Stanley Mitchell:
I would advise on a start fund of £50k…out of this would come the truck, you won`t get much sense out of a bank regarding a loan at the start…fair weather friends, beware£50k less a good “used” tractor, leaves a fighting fund to cope with everything that WILL come your way in the first few months.
Also, with this amount of “cash”, the licensing authority will take you seriously, any less and its questions, proof + hassle
You can get a very good Volvo FH13 for less than £20k, pretty much bullet proof and something decent to drive everyday
Have you factored in the insurance element ?, this will be circa £5k for a start up venture.
I`d rent a trailer for the time being, just to suss out the “job”, a lot of potential customers will have you pulling their trailers or, you might get lucky, but the customer needs a 4.5m …then you have 4.0m sitting in the yard
It ain
t easy, thats for sure, and no doubt someone will disagree with my advice, i would just take in what everybody says, AND listen very carefully to your accountant
I can’t even dream of £50k at the moment. If I had that money then I would not be thinking of starting my own business as I would be probably doing very well already.
The reason I want to start the business is to earn that £50k. However if majority believe it isn’t doable to start without £50k in the bank then I suppose I will give up on the idea altogether