AndrewG:
backload:
Basically you get a CPC an O licence an operating centre and buy or rent a truck and trailer, you pay for insurance and maintenance and repairs. Skip any of these and expect a huge fine or imprisonment.Then you find some work that generates enough income to pay for the above, you carry out the work then this is the good bit you wait from anything from 30 days to 120 days to get paid.
Now if you’ve done your homework and got your sums right you may make enough to earn a living, you may build on this buy a new truck or a nice car and then you start thinking I’m getting good at this. I think I will buy another motor or maybe 2 or 3 if I get that new contract. STOP…! Here lies danger because that guy you employed doesn’t give a [zb] about you your customer your truck he just wants paying and your going to have to pay him every week good or bad and pretty soon you realise I’m not making money I’m just paying wages and the trucks are breaking down and insurance is going up and diesel is going up and those rates you negotiated aren’t that good.
Maybe you had it better when you were employed and you got paid every week and had holidays.
Well good look, hope you’re doing the right thing…!
Good post.
Ive been an O/D for 20 years plus , have always kept within budget and means by buying used trucks outright with no finance ect , the only new one ive ever bought is the one currently on order. Expanding , buying more vehicles and employing more drivers will only ever work if you can rely 100% on your employees and this as the above post mentions is where it can all go wrong…
You must share your secrets then .new truck ordered. Purchased all your trucks outright.your doing well then 