After 15+ years in the transportation/operations/logistics industry and on the verge of watching yet another company I work for go belly up I'm seriously considering entering the business on my own. Of course I'm financially unprepared for it but it's something I have always aspired to do. Conventional wisdom is telling me otherwise but this kind of feels like my last chance to do it before having to simply settle in somewhere until my golden years are upon me. I know this is probably an odd post but I am very serious and genuine about it. I would greatly appreciate any advice anyone could give to someone considering venturing out on their own. I thought about the 3PL industry but the expense of a bond and the cost of the float just doesn't seem feasible to me at the moment. Plus, I would like to think I would have more control and a better handle on things if I started out being asset-based. I'm leaning towards a hot shot/cargo van/sprinter type company as I don't have a CDL or even a 'B' license. I know there is a tremendous amount involved with regard to buying vs. leasing or renting units, driving myself or hiring a driver, MC #s, Insurance, DOT Auth, etc. and plenty that I'm missing so again, any info would be appreciated. I guess to wrap it up, maybe some info on me, my perceived qualifications and my market might help. I'm based in Chicago and have worked for mostly 3PLs as well as a couple asset-based OTR trucking companies for a little better than 15 years. Most of my background is in brokerage and operations. By my own admission I'm not much of a salesman though I'd like to think I have made plenty of friends in the industry that I could reach out to. It has always been a dream of mine to own my own company. Truth be known I am a bit of a control freak. I never really cared what industry though transportation seems to make the most sense seeing that it's what I know. So, sorry for the long winded post and thanks in advance for any replies! Hopefully asking people who are already established in the business how to break in isn't bad form on my part.
Thinking about getting into the business, will take all the advice I can get!
- Thread starter jj21273
- Start date
paullud
Veteran Expediter
Depending on how financially unprepared you are you could lease onto a company that allows you to book your own load after sitting a period of time, that way you have less startup headaches and someone else booking freight for you which can give you a chance to test out those connections.
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Posted with my Droid EO Forum App
JJ, if you are financially unprepared, wait until you have the money before starting out on any business venture.
Again, if you are financially unprepared odds are you will get to see your very own company go belly up.
purgoose10
Veteran Expediter
Moot has a very good point. Been an up and down year.