|
A.
Dear Scottie,
Most entrepreneurs and businessmen usually start a business mainly because they
know how to go about it. It will be very difficult to venture into something which
you don't have any particular knowledge or know how. But, of course, it is not
impossible either.
Since it is your son's idea and possibly his "passion", I suggest
that you talk to him and gather as much information about how much he knows
about the business. It would be best if you can sit down with him and write a
business plan together. This way, you can ask him the right questions and he
has to give you the right answers.
Our Power Homebiz e-book "Power Home Business Ideas" which
you can buy from our website contains a section on how to write a business plan together with an outline on
how to go about it. However, if you think that a small investment like this
one is too much, you can click here http://www.ntia.doc.gov/opadhome/mtdpweb/busplano.htm
for a simple but accurate way of writing the business plan.
The business plan will serve as your guide or road map for the business.
You will have the opportunity to really visualize how you will start the
business, how will you manage it and how will you make it operate. It is
actually your blueprint for your business.
For the State and local business permits of this kind of business, you can
log in at the web site of North Carolina http://www.ncgov.com
or directly
inquire from your City Hall Business Division. They will be more than willing
to help you.
For classes, you may check from your local DMV office about the
requirements for Dump Truck drivers and Dump Truck Operations. They should
also have information on where you can enroll for classes.
On the whole project by itself, ask your son about these:
How many trucks do you plan to have? How will you finance the trucks? How
will you amortize the lease or purchase of the trucks? How will you maintain
the trucks? Will you hire your own mechanics or have it outsourced? How big is
the market that you are looking at? How will you get customers? Will you buy
the trucks and have it contracted by other companies? Will you hire your own
truck drivers? Your insurance coverage for the trucks and drivers. If the
trucks needed an emergency maintenance or repairs, will you not have problems
with your amortization? (And many, many more probability questions)
Dump Trucks are very expensive and an investment in this kind of project
should be given a thorough investigation and study. A mistake could spell your
financial disaster.
It is best that you really start with the Business Plan to make sure that
this is a business you must go into.
Good luck and I hope this helps.
About
the PowerHomeBiz.com Guide:
 Nach Maravilla is
the Publisher of Power Homebiz Guides. He has over thirty years
experience in sales and marketing of various products, which
covered as he jokingly describes, "from toothpicks to
airplanes" He also had extensive experience in
International trading and he always excelled in special promotional
ideas for retail outlets.
The opinions expressed in this column are
those of the author, not of PowerHomeBiz.com.
Users
should not treat the Guide's response as legal, accounting, or
professional advice as all answers are intended to be general in
nature. Such advice can only be properly given by qualified
professionals who are fully aware of a user's specific geographical areas or circumstances, such
as
an attorney or accountant.
| 
