Biggest Myths About Owning a Second Truck | Separating Fact from Fiction
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- Опубликовано: 1 июн 2024
- Biggest Myths About Owning a Second Truck
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Join Ronen as he dives deep into the world of truck ownership, debunking the most common myths surrounding the idea of expanding your fleet with a 2nd, 3rd, or even 4th truck. Whether you're a rookie driver stepping into the industry or an experienced professional contemplating fleet expansion, understanding the truths and misconceptions about owning multiple semi trucks is crucial. Get ready to separate fact from fiction and gain valuable insights into the realities of managing a small trucking fleet!
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📚 Chapters
00:00 Introduction - Biggest Myths About Owning a Second Semi Truck
00:34 RUclips Poll Results - What are the most common myths about owning a second truck for passive income?
01:45 In reality, what actually happens when you own a second, third or fourth semi truck?
02:19 What happens when a truck driver walks into a dealership looking for his second or third truck?
02:31 Truck Drivers OVER PAY for trucks at dealerships
02:42 Over charging interest rates on your financing
03:01 Are Small Fleet Owners living the dream?
03:13 It's hard to find reliable truck drivers as a small fleet owner
03:39 Opening your own authorities
03:55 What happens when you get your first break down on your new truck?
04:07 Liable for truck payment expenses
04:26 What happens when you receive negative pays?
05:13 Will you be able to stop working as a truck driver when you have a second, third, or fourth truck?
05:44 Passive Income for truck drivers with multiple trucks
06:15 Trucks for sale at dealerships in the US
06:32 Is hiring new truck drivers easy?
07:02 Consultations with Ronen (Small Fleet Owners & Owner Operators)
08:22 How do you open a profitable small fleet?
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He is absolutely right nothing just facts he has spoke nothing but the brutal truth
I bought my first truck in 1964 when I was 20 years old. Interstate commerce was regulated by the ICC and Texas even regulated commodities that were ICC exempt. I had no operating authority so I had to own everything I hauled. My father owned a gasoline business and I could haul gasoline and I got into buying grain and feed ingredients which turned out to be a good thing. I added a second truck in 1971 and doubling everything was difficult, but it worked and I added trucks. I even found loopholes in the Texas Railroad Commission laws and became the first carrier in Texas to transport bagged feed statewide. Texas was deregulated in 1995, but having a customer base helped a lot. Also in 1992 I got a trailer company to work with me to build a grain trailer that would unload gypsum Truck, trailer, driver and 100 gallons of fuel weigh my units weigh under 24,000 lbs. Gypsum pays by the ton and no one is close to that tare weight. At one time I had as many as 15 trucks. I am now down to 11 and I am getting rid of most of them. The gypsum mine is closing next week. I have been paying cash for everything I bought for many years. I am going to add a few sleeper trucks to give a job for a few guys that want to stay with me. One has been with me for over 33 years. But I expect I will be lucky to break even with trucks that are paid for. For the past almost 60 years I have been fortunate to find niches, but right now I don't see any niches. Forty years ago I helped organize a small home town bank and I was still driving quite a bit myself then. I was on the loan committee and I attended many loan committee meetings via pay phone. Our bank did not finance any trucks because we considered it too risky. We sold the bank at a good profit 20 years ago. I still maintain a CDL and I pull a drop deck to get machinery that I buy and I enjoy it. But my advice to anyone who wants to buy a truck now would be, "Forget it." The price of used trucks are falling like a rock. Possibly when the market hits bottom and enough players have left the industry, there will be an opportunity to buy a good truck cheap and find a niche of good rates. To any one who owns one truck now and is thinking of a second one, I would consider that idea even crazier than buying a truck in the first place. I hope some young guys will consider my advice, but I am afraid most will think, "What the hell does an old geezer who is about to turn 80 know about trucking business."
Thanks for keeping America rolling for so long
you sound like you would be an amazing person to have around at a dinner table conversation.
Very sound advice. Thank you for sharing it. Good luck in the future. I owned trucks and had drivers for a couple of years. The only one that made any money was the drivers.
Appreciate your comment full of jewels
I started with a truck last year, I now own 3 trucks. What a mess. I want to go back to one truck. Issues with cashflow, insurances, mechanical failure, employees never happy. One truck was great. Right now, even if you own 10 truck, there is no money to make. Rate are low. Loads are hard to find.
