OK, I have been unemployed for over a year now. My primary occupation is in the dumps (building supply sales). My secondary career (driving) has been trashed by my last employer that I cannot persuade to quit bashing me.

Here we go. I have begun developing a business plan to submit to the small business administration. I plan to ask for $100,000.00 give or take. I still need some current, honest, and accurate information for that plan. To date I have leaned toward buying a new or slightly used tractor, and a used but less than 8 years old dry van 53' long. As long as it is mechanically sound, I can handle the upkeep, and refurbishing myself. I will need plates, insurance, permits, current inspection, a broker or two, and an accountant. Last time I checked, my credit score was excellent, and I have not done anything to change that other than being out of work for a year.

I would appreciate any input that will aid in my plan and ultimately presentation to the SBA when I go for the loan.

 

Good luck Bro....

 

Now is not the time to get into this business, really. If you can wait a while till things get better you should consider doing just that. I started in November 08 and I am struggling at this point.

With a dry van you'll be competing with a lot of other trailers, and that equals...... cheap.
If your credit is good keep it that way. I don't mean to be doom and gloom but I will be honest.

 

You want to jump into a business that's already has a surplus of trucks and drivers in the middle of a recession with a $100,000 in debt and compete for the cheapest type of freight against guy's that have cheap paid for trucks ! What could go wrong?


I don't want rain on your parade, but give this A LOT OF THOUGHT!!!

Why is your ex bashing you? Can you prove that what he's saying is incorrect? Ifso get it all down in black and white and then tell him if he dosn't change his tune your going to sue him. That's assuming your in the right.

 

I have been told that the SBA doesn't make equipment loans to owner operators since funding is usually available through conventional sources. If you are successful perhaps you could let us know. The SBA does require you to jump through a lot of hoops and will want you to have some of your own money and some sort of assets to secure the loan.

By the way, you don't need $100,000 to start out as an owner operator, even with working capital. You should be able to buy a van and tractor for $20-30,000, if not less. If you plan on leasing to a carrier the requirements are usually the same as a company driver since you are using their insurance. If you plan on getting your own authority then that is a different issue.

 

Sounds as if he's already made up his mind. BUT, you'll have a better chance of breaking even at the horse races. At least that won't ruin you credit score.

 

I GO TO THE TOILET EVERYDAY .........I EAT..........I SLEEP AND THEN WATCH TV.
I GO TO THE TOILET EVERYDAY..........I EAT...........I SLEEP AND THEN WATCH TV .
The same repetitive action everyday.My wife always says I hate repeats or she repeating anything to me.



Now look at GOSTEELERS profile.He only has 9 posts.He was never a pioneer of this board, but rather had a dream like Martin Luther to be independent.He never did a search or there was never a sticky to prevent repetitive question like this.
Instead of people like the REV and MIDNIGHT FLYER who had a happy trigger finger of BANNING the great pioneers of this forums, they never thought about setting up stickys, and therefore repetitive questions like this will never happen.This board is dead and not like it used to be.If the admins had a sticky ON GETTING YOUR OWN AUTHORITY OR BUYING A TRUCK, the same repetive quetions wouldn't be here.
Too many guys come out of the wood works asking the same questions.
WE NOW HAVE A MUCH MORE LENIENT ADMIN WHO DOESN'T BAN, BUT I WONDER WHETHER HE IS GETTING CARPAL TUNNEL in answering the same old questions on this board.
Yeah!Gosteelers, go get your authority and be like me.dispatch yourself,do your own invoice,do your own IFTA by hand and chase the brokers who are paying you late.

YAWN...........REPEAT....REPEAT.......!!!!!!!!!

 

I don't want to start any fires here...but here's my .02

I could sit here and tell you what worked for ME, how I started thinking and executing my business plan in 2006 during the worst part of the recession.....how I ate from a can, lived on the road with my wife and three small dogs for 4 months, how we had to climb over each other in the middle of the night to wee wee... of all the heartaches and headaches...and of the joys we had on the road...but that would olny give you another STORY OF THE ROAD, which are plentiful at any local truckstop.

