Greetings everyone. I am in the process of researching the industry and developing a strategic plan of entry. Myself and my best friend of 15 years are looking to starting a trucking company of about five trucks and I need some help with strategy.
1. Should I lease on with a company e.g. FedEx Ground (I heard they were great to work with)
2. Get my own authority and bid on loads.
I recognize the benefits of both...leasing on with a company minimizes paperwork, prompt payments and a chance to learn the industry with less initial headaches and ....getting my own authority gives me the freedom to negotiate rates and have more control over he direction of the business.
Given that, I do not have my CDL nor will I be driving. My business partner however, has been driving for the past 2 1/2 years with a great driving record and is currently leasing a company truck and training new drivers. He may not drive either because he is making great money as it is and I also have a good paying full-time job. He is more of an operational type of guy while I will be taking care of all the business aspects.
My question then is, apart from the above regarding strategy, what advice do you have for what I am proposing to accomplish.
1. Should I buy a small trucking company or purchase the trucks myself
2. What are the best financing options.
3. Should I focus on profitable routes or plan to run anywhere ( We will be based in ATL)
4. Is JB Hunt's lease on program good? You have your own authority and get 75% of the load. Which companies have the best programs?
5. What is a realistic profit per month
6. Anything you guys can think of....hit me with it all
Thanks so much in advance....look forward to your responses
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