This is some of the most honest reality checks I’ve seen on RUclips for trucking. Respect!
Simple fact is most truck drivers are not smart enough to run a business and need to recognize that and instead of failing at it and destroying their lives they need to be a company driver and then save up and learn a new skill and switch careers and make good money and come home every day. Truck driving should be a short term career, not a lifetime goal.
I live in the LA area. Just Truck parking is $400 to $600 a month, if you can find it, let alone for 3 or 4 trucks
Unless you have millions of dollars to invest or some good contract, don’t buy another truck or you will be working for the driver not the other way around. Trust me i tried.
The problem is that someone is always trying to cut in on your business.
I own a second truck but that is so that I'm never down I switch into my backup truck when I need to get the other truck serviced or when I was having an in frame done which I've never missed delivery in 10 years
Everything you said on this video is 💯 currently have 5 trucks an Im about to start down sizing an get rid of equipment.
Great video Ronen. Ive been at this 36 yrs and been a 1 truck owner op for a long time.
I have never considered any more than 1 and never will
I know i could never find a driver that would do what i do
Its hard to get a driver that will run the way i do and maximize all my working hours..
I ve also got OCD on cleanliness and how a truck is looked after
All in all id be a horrible employer , but at least i know that....
I know i run a great business and have paid off equipment and make a good living from trucking even in this tough market
You nailed everything in this video that i dont want to deal with , and after a life times hard work not willing to risk everything ive worked hard for by having employees....
Every one has their comfort zone and i know my place is a 1 truck owner operator and im.fine with that
Started w 1 truck in 2011 … currently have 20 and that is more than enough … way tooooo many headaches.. have been blessed to have same core (17) drivers for years .. guess it starts from the top … I’m a strict but very fair boss
Owning more than 1 truck is the same as owning an adult daycare center. Finding a reliable driver is very rare. Look at all the companies out there constantly looking for drivers.
OH TOTALLY!
So how did ET Transport get their start. According to you don’t try it you’ll never make it.
@fernando809able exactly! I guess this video is to stop the competition 😅😂
@@gregwilliams2875 lol
Yeah exactly. It’s so hard he gets to make RUclips videos all day.
@@gregwilliams2875go ahead and get your own truck.
He probably had a lot of capital to start with, that's not hard to understand.
That’s why you have to be smart about what you buy. My father started with one truck and saved as much as he could and he bought a 2nd truck used from a failing company cheap CASH. That’s the key word CASH. he owns 10 trucks today and not one truck has a note. He has 8 operator and 2 back up trucks. And cycles them when maintenance and repairs are done to the fleet. And yes we feel the hard times but guess what we are waiting for those who can’t withstand the heat to sell cheap and we have another truck for the fleet. As long as your smart and don’t rush to grow you can be very successful. My dad came to this country with coins in his pocket and look at him now.
You sir took the words right out of my mouth. I'm an O/O 8 years now & could have rushed to grow & bite off more than I could chew several times but chose not to because I've learned from other people's mistakes. I've known fleet owners that have hit the lotto with good drivers & others that can't keep a good one & drivers that drive it like they stole it & it's forever in the shop. Fleet owners that are not a people person that are ill equipped to handle different personalities and all the baggage that can come with certain ones & do not properly vet, or give problem drivers too many chances. I don't have all the answers because I cannot yet speak from empirical knowledge on the matter but I've personally seen on several occasions certain people make it happen as a fleet or mini fleet owners that end up with good drivers (that although are nice decent people) but aren't the sharpest tool in the shed. It can be done. But if it was easy everybody would be doing it & succeeding at it.
Top quality content. Really good and useful information for the trucking industry ⭐️⭐️⭐️⭐️⭐️
Gday Ronen….. Same here in Australia mate.. Great content, very informative.
Another great video sir lots of helpful information there.
😂😂most of this video is exactly what happened to my attempt of expansion. I feel its a better time because trucks are more than half of what i paid for my 2nd truck a year ago😅. I dont know why ppl say your cap in the comments, you keep it a complete buck💯.
