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0834385878 || Trucking Business Adviser
#1) Money! You won't get far without it! The truth is, if you are seeking a loan or an investor, partner, or even thinking maybe I could get a gov. grant! Well, if your a white male living in the United States, forget the grant idea! As far as a loan goes, banks don't really care if you have experience in the industry or not, or if you have somehow secured a contract. The truth is they know what the numbers are and the stats are very much against you making it your first try. As for partners, well, they also have a very poor track record, not just in the trucking industry and I certainly don't recommend it. I know, now you are thinking... there goes that great idea! Not to fear, there is a solution to the money problem. It won't be easy and may not be what you want to hear, but I will give you some anyway for those that actually do have the salt for this industry.
Trucking Business Consultant
Option #1, Work for someone else, and become an expert on money management! Get yourself out of debt. by paying off anyone you owe money to. Do this systematically, start by paying off the lowest debt. first and work your way to the bigger ones. Also, while your working on your debt., disregard all of your current bills that you don't NEED for survival, yes including TV! This will increase your effort on eliminating your debt. All the while you must be SAVING every dime and nickel that you can make! Invest your free time into learning how to make quick turn investments so that this savings can get bigger, quicker! You must keep your eye on the ball, if you don't sketch out a simple budget and some form of side investments (focused on quick return), and/or another job or a simple side business that you can do while you work, then you won't make it to your goal! Also, keep in mind, all the while you are reducing debt., making EXTRA income and trying to stay focused, you should also be looking at your projected costs for starting your trucking company. Now, this is option #1, and if you find it too tough to do, you may want to reconsider going into the trucking industry all together. Why? Because the simple fact is that without being devoted to money management and making goals you can achieve, you won't make it in the trucking industry for very long. If you jump in before your ready, you can lose everything you own and then some in this industry.
Trucking Business Consultant
Option #2) This option may be even tougher than the first, but it may also be quicker for some to achieve. Start by, getting your class A CDL's by simply working for a company that offers training for new drivers. As soon as you get your CDL and start driving, keep an eye open for some other better paying companies because a lot of those BIG outfits don't pay newbies too well. Work your way, once you've got the experience, into a company that offers an Owner/Op lease program that fits your experience. When looking at these companies I would suggest looking at companies that lease out good quality trucks, as this may very well be your 1st truck you use when you finally own it. Also, keep option 1 in mind and stash away as much capital as possible while your working for someone else. The norm on these lease programs is from 1yr to 3yrs and maybe even as long as 4yrs depending on the age and mileage of the truck you are leasing. Also, when leasing a truck as an Owner/Op working for another company, remember that they are paying you on a 1099 or as a sub-contractor. That means that you will have to keep good records for taxes and have some (about 30%) set aside so that you don't get burned when you have to level with Uncle Sam. Once you've made it through your lease... This is where it can make you or break you! They may have said those truck payments went towards the purchase of the truck, but I've yet to see one that actually does. If you have enough stashed away then, buy the truck or surf around for better deals. Either way, you can stay with that company as an Owner Op, and I suggest that you do for at least until your truck is paid off completely! You may want to keep trucking with them even longer to build up your savings enough to buy (not lease) a trailer. Okay, so either option 1 or 2 will take some time to see happen for you, but it will be worth it if you can keep your eye on the ball. There is another option as well, however, only about 1 out of 20 people are well suited for it. If you simply must know about option #3, I welcome you to call me at 704-652-8209 and I will go into more detail about it. Please only serious people should call for option 3, the 1st two work just fine, they just take a lot longer than some are willing. I will return for more answers on this industry in another day or so.
Trucking Business Consultant
qykaylee@yahoo.cn || +86 135 9789 5812 || Trucks Buy & Sell Adviser
qykaylee@yahoo.cn || +86 135 9789 5812 || Trucks Buy & Sell Adviser
Cost of tractor (in the US) $6500 to $20,000
Cost of $1,000,000 liability for the year and $250,000 cargo insurance - around $6,000/year with $1800-$2000 required up front
Trailer $3000-$8000
DOT Authority approx $1000
Monthly Fuel costs at ~8,000 miles/month $4,800 (times 2 is $9,600 which is how long you need to be able to survive on your own)
Tax/Title/Tags/Dealer Prep for the Govt (plates etc) $1,500
Now, that all comes to on the low side $25,400 give or take $1,000 or so JUST to START the business and keep it going WITH NO REPAIRS for 2 months, NOT counting what you are going to eat, pay your home electric, phone, water or any other personal bills. Also it doesn't take into account being on the road and paying for incidentals as tolls, showers, tarps, load bars, chains, straps, nails, wood to secure special loads, or ANYTHING like that.
Another thing you have to consider is the Quarterly or Monthly Business TAXES that you will have to file and pay. Not taking into account ANY OTHER COSTS which you may encounter!!!
You blow ONE tire on the road, and dont have the means or knowledge to change it yourself, there goes $500 right off the bat. Tire shreds an airbag, $500-$2000 gone. Shipper says they want something special used to secure load, $$$$$ again.
You will NEED to have $30,000 to $50,000 just to be able to run your own truck, own trailer, getting your own loads for TWO months. The average tractor trailer gets around 5 to 6 miles to the gallon of Diesel fuel. Fuel is around $3.00 a gallon. $0.60 cents per mile (cpm) is needed to fuel your truck so keep that in mind as well.
I DON'T know it all, am NOT in business for myself yet, but it is getting closer every day for this to happen. These are just the numbers I have come up with from over a months worth of searching, reading, learning, and speaking with folks who know.
I will IGNORE any questions relating to things like "can I have some money" or "How do I get money" or "will you hire me (unless you have a quality truck and proven track record with paper to back it up)"... I am in the business to make money, and my time is money. This is your nickels worth of free advice so use it wisely!!! I can be reached via gmail @ handletrucking (if you cant figure it out, you dont need to be working for me, or anyone else for that matter)
Good Luck!!!
gmail @ handletrucking || Trucking Business Expert
Transport Business Consultant
ALSO YOU DON'T HAVE TO BE A BUSINESS PERSON TO BUY A TRUCK, COS THE COMPANY THAT USES YOUR TRUCK IS A BUSINESS AND YOU ARE THE TRUCK OWNER, THAT'S ALL ARE THE TRUCK OWNER.
if you want to be a business person you start a services company which means you gonna either give contracts to truck owners, or you buy your own truck and service your client or you transport your own product to your clients or where-ever the product has to delivered to, most of the transport companies do not own those trucks or bakkies, but they offer contract to those people who afford to buy a truck or bakkie, that means they give contract to those that afford to buy those Vehicles, so the one who bought the truck nor bakkie remains the owner not the business person, you guys draft business plan so you will understand how to start a business you do not start a business because you have money but because you are business minded or well prepared, you do not need money to start a business but brain, perseverance and commitment, i started my FIRST business when i did not have even R5.00,BUT I DID IT to date i got two businesses.
Trucking Business Adviser