So you want to hot-shot? (Will be updated/edited frequently)

When would you? I mean, I have the money to dump into a whole brand new setup, I was just in the idea of keeping costs a little lower starting. I was figuring with the setup I stated figuring on 100,000k a year with truck depreciation, trailer depreciation, truck insurance, liability/cargo insurance, licensing, repairs, meals/lodging, service, tires, tolls, and all, i'm looking at an operating cost of .81 - .85 cpm AVERAGE... At a bare minimum of 1.50cpm charged, that's .69 - .65cpm to me. We're in the slow months right now, so of course not right now, but it'll pick up and an expected minimum of 1.85 and hopefully averaging 2.10-2.50cpm wouldn't be horrible.

Am I wrong?

 

Midwest is right about time to start up hotshot business. During normal cycle this is a slow time of year, ( winter ) the freight on the load boards is far and few between. My suggestion would be to locate direct outbound freight from your area. Time well spent.

 

I wasn't planning on starting quite yet. I am waiting for my son to be 4-5 months old before I let my husband start taking care of him.

What month would you suggest starting in Lite bug?

 

Everyone that I know was down in 2015, including myself. Some guys as much as 30 percent. This year from what I see this year looks similar. So if I am trying to shed light on a new person starting out in the current business climate right now, I would say be very carefull. Nor am I saying it can not be done. I seen a guy on here just about this time last year who is located about 45 miles from my location. He started in April with a used truck and trailer, by September he had 3 trucks and 2 drivers. Now what I describe is an exception nothing else. Not avoid your question IMHO May would be a good time to start.

 

As far as Equipment goes, I need to add clearance lights, and a DOT safety kit to my truck, what other equipment on the vehicle itself will be needed to pass DOT inspection? I recently got a new exhaust "professionally installed," fixed the steering box, replaced the entire front and rear suspension, have a class V bumper pull hitch mount, and a gooseneck hitch in the bed with place for safety chains. This was all for personal use though.

 

So is it worth it to run a single axle class 8 truck pulling a step vs a 1-ton with a 40'GN? I'm not big on getting rid of my sleeper but money talks. Lol.

 

I concur with this. I have been doing some due diligence on the matter as I am very interested in this business. I think unless you have a very solid financial base to start from and little debt, it may be best to wait and watch for the mud to clear a bit.

 

I think it helps for newbies to start when it's a little slower. It gives them time for everything to sink in, and for them to settle in without as much stress.

Some of us are already seeing a increase in work. Mid February to early March is typically when we see it picking up in the western half, mid west.

As far as equipment, you should really have a dual rear wheel truck, and a trailer with a minimum of 40' of deck space. Anything less than 40' of deck space can make it very difficult to get enough money on a run. We get calls here all the time from people with short trailers who are having a difficult time making money.

In this type of work it's critical that you're thinking lite weight when you're gearing up also. I'm talking about your trailer weight, how much extra fuel you plan on carrying in a spare fuel tank , the amount, and type of tiedown gear you plan on carrying, etc. Look at it as a trade off, you can carry excess non paying trailer, gear, and fuel weight, or you can trade that for better fuel mileage, and/or picking up another piece of LTL Freight.

 

I'm new to this thread and also new to the hot shot business. I have read through this thread entirely and there's a lot of good information. Thank you...
My first question would have to be how is business going for hot shots to date? I worked in the oil business for approximately 7 years and know there was a lot of work for hot shots. Oil fields have reached an all time low of only some 460 rigs operating in the United States. That being said I would imagine less work for hot shots and more competition?

I have always dreamed of doing my own thing in hot shots but, I'm just a bit skeptical if everything I'm doing to set up my business is going to be worth it.
I had a friend that did hot shots mostly RV and Boats. He told me stories of his success and promised me a 40' flat bed that I could pull using his DOT and MC number. He also told me he would help booking my loads for 10% using job boards. Needless to say he hasn't came through with his promises so I'm even more skeptical of how much money you can actually make. He told me somewhere around 4k to 6k a week.

My next question would be that I bought a 2013 Ram 3500 dually early this year and was just about to pull the trigger on a 40' PJ flatbed 26gvwr with mega ramps, electric over hydraulic brakes, tool box ect. but, "my friend" called and advised that I should get a 4 car wedge trailer that way when he eventually comes through with the flat bed I could have best of both worlds. The flat bed he has promised me I doubt I will ever see so I'm more curious where the money is Flat bed or Car hauler? Which would be the better buy for a beginner? I'm not familiar on how to load cars and more familiar on how to load a flat bed but not a pro and would imagine it would be very intimidating with all the different kinds of freight. Learning curve I suppose.

Job boards? I'm curious on what I need to be prepared with once I start working the job boards? What kind of information does a broker, shipper, receiver ask for? What kind of straps and chains, wood blocks, tarps do I need to get started? Any advice on where to buy the tools I need for the job would be great also.

Thanks for reading through my issues getting started and any advice I can get would be greatly appreciated.

 

I can tell you that right now is not a good time to get into the hotshot business. Things are still slow and rates are in the gutter. My hotshot business has nothing to do with the oil fields and I'm still slow. Last year at this time things were really getting going and rates were definitely better.

Your "friend" doesn't have great advice and i sure would not follow it. If your dead set on getting into this business take your time and do it the right way. Get your own operating authority and insurance. Keep your day job for the time being and stock up on cash reserves. The biggest issue I see and hear from guys is they don't have enough cash in the bank. They use everything they have to put down on a truck and trailer to get into the business. When times are slow they are forced to take low paying freight to keep the bills paid and that is a recipe for failure.