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#1
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trucking
I have a trucking company and everyone that i talk to that is in this line
of bussines is not happy. We have to deal with a ton of rules and regulations (DOT, MTO, 48 States, 10 Provinces each one with their own rules), stupid overpaid drivers (making $13-15 hundreed per week in their pocket), wrecking your equipment, frying loads or tipping over trailer, insurance companies ripping our shirts off (I pay about 15'000.00 per truck per year, that's like 12-13 hundreed per month! and if you have a claim you get kicked out! I'm a small company (5 trucks), the company is worth about $600'000.00, with this kind of dough invested i make enough to pay all the leaches out there (ripoff repairs-last year an engine cost me 22'000.00$; tires at 300-600$ a pop; loans; insurance $6300.00 per month; drivers-$24'000.00) so every month i make what? like $90'000.00, this is ninety thousand dollars per month!!!, Now, I don't drink, I don't do drugs, I don't drive a fancy car, I have 6 other people helping me with the operations of the company, they don't steal from me (I know for sure as I get paid with cheques and the accounting is independent-ha! another gi a month! f....ing leach!). My credit cards are maxed out all the time (I have an outstanding credit, but f...ing stressfull), my bank account is constantly dry: 90 in 90 out... What is that I am doing wrong? I have my own mechanic (it saves me around 10 gis a month in road repairs as oposed to previous years, and I have a good maintenace program) Got my own warehouse (pays for itself) but I lease (can't come up with the fricking down payment!) I fired 4 employees last year to cut on salaries (now, the ones that are left have more to do, so they have a full 8 hr days, so what?!, pay them more...still saves me couple of gi's a week) So why I can't get out of debt ( $400'000.00 and counting)? If I sell my equipment I will pay off only part of what I owe and probably end up with a debt of 50-60 grand (because the equipment is already depreciated), at least now I have some cash flow... Does anybody know what is there to do? Any good busines ideas, I don't know...like a restaurant or a massage parlour...anything, just something. The New Guy |
#2
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trucking
I'm sure everybody here feels for you. I've heard the same from other
truckers and trucking outfits. PITA for sure. Hope you're not thinking of boat building as a way to make some cash. You know what the boatbuilder said he'd do with the money he'd won from the lottery? "I reckon I'll keep on building boats until the money runs out." Brian PS: Sell the _business_, not the equipment. Income streams are worth far more than capital equipment. Have your accountant make all the numbers pretty, put on expensive clothing and show up in a nice car, then let some other guy take on the hassles...shake his hand real nice like. Take your money and buy into businesses that deal in addiction, e.g. liquor store or cigarettes or both. No matter how bad the economy, people keep buying the addictive stuff. -- My boat project: http://www.advantagecomposites.com/tongass "The new guy" wrote in message le.rogers.com... I have a trucking company and everyone that i talk to that is in this line of bussines is not happy. We have to deal with a ton of rules and regulations (DOT, MTO, 48 States, 10 Provinces each one with their own rules), stupid overpaid drivers (making $13-15 hundreed per week in their pocket), wrecking your equipment, frying loads or tipping over trailer, insurance companies ripping our shirts off (I pay about 15'000.00 per truck per year, that's like 12-13 hundreed per month! and if you have a claim you get kicked out! I'm a small company (5 trucks), the company is worth about $600'000.00, with this kind of dough invested i make enough to pay all the leaches out there (ripoff repairs-last year an engine cost me 22'000.00$; tires at 300-600$ a pop; loans; insurance $6300.00 per month; drivers-$24'000.00) so every month i make what? like $90'000.00, this is ninety thousand dollars per month!!!, Now, I don't drink, I don't do drugs, I don't drive a fancy car, I have 6 other people helping me with the operations of the company, they don't steal from me (I know for sure as I get paid with cheques and the accounting is independent-ha! another gi a month! f....ing leach!). My credit cards are maxed out all the time (I have an outstanding credit, but f...ing stressfull), my bank account is constantly dry: 90 in 90 out... What is that I am doing wrong? I have my own mechanic (it saves me around 10 gis a month in road repairs as oposed to previous years, and I have a good maintenace program) Got my own warehouse (pays for itself) but I lease (can't come up with the fricking down payment!) I fired 4 employees last year to cut on salaries (now, the ones that are left have more to do, so they have a full 8 hr days, so what?!, pay them more...still saves me couple of gi's a week) So why I can't get out of debt ( $400'000.00 and counting)? If I sell my equipment I will pay off only part of what I owe and probably end up with a debt of 50-60 grand (because the equipment is already depreciated), at least now I have some cash flow... Does anybody know what is there to do? Any good busines ideas, I don't know...like a restaurant or a massage parlour...anything, just something. The New Guy |
#3
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trucking
"The new guy" wrote in message news:9jjsb.29602 Does anybody know what is there to do? Any good busines ideas, I don't
