Thinking of a career change, seriously

[LeRoux Strydom]

I am a part owner in a bulk transport business. We carry bulk in 20 ton (metric) and upwards with a fleet of 35 rigs.

It is not a glamorous business to be in, no matter if you carry BMW's or scrap metal.

Fuel is only about 30% of your costs. Don't discount maintenance, tyres, lease payments, etc etc ad naseum. Profit only comes from having a large fleet where your fixed overhead costs are sufficiently diluted and you have the muscle to negotiate large transport contracts.

In your business model, you will forever be competing with the next driver/owner who will undercut you for cents/mile.

The last thing you want to do is to drive a truck yourself. It will suck up all your time leaving you with very little time for family/leisure or attending to your business otherwise.

Why don't you find job or set yourself up in the racing industry? What sort of engineer are you?

[TerryBPP]

Originally Posted by berettafan

find a nice rest stop on I95 and bring lunch. count the car carriers over a period of time and extrapolate a week/month/year's worth of work from that.

But how many of them carry lambo's & porshes. I think some of you are missing my question. I'm not looking to start a mass quantities car dealership shipping firm. I would like to only ship the top end vehicles. Say you buy a RSR from Miami and you want it delivered to Ohio. Are you going to want it thrown on the back of an open trailer with a bunch of Ford Escorts or would you want it to be coddled in a climate controlled, safe environment, by people that know and love cars? Maybe I'm way off but I see a market for that.

Originally Posted by 911Rob

Terry,
I hear ya buddy! Good call imo.

Go into real estate sales.
With your engineering background and people skills, you will rock!
Developers love realtors that actually know what they're talking about, give it a try buddy, you'll love the freedom and the money is outstanding!

Here's one of our projects; the developer just loves us and has referred us over $10Million in other deals now too; ha, ha!
LINK: www.PortSideCourt.ca

YOU can do it, make the break, you'll never look back!
Cheers,

You explained 1/2 my job, which is the portion I enjoy. I consult realtor's on a daily basis. As far as becoming just a broker, I think the market may be a little off for that right now.

Originally Posted by cab83_750

BTW, I hope that you or your parents did not spend $80,000.00+ for your education. I have friends who spent between 150K-$200K+ on their kids education, then BAMMMM! The kids said, "you know, I really wanted to do something else!" I am a parent with 2 kids (1 in college and 1 ready to go to college), and Oh Boy, this is what I do not want to encounter.

I went to FSU 10 years ago. I dont think they can hold it against me.

Originally Posted by LeRoux Strydom

Why don't you find job or set yourself up in the racing industry? What sort of engineer are you?

Civil Engineering. Very different. But I would love some more car related job ideas.

[Porsche-O-Phile]

The drive from the northeast to FL is about the worst anyone can do. I've done it many times back when I went to school in FL (family is all in New England) including many variations - with other people, by myself, with intermediate stops and straight-through. It always sucks regardless of how you do it. It's not fun, it's through some of the worst-congested cities in the U.S. with the rudest drivers, it's "shooting fish in a barrel" for revenue-generation/speed traps, etc.

Why on earth you'd want to do that for a living is completely beyond me. Not to mention the industry seems to be "consolidating" now into a few large players for transports. I'm sure a "little guy" can still make a living shuttling vehicles for dealerships and so-on, but as far as direct business for the public, I'd say that market is pretty much cornered now.

[onewhippedpuppy]

Terry, I'd say your business model is optimistic at best. You speak of hauling Ferraris and Lambos, but how will you get this niche business? There's not a large number of high-end cars being hauled (proportionally), and those that do probably tend to go with a respected, known quantity. If you just spend $150k on a used Ferrari, would you rather spend $1300 with DAS (known quantity and respected) or Terry's Car Hauling (who?). Even if you were half the price, you would struggle to get established. Even when established, I think you would struggle to find regular business.

I still don't think you've addressed it, but do you have any experience in a large truck? Any experience driving 2000 miles at a time, being away from home for large stretches of time? You mention that you're married, what impact would this have on your wife? I can understand just wanting to get out, I've been there, but I don't think this is the right path.

I think Moses has the best idea on here for a car-guy business. There's a company in Wichita that does the same thing, the owner is an enthusiast who hit it big in industry. Sold his company and opened a small, very nice showroom. He specializes in a variety of imports, last time I was in he had everything from a classic Jag to a mint BMW E34. If you do your homework before you buy, and market the cars well when you sell, there's a lot of money to be made buying and selling cool cars.

I've been through 9 cars in 6 years, and made money on all but one. The one in question was a '93 BMW 325i that started making noise in the transmission during my ownership. I still broke even. I buy cars with potential that are cheap, fix their problems, drive and enjoy for a while, then sell and make a few thousand. I enjoy it, and make a little side money doing so. This guy in Wichita also offers a locating service, which ties in nicely.

Or, door #2, look into industries that are related to CE. Just because your diploma says CE doesn't mean that's what you have to do. That degree is a lot of leverage, it's a shame not to use it.

