When shippers and brokers have relatively small shipments that need to be delivered quickly, they seek the services of hot shot truckers. These drivers and operators deliver time-sensitive and project-critical loads such as agricultural machinery, construction machinery and materials, and heavy machinery. Hot shot drivers typically use supercharged pickup trucks with trailers rather than heavy, Class 8 semis.
ProceduHow to start a hot shot trucking Business
There are two main disqualifying factors in trucking: health and insurance. So even before opening your own LLC, it’s essential to ensure unexpected sky-high bonuses or setbacks do not blindside you.Everyone who drives a commercial motor vehicle, including hotshot drivers, must receive a Department of Transportation medical card. You will need to schedule a physical appointment with an FMCSA-approved national registry medical examiner. These exams will cover the basics like your medical history, vision, hearing, and urine tests. If you are healthy enough, you will receive a DOT medical license that allows you to operate commercial vehicles for 24 months. After 24 months, you will need another physical exam to renew your certificate.
The second thing is getting a commercial insurance test quote from Progressive, which only requires your vehicle identification number. High insurance premiums can quickly dent your profit margins, so a quote estimate is a helpful way to determine whether it makes more sense to open your own LLC or lease another company. In the next step, you will need to open a business through your state’s website. You are provided with an Employer Identification Number that allows you to open a business bank account and receive payments from customers. You then apply to the FMCSA for a Carrier or MC (Operating Authority) number. This allows you to cross state lines and designate legal BOC-3 agents to represent you in the states where you operate.
How to Find Hot shot Trucking Loads
Trucking is time-sensitive, and companies will be looking for trucks in their area that can pick up a load and get it on the road as soon as possible– making load boards the most efficient method for truckers to find ready loads easily.
A Must Know Tips on how to run a successful hot shot business
- Manage your time effectively
In this business, the less waiting, the better! To maximize profit, it is essential that you, as the hotshot truck driver, use your time very efficiently and productively. One practical strategy is to plan to arrive at your receiver the night before delivery. Be ready for the next load in the morning.
- Optimize your routes
Always plan delivery routes to reduce driving time and fuel consumption. If you’re driving through a big city at 5 p.m., then on Friday, you will be sitting in rush hour traffic. So if you don’t have to go through rush hour, reroute or pull over and wait until 6:30 or 7:30 at your favorite truck stop – and turn the car off!
- Reduce idle time
Remember that every drop of fuel not used to haul the payload is wasted money. So always consider purchasing a personal gas generator for your truck to run accessories like a TV, refrigerator, microwave, small space heater, and small portable air conditioner instead of leaving the truck idling after you stop.
Starting any business is not something simple- and becoming a hotshot truck driveris not a walkover. Always remember that anything worth doing needs a good plan, but you also have to work on that plan. But if you are consistent and persistent, you can develop a profitable trucking business.