Advice for new hotshot owner
Discussion in 'Expediter and Hot Shot Trucking Forum' started by Alexander., Mar 1, 2015.
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so how's it going so far Alexander?
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I think we lost him
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is it best to lease to a company for hotshots or run under your own authority?
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Best advice I can give you is to read any lease agreement thoroughly, maybe even have a attorney look it over for you.
It's not that these lease companies really want to take so much, it's that they have to in order for their business to be profitable. Even if all they took was a true 25% (no extra fee's) it would be tough on you. That 25%, and then some that they'll be taking from what you, and your truck produces, that's what really makes a Independent Owner Operator successful. That money allows the Independent to maintain, update his equipment as needed, and better his position in life.
For instance, a Independent Hotshot Owner Operator, set up correctly, running a tight operation, and who's keeping busy, should Net some where around 55 to 60 percent. That's what's left after all operating cost.
In a lease you're still paying for all that operating cost like the Independent is, but now you're giving up and extra 25%, on top of that.
And just so you can see that I'm not just trying to make the grass look all that greener on the other side of the fence,
As far as being a Independent Owner Operator, there's nothing easy about it, it's a lot of hard work . It requires business sense, a good work ethic, good communication skills, the ability to maintain a positive attitude (even when the going gets tough), and a level of motivation a lot of people just don't seem to have, or be able to maintain. It's been like that since I started out in trucking over 30 years ago, and it's still that way today. If you're lacking in any of these areas, life as a Independent can be very short lived.mojd81 Thanks this. -
First off, thank you for your response. right now I'm an OO leased to mercer. But have always wanted to go under my own authority, but have been discouraged from all the negative I've been told about it. I've also heard that there are a lot of people that had their own authority but gave it up to lease to someone and run under theirs. But I've also heard that it is a lot better and you make more money. Right now being leased to mercer I'm averaging $1.89 all miles. But at some point I think I'm going to get my own authority for my semi truck side of it. But my fiancé has her CDL and was going to drive team but once she read about hotshot loads she now wants to do that seeing We have a 2012 Dodge Ram 3500 just sitting at home with a $700 a month payment and a gooseneck trailer that's paid off. Another question is can I run the hotshot business and my flatbed business under the same authority? Thanks again for your help.
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I second what Flatbedcarrier said !!
mojd81 Thanks this. -
Absolutely, yes, you can run both trucks under the same MC/USDOT, you just list both trucks when applying for everything.mojd81 Thanks this. -
Oh ok sweet. Thank ya. How does it work if I want to add another truck later on?
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