Great answer,
So im supposed to just never start my own company? I went to business and supply chain school so I could do this exact thing. I mean I get the risks involved. If it failed, it would be easy to sell off my business assets pay the loan off and go back to a desk job.
Well, you seem to know the worst that could happen. People are just trying to say it likely will.
I know, and I do greatly appreciate it all. I know it will be tough, but I know about what amount of gross monthly income I would need to net the same that I am making now after everything is paid for. My wife has a good job too, and the way it stands we could 100% afford to live off of one of our incomes if needed. I get the loan and worst case scenario I sell the van to pay back most of it, and then just get another job, I have a lot of experience in the field so I don't think finding a job would be a hard thing. Also, wasn't planning on starting this for maybe months. Until the rates go back to a more of a "normal" rate.
Yeah, definitely not. I'm thinking minimum of 6 months before I fully start. At least start driving, i can go ahead and form the company and MC and everything and then get the van and everything down the road
In order to get your MC you have to have the vehicle and have the insurance inplace.
Yes that is correct. Now saying that most small companies will not have their own fleet ins. but the larger ones will.
Awesome, thank you for the info.
Then you will be bidding on hundreds of loads a day to barely get one load. It will take a long time, but a broker will be desperate and call you and that is where you have a chance to shine and gain your first contact. Usually shippers and brokers will not give you the good loads at first either. They have favorite carriers they have been working with for a long time (carriers they trust to get the loads delivered on time without any screw ups) and they award the load as soon as they see their preferred carrier. They will even award the load to a higher bid if they favor the carrier. A big percentage of loads never even get posted on Sylectus. A broker will do a carrier search for capacity and offer the load directly to a preferred companies driver. There are other load boards, but you first have to get your carrier insurance, DOT number, and let your authority age for 1 year before you can begin the even more daunting process of adding carriers. Plan on not even breaking even for the first year unless you drive for a carrier with one van and have your authority set up with insurance on another van. Then on the second year when you finally get on all of the load boards and start winning some bids, plan on breaking even. On the third year is when you might begin to see a profit. A lot of the successful smaller companies are owned by people who once worked for a larger carrier and they already have industry contacts.