[turbo6bar]

If you can find the right niche and exposure, you can make it work. There's a guy that hauls only tractors/ag equipment. His reputation is stellar and gets advertising via word of mouth. He runs loaded a large portion of the time, because his clients are less time sensitive. He claims he does really well, but he looks like a guy that's always on the road (rough cut, chubby). You don't stay buff sitting in a seat all day. I would say his rates are more profitable than a car haulers, because of his niche and reputation. Also, he has no competition.

Don't worry about your 'wasting' your eduction on something new. I went through 5 years to get a CE degree ($60k+) and went straight into the real estate field (investment properties). I even wanted to drop out of college my last year, but my parents talked me out of it. If anything good came of it, I spent 2 years doing co-op with an engineering firm. It took me about 1 year to realize I could never sit behind a desk for the rest of my life. I had to have a truck and freedom. It's easy to say that because I had options.

Nowadays, nobody cares that I have a degree. Few even know. Experience and confidence have gotten me further than that degree. Of course, the degree garnished me with some confidence immediately.

If you're dead set on this, spend the time and energy to get a biodiesel rig set up. You would need to make at least 200+ gallons a month, but it would cut your fuel costs substantially (like 1/3).

good luck, jurgen

[TerryBPP]

Originally Posted by onewhippedpuppy

Terry, I'd say your business model is optimistic at best. You speak of hauling Ferraris and Lambos, but how will you get this niche business? There's not a large number of high-end cars being hauled (proportionally), and those that do probably tend to go with a respected, known quantity. If you just spend $150k on a used Ferrari, would you rather spend $1300 with DAS (known quantity and respected) or Terry's Car Hauling (who?). Even if you were half the price, you would struggle to get established. Even when established, I think you would struggle to find regular business.

I still don't think you've addressed it, but do you have any experience in a large truck? Any experience driving 2000 miles at a time, being away from home for large stretches of time? You mention that you're married, what impact would this have on your wife? I can understand just wanting to get out, I've been there, but I don't think this is the right path.

I think Moses has the best idea on here for a car-guy business. There's a company in Wichita that does the same thing, the owner is an enthusiast who hit it big in industry. Sold his company and opened a small, very nice showroom. He specializes in a variety of imports, last time I was in he had everything from a classic Jag to a mint BMW E34. If you do your homework before you buy, and market the cars well when you sell, there's a lot of money to be made buying and selling cool cars.

I've been through 9 cars in 6 years, and made money on all but one. The one in question was a '93 BMW 325i that started making noise in the transmission during my ownership. I still broke even. I buy cars with potential that are cheap, fix their problems, drive and enjoy for a while, then sell and make a few thousand. I enjoy it, and make a little side money doing so. This guy in Wichita also offers a locating service, which ties in nicely.

Or, door #2, look into industries that are related to CE. Just because your diploma says CE doesn't mean that's what you have to do. That degree is a lot of leverage, it's a shame not to use it.

This is my question. I'm not sure if there is a market.

[berettafan]

Originally Posted by LeRoux Strydom

Profit only comes from having a large fleet where your fixed overhead costs are sufficiently diluted and you have the muscle to negotiate large transport contracts.


The last thing you want to do is to drive a truck yourself. It will suck up all your time leaving you with very little time for family/leisure or attending to your business otherwise.

Worth restating.


Terry- Try my exercise on I95 then divide by 10 if you only want to carry high end vehicles. Maybe divide by 20. Whatever % you think is realistic. THEN further divide by your share of the market.


Civil engineering and racing....how's about designing tracks, runoffs, safety features, etc.?

[Jims5543]

Originally Posted by berettafan

Civil engineering and racing....how's about designing tracks, runoffs, safety features, etc.?

Exactly what I was thinking. That would be a cool job.

Terry I am right with you, I so not love what I do but it makes me a good living so I do it. I have tried a couple of small upstarts that would get me into something fun but its really hard to do. Although I may have stumbled upon something that looks like it will take off. Once it does I'll start a thread.

Do what you love and never work a day in your life.


Maybe apply to companies that specialize in track remodels and new track layouts? I am not too sure how big of a market this is.


I want to try to get in with or start a company that maps tracks for gaming purposes. Imagining doing cross sections of tracks every 25 feet mapping every small detail right up to resurfaces, patches, etc... and selling it to gaming companies for them to use as the template for their game.

[Rikao4]

T
We train & place CDL holders..
DONT DO IT.
IT'S BRUTAL..
Rika

[TerryBPP]

Originally Posted by Jim Cesiro

Exactly what I was thinking. That would be a cool job.

Terry I am right with you, I so not love what I do but it makes me a good living so I do it. I have tried a couple of small upstarts that would get me into something fun but its really hard to do. Although I may have stumbled upon something that looks like it will take off. Once it does I'll start a thread.

Do what you love and never work a day in your life.


Maybe apply to companies that specialize in track remodels and new track layouts? I am not too sure how big of a market this is.


I want to try to get in with or start a company that maps tracks for gaming purposes. Imagining doing cross sections of tracks every 25 feet mapping every small detail right up to resurfaces, patches, etc... and selling it to gaming companies for them to use as the template for their game.

They don't build race tracks often enough to create business. ***** even golf course dont provide enough revenue.

