and when you obviously wont sign for any personal liability,you may just find that the banks may decide to obviously laugh you out of the door limited or otherwise due to trying to start up in a profession that is one of the biggest red light nono industries in the uk without having any colatteral to cover the banks outlays when you eventualy go belly up and they have to try and scrape back some finances.if that wasnt the case,then every dreaming fanny would just hop on the " il be king of the road with my own trucking empire business" gravy train…cop on ffs…nobody will lend money on a unsecured loan,especially when its its road haulage.
dieseldog999:
and when you obviously wont sign for any personal liability,you may just find that the banks may decide to obviously laugh you out of the door limited or otherwise due to trying to start up in a profession that is one of the biggest red light nono industries in the uk without having any colatteral to cover the banks outlays when you eventualy go belly up and they have to try and scrape back some finances.if that wasnt the case,then every dreaming fanny would just hop on the " il be king of the road with my own trucking empire business" gravy train…cop on ffs…nobody will lend money on a unsecured loan,especially when its its road haulage.
In all fairness that would all depend personal finance record strength of business plans letters of content or contracts from customers. Also it’s always worth bearing in mind that leasing as a whole is fairly low risk for both parties as you never actually take possession of the vehicle and they keep all maintenance up to date so not normally too difficult to arrange.
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And that is the point, after fuel costs you have around 80p per mile to pay for everything else, including wages. If you pay yourself 500quid a week that’s 25p per mile if you do 2000miles a week, that’s pretty hard going for 500quid and will take its toll on the lorry too, increasing maintenance costs.
At those kind of rates/costs you would be better off driving somebody else’s lorry.
If it’s your dream, go for it. Scrimp and save, get your figures together, keep your head screwed on and you’ll get somewhere. I’d recommend spending some time in the transport office and that will get you used to the planning and costing side of things. Perhaps ask to be trained up and cover holidays when the regular planners are off.
Also think about how you’ll make the most of the truck- ideally you want it rolling 24/7, so would you be willing to find night and weekend work and have someone else drive it? Will it be a company or personal vehicle?
UncleJoe:
If it’s your dream, go for it. Scrimp and save, get your figures together, keep your head screwed on and you’ll get somewhere. I’d recommend spending some time in the transport office and that will get you used to the planning and costing side of things. Perhaps ask to be trained up and cover holidays when the regular planners are off.Also think about how you’ll make the most of the truck- ideally you want it rolling 24/7, so would you be willing to find night and weekend work and have someone else drive it? Will it be a company or personal vehicle?
Hmmmm interesting point I want to go in with a friend and he s a long time old school
Trucker he thinks to begin with that’s your only
Option 1 truck then take it in turns day and night work so she’s always out
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Going in with a friend is best avoided, business and friends do not mix, you will lose the friendship or the business or even both unless you’re really lucky and family are even worse.
newmercman:
Going in with a friend is best avoided, business and friends do not mix, you will lose the friendship or the business or even both unless you’re really lucky and family are even worse.
I m not too worried about that he s been my best mate for 17 years we just ran our last business together for 7 years had our ups and downs but we have a good understanding sold that he went back to Lorry driving and I ve passed my tests to join him lol
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Oh well that’s different then, usually a partnership between friends is a one sided affair.
If you’re going to run the lorry day and night then that changes everything. A lot of lease deals have mileage limitations and harsh penalties for exceeding them, so the 10k Premium or similar is even more attractive, it’ll pay for itself in no time and raise capital for the next one, whether it’s a replacement or an addition.
The mileage limitations all depend on what you are doing with the wagon. If you are working for say DFS during the day doing trunks your milage would be fairly low due to the amount of tipping time. Then depending on where you are based, get in doing the night trunk for a local pallet network hub or parcel company to the Midlands and again, time on a bay will restrict your milage so you may get away with a 150k p/a agreement.
If you can find the work.
I on the other hand would vastly prefer to go the one wagon one driver route and tramp. I couldn’t face seeing the family every day! Oh horror!
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Either way you’re better off with a cheap lorry to start off with, learn the trade and work your way up to a newer lorry when you can afford one. If you do things the right way it shouldn’t take more than a couple of years and you’ll be in a brand new lorry of your own with a hefty deposit paid to keep payments down.
