This is a collaborative post by Ellie Jo about making money.
Have you been looking for a job opportunity where you can make good money without reporting to anyone? If yes, consider getting into the hotshot trucking business. However, just like with all other businesses, a trucking business also calls for diligent planning.
You can feel lost and overwhelmed if you’ve not done anything close to this before. Luckily, this guide will show you how to make a smart investment on the least stressful path.
Have the Right Kind of Truck
Hotshot trucking is a time-sensitive kind of business since it involves the transportation of time-bound loads. As such, you need a truck that can meet these demands conveniently and effectively.
Don’t ignore any problems that arise with the vehicle and ensure you have it serviced promptly. Not paying attention to your truck’s proper maintenance could lead to costly problems, or worse, loss of business.
The most reliable trucks for this type of business are one-ton pickup trucks like Ram 3500 or Ford Super Duty F-350. The loads can put a lot of pressure on smaller pickups, exposing them to wear and tear. A smaller truck will also limit business opportunities.
Find the Right Equipment for the Business
Being in the hot shot truck business requires that you invest in the right equipment for the job. One important tool is a 30-foot gooseneck flatbed trailer for the loads. The neck of the trailer is designed as an extension over the tailgate of the truck. It then attaches to a ball hitch in the truck’s bed.
The advantage of gooseneck hitches is that they can carry approximately 30,000 pounds. They are better than bumper hitches, which are limited in the amount of load they can carry. Bumper hitches are not ideal for commercial purposes. Other tools to have at hand are bungee cords, ratchet straps, dollies, and stretch wraps.
Get the Proper Documents
You need to meet some requirements before you can start the hot shot trucking business. First, you must obtain a transportation number from the Department of Transportation in the United States. You also need a Motor Carrier number, which acts as a permit from the state and the federal government to haul freight.
It’s also essential to acquire the right type of insurance for hot trucking. Some customers and businesses may refuse to work with you if you don’t own liability and cargo insurance. Although insurance can hike up the cost of starting this business, you can’t do without it.
Find Hot Shot Loads
Since you’re responsible for your own business, it’s up to you to set your work schedule and look for reliable work. A traditional method of looking for hot shot truck loads is to search existing load boards. Use modern tech services or apps that connect individuals and businesses with truck owners in real-time.
If you have a truck, don’t let it sit idle while it can help you make some extra income. Consider getting into the lucrative hot shot trucking business. With the right papers and kind of truck, you can build up a successful truckload delivery company.