Any solid ideas? I already have a business… if you’re gonna say start a business, be specific about which field would be good at this cost. I would like to turn it into passive income, nothing crazy, maybe a couple hundred a month if possible. What would y’all do?
Consider starting a trucking company. Find a good driver, buy a truck and insurance, and let them manage day-to-day operations. Pay them well and ensure they’re competent. Payment plans can vary; I’ve seen splits like 60/40, 70/30, or even 50/50 in family-owned setups. Over time, save for another truck and find another good driver to expand your business.
@Tatum
You’ll inevitably face competition.
Reagan said:
@Tatum
You’ll inevitably face competition.
Is the trucking market saturated?
Reagan said:
@Tatum
You’ll inevitably face competition.
Is the trucking market saturated?
It can be, depending on the area.
Reagan said:
@Tatum
You’ll inevitably face competition.
Is the trucking market saturated?
Yes, I apologize for not mentioning it earlier. Look into your local market to gauge how many competitors you have. You could also explore niche trucking markets like frozen goods, lumber, or chemicals (which require specific certifications and a greater level of insurance).
Reagan said:
@Tatum
You’ll inevitably face competition.
Oops, I forgot about competition. It’s very saturated in the area where I moved. It’s worse back home, but not as bad as ‘Hotlanta’.
@Tatum
Sorry, I’m confused. Is that sarcasm?
@Tatum
How’s the trucking market in Southern California? Any resources you recommend?
I’m a 1/3 partner in a restroom trailer business where I do nothing. I put up all the money, and the other two partners are paying me back for their share. This arrangement improved their lives significantly and provides me with a good return.