Getting started. (long)

[oldtanker]

One of my son in laws currently drives over the road. My #3 daughter is currently going to school and should be in the job market about this time next year. The deal is when she is done with school he is (has to) come off the road. Now don't get me wrong but he was raised in a screwed up family. To the point that he has told them he has no need of them because he has a new family (us).

He has a confidence problem big time (family see above). He also isn't comfortable with being a house husband and wants to provide for his wife and daughter. Now he's worried about a career change. He claims that the only thing he's been successful at in his life is driving truck. He would be ok driving truck for a construction outfit but would be gone a lot in the summer. My daughter isn't ok with that. There are no decent paying short haul outfits in the area and they don't want to move. He is looking at going back to school for AG mechanics as one option.

Now I've got an older JCB TBL a couple of weeks ago. I've told him that he can use it to start a business. He would have to get a trailer and truck. He is also looking at a trade school course for equipment operations. Central Lakes College . . Because of the confidence issue he's not sure about it.

So I'm looking for advice on how to help him out both in making the decision and getting started. We are looking at about 3 years before he would be done with school and ready to go.

Thanks

Rick

 

[Silveroddo]

If it were me, I'd say look at a diesel tech program. Not sure where your at in MN but I'm in North Central and have been watching the job boards for quite awhile and the reoccuring one i see is Diesel Truck Mechanic. I'm not in an Ag area so I don't know what else is out there for that field.
As far as starting a business with a TLB I don't know that I'd wish that on anyone right now. 10 years ago theres alot of guys that did and they got on the housing wave and rode it out, now they're established experienced contractors with some equipment and quite a few with payments to make, so its really competetive and hard to make any money at at the moment, just not enough volume. It could be something a person could do part time on the weekends and see if you can grow it from there, but I wouldn't put all of my eggs in that basket.
Just my .02

 

[Dwan Hall]

1. Most business fail do to mismanagement not because they don't have work.
2. Buying equipment then looking for work is back wards.
3. Make sure the work is there before beginning the business,
4. Structure your work so your business makes at least 30% profit, otherwise you should work for someone else and let them have the headaches. (that is 33% overhead, 33% wages, 33% profit.) (send me the remaining 1%. LOL)
There are a lot more people out there that can run equipment then can run a business so a good class in small business management would be nice before he quits his now job.

 

[oldtanker]

1. Most business fail do to mismanagement not because they don't have work.
2. Buying equipment then looking for work is back wards.
3. Make sure the work is there before beginning the business,
4. Structure your work so your business makes at least 30% profit, otherwise you should work for someone else and let them have the headaches. (that is 33% overhead, 33% wages, 33% profit.) (send me the remaining 1%. LOL)
There are a lot more people out there that can run equipment then can run a business so a good class in small business management would be nice before he quits his now job.

He will have help with the management part, he's young but he can learn. And getting started with the cost of a truck and trailer shouldn't be too hard. Heck sense I got the JCB I've had several area farmers wanting to know if I can dig rocks out of fields for em. My nephew who has his own concrete business has also ask if I'm available to do dirt work for foundations and dig in water lines for auto livestock waterers. Now I'm retired and just goofing around here on the farm but I'm thinking about doing a little side work just cause I like operating it. Who knows maybe I can earn a small old D4!


Rick

 

[grandpa]

1. Most business fail do to mismanagement not because they don't have work.
2. Buying equipment then looking for work is back wards.
3. Make sure the work is there before beginning the business,
4. Structure your work so your business makes at least 30% profit, otherwise you should work for someone else and let them have the headaches. (that is 33% overhead, 33% wages, 33% profit.) (send me the remaining 1%. LOL)
There are a lot more people out there that can run equipment then can run a business so a good class in small business management would be nice before he quits his now job.

Dwan, you wanna help me structure my business to get 30 percent net, Im all ears.....

 

[oldtanker]

If it were me, I'd say look at a diesel tech program. Not sure where your at in MN but I'm in North Central and have been watching the job boards for quite awhile and the reoccuring one i see is Diesel Truck Mechanic. I'm not in an Ag area so I don't know what else is out there for that field.
As far as starting a business with a TLB I don't know that I'd wish that on anyone right now. 10 years ago theres alot of guys that did and they got on the housing wave and rode it out, now they're established experienced contractors with some equipment and quite a few with payments to make, so its really competetive and hard to make any money at at the moment, just not enough volume. It could be something a person could do part time on the weekends and see if you can grow it from there, but I wouldn't put all of my eggs in that basket.
Just my .02

I'm near Battle Lake. Several local guys are planning to retire here in the next couple of years. Plus they have been going through the area and making lake shore owners upgrade thier ceptic systems. Guys in this area are willing to pay 50-60 an hour for an old hoe to come and just pull rocks out of fields. They will take care of moving them off. They just want em laying on the ground so that they can get a cahin on them. I'm doing one next week if the weather holds. About 15 big rocks on 5 acres, I think they get more rocks per acre than yields....LOL. I know a guy with an old trackhoe (don't know the model) who charges 85 an hour to get rocks out.

Rick

 

[sandnsnow]

Sounds like a nitch. It would me good training. I start operators out pulling stumps and raking boulders out of the gravel pit. Is the JCB road worthy that he could just road the thing around until he finds out if that is what he wants to do. That would also provide him with enough time to decide if he could make enough money at it to provide for his family. Nice to see you helping him out. My dad told me if I dident want to work for him, then I was on my own. Now he works for me.

 

[NEConstruction]

33% profit? Maybe in Alaska but try making that in the Northeast and you will have 33% profit on $0.00 in revenue.