Check out the newer version of this video with updated information! https://www.youtube.com/watch?v=w1GBFIzsDZ0 Getting the almighty dump truck will raise productivity and profitability. Getting the money for your first dump truck can be tough, though. In this video, Lee covers some strategies you can use to save up the money you'll need to purchase a truck. If you're trying to figure out how to get the money for your first dump truck or junk removal vehicle, this is the video for you! Check us out at https://www.junkra.com Subscribe to this channel for all the best junk removal industry info Like and follow us on Facebook at Junk Removal Authority
Good afternoon guys. I hope you all are doing great today. Everybody’s doing wonderful. We’ve been talking a lot about you need to get a dump truck. I’ve said that you need to get a dump truck. You need to focus on junk removal and all that kind of stuff. What I want to talk to you today about is how do you get that dump truck. Some of the points brought up against getting a dump truck.
One, you’re buying a vehicle that you’re not going to go to the movie theater with. You’re not going to take your kids to school and all like that. I’ll debate that. If I had kids and I took that, my wife and I went on a date. We went to a steakhouse in that first dump truck. We didn’t care. We were advertising. I got that dump truck anywhere I needed to if that was the only method of transportation I had. It allowed me to be a lot more productive and bring in a lot more money. I would drive it everywhere. I didn’t care if it was a pickup truck, dump truck or what. I would use whatever will make me money. I have been fine driving in any sort of event. I will go to a five-star restaurant in that thing if I needed to. I’ve been all dressed up in a Tux and suit or whatever. Pull right up in my dump truck and just be advertising with a lot of wealthy clientele while I go enjoy a good meal. I know a lot of you use good dump truck. You’re going to be $25,000 now. There’s no doubt about it. $25,000 you’re going to be. Those of you that are in the financial position where you already have the money or you’ve got the income go coming in as well to go out and find it’s a truck. Go ahead and purchase cash for a truck and get one. Go and do it. You can eliminate a lot of what I’m about to tell you. Those of you that can afford a dump truck from the start, go and get it. You’re not going to regret it. It’s going to be a great decision all the way around. If you need the points on why a dump truck is better than a trailer. A pickup truck and trailer combination, you can watch a couple of my previous videos.
First thing, depending on your situation. If you were working somewhere now, and I’ve said this a bunch. If you’re already working somewhere with a decent income. Making 15 to 20 bucks an hour and making $30,000, $40,000, $50,000 or $70,000 a year. Keep working that job especially if it’s a flexible part-time job where you can also start your junk removal business. Keep hammering away at that job even if you hate the thing. It doesn’t matter. If you hate that job. If you absolutely despise that job, but it’s paying you good money and it’s going to allow you to sock away some cash to get your junk removal business started right. Then keep working that thing. What you’ll find since you have an end date. You can set an end date that I’m going to be done by this date. I’m going to have it. If you can set an end date then you’ll probably enjoy your job a lot more. Whereas, if you don’t have an end date it looks like it’s going to be an eternity or whatever. You don’t know what the next step and that can be demoralizing. If you get in that situation, don’t leave your current job. Save money for the truck in that current job. Work your junk removal business on after hours and during weekends. Hire some people to do some of the jobs during the day and that sort of deal.
If you’re already in business, you need to know your numbers. You need to be sure that you’re profitable already. This is one of the things a lot of people skip. They don’t get into sophisticated accounting system set up. They don’t get the sophisticated accounting system set up. They truly don’t know how much money they’re making. Most people taking cash or they figured out there’s cash in their pocket. They must be profitable, but you don’t know exactly how much. You want to know exactly how much money you’re making, so you can plan. So, you can again have a date in mind. If you see that your profit is in $3,000 a month, you’ll know that in order to get a down payment on the truck work $10,000 you’re going to need about four months of operation. To have the money at that point, to go out and buy that dump truck. If you’re already open and you’re busy. If you’re profiting $3,000 a month, go and finance that thing. Finance the truck. If you have a business and you have the numbers that show that you are definitely profitable, don’t be afraid to finance.
There’s too many people that are afraid of debt. Debt is a great thing, despite what Dave Ramsey tells you to go and build a business that you have to take out debt. Dave would say, “Well, just keep working away and save up the money and go buy it in cash.” The problem with that is momentum and speed in business are huge. You’re losing momentum when you do that route and you’re losing speed. One of the key things for business success is you must stay motivated and time will wear on your motivation. Yes, you have to be patient a lot of times. If you can go out and you have a business that’s proven that it’s going to be profitable. So, if you’ve been in business for 6 months, a year or even three months, and if you’ve had three really solid months go out and get debt. Go out and finance a vehicle. You got to be smart with it. Don’t go out and buy a new $65,000 vehicle which is going to be a $950 a month payment if you’re not going to have the income to pay that. If you haven’t been through a slow season. If you haven’t been through winter, then I would be very careful going out and getting a big debt payment. If you’re going out and you’re getting $25,000 dump trunk. You’re going to put $10,000 down payment. You only finance the $15,000. Your payment ain’t going to be, but like $300 a month. You’re going to be able to make that payment. Don’t be afraid of debt. Get out there and get that dump truck. It’s going to make you a lot more productive.
