Hotshot Basics (or Hotshot for Dummies)

I have a friend who has been doing hotshots for a number of years. He has always pulled cars with either a step deck or wedge trailer. He does well most of the time. I can see a disadvantage that you may have with your equipment. Most who do hotshots pull with a 1 ton dually and at least a 48' trailer. Some pull a 53'. You will miss some loads that are 40'. Of course, it mostly depends on how you structure your business.

You will want to subscribe to some load boards. That is how most people get started who don't have any business contacts. There are several load boards and the cost about $35/month on average. If you want to be in trucking you will need to either get your own authority or lease to a carrier who does have authority. Hot Shot Express is one that I am familiar. They are part of Jones Motor. Another is Bennett out of McDonough, GA. Both companies have hotshot divisions. Then there are the expeditor carriers. Not all expeditors have flatbed freight.

You should allow at least 6 months to get a feel of the business. Without some trucking experience you are facing a longer learning curve. You didn't mention your location, but if you live near any of the oil fields you may check with them about running their freight.

My friend who does hot shots only deals with COD loads. Some bill shippers and/or brokers. Those who do bill may factor their receivables. Many brokers offer a quick pay option for a discount on the freight bills. If you choose to bill direct and not pay the discount, you can expect most to pay in 30-45 days from when they receive your invoice and proof of delivery. Never trust anyone in this business. If you plan on extending credit you should take the time to check their credit. If not, you are taking a very high risk. When you lease to a carrier they assume the risk of being paid. If you lease to a carrier, you should expect to be paid within a few days to a week from the time you send in your bills.

One problem you may have with leasing on to a carrier is your lack of experience. Most will want owner operators to have a certain amount of experience. It will be up to you to sell your abilities. Our biggest concern with any driver is whether we can cover them under our insurance. Some insurance companies require as much as 2-3 years experience. It is like which comes first, the chicken or the egg.

 

I pulled a 32' dovetail with a dodge dually for18 months as a company driver from may 2011 to the begining of 2013 and if your willing to stay away from home you can stay pretty busy pulling for the oilfields in Texas and Oklahoma.In Nebraska there is a place that manufactures oilfield pipe that is thin wall and pretty light that keeps a lot of goosenecks busy I think the town is York?Not positive been a little while since I've been west!? Sorry can't answer a lot more but I also have had thoughts of getting a dually and gooseneck and doing the same thing?Good luck!!

 

250K cargo is usually plenty

 

100k is the standard in cargo, but remember, that if your hauling a load that is above and beyond in value. You will be liable for the whole cost of replacing. You should have an agent you can call to insert a temp. Increase in coverage when this occurs. It doesnt cost anything extra, but it cyb. In case the dreaded occurs. Doing the hotshot is a great way to start out. The costs incurred thru the fees and taxes are much less. Also, your fuel mileage will be more profitable. I have a dodge 3500 dually with a 40k weight max irp. Even though i will never get close to the 40k in load, it covers my booty when i'm flirting with 36k. This is the recommended weight for my set up, but it gives me piece of mind. Big country

 

kevin, i live in covington LA, i have a friend that owes an acme terminal he can get you started.

 

Most brokers and shippers only require $100,000 cargo insurance. I would not spend the extra money on insurance unless you know for sure that you will need it. There is always "gap" insurance for specific loads. I doubt that you would ever need more than $100,000 unless you pull cars and then you might need as much as $150,000. Otherwise, I don't think it is worth the added expense.

 

You must meet the same requirements as a CDL driver, DOT and MC, Dot Physical, Log Books fuel permits etc if your over 10000lbs or and driving Interstate. Also a 2500 = 3/4 ton will not be reliable for the weights you'll be require to pull. Which also means longevity is out of the question.
Motor Carriers Authority also state you require Insurance in the amount of $750 000. So unless things have changed drastically since May, you have to face reality and bite the bullet.

One of the biggest problems with hopeful Hot Shots is they get the wrong idea from watching a stupid unrealistic TV show.................