To get started in hot shot trucking, you must apply for a U.S. Department of Transportation number, obtain insurance, designate a process agent or agents, and write hauling contracts. Advertising, equipment, administrative requirements, trucks and trailers are additional considerations when starting a hot shot trucking business.Continue Reading
You can obtain a U.S. Department of Transportation number by filling out the MCS-150: Motor Carrier Identification Report. You should fill out Form OP-1: Application for Motor Carrier Property or Broker Operating Authority at the same time.
Hot shot truckers need bodily injury, property damage, business liability and medical insurance. This insurance assures protection in the event of an accident or disaster. Hot shot truckers also require a process agent in each state where they have an office or that is passed through. A process agent accepts service of any legal summons or documents related to the hot shot business.
Seek out hauling contracts with local warehouses, large stores, agricultural producers and manufacturing businesses. Begin advertising through local freight brokers, the hot shot Internet boards and company referrals, as well as by sending mailers to companies and creating a website.
Initial investment considerations include trucks, trailers and equipment. Administrative considerations include hiring an accountant, obtaining a tax ID number and setting up a business checking account.Learn more about Career Aspirations