food?

    also when just starting out would you recommend buying/financing your own rig and then leasing the tractor onto a company?
     
  7. rollin coal

    rollin coal Road Train Member

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    That would be the surest, but still not a given, way to set yourself up for success. Money management is your most important skill. If you can't save any money you shouldn't buy a truck. As far as financing then leasing to a company. Nothing wrong with that either as long as it's a good company paying on percentage. Still say all cash in is the only way to go but if you're able to finance still having that 3-6 months cushion you should be ok. I would also add in fully funded maintenance account a over those 3-6 months expenses. In my case that's $25,000 on the sideline.
     
    whoopNride and knuckledragger Thank this.
  8. T-BoneX

    T-BoneX Light Load Member

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    $25000 total, or $25000 on top of the 3-6 months of the everything else?

    #### this is so much saving lol
     
  9. T-BoneX

    T-BoneX Light Load Member

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    Also do you have any recommendations on company's that pay percent and are well established? Just to add another thing to be studying for
     
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  10. rollin coal

    rollin coal Road Train Member

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    $25,000 is only the maintenance fund for the equipment. I didn't start out with that much and I #### near went broke in less than 2 months. Lessons can be expensive especially when you're green. I never recommend companies. Personally I don't think most wannabes are ready to deal with the business part and they'll blame everyone but #1 for the failure.
     
    RedForeman Thanks this.