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Starting trucking company questions
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Bubba David
Posted 6/25/2022 21:46 (#9721248)
Subject: Starting trucking company questions


SC KS
Got a couple questions for those who own trucking companies or are involved in transportation.

So for the last year or so a good friend and I have been planning on starting a trucking company. The plan was to start this last spring(a couple months ago) but due to fuel prices and with the truck market being so high,, we’ve decided to put it off until the end of this year/beginning of next. I sold the truck I had used for harvest when the market was high, and have been waiting for the market to crash to get back in, which we’re getting to that point :-)
Anyway, he doesn’t necessarily want to own a whole lot of the business because he doesn’t want the risk, but more, own a couple trucks eventually to lease on and dispatch all trucks we end up putting on the road. Which I have enough contacts for transport, so finding loads won’t be a huge issue. What my question is, is there any easy way to set it up where I own 70% and he owns 30%? Would an LLC be easiest to do this? Still trying to get him to do a 50/50 with me, but he more wants to operate it and make his money off dispatch percentages rather than own more of it and have the risk. Which works out ok, it would give me more time for harvesting and cattle work. Any advice or ideas on anything? He’d really like to get this going this winter, providing we see a little change in fuel prices. Thanks

Edited by Bubba David 6/25/2022 21:47
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