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Re: Starting a Grain Hauling business


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Posted by newfarmer9 on November 11, 2016 at 07:12:25 from (96.44.44.2):

In Reply to: Starting a Grain Hauling business posted by Hogleg on November 10, 2016 at 05:20:48:

If driving truck for someone else isn't paying, how is running your own truck going to pay when you have the cost of maintenance, insurance, licensing, etc.? Maybe the company can't afford to pay the boyfriend more because the margins just aren't there? He better be prepared to value his time spent working for his own business at close to $0.

Also, as a younger guy (26) who has seen similar situations before with many of my friends, I would strongly caution your daughter against financially supporting a boyfriend, especially in a business situation. At age 20/21 there are still a lot of life lessons to be learned and not to sound negative but the relationship could very well go south, which could ruin your daughter's finances and credit if she is floating the boyfriend's business. Could negatively impact you as well if you are involved with co-signing loans etc. I have a business degree and run my own business and one lesson I learned early on was NEVER do business with family/significant others.


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