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How to Become A Hot Shot Truck Driver
Becoming a hot shot truck driver has plenty of benefits for truckers– the main one being that you are your own boss. If you’re considering becoming a hot shot driver, the process is similar to going into business with a Class 8.
The difference? Since hot shot trucking often involves only one destination and can be on a tight time schedule, companies will hire contract drivers to complete one run at a time.
Hot shot loads are usually expedited in a flatbed truck so load is usually industrial material. Most of the time, the work is local or regional so if you’re looking for a type of trucking where you get to spend a lot of time at home, this may be the right choice for you. Your hot shot income should look similar to a Class 8 trucker’s wage.
Steps to Becoming a Hot Shot Driver:
Your DOT number serves as a unique identifier for your company when dealing with safety reports, crash investigations, inspections, reviews and audit. To apply for a USDOT number, visit the Federal Motor Carrier Safety Administration’s website.
The process of getting your DOT number from the FMCSA differs for first time applicants and applicants who have already registered for a USDOT number, or looking for additional authorities. Read through the FMCSA steps to ensure you’re filling out the right application.
In addition to a DOT number, if you’re planning on crossing state lines you’ll need an MC number as well. You can apply for your operating authority, also known as your MC number, here. There are some filing fees, so you’ll want to be aware of those before you start the process.
Arguably the biggest initial cost when starting your hot shot business is buying at least $750,000 worth of liability insurance coverage. According to Overdrive, you’re out of pocket costs are estimated to be around $5,500 for the liability insurance.
To receive the proper amount of coverage, you’ll also need your DOT number, a membership in a drug and alcohol testing group, required driver qualification filings and observance of the hours of service regulations.
The equipment costs for hot shot businesses are far less than those of a Class 8 trucking business. The two main purchases include a truck, usually a pickup, and a flatbed trailer. There may be other small pieces of equipment needed such as bungee cords, chains and anything else you need to secure your load down.
The type of truck you buy is up to you. Most drivers start with a Ford F450 or F550 or a similar model from a different automaker, like Chevy. Smaller trucks such as a F250 or F350 would also work, but the wear and tear on your truck would obviously be greater because lighter duty trucks are often pushed to the max while carrying hot shot loads.
Carefully weigh your options and budget to decide which type of truck will work best for your business. Depending on what type of truck you purchase, if you add in the cost of supplies and insurance, you may be able to begin hauling hot shot loads for as little as $50,000.
You can use load boards such as DAT TruckersEdge to find hot shot loads to haul. Load boards can help you to develop relationships with customers you often purchase loads from. 123 Loadboard is another solution to finding freight. Many load boards have apps and mobile sites, so you’ll be able to have access to loads 24/7.
Why Become a Hot Shot Driver?
If you need extra cash to fund your startup hot shot business, invoice factoring is a great solution. EZ Freight can help you secure low-cost funding to ensure your company’s success.
Ways for Trucking Companies to Reduce Operating Costs
One of the most significant challenges for small trucking companies is keeping up with constant operating expenses. From truck repairs and maintenance to fuel costs, being an owner-operator is no easy task. Business owners have to be organized and take budgeting seriously when planning for their financial future. Overspending can be detrimental to trucking companies because you never know when you may need a large amount of money for a major repair. Below are some ways truckers can reduce operating costs to save money for times of difficulty or simply to maintain a strong cash flow.
4 Ways to Reduce Operating Costs
Maintain a tight budget
Before you can cut costs, you must understand where you’re spending the bulk of your money. Every time you deliver a load or dispatch a truck, you should know how much money you made. Along with your budget, create a profit and loss statement every month to be aware of the profit your trucking business is turning. By creating a budget and PL statement, you will easily be able to track expenses and make decisions on where you can make changes. For example, if you see that your spending a ton of money on an accountant maybe you could look into accounting software to do your businesses bookkeeping in-house.
Eliminate intangible costs
Intangible costs are those that would not be found in your profit and loss statement. These psychological and physiological costs include poor attitude, poor heath and poor communication. Poor attitude in the workplace can bring the mood down for everyone, not just the person with the bad attitude. Intangible costs such as these should be stopped immediately. Whether you need to have conversations with employees about staying motivated and communicating effectively or if you have to potentially let go of an employee with a poor attitude, it will be best for the future of your trucking business.
Outsource
Focus on your niche and outsource the rest. This will help you stay in control of your business. When trying to do a ton of things at once you’ll become burnt out and lose focus on what you love. For example, if you have a dump truck business stick it to, don’t try to get involved with other types of trucking businesses or if you must, designate someone else to run it.
