Expanding a business

Discussion in 'Ask An Owner Operator' started by Keepforgettingmypassword, Jan 29, 2022.

  1. Keepforgettingmypassword

    Keepforgettingmypassword Heavy Load Member

    738
    937
    Jan 11, 2022
    0
    I am in no position at this time to do so. My first year (6 months really) I am 9k in the whole.

    Despite all the nay sayers in my support group. I was able to get the truck. All the proper paper work with the state and other's now I'm building my knowledge on truck repair. I'm fully aware that I will never know it all, but thats not gonna stop me.
    I am ready to start learning on how to build a three truck fleet. In hopes to have 2 of the 3 trucks in early 2024. I will still drive. But independently or non associated with those three.

    What would be the first step in building a strong foundation. Is it money, education, .... I just don't know?
     
    blairandgretchen Thanks this.
  2. Truckers Report Jobs

    Trucking Jobs in 30 seconds

    Every month 400 people find a job with the help of TruckersReport.

  3. Big Road Skateboard

    Big Road Skateboard Road Train Member

    5,698
    29,732
    May 2, 2021
    0
    What was the cause of 9k in the hole first year?
     
  4. blairandgretchen

    blairandgretchen Road Train Member

    13,236
    70,548
    Dec 9, 2011
    South west Missouri
    0
    Some strong numbers with the first truck would be a good step.
     
  5. Allow Me.

    Allow Me. Trucker Forum STAFF Staff Member

    10,642
    12,111
    May 28, 2009
    Rancho Mirage, Ca.
    0
    Trial and error. Go for it, note your mistakes and continue on. Like you've done, ask for advice along the way. You may succeed or you may fail. But that's just me, kind of a risk taker. I will also say, if you have wife/kids, your decisions will be different than if you are a single guy.
     
  6. Midwest Trucker

    Midwest Trucker Road Train Member

    5,871
    21,125
    Aug 31, 2018
    0
    Exactly, that’s one thing I say pretty often to people that think that 3 trucks, 5 trucks, 10 trucks or however many is what you have to do to be successful and only scale will work. That’s just not true. Figure out how to make money with one truck, 2 trucks, 3 trucks, and only then think about 4 or 5. There are growing pains along the way and multiplying your mistakes times how many trucks you’re running will only make you go broke that much quicker.
     
  7. Ridgeline

    Ridgeline Road Train Member

    22,116
    113,324
    Dec 18, 2011
    Michigan
    0
    There is no immediate economies of scale when adding trucks because the cost of the time involved with aligning resources to produce the revenue from the additional truck.


    Organization … education next.
     
  8. Keepforgettingmypassword

    Keepforgettingmypassword Heavy Load Member

    738
    937
    Jan 11, 2022
    0
    I think bad planning. Eager to pay the truck off which I did. And that's when things started side ways.
    To be sure I would pass the 120 land star inspection. I bought the same tires that where here 4,300 there. Could have saved money with more tire insight. Still owe 2k of the 5k brake repair. New nox inlet and out let sensors. I had to cut them out. So lost the core charge on them. Radiator reserve. A computer update. And the list continues.
    Understand I'm not complaining. All of this would have been done if one of two things had or hadn't happened. One I was laid for up (parked and scared to hurt it.) 2 weeks and 2 days with a truck that wouldn't do over 45-50. Until my buddy figured out it needed a update.
    Or two. Who ever worked on it before me had used anti seeze. I just broke two more bolts today. Trying to get them just loose enough for the pb blaster to get to the treads.
    So far nothing needed work until it all needed work

    But I'm back to work know and even more determined.
     
    Mcast3092 Thanks this.
  9. Allow Me.

    Allow Me. Trucker Forum STAFF Staff Member

    10,642
    12,111
    May 28, 2009
    Rancho Mirage, Ca.
    0
    You read my 2nd sentence in post 4.
     
  10. Keepforgettingmypassword

    Keepforgettingmypassword Heavy Load Member

    738
    937
    Jan 11, 2022
    0
  11. danny23tx

    danny23tx Road Train Member

    1,494
    2,324
    Feb 16, 2016
    Austin,Tx
    0
    Ouch man sounds like you need to hit the reset button . You need to make it profitable with one truck before you even consider another truck Im talking like you put another 50 k in account or dont do it . Sounds like your off to a nightmarish start .
     
  • Truckers Report Jobs

    Trucking Jobs in 30 seconds

    Every month 400 people find a job with the help of TruckersReport.