Does This Sound Like A Good Business Plan?

Topic 15489 | Page 4

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Old School's Comment
member avatar

Great stuff Six String!

My sentiments exactly on secondary education. Things have changed so much in the last thirty years, and the dynamics of employment opportunities have definitely changed. I remember my dad telling me a long time ago that he would pay for my secondary education, and he did, but that he thought I would be better served by following my interests and self educating myself at the public library. That was before Al Gore invented the internet ;-)

Linden's got a good solid plan, and it's nice to see a young person with such focus.

OWI:

Operating While Intoxicated

Big Scott's Comment
member avatar

Your plan sounds good to me. I agree that you should get some education after HS. You don't need a degree as much as the knowledge. Learning how to run a business weather you get a degree or just take classes. Also, learn finances and budgeting. You can practice those two now. Learn to budget any money you get now. There is nothing wrong for you to start saving now for your first truck. Why shouldn't you, some day, be able to buy a brand new truck and trailer for cash? This is possible. You should also learn to invest money for retirement. Starting now, you could plan on when you want to retire and with how much money. I had this same kind of advise when I was your age. If I had taken it, I would be a retired multimillionaire. Instead, I am 49, living paycheck to paycheck and barely getting by. I make $15 per hour 40 hours per week. I know I can make as much or more driving OTR and it will be easier for me, because I love to drive. I would also suggest you start learning mechanics. When you get your first car do all the maintenance and repairs yourself. Then take some courses on diesel mechanics. That way when you have your own truck you will be able to save money by fixing most things yourself. Now remember to make your plans slightly fluid. Why? Because life happens. Things you can't foresee or plan for will happen. Look at the changes in the world in the past 5 years and imagine the changes that can happen in the next 5 years. When I was your age the government broke up THE phone company. AT&T went from being the only phone company in America to a bunch of smaller companies and an industry was born. So, you see, in the blink of an eye, the world can change. Good luck. Enjoy life. Keep planning and tweek your plan as needed.

OTR:

Over The Road

OTR driving normally means you'll be hauling freight to various customers throughout your company's hauling region. It often entails being gone from home for two to three weeks at a time.

HOS:

Hours Of Service

HOS refers to the logbook hours of service regulations.
Chris (the chick)'s Comment
member avatar

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I don't know if you realize it or not but right out of high school you will have a very difficult time finding a job. The main reason being that you have to be 21 before you can cross state lines driving a heavy commercial vehicle.

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Linden, pat gave you wonderful advice but I'd recommend not doing cdl until your 21because most companies want you in orientation shortly after getting cdl (couple months). Even if the company can legally hire you, you likely will run into issues of their insurance company not being ok with it.

Just going to share that many of the applications I came across actually stated 23 yrs of age or older as a hiring req. There were some that were only 21 still, though

CDL:

Commercial Driver's License (CDL)

A CDL is required to drive any of the following vehicles:

  • Any combination of vehicles with a gross combined weight rating (GCWR) of 26,001 or more pounds, providing the gross vehicle weight rating (GVWR) of the vehicle being towed is in excess of 10,000 pounds.
  • Any single vehicle with a GVWR of 26,001 or more pounds, or any such vehicle towing another not in excess of 10,000 pounds.
  • Any vehicle, regardless of size, designed to transport 16 or more persons, including the driver.
  • Any vehicle required by federal regulations to be placarded while transporting hazardous materials.
Linden R.'s Comment
member avatar

Your plan sounds good to me. I agree that you should get some education after HS. You don't need a degree as much as the knowledge. Learning how to run a business weather you get a degree or just take classes. Also, learn finances and budgeting. You can practice those two now. Learn to budget any money you get now. There is nothing wrong for you to start saving now for your first truck. Why shouldn't you, some day, be able to buy a brand new truck and trailer for cash? This is possible. You should also learn to invest money for retirement. Starting now, you could plan on when you want to retire and with how much money. I had this same kind of advise when I was your age. If I had taken it, I would be a retired multimillionaire. Instead, I am 49, living paycheck to paycheck and barely getting by. I make $15 per hour 40 hours per week. I know I can make as much or more driving OTR and it will be easier for me, because I love to drive. I would also suggest you start learning mechanics. When you get your first car do all the maintenance and repairs yourself. Then take some courses on diesel mechanics. That way when you have your own truck you will be able to save money by fixing most things yourself. Now remember to make your plans slightly fluid. Why? Because life happens. Things you can't foresee or plan for will happen. Look at the changes in the world in the past 5 years and imagine the changes that can happen in the next 5 years. When I was your age the government broke up THE phone company. AT&T went from being the only phone company in America to a bunch of smaller companies and an industry was born. So, you see, in the blink of an eye, the world can change. Good luck. Enjoy life. Keep planning and tweek your plan as needed.

