Are you looking to start a hot shot trucking business but don't have the money to do so? Don't worry, you can still get your business off the ground with minimal investment. Hot shot trucking is a great way to specialize in heavier loads, transport cars, and make money. In this article, we'll discuss the initial costs of starting a hot shot trucking business, the types of vehicles you can use, and how to find hot cargo. If you want to specialize in heavier loads, you can consider lowboy trailers and tilt platform trailers.
For transporting cars, you can consider 3 car carriers (flat or pigeon-tailed) as a starting option. We did some research and, based on 3 reliable sources (LTL Rig, Autotrader, Step By Step Business), we calculated the following breakdown of the initial costs of a popular company:
- Truck: $50,000 - $100,000
- Trailer: $20,000 - $30,000
- Insurance: $2,000 - $3,000
- Permits: $1,500 - $2,500
- Business Entity: $500 - $1,000
You may want to establish a business entity such as an LLC, a corporation, or a partnership for your most popular trucking business. If you don't already have your own transportation authority and are interested in getting one for your most popular business, there are some important requirements you must meet. However, since it's much easier to enter the world of trucks, you'll face quite fierce and consistent competition. With a highly successful trucking business, your revenue potential will vary depending on how much you drive and the rate per mile you can generate. 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. This can be useful in making sure you're working with the right partners. The most popular drivers often operate heavy-duty trucks with trailers, but they can also drive larger vehicles.
These types of loads can provide a good additional and opportunistic income for the truck owner-operator or the owner of a trucking company. One of the great advantages of a popular business is its relative affordability (at least compared to things like long-distance trucks, which require you to own or rent semi-trucks, which are much more expensive). 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). If you're interested in starting a popular transportation business but don't know where to start, you're in the right place.
With some research and dedication, you can launch your own hot shot trucking business with minimal investment.