Starting a fleet

That 90% failure rate.....Is that backed up by actual math or us it just an urban legend? We get way too many people on here quoting statistics that they either made up in their head or heard at the lunch counter.
I know the failure rate is high but 90% seems a little steep.

 

I found this, yes 90% did sound steep to me too, but regardless, it's not good. Another study showed, 50% of new O/O's fail in the 1st year, and if they survive the 1st year, half of those will fail in the 2nd. Again, Chinatown posts so many good company jobs, and I realize pride has a lot to do with it, but these companies offer good, not great, pay, generally new equipment, AND a health ins. plan. I know for a fact, O/O all sounds great on paper, why I initially "went for it", but was quickly overwhelmed by things nobody told me.
https://www.quora.com/What-is-the-failure-rate-for-new-trucking-companies#:~:text=Brick loads pa-,The failure rate is around 90%.,that failure rate to continue.

 

All I found in that was anecdotal evidence...which is no evidence at all...and even more hearsay.. It's a fair start but it still doesn't back up the claim that 90% fail.
I agree that the failure rate is higher than it should be and I agree with you that too many people get into trucking for all the wrong reasons. Most of them have no idea of how to run a business. Driving the truck is the easy part.

 

How are we overregulated? It’s $300 and a down payment on your insurance to get authority. If anything it should be harder to get authority than it is now. I have letters to and from dad’s attorney when they would challenge someone’s filing for operating authority. When he passed away in the early 90’s mom sold the South Dakota intrastate authority for a little over $15k because it was next to impossible to get new.

It would be a boring world if we all thought the same. You’d rather be an employee and I’d rather work whenever I want. That’s what makes the world go around.

 

We should all be concerned with the megas since they're the ones paying Congress to pass laws that stifle our businesses.

 

The man is right! 3 Reefer setups. You need much more money than small 300k. 300 K is what I got in one rig situated how I like it. Add insurance and other things and you will be over 300k. Good insurance that pays out costs money. Don’t fall for insurance that advertise on XM radio how you have to have every t crossed or no payout. If your Reefer goes down that fruit will go bad. Truck breaks and that time sensitive load is late and rejected. - If your insurance doesn’t payout you may need some of that 300k. Same with your ice cream backhaul! Learn the biz first before diving into high risk freight is my suggestion. I wish you the best in your future endeavor sir. Fortuna Faviet Fortibus.

 

• Equipment for Sale
  

 

Not a good time to buy,the dealers need drug testing , this truck is $100,000 over sticker