[stomachmonkey]

Originally Posted by Jim Cesiro

......I want to try to get in with or start a company that maps tracks for gaming purposes. Imagining doing cross sections of tracks every 25 feet mapping every small detail right up to resurfaces, patches, etc... and selling it to gaming companies for them to use as the template for their game.

That library has already been built. And that is a very small market.

[911Rob]

Originally Posted by Jim Cesiro

.....snip.....
Do what you love and never work a day in your life.
.....snip......

Hey Jim,
Where did you get that quote?
Ha, I just read it in my "Motivated" mag received last week. Funny to see it on PPOT already.

Terry,
I've always been a believer in using life skills in a ladder pattern. Take what you already know and move it up a rung.
Market, Smarket, there is alot of money to be made and you are a smart guy with great people skills. Build a company that can create the income you want and then outsource all the things that you don't want to do yourself. I'm a realtor, but I don't list property, show it or deal with people daily. I'm a developer, but I don't deal with subtrades, suppliers or the day to day cash flow. I do the stuff that I like to do, nothing more.

Anything is possible if you put your mind to it.

Jumping off your current ladder onto another ladder wouldn't be my choice?

[Jims5543]

Originally Posted by stomachmonkey

That library has already been built. And that is a very small market.

I did not know that, so many small tracks are not in any of the games, and imagine if you mapped places like Tail of the Dragon?

Originally Posted by 911Rob

Hey Jim,
Where did you get that quote?
Ha, I just read it in my "Motivated" mag received last week. Funny to see it on PPOT already.

Rob,

Its on the back of the T-shirts of the wait staff at a little restaurant long the Nantahala River, I got a kick out and remembered it because it is so true.

[TerryBPP]

Originally Posted by 911Rob

Hey Jim,
Where did you get that quote?
Ha, I just read it in my "Motivated" mag received last week. Funny to see it on PPOT already.

Terry,
I've always been a believer in using life skills in a ladder pattern. Take what you already know and move it up a rung.
Market, Smarket, there is alot of money to be made and you are a smart guy with great people skills. Build a company that can create the income you want and then outsource all the things that you don't want to do yourself. I'm a realtor, but I don't list property, show it or deal with people daily. I'm a developer, but I don't deal with subtrades, suppliers or the day to day cash flow. I do the stuff that I like to do, nothing more.

Anything is possible if you put your mind to it.

Jumping off your current ladder onto another ladder wouldn't be my choice?

I appreciate the support. I'm still mulling it over. Development may be in my future.

[Zeke]

Originally Posted by Chocaholic

Sounds to me like you'd be working around trucks and truck drivers rather than cars and car people. And during a time of outrageous fuel costs. Why not consider a specialty dealership?

Great answer! I once was approached with the offer to install bus stops. These were nice ones with a roof and sides. Much of the purpose was, of course, advertising. The more surfaces, the more ads.

So, I get to thinking how this plays out. I have to get at the minimum, a flat bed truck, a trailer and a truck mounted crane. I could probably start out the day with 4 units and depending on where they were to be installed, get them anchored and set up. Many of them were destined as far away as San Francisco, so it would be a 3 day deal to install 4.

Then I realized I would be more in the trucking business than being a contractor, or plain installer. Just as you said, working around trucks, not construction.

I'd like to see where this thread goes because I'm just about all done with the home improvement game after 38 years. Now that I'm older than most all of my clients ( and a lot more knowledgeable about their home than they are, I still run into all kinds that don't' trust any contractor and feel the need to tell them how to do it.

And then not want to pay enough for a good job. It's not going to get better. And, the way I see it, people are getting less and less apprised about things in and around the home work.

Didn't mean to start my sob story here and hijack the thread. Carry on and I'll take notes. But, that was a good thought I quoted. Some jobs just surround and obscure a different job altogether.

[Moses]

My buddy who sells the lease returns made $125K his first year. Now he makes more than $500K annually, but I've noticed he spends a lot of time on the golf course.

[stomachmonkey]

Originally Posted by Jim Cesiro

I did not know that, so many small tracks are not in any of the games, and imagine if you mapped places like Tail of the Dragon?

No licensing revenue in the smaller tracks or public roads.

Not a good ROI.

[berettafan]

some professionals make their first step away from working for a living when they trade their svcs for equity in a project. is this a possibility for you (don't know if you work for someone else)?

i can think of a few fellow cpa's who are only in the biz to get access to money. can think of at least one land engineer doing the same.

[berettafan]

moses how did your buddy avoid being just another car lot?

[Moses]

Originally Posted by berettafan

moses how did your buddy avoid being just another car lot?

Exclusivity. He only handles high-end perfect condition lease returns. Perfect example; A fully loaded 2005 Mercedes AMG E55 was originally about $94K. At the end of a three year lease, the car is returned to the dealer. The buy back was $48K. The dealership doesn't want to deal with used product, so they sell my friend the car for $48K (sometimes less). He sells the car for $52K or so. How many car dealers can make $4k per car? Not many. And most of these cars are still under warranty.

There is a HUGE market for high-end lease return cars in affluent areas. HUGE. He sells loads of BMW's, Jags, Mercedes.