If you're looking to start a trucking business with no money, you'll need to find a lender willing to finance your fleet of vehicles and initial expenses. You may want to explore several business loan options, such as commercial truck loans and equipment loans. If you don't have thousands of dollars ready to be used, a loan may be your best financing option. However, it's important to remember that lending has its own rules. When comparing loan options, consider the monthly payment, down payment, and all other details (don't forget to read the fine print).
If you want to specialize in heavier loads, you can look into lowboy trailers and tilt platform trailers. For transporting cars, you can consider 3 car carriers (flat or pigeon tailed) as the initial option. If you want to learn more about transportation companies in general and are looking for inspiration, check out my definitive guide to transportation business ideas here. I discuss more than 30 business ideas you can start in the transportation industry (with useful information and tips on how to get started). The first and most important part of starting a trucking business with no money is finding a way to get your truck without having to pay cash out of pocket.
There are several ways to do this, but the easiest way is to find a lender who will give you a loan for the full price of the truck.
Most of the ads on the DAT loading panels are posted by truck brokers who work on behalf of shippers, and the system also provides you with information such as brokers' credit scores and average payment time, which can be useful in making sure you're working with suitable partners.To begin with, hot shot truckers need a station wagon and some type of flatbed trailer for transporting loads. One of the great advantages of this type of business is its relative affordability (at least compared to things like long-haul trucks, which require you to own or rent semi-trucks, which are much more expensive). With a successful hot shot trucking business, your revenue potential will depend on how much you drive and the rate per mile you can generate. You don't need especially heavy chains for hot shot driving because your weight will never be high enough to require something too thick. A hot shot transportation company is one where smaller loads (with a lower load than a truck load or LTL) are transported, which are often critical and urgent.
You must open a dedicated checking account in the name of your hot shot trucking business (assuming it's an independent business and not part of your current trucking business). Before getting too deep into exploring a hot shot trucking business, make sure that you can meet all the physical, legal, and other business requirements. Fast cargo transportation is urgent and companies will be looking for trucks in their area that can pick up loads and hit the road as soon as possible, making load boards the most efficient method for truckers to easily find hot cargo. Load boards are probably the best way to get a steady and consistent flow of hot loads, but you can also hit the curb and start talking to local businesses that may need hot shot deliveries from time to time. You can also start a trucking business with a box truck (also known as a straight truck) or even a cargo van or speedster van. That's where DAT Authority experts can help them specialize in managing authority paperwork, federal and state permits, and state DOT regulations for hot shot trucks.
In addition, the rules and requirements for operating a successful company and a semi-enterprise largely overlap, so entering the world of hot shooting is perfect preparation for taking the leap into transporting larger loads (if that's the career path you're interested in).