Haha i just become o/o and I was thinking about buying 2-3 truck man when I started to do the math I was blown aways most of the time you ain't taking any money home
Old man once told me. Buy a 2nd 3rd, etc, truck because you want one, not because someone else wants you to buy one.
I respect you man
Thanks!
It’s easy to grow your fleet efficiently it’s the mindset work and team you have
He must've been reading my diary!
I just parked the second truck to get it properly fixed. It may take a year or so...
Absolutely 💯 correct
I own thousands of trucks, I also own a driving academy. The secret is to sucker young stupid people into attending my school, and then leasing them a truck. After they screw everything thing up, I take the truck back, and lease it to the next dummy.
I hope you're joking...
@@SixDaysOTR You probably work for me.
@@pointnIaugh😂
@@pointnIaugh😂😂😂
You da man!!
I’m not against to you
But if you don’t try it, you can’t make it
You also started with the one track now you have 100+ track. If you can do it, I can do it.
Only thing how I managing the finance and money and employees and customers.
Having grown up as a kid around trucks, the rule of thumb was buy one truck and drive it yourself. Or go with ten or more reason being you become a trucking company.
I know there are exceptions to this
Everything in this video is 100% the brutal truth... before this freight recession started I had 4 trucks and trailers. I've dealt with terrible drivers, getting fisted by the insurance company, breakdowns, tows, having loads needing recovered, and even one truck engine blew up. I ended up downsizing back to just me and all of the headaches and the constant bleeding of money actually stopped.
In reality You probably need 10+ trucks to actually start making a reasonable passive income and there's no such thing as "more free time" until you get to 20+ trucks where you can start to hire people to delegate office work to. I'm friends with a 100+ truck fleet owner who STILL jumps into his truck from time to time and questions himself every now and then on why he did this to himself😭😭
1st truck I drove paid off it self, 2nd truck put driver on agreed on pay and home time he happy, 3rd truck same as 2nd truck all running under a company’s authority, I get a %, dispatch gets a % and driver gets paid and everyone is happy and been successful and retired unemployed ever since. All trucks paid for budget on point and business accounts for each truck I’m good. Snow ball effect one truck paid for other.
Do you consult for a fee. Could use help with a direction to go.
The way economics are today you're better off being a company driver then an owner operator or lease operator
how much for 30 minute consultation?
That why you buy cash trucks 😂
Did anyone ever try a Tatra Truck ?
Drivers are just pain in the asses. Plain and simple. Complain about everything rain, sun, pay, sleep, dispatch and everything on earth.
I’m trucker myself but I work for company I been thinking either getting cargo van so I can get Box Truck what’s your thoughts on this.
Where do you live at. I know of some good paying box truck work.
Worse then semi no money in box at all
@@tjn2254PA
@@daimu7971I drive semi but for company not sound rude but I never want own one.
Started in 2020 one truck by 2022 9 trucks 2023 down to 2 was a fk n nightmare don’t do it and no insurance only keeps going up and you never stop working you work more it’s you that has to jump in one of the trucks when the drivers say they have to go see their mom or dad because they are sick and they live all the way on the other side of the map which is usually a BS lie I’ve caught so many drivers lying so it’s you that will be driving the truck sitting and you better hope you don’t have 2 other drivers wanting to sit or they have to go out of town emergency smh
This is info is far from right. Sorry man but you’re discouraging people with the wrong info you provide. Listen to everyone out here. This industry is full of opportunities. I run 5 trucks in Florida/Ga and let me tell you there’s money to be made with the right connections. Please believe in yourself and have a plan. Yes it’s tough out here with rates, fuel, and etc. Nothing beats working for yourself, good emploeeys are hard to come by, if you treat everyone right they’ll treat you right and if they don’t perform accordingly you replace them. Simple stuff. Main thing is having the plan!
May God Bless Us All
But ask him how much he's making and how he got there lol. Is it as glamorous as everyone says? No but does reach a tipping point. What he described is a guy that doesn't know his numbers...
Man people got thousands of trucks don't let people fool you keep just one truck than lol ok 1 truck better than 1000
Just be Indian
Racist mf 👀
I know how to beat it I figured it out after 9 trucks should of done this from the begging hit me up if you want to know and I might tell you
😁😄😀😁