Wanting to start a Business but wondering if it will work. Could use some practical advice.
I’m 19 and located in VA which is most of my problem. I already have a truck (2500 Diesel) and trailer (18-22ft Lamar Car Hauler) so there’s a lot of the startup expenses gone since I drive race cars sometimes. I can make all of the other startup expenses work but the insurance is the doomsday number. I did the usual 1M policy and the 1M +1M aggregate and it came out to $63,000 a year with progressive. My age seems to be the bit that sends it through the roof since I guess since I’m 19 every insurance company thinks I’m going to cause a civilization ending event on the interstate.
My main question is can I make this work?
Other information for context:
The truck and trailer are both paid for and less than 5 years old.
When hauling my race car which weighs 2800lbs I’m getting 16mpg ish. Maybe more if I was on an interstate.
I don’t mind being gone long periods of time as long as I can have about 4ish days off a month to accommodate my racing schedule. Id like to do mainly car hauling but I’m open to other loads. I’m located 15 minutes away from a copart yard, idk what they pay but that would eliminate a lot of deadhead.
Open to any and all thoughts and advice. I’d rather not financially ruin myself 2 months out of college.