Sunday, September 14, 2014
Starting my own business
I'm Jermichael. This blog is about my business that I have just started. I started my own trucking company about a week ago and I am very excited about it. I was working for a company for the last few years and after I found out how much money they were making on every load that was taken by company drivers, I decided that it was time for me to come up with a plan to start my own company and increase my income. So I started looking for companies that were looking for companies to haul freight for them. I had to brainstorm for a minute to come up with companies to go to and make a great first impression. I always present myself in a professional way so I thought that it would be easy for me to find companies to haul freight for. But it was a lot tougher than expected. I finally decided to talk to a few trucking company owners for advice. I met one guy that has his own company but only had one truck that he was driving. After talking to him, he suggested that I lease my company to his company and that way I can get some good experience before I try to go out on my own and get loads. The first thing I needed to do was purchase a truck. I searched for weeks for a great deal but had no luck. Finally, I found a great deal on a truck. When I went to the dealer to look at it, I fell in love with it right away. After test driving the truck, I decided to go further with the purchase. When I got approved, I knew that the next step would be t find a trailer. I became frustrated with finding a trailer because all of the trailers that I found were actually cost more than the truck that I purchased. I realized that starting my own company was going to cost me a lot more than I expected. But I had saved for this so I figured that I could manage. I knew that I had no other choice because my first truck payment would be due by the end of the next month so I had to get something started asap. I found out that in order for me to get my truck on the road I would need to pay heavy duty road tax, pay for my company name to be saved, Valorem tax, purchase a tag for the truck, get insurance on the truck, and have flu money for the first two weeks. After I paid for all of the things that I just mentioned, I realized that in order for me to get started, Leasing my company to the guy that I met company would be the best idea. This way, I would not have to get a trailer right away because I could rent one from him. I would also have guaranteed loads and someone to help me on the things that I did not know about trucking. We both negotiated on a percentage for every load and rental fee for the trailer. So I leased on to his company and started my first week with loads for the whole week. The first week was a great week for both of us. I did not have to use as much moony for fuel as I thought I would have to and I had no problems with my truck. But the next week I ran into a couple of issues. My truck started running hot and I could not find out why. I was able to take the loads every day but I had to stop a lot to let the truck cool off during each load. I realized that if I continued to do this, it would make things worse so I had to put it in the shop to solve the problem. Mind you, this is during the 2nd week of working so I have not received a pay check yet. Money was tight, I only had a little extra left over from the gas money that I saved from the previous week. When the bill was presented to me after my truck was fixed, I nearly fainted. But I knew that I had a check coming soon so I had to do what I had to do. Problem solved and now it was time to try to work a little extra to make up for the loss. So far so good. Im beginning my 3rd week in the morning and I did pretty good on rates so far. My next step is to save up to purchase a trailer and my own authority so that I can get my own loads and start saving to buy more trucks. My plan is to get all of this done by the next two or three months and purchase another truck at the beginning of next year. That way I can start hiring drivers and really feel like a company owner.
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