HotShot Equipment Return Question!!

Discussion in 'Ask An Owner Operator' started by skeeteryoumans803, Jan 3, 2019.

  1. HillbillyDeluxeTruck

    HillbillyDeluxeTruck Road Train Member

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    I agree with the lawyer aspect. If anything a call from a lawyer holds a lot more water than you as an individual.

    As for a check being sent, if its not cashed, the sale hasn't been funded. The finance co can cancel the check, the dealer can choose tovlet you walk.

    "Running the wheels off" is not how you make $ and stay afloat in this business. Wanna know how I know? I started out as an o/o doing hotshot 4yrs ago. I had paid for equipment. I had 10yrs of small business ownership experience. I however had zero trucking experience and got taken full advantage of by several companies I leased on to. I learned some very expensive lessons that I could have avoided by just taking a driving job.

    I know enough to warn you of the pitfalls, guys like @Ridgeline and some others have the amount of knowlege that I strive to have one day.

    I'll tell you this. Unless you have A LOT of luck, the chances of being successful at your operation isnt good.
     
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  3. skeeteryoumans803

    skeeteryoumans803 Bobtail Member

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    Thanks a lot, you are right. Sometimes you think the grass is greener on the other side with more stress and headaches and as I am already experiencing some challenges and haven't even got my business off the ground. Is that a sign to just hold off. I have family members who have pledge to help, but you know it's easier said than done. Although my brothers have solid foundations, I don't want my business to be based off others situation just because I want to pursue a business opportunity which I keep asking myself, is this even my passion or am I just following the money which could be "Devils gold". I really appreciate everyone feedback because it helps to frame the big picture.
     
  4. HillbillyDeluxeTruck

    HillbillyDeluxeTruck Road Train Member

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    I'll tell ya another thing. I don't see hotshot carriers being widely used outside of areas that have oilfields. Sometimes theres small stuff needed asap out at sites that can be brought in quick with an expedited service. But anything you can haul on a gooseneck I can haul on a flatbed.

    Do you have a baseline cpm of costs to operate?

    Insurance, fuel, equipment, etc. Are just a couple of your fixed costs. On top of that you have variable costs. Any ideas what those are? You can easily be over $1/mi just to operate. Any idea what freight rates are? Because if you can only run your equipment for operating costs you're gonna lose. If you think "well I can make it up on the next load" then you snowball and you're losing revenue.

    Landstar has a hotshot division, if you've got a good driving record and the equipment, they might be an option for you. But know your costs before anything else.
     
  5. skeeteryoumans803

    skeeteryoumans803 Bobtail Member

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    All great pointers, I received a call from Landstar the other day to screen me for a o/o hotshot position with them. I was still on vacation so I couldn't finish the prescreen. Anyway, I want to ensure if I do move forward that I structure this business to be on the right track from the start, but now I am just hesitant about the whole ordeal. Now I'm really learning about a lot of stuff that I needed to know before spending one dime on any equipment. I just got so excited after seeing some of the YouTube videos and figured I could just jump out there. I also spoke with a few guys who are actually doing it and they gave me good feedback but not all the details and now I'm feeling all types of confused because I know there is much more that I should have known. Anyway, I really appreciates everyone providing feedback into my situation. Thanks and that's from the heart!!
     
  6. HillbillyDeluxeTruck

    HillbillyDeluxeTruck Road Train Member

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    I dont wanna scare you off, but jumping out there is exactly what I did and it didnt end well. If Id have had a little more patience and Landstar doing hotshot at the time, I might've done better.

    Just know your #'s. No one ever made anything of themselves not trying and risking failure.

    I also wouldn't run a 1 ton. Not enough capacity that a 4500 or 5500 has.
     
  7. skeeteryoumans803

    skeeteryoumans803 Bobtail Member

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    Nah I understand completely and it makes so much sense. I guess any new endeavor will always be a bit scary but I guess I want all the answers upfront so I know exactly what I'm dealing with. I know that's the easy answer but it's not real. As many of the people on here has at least experienced it from a risk taking standpoint and probably learned some invaluable lessons good/bad. This is the kind of knowledge I should have used before I started buying stuff. I know all is not lost just yet, but I am just not as excited as I was before I took the leap of faith by spending money on things I not even sure I want to use now.
     
  8. JonJon78

    JonJon78 Road Train Member

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    This is a major issue in the trucking/hotshot industry. So many YouTube celebrities now days and sadly people on the outside looking in believe most of what those idiots are spewing.

    Lots of them like to make it look like you run out buy truck and trailer in SUCCESS. Like a magic trick it just appears. They conveniently leave out all the real/important details.
     
  9. ZVar

    ZVar Road Train Member

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    That, and shows like Shipping Wars make it seem like it's a cake walk to turn a profit. All the while ignoring the 98% of the people on UShip are running illegally in hos, insurance, and required dot numbers.
     
  10. skeeteryoumans803

    skeeteryoumans803 Bobtail Member

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    Amen, because I was one of those who fell into that trap/hype. I know it's a business and requires a lot of work, due diligence and sacrifice. Something I'm not new to since I did retired from the military so I know what commitment takes and esp having thick skin. Now that I'm just at the "Flea or Fight" point, I gotta make that final decision and live with whatever happens. I just regret that I made too many quick decisions before I really had all my numbers and information down solid. I thank you for the feedback though.
     
    JonJon78 Thanks this.
  11. skeeteryoumans803

    skeeteryoumans803 Bobtail Member

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    Yes, they don't give you the real hard numbers. They show all the good and very little bad and when they know it's more to consider before getting out here. I just don't want to pay the trailer company that 4,000.00 for something that I will not be using esp since I didn't move the equipment off the lot. I definitely have to consult a lawyer before I give them one red/brown cent.
     
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