Writing a business plan

Discussion in 'Questions To Truckers From The General Public' started by Lgaff, Apr 10, 2021.

  1. Lgaff

    Lgaff Bobtail Member

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    Hello, I intend to apply for a SBA loan to start up my transport co. I've been looking all over the web for good examples of business plans for the trucking industry, but can't seem to find any. Most of them are legal zoom b.s. or other template websites that are not specific to trucking....Does anyone know a good website to look at examples? Thanks! :)
     
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  3. Mattflat362

    Mattflat362 Road Train Member

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    Start with literally writing down what you will literally do. Day 1, 2,3,4,100. Pretend we readers are the lenders.
     
    Last edited: Apr 10, 2021
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  4. Rideandrepair

    Rideandrepair Road Train Member

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  5. Frank Speak

    Frank Speak Road Train Member

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    Late to the party, but I’m a retired Accountant. First, your likelihood of getting a small business loan is slim to none. You would be better served looking for a grant.

    An even easier way to finance your new venture is to tap into a 401k if you have one. There is an absolutely legal way to gain access to the money without paying any penalties by forming a C Corp.

    The down side is a C Corp is taxed at a higher rate once you surpass $50k. The up side is if you fail, you can transfer any remaining funds back into a qualifying retirement account and you’re not out any cash for penalties.

    I mention this because the reality is it’s an almost certainty your business will fail. That’s just a statistical fact. This fact is also the reason small business loans are extremely difficult to obtain.
     
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  6. roundhouse

    roundhouse Road Train Member

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    This guy has several videos and they are good info.


    he managed to start a trucking company, buy trucks, hire drivers , and find loads.
    I assume he’s making a profit , since he’s an accountant , I’m sure he tracks every dollar.

    you’re Probabaly not going to get a low interest small business loan or grant unless you’re some preferred minority.
    If you’re a Native American black female lesbian who’s transitioning to another gender or something , you might have a shot at a SBA loan or grant , otherwise, if you’re a straight white male, your chances are zero.

    you can get loans from a local bank or one of the places that specialize in loans for truck, “associates “ used to be the one that did most of the truck loans.

    to buy the truck if you have good credit and a decent down payment.

    and you will need an actual plan to make money.
    Do you have any contacts in the trucking business ? Friends that work in shipping departments that can get you direct loads so you don’t have to use brokers who take 1/3 of the money right off the top?

    if so, skip the buying trucks part and start a brokerage, that’s the easy money in trucking, all you need is a phone and a computer. Your friends in the shipping dept get you the loads, you list them on the loads boards for 1/2 price of what your friend is paying you , and let the truckers do all the work while you make All the money.

    years ago when I was an owner operator with one truck , I met someone who’s good friend ran the shipping department at a large paper mill, they offered me all the loads I could handle. It was in another part of the country and I had zero knowledge of brokering so I didn’t take them up on it.
     
    Last edited: Apr 25, 2021
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  7. SuavisJ

    SuavisJ Bobtail Member

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    Hey, how can you transfer your 401k to a c corp without facing penalties?
     
  8. Frank Speak

    Frank Speak Road Train Member

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  9. SuavisJ

    SuavisJ Bobtail Member

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    Frank Speak Thanks this.
  10. Lgaff

    Lgaff Bobtail Member

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    https://g.co/kgs/2hbLyX

    Not sure if this is what you are looking for???
    Called R.O.B.S.
     
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