What’s important when buying a fleet?

Nov. 3, 2014

Please help me.  What are the 3-5 most important things you would tell someone thinking about buying their way into the trucking business? Why in the world is the T3—Technology Transforming Transportation™ guru asking a question like this?

One of my activities is to be a business mentor for SCORE.  This morning, I am headed to a meeting with a new mentee that has an opportunity to purchase a small trucking company with 2 trucks.  I don’t know a lot more at this point.  I believe the company has been in business for a few years, has positive cash flow, and some assets in trucks and trailers.  The CSA and safety records are a question mark. 

I expect one or more of you have been in this position in the past.  This is the American dream—to own your own business, perhaps employ others, be your own boss and travel the country.  Some of you have been successful at this type of endeavor and others have found it wasn’t their cup of java (do truck drivers drink tea?).  Let’s start a conversation.  Perhaps some of the programs to help the veterans with loans, driving licenses and such can be extended with your help through this conversation.

About the Author

Paul Menig | CEO

Paul Menig is the leader of Tech-I-M LLC, a consulting company focused on helping companies succeed by leveraging technology in their products and processes. After successfully introducing many high tech products in the corporate worlds of General Electric, Eaton and Daimler, he is now focused on savvy technology creating powerful results in companies of all sizes.

Paul also provides free counseling to a wide range of businesses as part of the non-profit organization SCORE that is associated with the Small Business Administration (SBA). Paul is a graduate of the Massachusetts Institute of Technology (MIT) in electrical engineering and has participated in many training programs in quality, strategic planning, finance and technical areas.

Sponsored Recommendations

Reducing CSA Violations & Increasing Safety With Advanced Trailer Telematics

Keep the roads safer with advanced trailer telematics. In this whitepaper, see how you can gain insights that lead to increased safety and reduced roadside incidents—keeping drivers...

80% Fewer Towable Accidents - 10 Key Strategies

After installing grille guards on all of their Class 8 trucks, a major Midwest fleet reported they had reduced their number of towable accidents by 80% post installation – including...

Proactive Fleet Safety: A Guide to Improved Efficiency and Profitability

Each year, carriers lose around 32.6 billion vehicle hours as a result of weather-related congestion. Discover how to shift from reactive to proactive, improve efficiency, and...

Tackling the Tech Shortage: Lessons in Recruiting Talent and Reducing Turnover

Discover innovative strategies for recruiting and retaining tech talent in the trucking industry at our April 16th webinar, where experts will share insights on competitive pay...

Voice your opinion!

To join the conversation, and become an exclusive member of FleetOwner, create an account today!