I’m recording this when I’m driving because my other parts of my day I’m always moving. I figured when I’m driving, I’m not being productive. So, I try to do these videos when I’m driving. Sometimes, makes video quality a little bit less. If you are not open, everything I said about debt. If you are not open, you haven’t been profitable yet. You haven’t proven that you know what it takes to run a junk removal business. Do not make payments on the vehicle. Go out and pay cash for vehicle unless you have significant savings. Already built up, you just don’t want to use that cash or you have other significant income that will be able to meet that obligation even if your junk removal business taint. You still got to make the payment until you can get that vehicle sold. There’s only two conditions you should take out debt on a new business. If you don’t have income. If you don’t have savings. If you have a few thousand dollars, you’re going to have to go out and you got to get a pickup truck and trailer. Then you got to work the business profitably. You need to live on beans and rice. Rice and beans, very frugally. You just need to be saving all that extra money you’re making. It needs to be going in an account that is marked for that dump truck. When you got the funds for that dump truck, you go out and buy it. It’s going to allow you to be more productive and make even more money once you get that dump truck. It’s going to allow and make hiring a lot easier because people are going to be able to drive it a lot better. I always advocate this too. This is a kind of a weird one. Go out and get a part-time job. It’s flexible. Deliver pizza, drive for Uber or Lyft. I always say if you can get a flexible part-time job when you’re first starting when your off nights, go ahead and do it. Take that money and invest in your business or live off that money. Take the profits from the junk removal company and invest in your business.
One thing I will say is you need to always be looking on Craigslist. I’ll be completely honest with you, I don’t do a lot of check. We have some other avenues for used trucks, but the way you need to be finding them is going to be off Craigslist. You can use it either SearchTempest, I think SearchTempest is the best. Craiglook used to be good, but it’s not very effective anymore. There’s a new site too. You all probably know better idea on what site that it will search all the different cities of Craigslist instead of just your current city. Commercial Truck Trader and TruckPaper, we’ve bought some trucks off of both of those. We bought maybe one-off Craigslist and probably five of commercial truck trader. Then we found another avenue to get our other trucks.
You need to be always be looking and that way you can understand price even come across good deal. Then maybe you already have the cash to make a move on it. Craigslist is probably going to be where the deals are going to be found. More so than the Commercial Truck Trader and TruckPaper. Just make getting a dump truck an obsession, making an absolute obsession. Whatever you’re obsessed over, for the most part you’re going to get. So, just make it an absolute obsession for you to get the dump truck. Run the numbers and know how many jobs you have to do to get that dump truck.
Really live frugally. Do everything you can to get to that dump truck and that way your productivity is going to go up. You’re going to hire more people. You’re going to make more money. Under no circumstances, do not reduce your advertising expense. If you’re going to tighten up on your expenses, never reduce your advertising expense for advertising that is proven and working. Now, if you’re doing advertising. If you’re doing TV advertising, some print advertising and it’s not profitable at that very moment, maybe it’s good long-term, but it’s not breaking even. I would drop it. Your obsession at that point is getting that dump truck so that the advertising you need to be doing is AdWords and social media. You put out some flyers when you’re slow. By far and away AdWords, social media and Craigslist, do it consistent a couple of 2 to 3 times a day.
Be paying that $5 to get your Craigslist ad apply. A full disclosure, we do not do Craigslist ads. I hate the Craigslist customer. I despise the Craigslist customer. They’re very cheap. We don’t do it, but where in the position that we don’t have to. When you first start, you get business anywhere you can get it. You deal with the customers. You deal the harder jobs. You do what it takes to make it work. You do what it takes to get that dump truck and to achieve that obsession.
Appreciate it and hopefully this video was helpful. I know my obsession over these dump truck videos and everything has been a little controversial. We’ve got a couple of people. We’ve got a couple haters. I got a couple people disagreeing with me and that’s fine. We’ve proven our model works. If you all want to roll with my model, then we’re here for you. JRA is here for you if you want to do it the JRA way. If you want to do it somebody else’s way, that’s up to you. I’m confident that if you go to the JRA way, we’re going to take you from where you at now and we’re going to blow it up more than you ever could possibly imagine. Thanks guys. You all have a wonderful evening. We’ll talk to you later tonight.