The answer is yes; it could be profitable depending on your services to the clients. There are people who have trucking services to load and unload heavy materials and even rocks and stones for home landscaping, gardening, and housing materials that cannot be carried with bare hands. The average net profit margin of a trucking company averages between 2.5 percent and 6 percent. You can have a decent living out of this kind of investment, however, you need to buy a big truck should you want to push through your plan to this investment with your eyes wide open.
Investing in a pay trucking loading services
- Thread starter Starmix
- Start date
Trucking is indeed a profitable business but in order to make more money you must have more units so that you can enter into a contract with big companies and you will have a steady flow of income and that if one unit is to be put on standby for repair and maintenance work you will have a back up.
It's big business without much complications. One does not have to maintain a merchandise inventory or invest in big purchases. As long as the vehicle is in good running condition and you have a steady loading contract business will run smoothly. About 2 years ago I paid 100k which is actually a discounted rate from 120.k for a wing van to transport some things from Parañaque to Jasaan. It was cheaper than loading in ship.
- Thread starter
- #5
Wow, that was so expensive for me, how much did you pay for the bill of lading, or was it part of the package deal of the van transports owner? How nice to have a trucking investment for pay. It is a great way to a passive income.
Trucking business is capital intensive . You need huge capital to start. A brand new truck is over 34 million naira while second hand trucks should cost around 17 million to 24 million naira. Apart from buying truck, you must also registered your business with the govt and have miscellaneous fund for unexpected expenditure.
That's inclusive of all including
The 100k was all in, including toll fees, entrance fee to the subdivision, charges for barges and all related expenses. It was easier for me to have that arrangements and came out cheaper than getting a 20 footer contain
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- #16
That is so an interesting business transaction, at least you experienced it in a real-life situation. Since you already retired, most probably, your retirement benefit in a lump sum was more or less 5 million pesos.
Im not sure if investing in a pay trucking loading service is worth it. It seems like a risky business that depends on many factors, like fuel prices, traffic conditions, driver availability and customer.
I am still working, By God's Grace In about 4 years. Am 61now and desires to maximize years before the mandatory age.
- Thread starter
- #19
Yes, but there is a law if it will be enacted, the employees will retire at age 56. It is better that way so wrong people can find ways to invest their retirement money to avoid getting lost.
If I have that hefty sum of money I will just add stocks to the store or maybe do some home renovation so. that we can have income from rental.