Perform regular maintenance on your trucks
Upkeep on your trucks can get expensive. It’s a good idea to perform regular maintenance rather than wait until something breaks down. Regular maintenance costs a lot less and is proven to be more effective. If you wait until repairs are absolutely needed, your truck could be out of commission for days or even weeks, which would really affect your cash flow.
Following these tips will help truckers to be financially conscious while running their businesses. Maintaining a budget and keeping track of spending will ensure your businesses success. If you need additional help maintaining a strong cash flow for your trucking business, checkout invoice factoring. Invoice factoring gives you instant cash and allows you to factor loads on your own terms. There are no minimums or long-term contracts. Call us today for your free quote!
Most Expensive Toll Roads in the United States
It’s another day at work and you’re hauling a load down the Pennsylvania Turnpike. Traffic is moving at a steady pace, you’re listening to your favorite trucking podcast and basking in the warm sunlight that’s hitting your windshield. Suddenly, there’s flashing sign, “35 mph. Slow down. TOLL PLAZA AHEAD.” A maze of brake lights flickers in the distance. Expensive toll roads can really ruin the moment, can’t they?
You think to yourself, “Again?! I just paid a toll 15 minutes ago!”
Highway tolls are an expensive nuisance for any owner-operator or truck driver in the United States. But, like fuel, taxes and tires, highway tolls are another unavoidable cost of trucking. Toll charges average around $2500 per year for truckers. Different states have drastically different tolls which may make hauling a load even more expensive for you (or not). It could come in very beneficial for freighting and businesses that require travel to look at business mileage tracker software solutions.
It’s important to have all the toll road information available before you start driving, so you won’t face any unpleasant surprises at toll crossings. Be aware of the costly routes and calculate them into your cost per mile before you hit the road.
Which toll roads can truckers expect to hit their wallet the hardest?
The 11 Most Expensive Toll Roads in America by the Mile
Can expensive toll roads be avoided? Not always. As a small business owner, you may have to bite the bullet and use the expensive highway routes. Sometimes there is no sensible alternative. Toll costs aren’t the only expense to consider. Forget about the short-term financial gain and think about your operating costs in the long run. When factoring in fuel for alternative routes, truck and tire deteriorations, delays and extra time, sticking with pricey tolls on highways and turnpikes may be the better option.
Your shipping routes may not align with the most expensive highway tolls listed above, but that doesn’t mean you’re in the clear. While certain state highway tolls are more expensive per mile, other states hit you with more toll road mileage overall, making it even more expensive for truckers to haul and deliver loads. You’re now aware of expensive tolls in the United States, but what states have the most miles of toll roads? If you’re a long-haul trucker, this list will not surprise you.
The 11 States with the Most Toll Road Mileage
Truckers passing through these 11 states are out of luck. The bad luck doubles in states such as Florida and Texas, who made our list for the most toll mileage AND house the most expensive toll roads. With so much road wrapped up in tolls, it’s tough to find a reasonable workaround. Then again, do you really want to drive down 1-95 in Miami during rush hour when you could just stick to the turnpike?
Thankfully, not every state charges insane highway tolls. As a matter of fact, almost half of U.S. states don’t include any toll roads in their infrastructure.
States Without Toll Roads
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If toll-free driving sounds too good to be true, it probably is. Although these states don’t have any toll roads, roughly half still operate toll bridges, toll tunnels and toll ferries. You may never fully avoid paying highway tolls in America, but we hope our US highway toll overview map helps guide your route planning.
And if you’re not already enrolled in a toll program, Florida’s SunPass or East Coast’s E-Z Pass, you should get on that.
Expensive toll roads, vehicle maintenance, fuel and tire costs are all part of what makes being a trucker a pricey profession. Fortunately, freight factoring helps truckers get paid sooner – within 24 hours of delivery. What’s even better? Factoring companies provide fuel advances (up to 50% of the load amount) to help cover costs before delivery like fuel and road tolls. Factoring helps you get right back on the road, whether it be the most expensive or cheapest one out there.
The Pros and Cons of Dump Truck Driving
Dump truck driving can be extremely rewarding, but it’s not a job for everyone. If you’re looking into starting a career as a driver or owner operator, make sure you carefully consider the pros and cons of dump truck driving before making a decision. You can check out this guide here to find out more information about ELD Devices, by looking at https://bestelddevices.com/best-eld-guide/, which may make your journey safer. There are several things that make dump truck driving a perfect match for some and a less-than-ideal career for others. If you’re considering entering this career, keep reading. We’ve compiled a list of some of the advantages and disadvantages of being a dump truck driver. It’s a great place to start your research!