know...like a restaurant or a massage parlour...anything, just something. The New Guy Well, in our house we are of the opinion that if you gotta be broke, you may as well be happy. Both of us work for ourselves and anyone who has been by knows we are probably as broke as anyone but we always do what we want, punch no clocks, play with the kids when we feel like it... the trade off is we have not had a vacation in ten years, which is also the average age of our cars. Life is short, you gotta' do what you love, there can be no compromise. Sounds like you don't mind a little hard work, just gotta find something more satisfying... Scotty from SmallBoats.com |
#4
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trucking
Sure, That is easy, just get into a business that has No rent, No insurance,
No employees, limited inventory! One that allows you to work when you want, where you want, with who you want. One that pays you for your efforts and has unlimited income potential. And Yes there is such a deal! If you would like to know more, email me. Bill Sheffield |
#5
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trucking
I always thought that if you wanted to make money you had to have money.
If you have to borrow the money, then that decreases your chances of making money because you have to service the debt which means others are making money from your investment. I think that many business's have an optimum size that they can operate at or they are either so large that management loses control or so small that they can't compete. I'm not sure what the optimum size for a trucking business is but it probably depends on your market area. Mabey the inefficiency of having employees is what is sucking you dry. What about having ONE truck and One driver? (you) Yours is a capital intensive business and a service business. You have to have a lot of overhead just to provide the service which after being performed, you get paid for only once. Compare that to say, a writer, who writes his book, finds a publisher, and then collects royalties for years...if he is lucky...even though he doesn't have to keep doing the work. His only overhead is a computer. Or how about a salesman that once he has sold an account, gets a percentage every time there is a recurring sale. Boat designers (and everything gets related to boats on this NG, doesn't it?) try to cash in on this concept by designing boats and then charging people everytime a plan is sold. Sure there are ongoing printing and advertising and mabey consulting costs, but the major work is done. If you have a design that everyone likes and you can charge enough for it, it might be a good business. But like anything else it takes hard work, talent, skill and luck. One thing you could do is hire a manager to analyse your business and implement changes. Have him work on a percentage basis. If he performs, he makes more money, if he fails he is fired. He has to earn his keep as do all employees. You will be freed to pursue other options because you won't need to be watching everything all the time but many owners are unable to let go and delegate things and so wind up miserable and broke when they could have been miserable, broke, and building boats. The new guy wrote: I have a trucking company and everyone that i talk to that is in this line of bussines is not happy. We have to deal with a ton of rules and regulations (DOT, MTO, 48 States, 10 Provinces each one with their own rules), stupid overpaid drivers (making $13-15 hundreed per week in their pocket), wrecking your equipment, frying loads or tipping over trailer, insurance companies ripping our shirts off (I pay about 15'000.00 per truck per year, that's like 12-13 hundreed per month! and if you have a claim you get kicked out! I'm a small company (5 trucks), the company is worth about $600'000.00, with this kind of dough invested i make enough to pay all the leaches out there (ripoff repairs-last year an engine cost me 22'000.00$; tires at 300-600$ a pop; loans; insurance $6300.00 per month; drivers-$24'000.00) so every month i make what? like $90'000.00, this is ninety thousand dollars per month!!!, Now, I don't drink, I don't do drugs, I don't drive a fancy car, I have 6 other people helping me with the operations of the company, they don't steal from me (I know for sure as I get paid with cheques and the accounting is independent-ha! another gi a month! f....ing leach!). My credit cards are maxed out all the time (I have an outstanding credit, but f...ing stressfull), my bank account is constantly dry: 90 in 90 out... What is that I am doing wrong? I have my own mechanic (it saves me around 10 gis a month in road repairs as oposed to previous years, and I have a good maintenace program) Got my own warehouse (pays for itself) but I lease (can't come up with the fricking down payment!) I fired 4 employees last year to cut on salaries (now, the ones that are left have more to do, so they have a full 8 hr days, so what?!, pay them more...still saves me couple of gi's a week) So why I can't get out of debt ( $400'000.00 and counting)? If I sell my equipment I will pay off only part of what I owe and probably end up with a debt of 50-60 grand (because the equipment is already depreciated), at least now I have some cash flow... Does anybody know what is there to do? Any good busines ideas, I don't know...like a restaurant or a massage parlour...anything, just something. The New Guy |
#6
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trucking
Oh god...not Amway
Bill Sheffield wrote: Sure, That is easy, just get into a business that has No rent, No insurance, No employees, limited inventory! One that allows you to work when you want, where you want, with who you want. One that pays you for your efforts and has unlimited income potential. And Yes there is such a deal! If you would like to know more, email me. Bill Sheffield |
#7
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trucking
Nope. Playtex Bras ... a lot more fun during the sale...
