Home – New Forums New here? Share your story Truck business- grandparents retiring? Reply To: Truck business- grandparents retiring?

#1180319
ThexArm
Member
  • Total posts: 253
Up
0
::

I agree with others that you are better off learning it from your grandparents.

But, if you want to learn by yourself then, start at learning the basics of that business.

What is the need it is satisfying? Who are the competitors? Who are the customers? Why these customers use your grandparents services over the competitors? Is it price or service or something else that makes this service unique?

What are the unique selling proposition?

Also learn about the trucks that are being used in the business. What are the sizes and why? What are the running costs? Are these owned or contracted? What kind of licences required to run such business?

What is the revenue? What was previous year or previous years? How is the outlook for the future? What is happening with your customers? How is the outlook for their business future? Are there any technological improvements in this area? How does that going to affect your business?

What are the main costs of doing this business? How to control these costs?

Take all this as a project work and do the research and find out answers. As you go along you will have more questions and you will find answers. See if you continue to have interest in the business so that you can get involve more in the business. As you show more interest in the business, most probably your grannies might recruit you into business in some capacity to equip you into the future.