Advice For A Newbie

So I'm interested in getting into the hotshot world, and I'd appreciate some advice. I dont personally know anyone in the hotshot business, so I'd like to know if you guys think its a good idea, for me, in my position, to start this.

I'll start with my background; I have 3 years of experience driving munitions and explosives in the military, I still hold explosives and HAZMAT licenses, as well as a security clearance (maybe that will help with government jobs?) I'm planning to on starting this business venture with a friend, he has some military driving experience, as well as, a year of driving a semi on a farm.

I'd like to start my own hotshot company, and team drive with my friend. My plan is to purchase a new F350 dually and big tex 16gn 35ft+5 with mega ramp trailer, downrated to 12,000 pounds. I plan to stay non-CDL as long as theres money in it. I'm planning on removing the rear seat of the F350, and building a sleeping/storage area. I saw that FMCSA regulations said I have to have a restraint system for the sleeping area, if anyone has any pointers on that, please let me know.

As far as start up goes, we have $30,000 saved for start up capital, and we have a combined $3,200 a month passive income. Our only bills are our car payments ($300 each) and phone bills. We don't have any debt, no credit card bills or anything other than car payments. We have a 670 and 700 credit score. We don't have mortgages, or rent, we both work jobs that travel. We don't have families or anything that ties us to any part of the country.

A quick money break down; I figure around $5,500 down on the truck, $2,000 down on trailer, $3,000 down on insurance (I hear thats a normal insurance upfront payment), $2,500 in equipment (straps, chains, toolbox, tools)

We'd like to do team driving, we're both disabled veterans, so we need each other's help. But, I'm curious if you guys think theres a market for team driving? If we team drive we can deliver things long distance without stopping, but do shippers actually care if goods get coast to coast any faster?

We've spent countless hours researching forums, youtube videos, and loadboards, but we'd like to hear from as many experienced drivers as possible. Do you think we're in a good position to start this?

 

I can definitely see that, and we've talked about it. If it gets to that point we'll stop. We've been traveling and working together since we were in the military together, and spent the last 3 years on the road together. So I'm not overly concerned about that, but it is a good point, and we'll talk about it more.

 

I appreciate that, that net restraint looks neat. I looked it up and its about $2,500, which seems like alot. I'll look more into those.

 

Thanks for the insight. The reason I wanted to start with a 350 was for cost. I found it to be cheaper to buy a dually, rather than semi. Although I was looking at new vehicles, I imagine you're talking about a used semi, right? The reason I wanted a new vehicle was for the warranty. I'm mechanically inclined (engine swaps, and rebuilds) but I've never done any work on a diesel or air brakes. The only diesel experience I have is pre-trip checks, and fluid changes. So the 350 seems more simple.

I guess I'm just trying not to bite off more than I can chew. I figure if I start with a pick up, then work my way back into semis, it'll be a safer move financially.

What do you think? maybe starting small, with a pick up, is an unnecessary step.