"stevej" wrote in message ... Oh god...not Amway Bill Sheffield wrote: Sure, That is easy, just get into a business that has No rent, No insurance, No employees, limited inventory! One that allows you to work when you want, where you want, with who you want. One that pays you for your efforts and has unlimited income potential. And Yes there is such a deal! If you would like to know more, email me. Bill Sheffield |
#8
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trucking
Thank you for the advise Steve. but I don't drive trucks (don't know how)
Before trucking I was involved in 4 different types of business's, all in the service sector. On the first one I got shut down by a major competiror who dumped the price of the service bellow my cost, I ended up loosing 15 thousand customers across the states and in less than a month almost went bankrupt, as the customers left me with an outstanding receivable of close to half a mil. So after I paid off all the creditors I had left less than 100 g's and invested in 2 different ventures (service as well), but they did not take off, so I ended up selling them in the market for what I paid for (my only profit was that I bought 2 houses and kept the mortgage payments current for those years. Then with that money I ventured in trucking (BIG MISTAKE). So I think maybe service is not the place to be, maybe I should try manufacturing (but what?), see I have the trucks to deliver the product, plus I have access to thousands of truckers as well, to whom I don't need to pay for 30 days if I hire them for transporting. Maybe I should get into buying and selling some products (but what?)... My problem is that I have no time to do research during the day...my cell phone bill comes in a book (30 pages), I spend hours a day on the phone closing deals (arranging transportation). Most of the people that I deal with are brokers or farmers or truckers...and all they know is this, what they do, as they have been doing it for years...not me man, I'm getting fed up. Today I got lost in the city and drove into an upscale neighborhood....the houses were like in the movies, I did not even knew that in my city there are houses like that. So, why is that if I work as hard as I do, I can't afford a place like that? "stevej" wrote in message ... I always thought that if you wanted to make money you had to have money. If you have to borrow the money, then that decreases your chances of |
#9
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trucking
The new guy wrote:
Thank you for the advise Steve. but I don't drive trucks (don't know how) Before trucking I was involved in 4 different types of business's, all in the service sector. On the first one I got shut down by a major competiror who dumped the price of the service bellow my cost, I ended up loosing 15 thousand customers across the states and in less than a month almost went bankrupt, as the customers left me with an outstanding receivable of close to half a mil. So after I paid off all the creditors I had left less than 100 g's and invested in 2 different ventures (service as well), but they did not take off, so I ended up selling them in the market for what I paid for (my only profit was that I bought 2 houses and kept the mortgage payments current for those years. Then with that money I ventured in trucking (BIG MISTAKE). So I think maybe service is not the place to be, maybe I should try manufacturing (but what?), see I have the trucks to deliver the product, plus I have access to thousands of truckers as well, to whom I don't need to pay for 30 days if I hire them for transporting. Maybe I should get into buying and selling some products (but what?)... My problem is that I have no time to do research during the day...my cell phone bill comes in a book (30 pages), I spend hours a day on the phone closing deals (arranging transportation). Most of the people that I deal with are brokers or farmers or truckers...and all they know is this, what they do, as they have been doing it for years...not me man, I'm getting fed up. Today I got lost in the city and drove into an upscale neighborhood....the houses were like in the movies, I did not even knew that in my city there are houses like that. So, why is that if I work as hard as I do, I can't afford a place like that? "stevej" wrote in message ... I always thought that if you wanted to make money you had to have money. If you have to borrow the money, then that decreases your chances of Bad judgment? -- An amateur built the ark ....professionals built the Titanic. |
#10
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trucking
