As an investor, you should know better than to start a trucking business in the present trucking business climate.

By the time you pay the driver and all your expenses you'll already be in the hole, more than likely.

 

Running a truck is expensive. Your greatest challenge will be finding honest, qualified drivers who will take care of your equipment. I would be prepared to drive the truck myself. One of the worst things you can do is invest in something in which you have no knowledge or experience. If you run the truck yourself, you can earn an above average income. Hiring a driver can send you to the poor house in a hurry. If you can afford to purchase several trucks and hire someone to manage it for you it will give you a much greater chance of success. My advice would be to take your money and invest in Landstar, JB Hunt or some of the other publicly traded trucking stocks. You will likely make more money. I am sorry to sound so discouraging.

 

I agree with Gman, I watched as my uncle bought a big beautiful Pete, and then hired a driver who fell asleep the second time out. He lost his butt!! Your best bet is to drive the business yourself, that way you are the only one who can make it fail.
It's just the reality of investing,...invest in the most dependable resource,...yourself, I personally think you can't lose if you are in complete control of all aspects of your investment. Have you considered becoming a decent broker?,...the industry needs them also.
Good luck to you.

 

First you put a hand-full of marbles in your mouth. Then each day spit out one marble. When all of your marbles are gone, then you can enter the trucking business. :P

 

Answer these questions:

1. Would you buy a "crop-duster" (airplane)....without having a pilots license and experience?

2. Would you hire a pilot you don't know to fly your airplane?

3. Would you put every asset in your world up as collateral and endanger your possession of those assets while gambling in a field of endeavor about which you have little knowledge?

If you answered any of the three with a "yes".... please see a licensed mental health professional immediately.

Buying a truck, hiring a driver you don't know, and venturing into a field such as this....without intimate knowledge of its ins and out....is financial suicide.

Invest your money in Mutual Funds or some other more reliable financial instruments....like CD's or Treasury Bonds.

Do some research on the web regarding the repossession rates of trucks in the last couple of years, and the number of owner operators that just gave up because they couldn't make enough money to cover all the expenses.

 

I's say forget CD's or Treasury Notes, but Skywalker is absolutely correct about finding (a) good mutual fund(s).

Look the market is set to shoot to about 27,000 over the next decade, possibly even sooner, ( personally, methinks 7 to 8 yrs.) so instead of buying into a depreciating asset and venturing into something that you know nothing about. busting your ass, and losing your shirt, get your money to work for you instead.