Can someone help me out with some information on being a ltd company, I’m potentially looking too get a fleet of

[ashle_mo]

real estate is always good too be involved in but will a buy too let bring in 300/500k a year, I’d still have too work a job instead of being the owner of a company who could then also invest his capital into real estate aswell as a second investment

running trucks won't bring you that in. In most cases won't even bring you in any income once everything has been paid out. Just look at all the general haulage companies, very few last long before it falls apart. Out of the dozen or more I worked for over 8 years ago, only 1 still exists and that's because their main income is renting out industrial units. For many of them all it took was one customer to not pay their invoice forcing them into receivership.

fair point mate, it’s all something too consider

300/500k a year incoming yes but fleet of 5 trucks let's say your doing tipper work and can find the work that's 200L per day at around £1.50 p/l on keyfuels plus ya Vat so base on working 5 days a week that's 5000 litres a week and 20000 litres a 4 week month that's £34000 a month on fuel alone including ya Vat over a year your ready knocking on £400000k without paying anyone a wage yet. Or taking into account damage that will happen or insurance claims for any accidents. Got a mate who ran 8 wheeler and artics in Bardon Quarry and his franchise was pulled coz of his drivers not pulling there weight moral of the story is its the drivers who you employ who earn the coin. He now just runs a 6 wheeler curtain sider uses less fuel and profit margins slightly better but that's were networking and getting friendly with ppl helps buts he is still owed £800 for a job may not sound alot but that could be profit for a month that profit can also be wiped out by a blow out that destroys a tyre and lights so unless you have spares in a yard and can change yourself your looking at £500 for new tyre and call out you get my just right it's rare anyone gets rich and it's alot of stress for not alot of financial gain. Start off small run a single lorry yourself and build slowly slow and steady wins the race. Which ever sector of haulage you choose there will be someone who will do it cheaper coz everyone's out to earn a tenners profit

[lauClever]

Start with hire truck knocks down many expenses. And if job goes nuts your not loosing huge amount of money.

[DaraHarrah]

Only do it if you have a number of contracts with companies you have a long relationship with, you need to know they will keep you busy and are reliable, be very careful on the rates and that they can be changed according to diesel prices and job costs, any new company people will try and screw you over unless you have a very good relationship with them and cover yourself, it's easier to be self employed Ltd company and a relief driver taking runs with local hauliers and more money, I did that for 6 years with 4 hauliers and 3 agencies backed up behind me going into it they will try lots of things to see what they can get away with on you, be careful of unreasonable runs payment terms etc, once they know you are smart they will treat you better but initially everyone will try and take the piss unless the relationship is well established beforehand

[Castlege]

Put your money into property, safer and might even make a profit.

[rhobert-874]

Open a pet shop !!

[Jnru.Saren]

if i was you i would find a driving job that pays £1000.00 per week, your finances in 2 to 3 years time will possibly be far more healthy

[Ruanell]

Best advice is to do the TM Cpc and second is Avoid Iveco and don’t be tempted to them because of the price, having been in an operation with 30 of them they are complete nightmare.

[simon.carch]

The industry is flooded with hauliers.

[mmotoon]

Best advice is to do the TM Cpc and second is Avoid Iveco and don’t be tempted to them because of the price, having been in an operation with 30 of them they are complete nightmare.

it’s not the truck you pick it’s the dealer and back up you need that’s more important than the truck

[mahoMarc]

Open a wool shop every granny in the uk is knitting jumpers for the kids of haulage bosses going skint

[mcIdol]

I am an owner driver with a small fleet of 3 trucks and 3 vans. Things are tough at the moment, but there is still an income to be made if you are able to find the right well paying work. I would start off by doing your transport manager CPC. This will teach you a lot about the industry and save you the cost of employing an external one. I have always had new trucks on fully maintained contract hire. That way you get a fixed cost every month without any expensive surprises (one of our trucks recently has an electrical fault which would have cost over £6k to repair if we had to pay ourselves).
Rough figures per truck as follows:
Fully maintained contract hire = £1500/month
Fuel = Just over 50p per mile at current prices. This was over 70p per mile earlier in the year.
Insurance = £6000/year. Yours may be higher without any NCB.
Parking = £350/month plus overnight parking away from base
Road tax = £850/year
Tyres = 2p/mile
Driver wages = £50,000/year including employer NI and pension contributions plus £25/night out.
Cost for company:
O licence = £254 application plus £499 every 5 years
GIT Insurance = £16,000/year. Our works is quote specialist and high value. Yours may well be less.
Public and employers liability = £2000/year.
Accountant fees = £2000/year
If you are running your own trailers you will need to cost for them as well.
I wish you the best of luck. Feel free to ask any questions.