The large number of freight out there demands an increase of the number of drivers in order to accommodate the demand. Because of the large number, people rely on LTL loads to freight goods; the market is ever-growing with the numbers of small truck freights tremendously throughout many parts of the country.
Hot shot trucking can be extremely rewarding particularly if a driver is interested in the kind of lifestyle it is associated with. Based upon the number of benefits and rewards,
CDL drivers should seriously consider hotshot trucking for the following reasons:
Increased flexibility for the driver
While a traditional trucking opportunity can seem demanding, hotshot trucking offers more flexibility and rewards in comparison. Also known as LTLs or Less Than Truck Load is the perfect opportunity for drivers that work on a freelance basis.
Hot shot drivers receive a good income with drivers that work for large entities typically getting 75% of the freight service with the remaining 25% going to operators. On the other hand, drivers that own their business solely reap all financial benefits of operating the business.
An effortless start if you already have a CDL
Companies that hire independent drivers require drivers to fulfill CDL requirement. A commercial motor vehicle is any vehicle that is used for the purposes of generating income that weighs over 10,000 lbs. CDL requirements begin at 26,001 lbs, with the gross vehicle weight rating (GVWR) on the trailer/truck determining whether you require a class A CDL or not.
Reduced insurance costs in comparison to class 8 trucks
Fortunately, unlike most class 8 truck owners or operators, the insurance coverage costs a lot less, making the sign up process a lot less stressful.
No IFTA reports
Drivers that keep their weight limit at 26,001 lbs can avoid filing quarterly IFTA reports and purchase fuel based on the most favorable prices.
Independent companies that hire drivers
If you cannot afford the expenses associated with establishing the business from the ground up after getting the CDL license, hauling companies that hire independent drivers also exist. Typically, these companies subtract a small amount of money from your total fee. Some independent companies provide trucks if you cannot afford it at first. If you prefer, you can also hire your hot shot carriers to these independent companies as a way to make extra cash whenever your truck is not in use.
Control your freight
Independent hot shot drivers enjoy the benefit and opportunity to locate goods that they prefer to freight, as well as select their preferred locations and destinations via various online freight matching providers. This means the drivers get to keep all the earnings with no deductions of any kind. They also handle all of the paper-work associated with the service, with earnings depending on the loads, the drivers and the amount of time spent transporting the freight.
Because hot shot drivers work mainly on a freelance basis, you do not have to sign any long term contracts, allowing you to pursue other businesses or activities. Hotshot driving works for businesses that need to quickly deliver goods and parcels, therefore, contracts are often unnecessary as the delivery of goods takes a short time and are often one-time deliveries.
The hot shot business is growing rapidly, with the tracking industry controlling approximately 70 percent of all freight and hauling services. The benefits listed are perfect for people that do not mind traveling or the flexible work schedule. Before venturing into this type of driving, conduct adequate research into the rules and regulation in order to position yourself for success.