I’m curious about their success. I realize it is sales driven, but it seems like a solid move as mechanics are never going anywhere.
Know anyone who owns a tool truck or do you own one?
- Thread starter Rick Flair
- Start date
A buddy of mine who is an over the road trucker is looking into buying into a tool truck. A truck has opened up in his area due to a retirement and its a very well know brand. They want like $40k to buy in, with them providing financing on the truck and inventory, the truck is less than a year old. They showed him, and he in turn shared with me what I think is a very optimistic P&L for the geography they are offering. If the numbers are real, you could do pretty well hustling tools. Its a tough job though, lots of hours and admin work outside of sales.
OP
Thanks for that info. My father was a mechanic for about 20 years and had experience on the purchase side. Given; this was in the 80’s-90’s. He said, his concern was when mechanics leave/get fired (which happened a lot) how do you collect as most are making weekly payments.
Now with how things are today, I’m sure that is better addressed and I’m sure the company can explain it too. But it is a valid concern, especially considering that some are $100k+ in debt to their tool guys.
Just looking for a job that interests me. I LOVE tools and vehicles, it’s been the one constant besides firearms in my life as a passion.
If I could make $50-60 an hour doing that, I’d be super happy. Even if I had to hustle 60 hours a week.
I was pretty good friends with my Matco guy named Billy back in the early 2000s. He liked it, but I second the long hours. And I mean long, like all day. He'd be in the truck by 7am starting his route, then he'd be working inventory & billing until the evening hours. We played a lot of golf together, & it was rare for him to get more than half a weekend day to do something other than work. I don't know how much money he made, but seemed to be doing alright for himself. I don't remember the exact figure, but his buy-in was similar to what @AMS417 mentioned - I want to say $50 or $60k maybe. Same complaints as well about deadbeats - he said he always felt bad that he had to sometimes ruin a guy's credit over ratchets after they kept dodging him over & over but it is what it is I guess. There were always those dudes that had to go on an "extended test drive" whenever Billy or any of the other trucks pulled in the drive lol.
Last I left him he was looking at expanding - buying other routes, paying guys an hourly rate + commission to drive to drive more trucks.
Last I left him he was looking at expanding - buying other routes, paying guys an hourly rate + commission to drive to drive more trucks.
As with most businesses the key is to get to the point where other people do your work for you. Seems like a difficult goal in the tool truck industry. Also pay attention to location, lots of drive time between stops is not good.
My only comment would be to be careful what you wish for. I've known several over the years that have been passionate about stuff like fishing, hunting, cars, etc.. They have found jobs in their area of interest. The guy who loved fishing went to work at a large chain tackle store and worked up to be the manager. The good is great discounts on gear, the bad is everyone is out on the albacore run when you're selling 9 dollar Zebco set-ups that the kids can drown worms with. Or, the guys are coming in to grab the stuff to slay the albacore again and telling you what you missed.
Similarly, I known several who are really good at what they do either for a job or as a hobby. They quit jobs and started mechanic shops, cabinet shops and other businesses based on their passions. It didn't take long to figure out that they should have been passionate about running a business because being in business is not the same as doing something you really like.
I wound up being good friends with the guy at the tackle store and he said never again.
Mobusaki
TJ Enthusiast
I've seen this happen. The saying is "find a job you love and you'll never work a day in your life." So people want a job that is closest to whatever their favorite hobby is, or whatever passion they have. But it turns out for many it is difficult to stay passionate about something once it becomes your job. You'll see car guys who become mechanics because hey, that's what they love and know, and before you know it they don't want to work on their own vehicles once they get home from work. Their hobby became their job, and now it isn't a hobby anymore. Not all, of course, but many.
That's why a lot of mechanics drive the most basic, boring, reliable vehicles. They don't want to fix shit when they're off work.
And the advice about running a business is spot on. It doesn't matter what it is, running a business is difficult period.
I've had this same conversation recently with the crew who painted my Jeep and F150. Everytime I go by there we all start to shoot the bull. They all have project cars/trucks at home but they're just sitting. I asked how can you all work 10 hrs here on other peoples things and still have any interest whatsoever to go home and do the same on your stuff? They all said they flat out don't. Yet they still hold onto them. Gotta have that separation.
Mobusaki
TJ Enthusiast
It's kind of sad. But those people are probably really good at their jobs, at least. That's the other side of the coin... if you choose a job that ISN'T a passion then you may not be very good at it. Ask people at their job about their hobbies and you will quickly find many have more knowledge and skill with their hobby than their job.
I’m trying to figure out what to do for my second career. I can retire this year if I want, but I need another income stream.
I want to do something different, but I'm not sure I've got the guts to branch out.
I want to do something different, but I'm not sure I've got the guts to branch out.
The job has zero to do with either. It is a marketing/sales position with demanding hours, tons of risk as well as the potential for a good income but it has nothing to do with a love of tools or vehicles.
This is job for a guy who wants to be his own boss, an entreprenuer.. and there might be far more lucrative ways to earn a living working for yourself than by buying a tool truck.
Huge post.
Doing the technical work of a business and running a business that does technical work are 2 different things.
The headaches and frustrations of business quickly take the fun out of the part you are passionate about, because you can't focus and get in the zone namely.