Starting Your Own Hot Shot Trucking Business
Are you looking to break into the trucking industry with a business that offers flexibility and the potential for high earnings? Hot shot trucking might be the perfect opportunity for you. This guide will walk you through everything you need to know to start your own hot shot trucking business, from understanding what hot shot trucking is to the steps required to get your business off the ground. With fewer licensing hurdles and more affordable equipment compared to full-size semi-trucks, hot shot trucking is an accessible and lucrative option for aspiring owner-operators.
What Is Hot Shot Trucking?
When shippers and brokers have relatively small loads that need to be delivered quickly, they turn to hot shot truckers. These drivers specialize in transporting time-sensitive, project-critical loads such as agricultural equipment, construction materials, heavy machinery, and more. Hot shot drivers typically use super-duty pickups with trailers rather than heavy-duty, Class 8 semis.
Pros and Cons of Hot Shot Trucking
Like any business, hot shot trucking has its advantages and disadvantages. When done correctly, it can be a lucrative venture. You have the option to become an owner-operator, which means you will own and run a hot shot business under your own MC number, or you can lease your services to another company. This guide will cover how to get started and provide tips to help you succeed.
How to Start Hot Shot Trucking
Hot shot trucking is an excellent way to enter the trucking industry, whether you’re looking for a full-time career or a part-time job. Here are the steps to get started:
1. Licensing and Certification:
All truckers must have a Class D driver’s license and a CDL exam certificate. Additionally, drivers need a health card from the Department of Transportation, valid for two years.
2. Insurance:
Obtain commercial driver insurance. This can be costly, especially for new drivers, as insurance premiums are higher for those with less experience.
3. MC and USDOT Numbers:
If you plan to drive across state lines, apply for an MC (motor carrier) number and a USDOT number. The USDOT number can cost up to $300 and additional operational authority may require separate fees.
4. Finding Loads:
The final step is to find loads and start delivering. Freelance drivers can use load boards, both free and paid, to find up-to-date trucking jobs.
Additional Steps for New Hot Shot Business Owners
If you work for a company, they will assign you hot shot trucking opportunities based on your schedule. However, if you want to start your own hot shot trucking business, you need to:
1. Register Your Business:
Obtain an EIN or federal tax ID to hire employees and open a business bank account.
2. Invest in Equipment:
Decide on the type of equipment based on the cargo you plan to deliver. You may need to invest $10,000 to $25,000 to buy a trailer or make a down payment of $5,000 to $25,000 for super-duty trailers or trucks.
Running a Successful Hot Shot Business
Here are some tips for running a successful hot shot trucking business:
1. Maximize Your Clock:
The more you drive, the more you earn. Follow Hours of Service regulations and learn to plan your week effectively.
2. Understand the Numbers Game:
Finding high-paying loads requires making multiple phone calls. The more experience you gain, the better you’ll become at finding and quoting loads.
Use Recommended Tools and Resources
1. Fleet Management Software:
Samsara and KeepTruckin for real-time tracking and route optimization.
2. Route Optimization Tools:
Google Maps and Route4Me for efficient routing.
3. Accounting and Financial Management:
QuickBooks and Expensify for expense tracking and financial reporting.
4. Compliance and Safety:
DataQs and J.J. Keller for managing DOT and FMCSA violations.
5. Marketing and Client Acquisition:
Google Ads and Hootsuite for increasing visibility and managing social media.
Final Thought
Ultimately, there is no secret formula to hot shot trucking — success comes from putting in the time and gaining experience. With a sound strategy and the right tools, you can make informed business decisions and ensure your company is well-supported and set up for success.
FAQs
1. What is hot shot trucking?
Hot shot trucking involves transporting smaller, time-sensitive loads using medium-duty trucks and trailers, often within local or regional areas.
2. Do I need a CDL to start a hot shot trucking business?
Yes, a CDL is required if the combined weight of your truck and trailer exceeds 26,000 lbs.
3. What types of trucks and trailers are used in hot shot trucking?
Common trucks include Class 3, 4, and 5 pickups like the Chevrolet Silverado 3500. Trailers can be bumper pull, gooseneck, tilt deck, lowboy, or dovetail.
4. How much can I earn as a hot shot truck driver?
Earnings can reach up to $100,000 annually, with a median salary around $45,000, depending on various factors.
5. How do I find loads for my hot shot trucking business?
Loads can be found through free and paid load boards, as well as networking with brokers and shippers.