That didn’t take long

I was wondering by the picture i saw as to whether it gave off that Buccee’s vibe of no trucks allowed because of the way the frontage road side of the place was laid out. Sound’s like it was.
Ultimately it sounds like as usual the investors wanted their return money now and not later so the real bills could not be paid after they were.

 

Fixed a tire for a friend’s son on Monday. Wasn’t gonna take payment but he gave me a $5 scratch off winner. Lol.

 

1 billion mega jackpot

 

A truck stop on rented land?

 

That's why it failed. You don't lease/rent the land to start this type of business.

Wait?!?

This was about truckers, not musicians. This is another reason why they failed - mission creep.

 

Always seems to be the rank and file are left holding the bag, the empty bag.

 

I think it was more they overestimated the revenue and underestimated recurring overhead.

If they based their numbers off a 'standard' independent truck stop then their fuel projections would be way off. They didn't have a tank feeding pumps on a fuel island. It was mobile fueling - park and they came to you, which is more labor intensive (driver with cdl and hazmat) and would have higher infrastructure costs to pump the same volume of fuel.

They also probably went the cheap route as they installed infrastructure - ie "Oh, these Internationals with Maxforce engines are so much cheaper, I'm sure they'll do fine", and then found out the difference between 'cheap' and 'low cost'.

I doubt they considered the 'free rider problem' - most trucks don't buy more than a cup of coffee at the location they overnight at.

On a project like this Investors don't put up all the cash at once. a $300,000 investment might be broken up with $100,000 initially and then $50,000 a every quarter. If they projected that the project would be revenue neutral within a year and showing a profit in three years (not unreasonable for most businesses), but at 6 months they've burned through the startup capital and aren't anywhere close to having revenue covering costs it's small wonder that when it was time for everyone to put in the next round of funding at least one got cold feet and defaulted. And that's before the recent tribulations in the markets. I know the DOW/S&P are at record levels, but look at the chart for them priced in gold.

 

Worlds biggest truck stop? Um, no. Walcott I-80 baby.