Here are 10 things to think about before you even consider starting in the hauling industry…
1. Time Away From Home and Family
This should be one of the very first things you consider. Are you prepared to miss birthdays, holidays, ball games, family dinners, and everyday moments you can’t get back? Is your spouse prepared to handle things at home while you’re gone? This industry can put a serious strain on relationships and families. Making money is important, but so is understanding what you may be sacrificing to make it.
2. Your Financial Cushion
What happens when freight slows down, your truck breaks down, or you’re waiting weeks to get paid? Can your business survive without a steady income? We highly recommend having at least 3–6 months of living and operating expenses saved before purchasing equipment or making any major financial commitments in this industry.
The last thing you want is to feel pressured into taking unprofitable loads simply because you have bills that need to be paid. Having that financial cushion gives you a little breathing room when things don’t go as planned.
3. Your Startup Costs
Separate from your financial cushion.
Buying a truck and trailer is just the beginning. Insurance, authority, registration, equipment, and other startup expenses add up quickly. Your goal should be to keep your operating costs as low as possible from the very beginning.
If you jump into this industry and drain your financial cushion just to get started, you could find yourself living paycheck to paycheck for years. The last thing you want is to start a business already struggling to stay afloat financially. Just because you can afford to get started doesn’t necessarily mean you can afford to stay in business.
4. Running a Business
As an owner-operator, you are responsible for bookkeeping, maintenance, paperwork, customers, taxes, permits, equipment, and cash flow.
The work continues after hours. Being your own boss can be rewarding, but it requires discipline and organization. Make sure you understand the responsibilities and have a system to stay organized.
5. Your Reason for Getting Started
Are you entering this industry because you’ve done your research and see a legitimate business opportunity, or because someone on social media made it look easy? Because despite what my videos or anyone else’s may make it look like, this is NOT an easy industry to get started in!
Social media only shows you a small glimpse of what goes into running a hauling business. There’s a whole lot that happens behind the scenes that you don’t see, and it’s important to understand that before deciding to jump in.
6. Your Expectations
This industry isn’t guaranteed money. Some weeks will be great, and others won’t. That’s just a fact! Are you prepared for the ups and downs?
You cannot get into this industry expecting to make easy money or assuming that just because you’re willing to work, the loads and money will always be there. There will be slow weeks (even months), unexpected expenses, breakdowns, and times when things simply don’t go as planned.
7. Your Physical and Mental Health
Long hours behind the wheel, irregular sleep schedules, unhealthy eating habits, and the stress of running a business can take a serious toll on your physical and mental health. Are you prepared to prioritize your well-being while managing the demands of this industry?
It may seem like a small thing to consider, but spending days, weeks, or sometimes even months on the road away from your family can get lonely. It’s important to have a plan in place to take care of yourself, both physically and mentally.
Whether that’s planning healthier meals on the road, staying grounded in your faith, having a strong support system back home, or all three, finding ways to stay healthy and connected can make a world of difference when you’re spending so much time alone.
8. Your Ability to Set Boundaries
Are you willing to turn down a load even when the payout looks good on paper? Just because a load pays well doesn’t necessarily mean it’s profitable for your business.
Are you disciplined enough to stick to the boundaries you set, whether that’s your minimum rate per mile, the lanes you are willing to run, or the type of freight you will haul? It’s easy to set standards for your business, but are you willing to stand by them when money is on the table? Remember, just because the wheels are moving doesn’t mean you’re making a profit!
9. Your Ability to Manage Money
Everyone worries about what happens when the money isn’t coming in, but what about when it is? A few great weeks can give you a false sense of financial security.
Are you disciplined enough to set money aside for taxes, maintenance, future expenses, and slower seasons instead of treating every deposit like a paycheck? Revenue is not profit, and a good week doesn’t necessarily mean you have a profitable business.
10. Your Exit Plan
Can you afford to sell your equipment at a loss? Have you put everything on the line just to get started? If this business doesn’t go as planned, will you be able to recover financially, or will it put you and your family in a difficult position?
I’m all for having faith that things will work out, but that doesn’t mean throwing caution to the wind. Believe in what you’re building, but be smart about how you’re building it. Have a backup plan, because sometimes things don’t go according to plan.