HOW TO START A Hot Shot Trucking Business
Wondering how to start a hot shot trucking business? Looking to start a hot shot trucking business? Nate Jones Entrepreneur is here to help you with a free hot shot trucking business plan below. Starting your dump truck business in Indiana the correct way is important.
How much does it cost to start a hot shot trucking business?
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$100,000 - For a Reliable Used Truck ($70,000) and Flat Bed Trailer ($30,000)
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$25,000 - Annual Cost of Diesel Fuel and Auto Service Expenses
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$12,000 - for insurance If you need insurance, reach out to Wexford Insurance, they work with a lot of Dump Truck Businesses. wexfordins.com
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$500 - for Dump Truck DOT Registration
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$200 - for LLC or corporation registration
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TOTAL COST TO START: $137,700
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TOTAL COST USING FINANCING:
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$10,000 - Down payment on truck and trailer
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$2,000 - Down payment on insurance
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$700 - for DOT and LLC
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TOTAL: $12,700 a month
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How much money can you make running a hot shot trucking business?
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The average revenue per load for a dump truck is $800-$1,000 per load.
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$1.50 - $2 a mile on a 550 mile trip.
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The average number of loads a hot shot can haul a day is 4-5 loads a week
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Hauling 5 loads a week would make $4,125 a week on average.
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On a monthly basis, your hot shot trucking business would make $16,500 a month
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On an annual basis, your hot shot trucking business would make just under $200,000 a year
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As you scale your hot shot trucking business, you can continue to make more money by buying more trucks with the expense of hiring a driver.
Are Hot Shot Trucking Businesses Profitable?
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Yes, a hot shot truck can make around $16,500 a month. With monthly expenses (loan, insurance, fuel, etc) of around $6,000 a month a hot shot trucking business can profit around $10,000 a month.
Positives of a Hot Shot Trucking Business
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This Business is always needed. Freight will always need to be moved.
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This business can be scaled. You can continue to add more trucks and grow your business.
How to Start a Hot Shot Trucking Business
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Save up money for down payments on a truck
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Form your LLC with the Federal Government and Local Government
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Obtain a DOT Number from the FMCSA
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Purchase Insurance
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Make connections with local freight brokers, load boards, and other trucking companies.
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Run your business!
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How to scale your business so you have a life.
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