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newmercman:
Either way you’re better off with a cheap lorry to start off with, learn the trade and work your way up to a newer lorry when you can afford one. If you do things the right way it shouldn’t take more than a couple of years and you’ll be in a brand new lorry of your own with a hefty deposit paid to keep payments down.Sent from my SM-G930W8 using Tapatalk
If I buy outright I won’t upgrade if I can’t buy outright again. No point starting out debt free and flexible if you strap yourself up just as your first contract is up for renewal.
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Stanny_1985:
dieseldog999:
and when you obviously wont sign for any personal liability,you may just find that the banks may decide to obviously laugh you out of the door limited or otherwise due to trying to start up in a profession that is one of the biggest red light nono industries in the uk without having any colatteral to cover the banks outlays when you eventualy go belly up and they have to try and scrape back some finances.if that wasnt the case,then every dreaming fanny would just hop on the " il be king of the road with my own trucking empire business" gravy train…cop on ffs…nobody will lend money on a unsecured loan,especially when its its road haulage.In all fairness that would all depend personal finance record strength of business plans letters of content or contracts from customers. Also it’s always worth bearing in mind that leasing as a whole is fairly low risk for both parties as you never actually take possession of the vehicle and they keep all maintenance up to date so not normally too difficult to arrange.
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id just think it would be extremely unlikely that no matter what your business plan was,or letter from customers that any financial institution would lend unsecured funding to any business ltd or otherwise without some form of personal security/collateral especially if it was a new start road haulage in the uk venture due to the 99% doomed to failure rate.
dieseldog999:
Stanny_1985:
dieseldog999:
and when you obviously wont sign for any personal liability,you may just find that the banks may decide to obviously laugh you out of the door limited or otherwise due to trying to start up in a profession that is one of the biggest red light nono industries in the uk without having any colatteral to cover the banks outlays when you eventualy go belly up and they have to try and scrape back some finances.if that wasnt the case,then every dreaming fanny would just hop on the " il be king of the road with my own trucking empire business" gravy train…cop on ffs…nobody will lend money on a unsecured loan,especially when its its road haulage.In all fairness that would all depend personal finance record strength of business plans letters of content or contracts from customers. Also it’s always worth bearing in mind that leasing as a whole is fairly low risk for both parties as you never actually take possession of the vehicle and they keep all maintenance up to date so not normally too difficult to arrange.
Sent from my iPhone using Tapatalkid just think it would be extremely unlikely that no matter what your business plan was,or letter from customers that any financial institution would lend unsecured funding to any business ltd or otherwise without some form of personal security/collateral especially if it was a new start road haulage in the uk venture due to the 99% doomed to failure rate.
I never made it out to be easy business isn’t easy and that s a fact. All these facts and figures are all well and good and all worth getting but there will be days/weeks where you might aswell just get all
Workings out and previous plans and burn them. I m along way off my dream of starting a haulage outfit a lot to learn and conversations like these are invaluable so cheers for everyone’s input.
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I think the decision is being made by the numbers. The Range T I have been driving for the last 4 weeks is solidly returning 10.4 mpg on the boxes. That’s a mixture of heavy and light, mainly 40 High Cubes but with about 30% 20ft boxes on.
That’s based on fuel put in divided by miles covered too so not relying on the trip, (which says 10.2). There is no way a Euro5 Premium could match that.
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Oh just to add that works out at £0.23 per mile excluding AdBlue.
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It seems that indecision is creeping in. You answered my post by saying you wouldn’t get strapped up and in your last post you’re buying a T range Renault.
Are you on a wind up?
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newmercman:
It seems that indecision is creeping in. You answered my post by saying you wouldn’t get strapped up and in your last post you’re buying a T range Renault.Are you on a wind up?
Brilliant business plan.Buy an unaffordable motor to take advantage of its better fuel consumption running it 24/7 on jobs which minimise mileage in the hope that mileage depreciation ( lease penalties costs ) won’t exceed revenue/rates.All based on a figure of 10 mpg = 23p per mile fuel costs at 90p per litre. 
What could possibly go wrong. 
Carryfast drop the sarcasm. If you have nothing constructive to say shut the hell up.
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nsmith1180:
Carryfast drop the sarcasm. If you have nothing constructive to say shut the hell up.
Nothing wrong with a bit of humour to show the catch 22 regards balancing costs against limited rates/revenues in a toxic trading environment.On that note,if I’ve read it right,how do you explain the difference between Harry’s fuel costing per mile v yours even at 10 mpg v 8 mpg for example.
Of course I meant pence per km not mile. That’s my bad.
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