Wanting To Buy Own Semi Then Lease It Out

A friend of mine was talking about buying his own semi and then leasing it out to a trucking/hauling company. For instance, I buy a sand hauling truck and lease it out to Tim Ables trucking company. I won't drive the truck, Tim Ables hires the driver and I'm not sure what my role would be. Is this even a thing to do? I know I can get online and research it there but I'm looking for someone who knows first hand about this and can lead me in the right direction. Thanks.

What is is you hope to gain by doing this?

I hear of some O/O's leasing additional trucks at some companies and having drivers drive for the O/O.

Dave

Money, buy a truck, pay it off, buy another truck, pay it off and so on and so on:) In theory:)

I will let you be the guinny pig. Let me know how it works out for you!

In theory the plan sounds pretty simple, eh? Like anyone could do it, right?

...and that's exactly why that plan won't work. In the business world you'll find that the easier it is to do something the higher the competition and the lower the profits. Anyone can buy a truck, hire a driver, and lease it on somewhere. Therefore there is very little profit in it, if any.

No, you definitely don't want to try anything like that. At minimum you should have a couple of years experience in trucking as a company driver before you consider buying or leasing anything. And hopefully in that two years you'll learn enough about the industry from a business owner's standpoint that you'll realize buying or leasing a truck is an awful business to be in.

Right on, I appreciate the feedback.