Instead I'll give you a small sampling of reality.

Trucking is too diverse to listen to one source. I'm sure you have listened to many. keep going.

What worked for me may not work for you. Since 2008 I have had my best year in trucking EVER because I ran into the burning building while everyone was running out. People and companies alike were parking their trucks in record numbers and I cashed in.

I bought a rebuilt Peterbilt and a very good quality 2000 reefer trailer. Today I have less than 60K on my truck's rebuilt engine, 145K on the rebuilt trans, 145K on the new clutch. My truck doesn't leak anything anywhere and passess level one DOT inspections.

How does this relate to you???? Develop your plan. Make desisions and go! Chase your dreams. If you want to operate a business as an O/O then great. I did it. I couldn't be more happy. I work 4 days a week, sit at home Thurs afternoon and leave Sunday morning. My weekends are spend smowmobiling, skiing, fishing, chasing my dogs around the dog park, taking the wife to a nice dinner out. I've got plenty of money to run the truck, fix the truck, and money to contribute to my IRA...which means my business profits!

Many people treat the business of being an O/O like having a job, never profiting, just getting by. While I understand everyone's situation is different think about this: How long would you operate any business like a restaurant, a coffee shop, dry cleaner, book store and never profit?....all while living in a small space and peeing in a bottle smelling your own urine in the middle of the night? Not long I say.

Ever wonder why one trucker (o/o) drives a crappy falling apart never washed freightliner that has different colored panels and steel wheels....and along comes a beautiful Peterbilt polished and looking like the person who owns it is "making it and doing it well"...it's because one person has a job and another person operates a business. . . . with a plan. Like you.

Don't listen to negative input. It won't get you anywhere. If someone needs to tell you how crappy their lives are, how their broker is screwing them, how their truck is constantly in the shop and how they can't make any money....I'm so sorry for you. My life isn't about a sob story, it's about success and having a better year next year. My trucking business is doing great. My life is great.

If you want to learn about success and how I got there, I'm more than happy to share with you what worked for me; because the more successful business poeple who are O/O's the more successful the industry becomes (rates etc)

One last thing: Remember this is a business. Too many truckers take everything personally. "This guy hates ME, this person hates the way I do this or that"....Reality is this: They hate the DECISIONS you make, not always the person making them.

[I'm sure there are going to be plenty of people quoting me and saying this or that WANTING to argue, I respectfully decline back and forth banter on the internet. This is me merely sharing my success story of how I started my trucking business in the worst possible economic time and came out ahead]

Robert

 

If you would be so kind, I could use a helping hand with getting this A hole on the record. I have talked with legal advisors, and they tell me that unless I get something in writing or a willing witness, I cannot prove anything, and therefore have no case. Anyone, feel free to contact Mid Atlantic Construction Company at (540) 368-0540 ask for Dave Griffith and ask him about John Davidson as if you had plans to hire me. I would appreciate any/all feedback. I have two more years to endure before I am eligable for social security. I need to be working!

 

Thanks Robert,
I know this line of work is over occupied already. But, I am not in need of a massive paycheck. I just need to be gainfully employed. Truck driving is not something I know nothing about. I have spent those days and nights stuck in truck stops, or worse. The day is not far away when there will be a rebound. The companies that have laid off employees will some day be gaining ground. The homes that have been subject to postponed repairs are aging irregardless of the economy. When those homeowners finally do get back to work, repairs will be high on their priority. Trucks will once again be in high demand. I plan to be there when this happens. I had planned to do trucking as a way to tour the USA during my retirement anyway. This just pushes the schedule a bit.

As for GMAN's comments, sure, I can get equipment cheap, but why? I have the ability to buy equipment of a more comfortable scale. My wife will be joining me in the truck after about 5 years. I see no reason to cheap out on her or myself. I subscribe to the mindset "go big or stay home".