Hi I'm 18 and got my license a year and a half ago. My brother is trying to convince me of investing some money I inherited in a trucking business. I know nothing about the business, but my bro is a truck driver for a multi-million dollar company and is trying to help me get started in the business. He wants me to buy the truck/insurance/and worker's comp. insurance and pay him 25 an hour. I have to manage the whole finances part:fueling,wages,insurance,and the taxes and fees.I am in need of advice from experienced people out there!Thanks lots!
2006-12-16 22:33:32 · 3 answers · asked by Anonymous in Business & Finance ➔ Small Business
It really depends on what state you're talking about. Each one has different laws. Check out the whole thing. Don't be in a big rush. Protect yourself. I'm not saying that there's something wrong with brother's plans, I'm just saying be careful.
2006-12-16 22:44:18 · answer #1 · answered by vickeymcgee 4 · 0⤊ 0⤋
Well let me tell you the trucking business is a cut throat business where only the strong survive today and that means those with the most money.And from what your brother wants you to pay him per hour well I would pay him by the mile.I would hang on to my money because you are young and if you want to get started in a business do something that interests you and you know something about.Its your money.
2006-12-16 22:51:11 · answer #2 · answered by sparky75us 3 · 0⤊ 0⤋
Just to throw this out there, wouldn't it be nice to pick up the phone and call a lawyer to ask all of these questions to?
2006-12-17 05:46:59 · answer #3 · answered by gatorgirl 5 · 0⤊ 0⤋