Business Partner Flaked Out

Brian Stillabower

Not a Member
Researching
Me and a business partner made plans to get a sprinter van expedite business going.

I got my DOT, LLC and everything good to go, then he flaked out on me.

He had the experience in the business.

What can I do now? What are my options?
 

BigStickJr

Veteran Expediter
Retired Expediter
What made him scared of doing business with you ?

What was your business plan ?

What’s your experience?

How far are you in ?

What’s your plan if you get no advice here ?
 

Brian Stillabower

Not a Member
Researching
Thank you for responding.

What made him scared of doing business with you?

Long story short, he was going through a divorce when we planned it all out. They decided to stay together and I think his situation changed and/or she changed his mind on it. We put it all in my name so she wouldn’t get anything once divorce was final. Then planned on moving partial ownership. Well they aren’t getting divorced anymore so something happened and I am not sure what it is. He just flakes out. Good thing is the business and dot is all mine, bad thing, he was the knowledge and experience.

What was your business plan?
Get some expedite vans and have the ran under my numbers. Planning on running loads for some factories in Louisville area to some OEMs. But not opposed to load boards if I can get a good driver. What he told me was sylectus is a great load board and was planning on getting that.

What’s your experience?
Not much. I know the ins and outs of how to run a bunsiness he knew the ins and outs of trucking/ dispatch contacts things like that.

How far are you in?
I got the DOT and the LLC. Not too far in, just a lot of time and cost for getting the DOT and LLC. Would like it not to go to waste.

What’s your plan if you get no advice here?
Keep looking for info and options. LLC won’t go to waste because I can rename the business to something else to salvage that. LLCs are cheap to maintain.
 

BigStickJr

Veteran Expediter
Retired Expediter
Humm.

If you throw in the towel now, you’ve limited your loses to what you’ve spent.

If you have commitments from shippers that are solid, maybe look into brokering that freight to other trucks.

I know little of that end of the business other than if you do a good job it can be more lucrative than owning trucks and having drivers.
I’m sure it’s not as simple as it sounds.
Others will chime in.
Just be careful. For every couple posts of good advice you read here you’ll read a few that are bad advice.
 
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