/diy/ - Do It Yourself

>BUSINESS IDEA:
Trucking business.
>STARTUP COST:
$0 cash
$5000 bank loan
>SKILLS REQUIRED:
CDL class A
Ability to pass drug tests
A pulse
>TOOLS REQUIRED:
Cell phone with data connection
>WORK INVOLVED:
Truck driving
>PROFIT:
First 5 years using extremely conservative estimates
$20,000
$40,000
$40,000
$80,000
$80,000
>OTHER INFO:
Get a bank loan to get a CDL A. They're handing these out like candy. Pay the loan back with the first year's profits as a company driver.
Use profit from year two to invest in a truck and trailer, as well as added cost of business.
Use profit from year 3 to reinvest in the company
In years 4+, either maintain the company at one truck, or reinvest profit in additional trucks. A model that usually works is sell 1 truck, buy 2 trucks, sell 2 trucks, buy 4 trucks. By the time you get up to 4 trucks, you should be back up to even with year 4's profit. Anything beyond that is gravy.

Its working for me so far. I'm in year 3, and the profit figures I posted are well below what I earned post expense/tax.