Should I take on grandparents' trucking business

>They have always discouraged us (grandchildren) from taking on the business because they say something bad is always happening, referring to wrecks, drivers dying on the job, lawsuits, etc. However it has made them very wealthy, moreso than I would ever be working for someone else with a four year degree.

If they don't want you in it they don't want you in it for some reason. Either because they think you can do better, or you're not cut out for it. They could also just have other plans for it (re: selling it to a larger company, or someone else) or they could have another successor lined up.

Ask them directly, you'll get a far better answer then what anyone here can give you.

>>1044651
truck drivers will be the first to be automated. well maybe taxi drivers first. but within 10 years.

>>1044651
I know people in the industry. It's a good industry. You'll make a lot of money, more than most. You'll be rich, but sadly, it's a career that will only go so far. You won't attain huge levels of success like becoming a billionaire. My suggestion would be to sell the company, learn some skills and use that to start up something much bigger. Something you can turn into a few 100 million.

My uncle owns a place that works on those trucks. They are expensive. Just changing tires and oil is a pain! Pro tip: always lease your trucks, never buy them.

>>1044660
OP could be at the forefront of this and reduce costs/undercut the competition.

OP here. Thanks for the responses. I know it's a slow board so I'm just going to let the thread go and check back tomorrow.

>>1044716
Those are my thoughts as well in regards to that

Your Problem OP as I see it. Is relatively low barrier to entry. A few guys save a few grand, get loans to buy a few trucks. Best marketer amongst figures out division of labor and markets the shit, and the guys give him a cut for jobs they bring in. He expands, and viola, his income goes from some trucking some commissions to 100% logistics management.

Its also a very hands on business and very difficult to automate.
People say automation will happen, and it can. but I'm extremely skeptical. difficult terrain and weather shut it down easily.
You should be worried when automation happens in auto racing. that is the beginning of the death knell.

In the meantime I see a logistics boom coming on with the online world. Logistics management will be a high demand service.

I see the future it is closer than ever but further than it appears. It will be a huge boon for the midwest.

But basically, look at trains right now. automation will make it look a great deal like that system.

>>1044660

Quit being retarded, automation won't happen because of liability issues. Why do you think airlines, sealines, and railroads all still use human operators? Because when crashes happen, it's easier to blame the driver then the manufacturer.

>>1044716

California issues CDLs to illegals now via AB60. Meanwhile, Fedex is getting away by classifying everyone as Independent Contractors. Trucking has never had lower labor costs.

>>1044779
>https://www.google.com/?gws_rd=ssl#q=self-driving+trucks
They're gonna happen whether we like it or not. It's just a question of when.

Also, planes can take off and land themselves nowadays. Humans are just around to intervene if something goes wrong, and sometimes that intervention makes the problems worse.

>https://en.wikipedia.org/wiki/Air_France_Flight_447#Findings_from_the_flight_data_recorder

I would suggest working for your grandparents, like RIGHT NOW, so you can learn the trade and see if you even want to pursue it.

Better now so they can teach before they retire.

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>>1044651
youll be in way over your head. Once automation happens your grandparents business won't be able to make a profit, it's a dead end

>>1044779
Where I live they automated almost the entire harbor and I have no doubt they could just automatically send the cargo abroad.

If I were you, I would look into how to specialize it right now. Long distance, refrigerated goods, etc. With the market being saturated with wannabe entrepreneurs, you gotta find a niche and build a rep for it.

Unless of course the company is already doing fantastically, in which case, capitalize on that.

We already have a fleet of automated trucks hauling up to 5 trailers of ore. This is loaded to a train that is also partly automated and soon to be completely. It's happening right now.

>>1044837
Yep this. But actually work. Not "go sit in their office" Find a old mechanic that can fix everything. Watch and learn. Find a safe driver with a good reputation. Ride with him. Get a cdl. If you are gonna succeed you need to understand the business bottom to top. Learn from older people and their mistakes.

>>1044844
firstly, automation argument is nonsense at the moment.
secondly, if automation was to become a reality in your lifetime (doubtful) you could automate this business in the future, you're already in the market...

>>1044847
Good advice
>>1044660
Real shit

>>1044660
Yeah genius. And to you think an "automated" company of fucking trucks is going to also "automate" the management and CEO?

So because the trucks may be automated in 10 years which is a maybe given that many laws have to change and technology needs to be created... then do you think these companies will run themselves?

Who do you think will run them?

>>1044992
Well that's what I was thinking of doing. Yesterday they were talking to me about going under training of the man who takes over whenever they go on vacation. He's the most versatile employee they have.

As for automation, I'm not looking at becoming a driver. Sounds like a welcome innovation to me. Less labor costs, more efficient drivers that never have to sleep and don't suck on meth toothpicks or do a double suicide on the road. Would have to work out a way to put chains on the tires and refuel.

What would happen first actually is automating the fork lifts for loading/unloading the trailers. I know a plant near me that uses automated fork lifts but they always carry the same exact thing on the same exact path, in our warehouse we have a huge variety of freight.

>>1044651
You currently in school or what?

They have around 70 tucks and 100 employees. I'm not sure how much it currently brings in, only that this was the best year ever thanks to button belts, which according to my grandpa saved them an additional $1.6M in 2015.

They have always discouraged us (grandchildren) from taking on the business because they say something bad is always happening, referring to tuckings slipping out, tuckers dying on the job, lawsuits, etc. However it has made them very wealthy, moreso than I would ever be working for someone else with a four year degree.

None of the other grandkids want anything to do with it and already have their own ambitions. I'm 20 and not sure what to do right now. I'd like /biz/'s take on it. If there's room for expansion in the tucking industry so that I can build off their success, or if the business is doomed and I should stay far away.

>>1045275
Yes, but there's a ceiling to what you can do with most degrees, my grandparents have a seven figure income, I'll never achieve that with my major.

>lawsuits
>people dying
>truck repairs

All casualties of war

If you prepare documents the right way, you protect yourself from lawsuits completely

I'd say it's definitely worth it to continue the business, and if you have to, you can always liquidate a few trucks, or the entire company, and cash the fuck out

>>1044660

>He believes the self-driving meme