If you are considering getting into a hotshot business and have been wondering what the necessary equipment you will need to purchase, there are a few factors to consider. In all likelihood, the more successful the business will be will be highly dependent on the type of equipment that is purchased, and how well it is maintained.
Generally, hot shot truckers use a standard 1-ton dual axle truck along with a gooseneck trailer that is up to 40 feet long. A long gooseneck trailer provides many more options for locating and hauling good paying loads. It also allows the opportunity to haul more than just a single load at the same time. This will significantly enhance the generated revenue for each loaded mile of transport.
Before selecting the largest gooseneck trailer available, it is important to remember that there are strict limitations involved in commercial transport. If GVWR should exceed more than 26,000 pounds, you will be required to register the trailer, and pay substantially higher IFTA fuel tax. Overall, this could reduce profits. Additionally, it will cost more to operate per mile because of the heavier load, which could significantly reduce profits when not hauling a full load.
A hot shot business will be required to fully comply with all of the DOT (Department of Transportation) rules and regulations that every traditional freight company must follow. This includes maintaining full insurance, and because there is no sleeping compartment in the pickup truck, like the cab of a semi-truck, there will be additional costs involving motel rooms on longer trips.
Being Your Own Boss
If you have the right temperament, patience and persistence, you can start operating your own hot shot business. You will be able to set your own schedules, and select the best routes for transporting. You can choose exactly what type of cargo you will pick up and deliver, or go to work for specific carriers that will handle all the paperwork. As a freelance driver, you will be able to take full advantage of all of the opportunities in the freight industry, by transporting goods without the need to sign a long-term obligation or agreement.
Because nearly everything we handle every day has been transported somehow on a freight hauler, there is great demand for drivers in the transport business. By becoming a freelancer, you will have the freedom to perform your own work, on your own schedule.