Advice for new hotshot owner

Discussion in 'Expediter and Hot Shot Trucking Forum' started by Alexander., Mar 1, 2015.

  1. Alexander.

    Alexander. Bobtail Member

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    So due to a drastic change in my life (Divorce) I have decided to switch my career, I use to be with my wife and kids all the time and now I see my kids once a week and every other weekend. I grew up in Tampa FL , but I moved to south Texas a year ago. I find myself with way too much time and nothing to do. So I bough a new 2015 ram 5500 crew cab 4x4 and a 40 foot PJ trailer with 12k axles and more upgrades , truck $59,800 and trailer $16,100 , those include tax. I am now shopping for insurance. I got my CDL-a two weeks ago. I found a company to get my Authority for $580.00 in 3 weeks, but I need help and guidance with FTA's and advice on service's from people that help license and set up new hotshot companies, I found some but super expensive. Please be polite and constructive, I hear and see the negatives , I wou prefer the conservative criticism and advice. I estimate my cost per mile close to 97 cents to 1.03! cause of my new equipment. Any advice,
     
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  3. kw550cat

    kw550cat Medium Load Member

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    Have you read this sub form at all?
     
  4. Alexander.

    Alexander. Bobtail Member

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  5. kw550cat

    kw550cat Medium Load Member

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    The one that says expediter and hotshot forum.
     
  6. Lite bug

    Lite bug Road Train Member

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    I suggest you find a dispatch service, one who has been in this industry and has many contacts, they will ask for a percentage of the loads. You may also consider moving to a location that has a lot of freight. The reason I suggest this is your overhead. It takes time to get direct freight and develop relationships with brokers, at this point you need to be profitable from the time you start running. Hope this helps. Mike
     
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  7. Alexander.

    Alexander. Bobtail Member

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    Thank you Mike good info
     
  8. kw550cat

    kw550cat Medium Load Member

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    Hot route delivery specialists is one.
    Next, you did the right thing getting the cdl because you can haul more. Do your operating costs consist of a salary for yourself? I would consider an extra ten cents or so to cover "other" costs like tolls and equipment replacement.
    Give ooida a call to ask about setting up your new company. Even their website has useful tools and information to use. Ifta is what has to be tracked. It is the amount of miles you travel in a state and fuel you buy there. At the end of each quarter, you either owe money or get money. Looking through this forum, you really will find useful information to run your business successfully.
     
  9. Alexander.

    Alexander. Bobtail Member

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    very good info , I'll chech into ooida
     
  10. Skate-Board

    Skate-Board Road Train Member

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    Have you got a quote on insurance yet? You may be in for a HUGE surprise being so new
     
  11. Alexander.

    Alexander. Bobtail Member

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    That is what I'm waiting on , I'll le you all know , I'm sure it's around 10k
     
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