Advantages to Becoming a Dump Truck Driver
1. Pay Rate
Did we get your attention? Dump truck companies pay drivers on average $15.57 per hour. Certain companies will pay their drivers double the average, hitting about $30 per hour. A dump truck driver’s salary depends on what company they are driving under, if any, their experience and what they are hauling. Drivers are also eligible for company bonuses and incentives due to the high demand of their service. In 2016, the median pay was $41,340. The median salary in the United States was $37,040, suggesting dump truck drivers make an above-average salary.
It’s more difficult to pinpoint the exact salary for being a dump truck owner-operator. Payscale estimates that a dump truck owner-operator can earn anywhere between $40,000 – $197,000. The longer one is a dump truck driver, the more likely one is to make a higher salary. Behind career length, geography is the biggest factor affecting pay. If one owns several trucks, has them working relatively constant jobs and deducts the necessary expenses it takes to run them, the salary range can be easily much higher. However, they are responsible for the care of their trucks. Even if several trucks need maintenance or gas, dump truck factoring can help out by advancing invoices without putting owner/operators into debt.
2. Low Mileage
Unlike other types of truck drivers, a dump truck driver’s routes are mostly local. A lot of jobs that dump truck drivers accept are hauling loads from one place to another within a 20-30 mile radius. Instead of traveling interstate to deliver goods, they’re more likely to travel within a specific county’s boundaries. Not having loads that require multi-day travel allow dump truck drivers to sleep in their own beds and be at home with their families instead of out on the road. That may mean a driver is going to take multiple loads per day every day they work instead of taking one load across the country and back.
3. Opportunity
Opportunity knocks often for dump truck drivers. If you’re a new driver, don’t worry. Companies across the country are searching for potential drivers to train by hauling smaller, heavier loads back and forth to places like construction sites. When you accept the job, you’ll most likely be trained in a classroom and on the job. If you’re willing to learn the job, there are many different companies that will still consider your application.
If you have a few years of experience, there’s even higher demand for drivers like you. Businesses are looking for people with experience that they can trust to haul what they need. Most dump truck jobs require the operator to also inspect certain equipment, clean and maintain the dump truck, or haul waste. If you have experience doing any or all of those things, you’re already ahead of the game.
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Disadvantages to Becoming a Dump Truck Driver
1. Repetition
If you get bored when you’re required to be repetitive, this job might not be for you. If a driver accepts a certain job that lasts 3 months, they’re most likely going to be driving the exact same route several times a day for those 90 days. Driving locally is a huge perk, but if you’re more concerned with the familiar sites than you are with sleeping close to home, this job is perfect for you. Drivers can avoid complete repetition by switching up their simple routes if at all possible. If not, dump truck drivers get to speak to those they’re hauling for several times a day. Make some friends in your field! If possible, it also helps to take a few breaks and walk around outside of your truck.
2. Seasonal
Work can be seasonal depending on what state you live in. A dump truck driver in Florida is going to experience different weather-related problems than a driver in Alaksa will. If your area has bad winters, you may be out of a job depending on your level of experience. Dump trucks are expensive pieces of equipment, so driving them in less-than-perfect conditions proves more of a risk than anything.
But, if you are a seasoned driver, or want to be eventually, you may be in luck. A dump truck chassis is the base of certain winter service vehicles, so knowing how to operate one in the winter means you have to use an entirely new skill set. a dump truck chassis is the base of many winter service vehicles, so the ability to operate the truck through all the variables of the job is a valued ability indeed. Since there is a lot of load shifting and the truck is generally pretty heavy, it takes skill to do the precise maneuvers necessary in snow removal.
3. Loneliness
While being lonely is a much bigger problem for long-haul truckers, dump truck driving can still be a relatively isolated job. Working long hours and constantly being inside your truck can be difficult to say the least. To make it a bit easier on yourself, listen to an audiobook or podcast. If music is more your thing, tune into the radio or download your favorite streaming music app to keep you entertained for hours. You can always call a family member or friend if you want to as well. A familiar voice can cure the blues in minutes flat. Regardless of what you do to fight the lonely bug, make sure you’re not driving distracted.
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Truck driving is a tough job and a huge commitment.
But — like any other job — it has its advantages and disadvantages.
If you decide the pros outweigh the cons, then welcome to the world of dump trucking!
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