U really do not want to go to work for PRIME...

this is not directed @ prime directly, but to all companies that offer leases. I observed that most if not all use the selling points like: "you can own your own truck" or "be your own boss" or "start your own business."

Tell me, those of you who do lease and who have done so for some time now, If leasing truly is a way to running your own business, will your business grow? will you generate enough revenue to eventually expand? get a 2nd truck? hire staff?

i believe that even in a poor economy, a business managed well will grow and expand. And in a good economy will grow and expand quickly. Those who lease, where do you see yourselves in 5 years? Still driving, or managing those who drive for you?

If you are still driving, is it by choice? Or has the company you lease to kept you from growing?

 

(Post deleted)


Wrong thread

 

i'm sorry, are you referring to my post?

 

No no, I posted something about leasing but I forgot this was the prime thread. I was just stating I posted in the wrong one.

Ethan

 

Regardless of who they sign up with many fail as they do not REALIZE that it is a business and needs to be operated as 1 , they also fail to realize that they are their own worse boss.

 

in business, treading water is not succeeding. it is prolonging a slow death. Expansion and growth is a sign of success. I believe the lease deals is a clever way for companies to offload the largest operating expenses onto the shoulders of individuals who want to believe they are starting their own companies. If you only make enough to cover the truck payment and take a little change home to momma, you are treading water.

 

I've talked with a few drivers who did Prime's lease, one guy went through one truck and was on his second before he quit. His first truck....he was away from home for 9 months at a time just to turn a profit.

Some companies push leasing on you and if you turn it down they act like you insulted them. I like my company because they don't push leasing and they don't allow you to lease right out of orientation.

If you decide to lease, at least they put you through a class on how to manage your money, how to turn a profit in the truck and things like that.

 

Obviously doing a crappy job at managing his expenses. But that's part of the game, and if you do poorly at it you won't turn a profit. You can say that about any company in America, and any lease or owner operator in the trucking industry - no matter what carrier they operate for.

And they do that at Prime as well. During orientation, you get some class time on how to operate profitably. There is also a class that they pay you for after you've run at least a month - that way they can go over your settlements to see how you are doing, and critique your operation. Sadly, not everyone sees the benefit in going back for this.

Yup, the bottom line numbers are telling you what's up. That's why it IS a business. The profit/loss statement and the quarterly and yearly operating statements are going to tell you where to improve and if you're doing any good at all.

Where will I be in five years? Owning at least one truck - not sure if I want to ride herd on a bunch of numbskull truckers, and looking at whether having my own authority makes economic sense.

 

generally speaking, trucking isn't for everybody. leasing isn't for everybody. for those who have been succesful at leasing,( i am sure there are some out there) what is your rate of growth? what is your margin? (5% net margin EBITDA would have the CFO doing cartwheels at my last company)

I ask because I want to define(for myself) what a lease operator is and whether or not he really is in control of his company's future. If i started a company, it's growth would be priority one for me. From what I have gleaned from 10 years of trucking operations and 1 year of OTR, I am not sure that leasing is truly the way to start and grow your own business. If i am wrong in my perception, please enlighten me.

 

Well growth is not always possible , many factors involved not just adding more trucks.