Buying/selling: This means "channel partner" or "distributor". Better off doing localized warehousing. As competitive pressures increase, you'll see "channel partners" bite the dust and companies going to direct sales as much as they can. Retail outlets will need to skip the middle man and deal more with the supplier companies directly. It's a trend, not a rule. There will always be exceptions. Another trend that the US-effing government doesn't tell you about is how they give big corps tax breaks for locating operations overseas: development, manufacturing, distribution. Mainly, that means China. Companies such as the one I work for (I won't divulge) don't even begin to think about it ...all things go directly overseas. All the reasons that used to be used to argue against such action are gone with the wind, dismissed with a wave of the hand and a statement that "*This* product is very cost sensitive. We have no choice." So when have products NOT been "cost sensitive"? Have you ever met someone who said "Gee, it's OK if I make lower net margin on our product!" Risk mitigation is a thing of the past, except possibly the use of a little geographical diversification now and then...quickly dropped if you can't find an outfit to do what you want, at lightning speed, and at minimum cost ...can you say "Asia is the choice"? Except for software ...that's India. Manufacturing is also becoming "east Europe", places like Hungary. They can make homemade leather shoes, whack a donkey with a stick to lead a wagon, and manufacture computers. What *must* remain in the US (as *ssh*les pull the rug out from under our gross national product, in the name of "favored trade partners" and "world trade"), is warehousing and distribution of 'American' and other products that are produced overseas, but needed here. The balance of labor will lean towards small and medium sized companies rather than towards large blue-chip companies, primarily because these outfits can't afford to move overseas. The US and parts of Europe will remain the primary innovation centers, and that's good ...the rest of the world has at best become good at copying and refining, but never at innovating or invention. Don't believe me? Do your own research and check it against my notes above. Let me know if I'm wrong...I'd love to be. But as a professionals, my wife and I are worried. We are paying off our house ASAP and operating on a cash-only basis ...zero debt within 5 years. If we do that, we can live on only 50% of our current income level, or even less if we adjust our lifestyle. This may become necessary as various transitions and movement of gross product moves overseas (thanks to you-know-whats like Bill Clinton and George Bush ...yes, it's a nonpartisan effort to undermine the US economy, one piece at a time ...Clinton, for one-world government, and Bush, for relations with other nations ...the old form of America is gone and world economy is with us, along with the downsized opportunities and incomes associated with operating with a larger resource pool.) The changes that have occurred in this country since when my career started are startling and scary. We'll play our cards right and do OK. Even if I'm completely wrong (hopefully am), then at worst, our plan will just make life more flexible and easier. Brian "The new guy" wrote in message .cable.rogers.com... Thank you for the advise Steve. but I don't drive trucks (don't know how) Before trucking I was involved in 4 different types of business's, all in the service sector. On the first one I got shut down by a major competiror who dumped the price of the service bellow my cost, I ended up loosing 15 thousand customers across the states and in less than a month almost went bankrupt, as the customers left me with an outstanding receivable of close to half a mil. So after I paid off all the creditors I had left less than 100 g's and invested in 2 different ventures (service as well), but they did not take off, so I ended up selling them in the market for what I paid for (my only profit was that I bought 2 houses and kept the mortgage payments current for those years. Then with that money I ventured in trucking (BIG MISTAKE). So I think maybe service is not the place to be, maybe I should try manufacturing (but what?), see I have the trucks to deliver the product, plus I have access to thousands of truckers as well, to whom I don't need to pay for 30 days if I hire them for transporting. Maybe I should get into buying and selling some products (but what?)... My problem is that I have no time to do research during the day...my cell phone bill comes in a book (30 pages), I spend hours a day on the phone closing deals (arranging transportation). Most of the people that I deal with are brokers or farmers or truckers...and all they know is this, what they do, as they have been doing it for years...not me man, I'm getting fed up. Today I got lost in the city and drove into an upscale neighborhood....the houses were like in the movies, I did not even knew that in my city there are houses like that. So, why is that if I work as hard as I do, I can't afford a place like that? "stevej" wrote in message ... I always thought that if you wanted to make money you had to have money. If you have to borrow the money, then that decreases your chances of |
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