As an Investor, how do I get started in trucking business?
 

I am currently residing in South Florida. I have always been interested in the trucking industry, but as a full time mechanic, I am more inclined to put a truck on the road, hire a driver to drive it and lease it to a company that hauls dry vans. I don't know much about the trucking industry and don't know how to get started. Any advice would be welcome.

even if you get all the advice and information in the world, unless you personally drive yourself and see how it works , otherwise you will lose lots of money. i think many people will agree with me.

Re: As an Investor, how do I get started in trucking busines
 

If you are looking to make a small fortune in the trucking business.... Start with a large fortune.. :lol:

Send me ALL the money you have, I will make us both rich! :lol:

Seriously, you LIVE in an area that produces "produce." You live in an area that NEEDS "produce." YOu should consider a REEFER not a dry van.

This will allow you to send your truck/trailer out and back within a week (if you staff it with a team.) That will allow you to do ALL maintenance at your "home" shop, and not pay exhorbitant prices on the road.

Plus, I believe, produce hauls pay more than general freight.

You can ALSO do regional runs of citrus products to Northeastern grocery DC's.

But, since they produce nothing of real value in the Northeast, you will possibly have to haul back a load of "dispatcher brains" (that means EMPTY!)

Another ithing you may want to consider is hauling boats and theres plenty of them in FL and I've heard from a few drivers boats can be profitable, but you better find a driver that has experience specifically in boat transport.

Re: As an Investor, how do I get started in trucking busines
 

Better off to get a good broker and buy trucking stocks.

Re: As an Investor, how do I get started in trucking busines
 

That aint no lie. :shock: Start way up there, and sink towards the bottom. :P

LMAO I was going to say if you want to make a million bucks in this business start with two million!

Seriously, Most guys fail at running their own truck let alone paying someone else to drive it. Unless you can buy 100 trucks forget this plan, and if you can, you better know what you're doing first. There is no profit margin in this, guys who have their own truck simply bought themselves a job for the most part.

Man as someone just getting into this, I sure hope you guys are wrong. It's very disheartening to read stuff like this. But we shall see. I will be posting numbers in the near future. My money won't be going to chrome or strippers or anything else so if it's possible to do it I am going to do it. If not you will all read it.

I had to humbly post my experiences on the MrLandlord website. I didn't make it as anticipated but I didn't lose either. As a matter of fact, considering all the hurting that's going on in Florida, I did well to get out when I could even if the profit was smaller than anticipated. But like I said I did have to admit that the people who told me not to do certain things were right. So if I lose with this, then I'll admit it.

Another case of someone coming in here asking advise and then completely disregarding it and doing it anyways. Why do we bother? I hope that yo don't lose your rear in this. There have been many intelegant people try to do what you want to do and end up losing it all. BOL

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.