Believe me, I know mechanics! My Mom's boyfriend (parents are divorced) is a retired contractor and has worked on cars since the time he was my age... He's tought me so much that I'd probably be able to disassemble and reassemble an engine and have it run! What I am thinking is that with all that time on the job I should be able to afford a car carrier when I quit the Car Transport company. And lucky for me in Rhode Island taxes are pretty reasonable (well, everywhere except for where I live on the water) so when I do actually buy my first house I should be ok with taxes and all.

OTR:

Over The Road

OTR driving normally means you'll be hauling freight to various customers throughout your company's hauling region. It often entails being gone from home for two to three weeks at a time.

HOS:

Hours Of Service

HOS refers to the logbook hours of service regulations.
Linden R.'s Comment
member avatar

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I don't know if you realize it or not but right out of high school you will have a very difficult time finding a job. The main reason being that you have to be 21 before you can cross state lines driving a heavy commercial vehicle.

double-quotes-end.png

double-quotes-end.png

Linden, pat gave you wonderful advice but I'd recommend not doing cdl until your 21because most companies want you in orientation shortly after getting cdl (couple months). Even if the company can legally hire you, you likely will run into issues of their insurance company not being ok with it.

double-quotes-end.png

double-quotes-end.png

Just going to share that many of the applications I came across actually stated 23 yrs of age or older as a hiring req. There were some that were only 21 still, though

I know... I am looking at all these applications and have seen a few who are hiring drivers 21 or older. And by the way, and this is a question for all of you, has anyone here been to the Iowa 80 Truck Stop? Because I have been watching documentaries, tours, looking at maps and pictures about it and it looks cool. Is it nice?

CDL:

Commercial Driver's License (CDL)

A CDL is required to drive any of the following vehicles:

  • Any combination of vehicles with a gross combined weight rating (GCWR) of 26,001 or more pounds, providing the gross vehicle weight rating (GVWR) of the vehicle being towed is in excess of 10,000 pounds.
  • Any single vehicle with a GVWR of 26,001 or more pounds, or any such vehicle towing another not in excess of 10,000 pounds.
  • Any vehicle, regardless of size, designed to transport 16 or more persons, including the driver.
  • Any vehicle required by federal regulations to be placarded while transporting hazardous materials.
Big Scott's Comment
member avatar
And by the way, and this is a question for all of you, has anyone here been to the Iowa 80 Truck Stop? Because I have been watching documentaries, tours, looking at maps and pictures about it and it looks cool. Is it nice?

There are plenty of YouTube videos from drivers who have been there.

Linden R.'s Comment
member avatar

double-quotes-start.png

And by the way, and this is a question for all of you, has anyone here been to the Iowa 80 Truck Stop? Because I have been watching documentaries, tours, looking at maps and pictures about it and it looks cool. Is it nice?

double-quotes-end.png

There are plenty of YouTube videos from drivers who have been there.

Yup... I've seen alot of them... it is on my bucket list of things to do as a trucker: Visit the Iowa 80 Truckstop

I actually have their catalog coming in the mail over the next couple days... It was free so I got one just because I like reading stuff like that.

For instance, I used to have a big Uline Buisness Supplies Catalog, and I would take a ballpoint pen and put a checkmark next to anything I wanted, and multiple checks if I really wanted it. Of course, I didn't get anything from them because I was about 6 at the time and at this point I lost the magazine... But I am thinking something like that to do with the catalog. Like a trucking wish list. I know I can do all this online, but I prefer good old pen and paper.

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