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| Name | How to Start a Dump Truck Business ($252K a Year) |
| Video Uploader | Video From Nate Jones |
| Upload Date | This Video Uploaded At 21-09-2023 17:15:00 |
| Video Discription | There is a MASSIVE OPPORTUNITY in starting a Dump Truck Business. There are a shortage of CDL drivers so therefore there is a shortage of Trucks. Here is how we can start it. Know your costs associated with starting: - Reliable Used Tri-axel Dump Truck: $100K - Down Payment: 10% = $10,000 = $90K loan. - $90K Loan = 6 Year Note = $1,500 a month Insurance: $10,000 a year = $3,333 a month 425 Gallons of Gas a Month = $1,900 a month TOTAL Monthly Cost: $4,233 - $50,796 a year How much money can we make: Average Rate per Load: $160 - $200 = Average: $175/per load Average Loads Per Date: 5 Loads 6 Days a Week = 30 loads a week = $5,250 a week $21,000 monthly income = $252,000 a year. CASHFLOW: $21,000 a month income $4,233 a month in expenses ==$16,767 in profit per month! Annual Profit: $200,000! Ability to Scale. Since we are cashflowing so much we need to reinvest back into the business and get another dump truck. As you grow your business, you can get out of the truck and get into the office. Find drivers you will pay by load or pay them by the hour. Think of all the ways in which it can fail. Create Strategies around minimizing it. 1. Can't get loads. You failed to network with other dump truck companies, aggregate companies, general contractors, etc. 2. No showing. You need to do what you say you will do. If not, people will never call you again. 3. Safety and Insurance. If you get DOT violations and have a ton of insurance claims. No insurance companies will want to quote or you will have to pay way to much. 4. Failing to Scale. Not creating relationships with other drivers in preparation for growth. Legal Up. 1. Create an LLC 2. Buy Insurance. Look up wexfordins.com 3. Attorney to review your contracts. Commit to Starting. #dumptruck #trucking #entrepreneur #businessideas #entrepreneurship #business #entrepreneurlife |
| Category | People & Blogs |
| Tags | how to start a dump truck business | starting a dump truck business | dump truck business | how to get started in the dump truck business | How to start a dump truck company | How to start a dump truck company with no money | dump truck | start dump truck business | buying a dump truck | dump trucking and money | how much do dump trucks make | how much money do dump trucks make | dump truck driver salary | nate jones entrepreneur | nate jones business | trucking business | sand and gravel |
