Legends Logistics LLC | Application Preview
Legends Logistics LLC is seeking government grants to support various aspects of their business operations. The primary aim of the funding is to procure essential equipment, specifically one truck and one trailer, at an estimated cost of $90,000 to $120,000. Additionally, they are requesting $20,000 to establish an emergency expense fund for equipment repairs, and $184,000 for payroll protection over six months. This payroll funding will cover costs related to fuel, tolls, and preventive maintenance, along with salaries for up to four drivers and HR executives responsible for recruitment and legal compliance. A further $116,000 will be reserved for future use to build business credit.
In terms of their business strategy, Legends Logistics plans to collaborate with staffing organizations to secure qualified drivers. Initially, they aim to hire three company drivers and recruit three owner-operators within the first six months. The goal is to steadily increase their workforce, targeting the onboarding of additional drivers and operators every six months. Financial projections indicate growth in net income, with anticipated revenues increasing significantly over the next several years.
The funding request is positioned as a means to contribute to the post-Covid recovery by creating job opportunities in the local community. Though the immediate impact may be modest, the company emphasizes its commitment to fostering networks and partnerships that can expand employment opportunities for families.
In a competitive landscape that includes major players like Landstar, Swift Transportation, and Schneider International, Legends Logistics highlights its resilience and unique business model focused on sustainable growth and community development. The company prides itself on surviving the crucial early months of operation and remains committed to enabling entrepreneurship and educational initiatives that will benefit future generations.
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General Information
Business Registration Number: 850552626
Location: Sacramento, CA, United States
Length of Operation: 1
Number of Employees:
Annual Gross Income:
Annual Gross Expense:
Open to Loans: YES
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Funding Usage
Purchase of equipment (1 truck, 1 trailer) = $90,000 - $120,000 depending on available equipment. Emergency expense fund $20,000 (per driver est. 4 drivers) held in emergency account only to be used in the event equipment has any major malfunction and needs to be repaired. $184,000 for payroll protection for 6 months (most brokers legally have 90 days to pay on any particular load) these funds will been used for but not limited to fuel costs, tolls and preventative maintenance with all come out of the drivers salary. In addition to the drivers salary these funds will provide payroll protection for 6 months to HR executives who will be recruiting and onboarding employees as well as keeping track of paperwork for the truck and company. The remaining $116,000 will be held in reserve for 6 months. After 6 months the company will use the remaining funds to build business credit through lease purchase programs and credit cards.
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Business Plan
I currently have a partnership with a staffing organization (Stepps Forward) which recommends qualified candidates as company drivers for the equipment purchased by Legends Logistics. I am also in the process of partnering 2 more staffing agencies to ensure a steady flow of available employees. For the first 6 months I plan to hire a maximum of 3 company drivers and recruit 3 owner operators by recommendation only. After 6 months I will assess the companies scalability and if we can afford to scale up Legends Logistics will provide recruiting incentives to the employees we were able to to retain. The goal will be to onboard and retain 1 company driver and 3 owner operators per 6 months. Each company driver renders an annual net income of $129,879.40/yr to the business. Est End of Year 2022: $389,638.20 Est End of Year 2023: $649,397 Est End of Year 2024: $909,155.80 Est End of Year 2025: $1,168,914.60 Est End of Year 2026: $1,428,673.40 Each owner operator renders and annual net income of $18,554.20 /yr to the business Est End of Year 2022: $55,662 Est End of Year 2023: $233,972 Est End of Year 2024: $345,296 Est End of Year 2025: $456,620 Est End of Year 2026: $567,994 The majority of American are still recovering from the Covid-19 Pandemic. Many of whom are looking for work and in need of employment opportunities that will allow them to return to their prior lifestyles as well as recover from the financial detriments caused. Legends Logistics may not be able to help create jobs on a massive scale initially but by providing a variety of job opportunities Legends Logistics is dedicated to creating networks and partnerships that will open an employment flood gate allowing families in our communities to reestablish their independence.
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Self Identified Competition
Landstar Landstar includes over 10,000 owner-operators in the United States, Canada and Mexico. The BCO's (Business Capacity Operators) are not forced dispatch like traditional trucking companies. Rather, they can choose their own loads. Landstar has agents in the United States and Canada. [8] Landstar currently offers scholarships and has a nonprofit "benevolence fund" to assist Landstar operators. Net Income: $177 million Swift Transportation Phoenix, Arizona-based American truckload motor shipping carrier, part of Knight-Swift. With over 23,000 trucks, it is the largest common carrier in the United States. In 2017, Swift merged with Knight Transportation, also of Phoenix, effective September 8, 2017. Worth $1.86 Billion Schneider International A provider of truckload, intermodal and logistics services. Schneider's services include regional, long-haul, expedited, dedicated, bulk, intermodal, brokerage, cross-dock logistics, pool point distribution, supply chain management, and port logistics. Schneider hauls 19,318 loads per day, with 11,650 company drivers, 10,120 company trucks and 33,830 trailers on the road. The company has 166 facilities, conducting business in the United States, Canada, Mexico and China. Schneider's customers include more than two-thirds of the FORTUNE 500 companies. Net worth: $4.22 billion It is a huge accomplishment for any company to survive their first year being open and an even greater accomplishment to be able to withstand within the first few months of it opening. Legends Logistics LLC did that. This allowed me to create a business model that is not about getting rich quick; rather, its about planning for the unexpected and being able to keep the partnerships created with the business we work with as well as the families who depend on us to keep standing. Legends Logistics is also invested in creating programs to further education and individual development which will inspire entrepreneurship and hopefully foster more business opportunities in the future because that is exactly what we are invested in. Futures.
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