***Dave's Rookie CEO Log***

[Dave P]

I kept putting people off by saying I'm waiting for 20,000 posts to make a new thread so I guess I can't keep doing it.

For those unaware this is the original thread:
http://forum.bodybuilding.com/showth...hp?t=118043041

I'm now pushing up onto the 2 year mark so I upgraded my status from Amateur to Rookie.


Just a quick where I was then vs. Where I am now.


Then:
2 Trucks
1 Employee
2 Routes
Drove One myself
Revenues were something like 200k per year.


Now:
10 Trucks
9 Employees
7 Routes
1 New Business (Repair Shop)
Rarely Driving
Revenues will probably be just short of 1million mark (thinking 900kish)




Pics of the inside so you know I'm not fraudin.

These are the Revenues to date for the month of December:



I recommendatory you look through the first thread to get a feel for it and get an idea of it before asking questions.


I'm going to try to do a better job of keeping this thread updated.


Feel free to begin any business discussion here.

[dknob]

1st page

[feardafronfz3]

2nd

[mikeyBarracuda]

3rd


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EDIT:

You say revenues will be 900k but what do you expect your NI to be?

[Beast92]

balling, how much of that 1 million is actually profit, before and after taxes

[irollurmom]

Age: 26

GJDM. So how expansive are your routes? Are they within your hometown, or are they in some neighboring towns as well?

[cjayzz]

4th, looks interesting brah and looks like your doing a good job.

[silvialover]

Subbed

[Nub_Lurker]

OP rly CEOin makin 10k a day

[tenaciousj]

Kind of personal but what kind of money are you taking in after all of the overhead (drivers, maintenance, etc.)

Say if you were to make 900k a year is that what you would bank or is that what you bring in without other expenses taken out?

[TakeYourMulti]

no one gives a ****

[WiggyWanka]

Net income?

[Dave P]

You say revenues will be 900k but what do you expect your NI to be?

I expect to hit about $250k after taxes.


Originally I was saying $300k but I've made mistakes here and there.


Unfortunately when I make a mistake its not "Oops that sucked"...its "Damn...that just cost 5k"


Stuff piles up and I'm still learning.

balling, how much of that 1 million is actually profit, before and after taxes

Its hard to say since I haven't made it through a full tax season with all this revenue yet but like I said I'm estimating $250k.

Age: 26

GJDM. So how expansive are your routes? Are they within your hometown, or are they in some neighboring towns as well?

Each one is a zipcode basically. They are in neighboring towns.


I turn 27 next week getting old man.











I wish I was perfect but I've made alot of mistakes and each time I mess up its just a hit to the income of the business.

[UniversityMisc]

in to support a bro

$$ looking good mane

[MtnJax]

Can I get a job?

[Dave P]

Can I get a job?

One day I will be hiring non-driving personnel for sure.


I have 3 or 4 business idea's that I want to get into....I have to sit patiently and wait to save money to do anything though unfortunately.



I'm turning 27 and I'm starting to feel like I'm running out of time....meanwhile all my friends and family are like "calm down dude you're young and you have tons of time...just be patient"

[NoA]

Read the whole first thread,

who does your taxes?
are your loans paid off yet?
do you invest in stocks(tsx,dow,nd)?
if so, what stocks?
are you still going to school?
if so, what degree did you get or are going to get?
how much do you pay your employees?
and what kind of benefits do they get?

[bezarker]

right on man, keep up the good work...

[TheTherapist]

if I pm you my question while you respond plus I have two business idea's I need some opinions on. I'm 21 with zero experience, which is why i need opinions. srs

[Jem777]

Subbed, will read when I get back lulz.

[micheal0484]

How did you find out about the opportunity to do this? Do they have list of available routes? Great Job btw

[irollurmom]

I expect to hit about $250k after taxes.


Originally I was saying $300k but I've made mistakes here and there.


Unfortunately when I make a mistake its not "Oops that sucked"...its "Damn...that just cost 5k"


Stuff piles up and I'm still learning.



Its hard to say since I haven't made it through a full tax season with all this revenue yet but like I said I'm estimating $250k.




Each one is a zipcode basically. They are in neighboring towns.


I turn 27 next week getting old man.











I wish I was perfect but I've made alot of mistakes and each time I mess up its just a hit to the income of the business.

You're still making more money than most college grads at your age. Not to mention you're your own boss (for the most part).

[TorontoBrah]

Must feel good man.

1rd page.

[Dave P]

Read the whole first thread,

who does your taxes?

I'm fortunate enough to have a father who has recently retired and was a PHD in statistics, needs a hobby, and has no problems with numbers and spreadsheets.

He does alot of my record keeping for tax purposes. Then we have our CPA file them in April.

After a year or two I'll probably start doing them myself.

are your loans paid off yet?

My loans are nowhere near being paid off unfortunately. I'm still about $550k in the hole.

People often think I'm balling but don't realize that I probably live off of like $200 a week (minues random splurges like going out or taking a trip) and the rest I put towards the debt.

do you invest in stocks(tsx,dow,nd)?
if so, what stocks?

I used to but all my money goes into building business now. I find it more rewarding and the returns are better.

I dumped the last of my Citigroup stock like 6 months ago...picked it up at $2 and sold at $4.10

are you still going to school?
if so, what degree did you get or are going to get?

I have dropped out.

I was getting my MBA at a top-10 part-time University but as my business grew I didn't see the need for it. I was genuinely running a business while a bunch of douchey kids acted like they could school me on business.

how much do you pay your employees?
and what kind of benefits do they get?

My guys make anywhere from $39,000 - $50,000 a year depending on the particular job.

I don't do benefits...can't afford that sh!t.

if I pm you my question while you respond plus I have two business idea's I need some opinions on. I'm 21 with zero experience, which is why i need opinions. srs

Im usually pretty good about returing PM's. I genuinely love this stuff so feel free to send me whatever.

[shag]

how long till you're able to step back and just do a little managin/enjoy the funds??

[alphaMatt]

Good **** bro, you've always been an inspiration to us young misc CEO's...keep doin what you're doing and don't forget to update us!

[datboigene]

Can you be my mentor? Srs

[iamtough]

love you for making this thread, saving money myself and plan to open some business, no idea yet though.

[the700level]

ceo'in at 23k reps

[Dave P]

How did you find out about the opportunity to do this? Do they have list of available routes? Great Job btw

I had been unemployed for about a year and was sitting at a dinner table with my dad and one of his friends. His friend mentioned in passing a friend of his that had gotten into this FedEx thing and was making <Insert ridiculous claim here>.

I called BS...asked for the dudes number and in a couple days I called him up. Asked some basic questions about how he got into it. Apparently he found routes on Craigslist.

I started doing searches...lo and behold a guy was selling 2 routes 50 miles away from me. Not really my cup of tea but I jumped on the opportunity to learn more.

After 2 months of question/answer sessions and whatnot I found routes in my area for a decent price and jumped in.

The routes are bought/sold between the contractors and FedEx has nothing to do with it other than moving the rights over from one person to another.

Honestly if you walked into any terminal in America there is always someone willing to sell his routes.

how long till you're able to step back and just do a little managin/enjoy the funds??

I'm pretty much there now.

There are days where I don't do sh!t...things pretty much run themselves. The only part is that I don't enjoy the funds yet...probably 2-3 years until the money goes straight into my personal account.


Working out was impossible when I first started but I'm finally in a place where I can lift every day again and have been back in the gym for alittle over a month after a year long hiatus.